1831-33 Elysian Fields Ave · New Orleans, LA 70117

$215,000

4 bd · 2.0 ba · 1,638 sqft · MultiFamily public records · 38 Days on market

Built 1950 5,662 sqft lot $131/sqft · 24% below area Est $284k · 24% under

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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 +8.4/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Classic New Orleans shotgun double situated on an oversized 36 x 188 lot, offering incredible potential and flexibility. Each side features 2 bedrooms and 1 full bath, making this property ideal for investors or owner-occupants looking to offset their mortgage. Both units enjoy off-street parking with driveways that run the full length of the home - offering the opportunity to add gates for secure, private parking. The 1833 side showcases beuatiful sold hardwood floors throughout, along with timeless New Orleans architectural details, including decorative stained wood trim around doors. Built-in solid wood butler's pantries add both charm and functionality to each unit. The 1831 side al

Key facts

• Foundation piers
• Oversized lot
• Off-street parking

Tags

• OVERSIZED LOT
• OFF-STREET PARKING
• HARDWOOD FLOORS
• DECORATIVE STAINED WOOD TRIM
• FOUNDATION PIERS
• BREAKER BOX ELECTRICAL SYSTEMS

Property features AI

Exterior

• Home design: Duplex; 2 total units
• Construction: Wood siding construction; Composition roof
• Exterior features: Composition roof; Wood siding

Interior

• Heating & cooling: Window-unit cooling; Heating present (other)
• Interior features: Window-unit cooling; Other type of heating

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $215k.

Deal economics

• At list price, monthly cash flow is $902 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $215k).
• Recommended offer: $209k (3.0% 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 rising (+2.5%/yr); 587 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,874/mo this rent would consume 75% of the median local household income ($46k/yr) (locally 1988% 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 $1k of loan paydown is wiped out by about $6k 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 + 2.5% rent growth), your $60k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major 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 $208,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.34% ✓
• Cap rate: 11.70%
• Cash-on-cash: 19.30%
• DSCR: 1.86
• GRM: 6.2

CMA / ARV

• ARV (median comp): $283,969
• List price: $215,000
• Delta: -24.29%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1727 29 Marigny St	0.10mi	4/2.0	1,716 (+5%)	1mo	$285,000	$166	87
2211 13 Mandeville St	0.29mi	4/2.0	1,644 (+0%)	2mo	$195,000	$119	84
1834 36 Marigny St	0.05mi	4/2.0	1,508 (-8%)	2mo	$215,000	$143	83
2132 Touro St	0.28mi	4/2.0	1,550 (-5%)	6mo	$169,000	$109	73
2105 07 Arts St	0.45mi	4/3.0	1,598 (-2%)	3mo	$265,000	$166	68
2467/2469 N Tonti St	0.45mi	4/2.0	1,475 (-10%)	2mo	$175,000	$119	61
1552 54 N Derbigny St	0.64mi	4/3.0	1,681 (+3%)	5mo	$330,000	$196	58
2134 Annette St	0.45mi	4/4.0	1,816 (+11%)	3mo	$210,000	$116	51
1345 Saint Anthony St	0.49mi	5/2.5 (+1)	1,776 (+8%)	7mo	$60,000	$34	51
1923-25 Pauger St	0.48mi	4/2.0	1,879 (+15%)	4mo	$70,000	$37	50
1332 Port St	0.61mi	3/2.0 (-1)	1,475 (-10%)	6mo	$181,000	$123	44
832 36 Mandeville St	0.70mi	3/3.0 (-1)	1,851 (+13%)	4mo	$294,000	$159	34

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 · 2.49% rent growth · sell at horizon

5-year hold

• IRR: 9.0%
• Equity multiple: 1.35×
• Total profit: $21,092
• Equity at exit: $32,057

10-year hold

• IRR: 17.7%
• Equity multiple: 2.43×
• Total profit: $86,237
• Equity at exit: $18,589

