2472 74 Vienna St · New Orleans, LA 70122

$350,000

4 bd · 2.0 ba · 2,595 sqft · MultiFamily public records · 40 Days on market

Built 2015 6,851 sqft lot $135/sqft · 18% below area Est $427k · 18% under · waterfront

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Why this score? — see what drove the C+ 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 +23.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.6/10.0
• 1% rule +5.1/10.0
• 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: 2 units. confirmed

Listing remarks

Well-maintained income-producing duplex in the Milneburg/Gentilly area offering strong rental potential and low-maintenance ownership. Built in 2015, this contemporary double features two spacious 3 bedroom, 2 bath units with independent bedroom layouts, in-unit laundry, generous storage, and off-street parking. Freshly painted interiors create a clean, modern feel throughout. The raised construction sits approximately 7 feet above grade, contributing to lower flood insurance costs and easier long-term maintenance. Separate electric and water meters provide added efficiency for property management. When fully occupied updated gross monthly rents would be $3,500. Conveniently located near th

Key facts

• Generous storage
• In-unit laundry
• Off-street parking

Tags

• INCOME-PRODUCING DUPLEX
• STRONG RENTAL POTENTIAL
• INDEPENDENT BEDROOM LAYOUTS
• IN-UNIT LAUNDRY
• GENEROUS STORAGE
• OFF-STREET PARKING

Property features AI

Finance

• Financial info: 2-unit multifamily property; Unit 2472 reported rent $1,800 (actual/total); Tenants pay electricity and water

Exterior

• Parking: Driveway; Off-street parking; Two parking spaces
• Utilities: Public water; Public sewer
• Home design: Single-story building
• Construction: Frame construction; HardiPlank siding; Shingle roof; Built as a raised structure
• Exterior features: Fence; City lot; Rectangular lot; Lot dimensions about 77 x 89

Interior

• Bedrooms: Unit 2472: 3 bedrooms; Unit 2474: 3 bedrooms
• Bathrooms: 4 full bathrooms total; Unit 2472: 2 full bathrooms; Unit 2474: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Average condition; Raised foundation
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $231 ($3k/yr) — positive. Per door: $115/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $350k).
• Recommended offer: $340k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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.
• Zoned schools: Benjamin Franklin Elem. Math And Science (math 12% / reading 23%, grade F, #479 of 646 statewide, top 75%, 747 students, 98% FRL, charter) — zoned schools average 98% FRL vs 68% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.6%/yr); 336 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,545/mo this rent would consume 86% of the median local household income ($49k/yr) (locally 2150% 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.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($340k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $99k; list at $350k implies a 254% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $339,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 1.01% ✓
• Cap rate: 8.55%
• Cash-on-cash: 8.05%
• DSCR: 1.36
• GRM: 8.2

CMA / ARV

• ARV (median comp): $427,483
• List price: $350,000
• Delta: -18.13%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4616-18 Marigny St	1.06mi	4/2.0	2,340 (-10%)	4mo	$290,000	$124	45
2137 39 Filmore Ave	0.67mi	5/3.5 (+1)	2,480 (-4%)	7mo	$268,500	$108	44
5506 Warrington Dr	1.00mi	4/3.0	2,569 (-1%)	21mo	$235,000	$91	42

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: -15.4%
• Equity multiple: 0.47×
• Total profit: $-52,264
• Equity at exit: $52,186

10-year hold

• IRR: -13.6%
• Equity multiple: 0.33×
• Total profit: $-66,145
• 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 70122

• Rents YoY: -0.6%
• Active inventory: 336
• Price-to-rent: 16.5×

Monthly cashflow live

• Estimated rent: $3,545 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$162 /mo · $1,944/yr
• Insurance: −$146
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$744
• Net cashflow: $231

Break-even live

Break-even rent $3,253

Max offer price $350,000

Occupancy floor 88%

Sensitivity live

Price	-10% $429	-5% $330	+0% $231	+5% $132	+10% $33
Rent	-10% $-49	-5% $91	+0% $231	+5% $371	+10% $511
Rate	-1.0pp $407	-0.5pp $320	base $231	+0.5pp $140	+1.0pp $48

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,546
Total (2 units)			$3,545

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: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6416 Baccich St New Orleans, LA	3.0	2.0	1908	$2,500	$1.31	45d	1	0.47mi
5172 Venus St Unit 5172 New Orleans, LA	3.0	2.5	1864	$2,450	$1.31	25d	1	0.57mi
6010 Pasteur Blvd New Orleans, LA	4.0	3.0	2010	$2,600	$1.29	19d	1	0.58mi
5900 Chatham Dr New Orleans, LA	3.0	2.0	1864	$2,500	$1.34	5d	1	1.17mi
3570 Gentilly Blvd New Orleans, LA	3.0	2.0	2390	$2,900	$1.21	45d	1	1.21mi
5024 Paris Ave New Orleans, LA	4.0	3.0	2116	$3,000	$1.42	17d	1	1.47mi

Listing history 17 events

1. 2026-06-17
   days on market $350,000 Active 40 DOM
2. 2026-06-16
   days on market $350,000 Active 39 DOM
3. 2026-06-15
   days on market $350,000 Active 38 DOM
4. 2026-06-13
   days on market $350,000 Active 36 DOM
5. 2026-06-10
   days on market $350,000 Active 33 DOM
6. 2026-06-09
   days on market $350,000 Active 32 DOM
7. 2026-06-08
   days on market $350,000 Active 31 DOM
8. 2026-06-07
   days on market $350,000 Active 30 DOM
9. 2026-06-05
   days on market $350,000 Active 27 DOM
10. 2026-06-03
    days on market $350,000 Active 26 DOM
11. 2026-06-02
    days on market $350,000 Active 25 DOM
12. 2026-06-01
    days on market $350,000 Active 24 DOM
13. 2026-05-31
    days on market $350,000 Active 23 DOM
14. 2026-05-08
    listed $350,000 Active 752-char remark
15. 2015-05-20
    historical
16. 2015-05-13
    listed $247,000 Active
17. 1987-09-09
    soldstatus $99,000

ⓘ 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: $1,944 · $162/mo
• Projected year-2 tax: $1,944 · $162/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 9/10 Extreme FEMA zone AE · 78% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°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: $42,540
• − Mortgage interest: −$19,605
• − Property taxes: −$1,944
• − Insurance: −$6,868
• − Repairs & maintenance: −$3,403
• − Management: −$3,403
• − Depreciation: −$10,182
• Taxable loss: −$2,867
• Est. tax savings @ 24.0%: +$688
• After-tax cash flow: $3,456/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): 35,253
• Household income: $49,455
• Rent vs Own: 40.5% rent · 59.5% own
• Severe rent burden: 2150.0

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 (69%)
• Race & ethnicity: Black 69% White 18% Two or more races 7% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 4% Italian 2% Slovak 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 5% Chinese 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: ▼ -222.37%
• Current HPI: 231.9921
• Rent YoY: ▼ -0.61%
• 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

+149.5% since first listed

3 events — show timeline

• 2015-05-20 Listing Removed — GSREIN
• 2015-05-13 Listed $247,000 GSREIN
• 1987-09-09 Sold (Public Records) $99,000 Public Records

Property tax history

+17.5%/yr

Latest (2026): $1,944 · -13.2% YoY. Source: county tax records.