906 Verret St · New Orleans, LA 70114

$350,000

8 bd · 4.0 ba · 2,324 sqft · MultiFamily public records · 125 Days on market

Built 1966 4,081 sqft lot $151/sqft · 54% above area Est $425k · 18% under ↓ 12% since listing

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Unlock exceptional income potential with this charming four-unit property in desirable New Orleans. Each unit features 2 bedrooms and 1 bathroom--8 total bedrooms, 4 total bathrooms across the entire building. True investor's gem. With four separate rental units, you're looking at strong cash flow opportunities and diversified income streams. Whether you're building your portfolio or expanding your holdings, this property delivers. The upstairs porch adds character and potential outdoor living space--perfect for tenants or future upgrades. The classic New Orleans architecture gives this property authentic charm and neighborhood appeal. One unit is renovated and occupied. Two units ready for occupancy. One requires minor improvements and it is ready to roll. Smart investors know: adding value through selective improvements drives rental rates and property appreciation. Can easily rent for $1200/unit now. Perfect for the hands-on investor or property manager looking to maximize returns. Schedule your showing today and start building your real estate wealth.

Key facts

• Upstairs porch
• Four unit property
• 4,081 sq ft lot

Tags

• FOUR UNIT PROPERTY
• UPSTAIRS PORCH
• ONE UNIT IS RENOVATED
• TWO UNITS READY FOR OCCUPANCY

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/?-bath units multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive. Per door: $508/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $350k).
• Recommended offer: $308k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.7% vs local median 4.4% in New Orleans — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 81/100 on livability (#3 in LA, #1,383 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime C-, employment D.
• Orleans Parish (urban): math 11% / reading 27% proficiency, ranked #69 of 98 in LA (top 70%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-0.7%/yr); 265 active listings in the ZIP; lower-income renter base — watch delinquency; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $4,823/mo this rent would consume 133% of the median local household income ($43k/yr) (locally 2240% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Orleans County population projected at +61% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $98k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 125 days — a 12% lower offer ($308k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $50k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $308,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 125 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.38% ✓
• Cap rate: 11.74%
• Cash-on-cash: 19.46%
• DSCR: 1.87
• GRM: 6.0

CMA / ARV

• ARV (median comp): $424,629
• List price: $350,000
• Delta: -17.58%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
509 Leboeuf St	0.55mi	7/3.0 (-1)	2,051 (-12%)	16mo	$190,000	$93	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 7.1%
• Equity multiple: 1.27×
• Total profit: $26,140
• Equity at exit: $52,186

10-year hold

• IRR: 13.7%
• Equity multiple: 1.95×
• Total profit: $93,006
• Equity at exit: $30,262

Cash invested: $98,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Louisiana: 90 Strongly Landlord-Friendly · R+12
• County: — inherits STATE
• City: — inherits STATE

5-day notice; no state rent control; civil-law jurisdiction; landlord-favorable.

Methodology + full state rankings →

ZIP-level market 70114

• Rents YoY: -0.7%
• Active inventory: 265
• Price-to-rent: 18.1×

Monthly cashflow live

• Estimated rent: $4,823 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$239 /mo · $2,874/yr
• Insurance: −$146
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,013
• Net cashflow: $1,523

Break-even live

Break-even rent $2,895

Max offer price $350,000

Occupancy floor 63%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3	—	$4,824
Total (3 units)			$4,823

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $350,000 Active 125 DOM
2. 2026-06-17
   days on market $350,000 Active 124 DOM
3. 2026-06-16
   days on market $350,000 Active 123 DOM
4. 2026-06-15
   days on market $350,000 Active 122 DOM
5. 2026-06-13
   days on market $350,000 Active 120 DOM
6. 2026-06-10
   days on market $350,000 Active 117 DOM
7. 2026-06-09
   days on market $350,000 Active 116 DOM
8. 2026-06-08
   days on market $350,000 Active 115 DOM
9. 2026-06-07
   days on market $350,000 Active 114 DOM
10. 2026-06-05
    days on market $350,000 Active 111 DOM
11. 2026-06-03
    days on market $350,000 Active 110 DOM
12. 2026-06-02
    days on market $350,000 Active 109 DOM
13. 2026-06-01
    days on market $350,000 Active 108 DOM
14. 2026-05-31
    days on market $350,000 Active 107 DOM
15. 2026-03-20
    price $350,000 1071-char remark

    Show marketing remark (1081 chars)

    Unlock exceptional income potential with this charming four-unit property in desirable New Orleans. Each unit features 2 bedrooms and 1 bathroom—8 total bedrooms, 4 total bathrooms across the entire building. True investor's gem. With four separate rental units, you're looking at strong cash flow opportunities and diversified income streams. Whether you're building your portfolio or expanding your holdings, this property delivers. The upstairs porch adds character and potential outdoor living space—perfect for tenants or future upgrades. The classic New Orleans architecture gives this property authentic charm and neighborhood appeal. One unit is renovated and occupied. Two units ready for occupancy. One requires minor improvements and it is ready to roll. Smart investors know: adding value through selective improvements drives rental rates and property appreciation. Can easily rent for $1200/unit now. Perfect for the hands-on investor or property manager looking to maximize returns. Schedule your showing today and start building your real estate wealth.