Cash invested: $60,200 (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 70117

• Rents YoY: 2.5%
• Active inventory: 587
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $2,874 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$85 /mo · $1,023/yr
• Insurance: −$90
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$604
• Net cashflow: $902

Break-even live

Break-even rent $1,733

Max offer price $215,000

Occupancy floor 64%

Sensitivity live

Price	-10% $1,023	-5% $963	+0% $902	+5% $841	+10% $780
Rent	-10% $675	-5% $788	+0% $902	+5% $1,015	+10% $1,129
Rate	-1.0pp $1,010	-0.5pp $956	base $902	+0.5pp $846	+1.0pp $789

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,874
Total (2 units)			$2,874

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2220 N Prieur St New Orleans, LA	3.0	2.0	1334	$2,000	$1.50	24d	1	0.04mi
1710 Marigny St New Orleans, LA	3.0	2.0	1120	$1,750	$1.56	24d	1	0.08mi
1837 Touro St New Orleans, LA	3.0	1.0	1994	$2,000	$1.00	24d	1	0.16mi
2107 Elysian Fields Ave New Orleans, LA	4.0	2.0	1794	$1,650	$0.92	4d	1	0.20mi
2115 Elysian Fields Ave Unit 2115 New Orleans, LA	3.0	1.0	1100	$1,450	$1.32	24d	1	0.21mi
2115 Mandeville St New Orleans, LA	3.0	2.0	1400	$1,650	$1.18	24d	1	0.25mi
1923 N Robertson St New Orleans, LA	3.0	2.0	1051	$1,950	$1.86	4d	1	0.30mi
1938 N Johnson St Unit 38 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	24d	1	0.33mi
1936 N Johnson St Unit 36 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	24d	1	0.33mi
2920 Pauger St New Orleans, LA	4.0	2.0	1882	$1,995	$1.06	24d	1	0.39mi
2515 N Galvez St Unit 2515 New Orleans, LA	4.0	2.0	1200	$1,900	$1.58	24d	1	0.47mi
2515 N Galvez St New Orleans, LA	4.0	2.0	1200	$1,200	$1.00	11d	1	0.47mi
2522 N Galvez St New Orleans, LA	3.0	2.0	1105	$1,675	$1.52	24d	1	0.47mi
2524 N Galvez St New Orleans, LA	3.0	2.5	1102	$1,800	$1.63	18d	1	0.47mi
2556 N Tonti St New Orleans, LA	3.0	2.0	1100	$1,850	$1.68	17d	1	0.52mi
2338 Annette St Unit 1 New Orleans, LA	3.0	1.0	1150	$1,400	$1.22	20d	1	0.55mi
3228 Pauger St New Orleans, LA	5.0	2.0	1600	$2,100	$1.31	24d	1	0.57mi
2317 N Rampart St Unit 1272378P New Orleans, LA	3.0–6.0	2.0–4.0	1581	$4,154	$2.63	4d	2	0.58mi
1831 N Miro St New Orleans, LA	3.0	2.0	1882	$2,500	$1.33	44d	1	0.60mi
2322 Burgundy St Unit C New Orleans, LA	3.0	2.0	1250	$2,200	$1.76	24d	1	0.67mi
1245 Kerlerec St New Orleans, LA	3.0	2.0	1500	$2,500	$1.67	44d	1	0.71mi
1472 N Claiborne Ave New Orleans, LA	3.0	1.0	1312	$1,900	$1.45	17d	1	0.71mi
1247 Kerlerec St New Orleans, LA	3.0	2.0	1500	$2,500	$1.67	44d	1	0.71mi
1217 Kerlerec St Unit B New Orleans, LA	3.0	1.0	1300	$2,100	$1.62	4d	1	0.71mi
928 Kerlerec St New Orleans, LA	3.0	3.5	1684	$2,750	$1.63	4d	1	0.77mi
928 Kerlerec St New Orleans, LA	3.0	3.5	1684	$2,750	$1.63	4d	1	0.77mi
2817 Annette St New Orleans, LA	3.0	1.0	1100	$1,350	$1.23	24d	1	0.81mi
632 Mandeville St Unit 2B New Orleans, LA	4.0	4.5	1337	$4,500	$3.37	18d	1	0.81mi
1735 N Tonti St New Orleans, LA	3.0	1.0	1197	$1,650	$1.38	24d	1	0.82mi
1933 Industry St New Orleans, LA	3.0	2.0	1400	$1,595	$1.14	17d	1	0.85mi
1418 Royal St Unit 1418 New Orleans, LA	4.0	2.0	1300	$2,450	$1.88	24d	1	0.86mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	24d	1	0.87mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	44d	1	0.87mi
2152 Abundance St Unit 2152 New Orleans, LA	3.0	2.0	1100	$1,599	$1.45	4d	1	0.88mi
1231 Feliciana St New Orleans, LA	3.0	2.5	1869	$2,750	$1.47	44d	1	0.88mi
2310 George Nick Connor Dr New Orleans, LA	3.0	2.0	1050	$1,600	$1.52	24d	1	0.91mi
2114 Feliciana St Unit A New Orleans, LA	3.0	2.0	1134	$1,500	$1.32	24d	1	0.91mi
2114 Feliciana St Unit A New Orleans, LA	3.0	2.0	1134	$1,500	$1.32	17d	1	0.91mi
2338 40 Annette St New Orleans, LA	3.0	1.0	1150	$1,385	$1.20	21d	1	0.93mi
882 Montegut St New Orleans, LA	1.0–3.0	1.0–2.0	826	$2,575	$3.12	44d	7	0.94mi

Listing history 13 events

1. 2026-06-16
   statusdays on market $215,000 Pending 38 DOM
2. 2026-06-15
   days on market $215,000 Active 37 DOM
3. 2026-06-13
   days on market $215,000 Active 35 DOM
4. 2026-06-10
   days on market $215,000 Active 32 DOM
5. 2026-06-09
   days on market $215,000 Active 31 DOM
6. 2026-06-08
   days on market $215,000 Active 30 DOM
7. 2026-06-07
   days on market $215,000 Active 29 DOM
8. 2026-06-05
   days on market $215,000 Active 26 DOM
9. 2026-06-03
   days on market $215,000 Active 25 DOM
10. 2026-06-02
    days on market $215,000 Active 24 DOM
11. 2026-06-01
    days on market $215,000 Active 23 DOM
12. 2026-05-31
    days on market $215,000 Active 22 DOM
13. 2026-04-29
    listed $215,000 Active 1142-char remark

ⓘ 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: $1,023 · $85/mo
• Projected year-2 tax: $1,182 · $99/mo
• Expected delta: +$159/yr (+$13/mo · 15.6%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X · 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 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,488
• − Mortgage interest: −$12,043
• − Property taxes: −$1,023
• − Insurance: −$1,872
• − Repairs & maintenance: −$2,759
• − Management: −$2,759
• − Depreciation: −$6,255
• Taxable income: $7,776
• Est. tax owed @ 24.0%: −$1,866
• After-tax cash flow: $8,954/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): 25,652
• Household income: $45,764
• Rent vs Own: 47.8% rent · 52.2% own
• Severe rent burden: 1988.0

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: Majority Black (60%)
• Race & ethnicity: Black 60% White 30% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Lithuanian 5% Italian 1% Romanian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -177.22%
• Current HPI: 184.6061
• Rent YoY: ▲ 2.49%
• 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

4 events — show timeline

• 2026-06-16 Pending — AcadianaMLS
• 2026-05-29 Relisted — AcadianaMLS
• 2026-05-19 Pending — AcadianaMLS
• 2026-04-29 Listed $215,000 AcadianaMLS

Property tax history

+24.5%/yr

Latest (2026): $1,023 · +28.5% YoY. Source: county tax records.