16. 2026-03-20
    price $350,000 1081-char remark

    Show marketing remark (1081 chars)

    Unlock exceptional income potential with this charming four-unit property in desirable New Orleans. Each unit features 2 bedrooms and 1 bathroom—8 total bedrooms, 4 total bathrooms across the entire building. True investor's gem. With four separate rental units, you're looking at strong cash flow opportunities and diversified income streams. Whether you're building your portfolio or expanding your holdings, this property delivers. The upstairs porch adds character and potential outdoor living space—perfect for tenants or future upgrades. The classic New Orleans architecture gives this property authentic charm and neighborhood appeal. One unit is renovated and occupied. Two units ready for occupancy. One requires minor improvements and it is ready to roll. Smart investors know: adding value through selective improvements drives rental rates and property appreciation. Can easily rent for $1200/unit now. Perfect for the hands-on investor or property manager looking to maximize returns. Schedule your showing today and start building your real estate wealth.

17. 2026-02-13
    listed $400,000 Active 1071-char remark

    Show marketing remark (1081 chars)

    Unlock exceptional income potential with this charming four-unit property in desirable New Orleans. Each unit features 2 bedrooms and 1 bathroom—8 total bedrooms, 4 total bathrooms across the entire building. True investor's gem. With four separate rental units, you're looking at strong cash flow opportunities and diversified income streams. Whether you're building your portfolio or expanding your holdings, this property delivers. The upstairs porch adds character and potential outdoor living space—perfect for tenants or future upgrades. The classic New Orleans architecture gives this property authentic charm and neighborhood appeal. One unit is renovated and occupied. Two units ready for occupancy. One requires minor improvements and it is ready to roll. Smart investors know: adding value through selective improvements drives rental rates and property appreciation. Can easily rent for $1200/unit now. Perfect for the hands-on investor or property manager looking to maximize returns. Schedule your showing today and start building your real estate wealth.

18. 2026-02-13
    listed $400,000 Active 1081-char remark

    Show marketing remark (1081 chars)

    Unlock exceptional income potential with this charming four-unit property in desirable New Orleans. Each unit features 2 bedrooms and 1 bathroom—8 total bedrooms, 4 total bathrooms across the entire building. True investor's gem. With four separate rental units, you're looking at strong cash flow opportunities and diversified income streams. Whether you're building your portfolio or expanding your holdings, this property delivers. The upstairs porch adds character and potential outdoor living space—perfect for tenants or future upgrades. The classic New Orleans architecture gives this property authentic charm and neighborhood appeal. One unit is renovated and occupied. Two units ready for occupancy. One requires minor improvements and it is ready to roll. Smart investors know: adding value through selective improvements drives rental rates and property appreciation. Can easily rent for $1200/unit now. Perfect for the hands-on investor or property manager looking to maximize returns. Schedule your showing today and start building your real estate wealth.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast LA · Resets to sale price

• Current annual tax: $2,874 · $239/mo
• Projected year-2 tax: $2,874 · $239/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $57,876
• − Mortgage interest: −$19,605
• − Property taxes: −$2,874
• − Insurance: −$2,548
• − Repairs & maintenance: −$4,630
• − Management: −$4,630
• − Depreciation: −$10,182
• Taxable income: $13,407
• Est. tax owed @ 24.0%: −$3,218
• After-tax cash flow: $15,058/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Orleans Parish
• NCES district ID: 2201170
• Math proficiency: 11% ▼ -52.00%
• Reading proficiency: 27% ▼ -46.00%
• Median HH income: $37,011
• Composite: 15.78/100
• National rank: #9271
• State rank: #69 of 98 in LA

Livability — New Orleans

• Score: 81/100
• State rank: #3
• US rank: #1383

Category grades

Amenities A+ Commute A+ Cost of living B+ Crime C- Employment D Housing B- Health & safety A+ User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Orleans, LA
• County: Orleans Parish · 338,817 people
• City population: 338,817
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 22,659
• Household income: $43,493
• Rent vs Own: 58.8% rent · 41.2% own
• Severe rent burden: 2240.0

Population outlook (Orleans County) Hauer SSP2

• Today (2025): 513,025 people
• By 2030: 575,781 · +12.2%
• By 2040: 700,174 · +36.5%
• By 2050: 826,541 · +61.1%
• By 2075: 1,123,374 · +119.0%
• By 2100: 1,355,609 · +164.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (72%)
• Race & ethnicity: Black 72% White 16% Hispanic / Latino 8% Two or more races 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Slovak 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 2% Other Indo-European 1%

Political lean MEDSL · Orleans

• 2024 margin: Solid D (+67.0) · D 82.2% · R 15.2% · Other 2.7%
• 2008→2024 swing: +6.7pp toward D · 2008: 60.3pp · 2024: 67.0pp
• All cycles: 2024: D+67.0 2020: D+68.2 2016: D+66.2 2012: D+62.5 2008: D+60.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -98.56%
• Current HPI: 149.0172
• Rent YoY: ▼ -0.72%
• Metro: New Orleans-Metairie, LA
• State GDP YoY: ▲ 3.29%
• F500 in state: 10

Industry mix (Fortune 500 HQ in LA)

Industry	F500 HQs	Revenue
▸Telecommunications	2	$23B
▸Utilities	1	$12B
▸Wholesale / Distribution	1	$5B
▸Advertising	1	$2B

Price history

-12.5% since first listed

4 events — show timeline

• 2026-03-20 Price Changed $350,000 AcadianaMLS
• 2026-03-20 Price Changed $350,000 GSREIN
• 2026-02-13 Listed $400,000 GSREIN
• 2026-02-13 Listed $400,000 AcadianaMLS

Property tax history

+39.6%/yr

Latest (2026): $2,874 · +0.0% YoY. Source: county tax records.