2400-02 Dumaine St · New Orleans, LA 70119

$198,900

None bd · None ba · 1,917 sqft · MultiFamily · 182 Days on market

Good condition 2,613 sqft lot $104/sqft · 46% below area Est $367k · 46% under

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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 +20.8/30.0
• ARV discount +15.0/15.0
• DSCR +6.6/10.0
• 1% rule +5.5/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

This double is part of a portfolio package of of 5 rental units (3 properties). Contact agent for details. The property is currently leased, sits on a corner lot only a half-mile from Whole Foods and Mid-City Restaurants, and 4-blocks to Esplanade Blvd. Great opportunity for investment, live in one side and rent the second side, or convert this into a single family home.

Key facts

• 2,613 sq ft lot
• Listed 181 days

What this means for you Summary

Snapshot

• This is a multifamily listed at $199k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $206 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $175k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 4.3% 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 (-0.2%/yr); 565 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 52d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,085/mo this rent would consume 47% of the median local household income ($53k/yr) — 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.

Negotiation context

• It's been on market 182 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 16y ago; this cycle's ask has dropped $26k (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 $175,032 (12.0% below list)

Questions for the listing agent

1. It's been on market 182 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.05% ✓
• Cap rate: 7.94%
• Cash-on-cash: 5.88%
• DSCR: 1.26
• GRM: 7.9

CMA / ARV

• ARV (median comp): $366,738
• List price: $198,900
• Delta: -45.77%
• 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
1216 N Miro St	0.26mi	4/2.0	1,933 (+1%)	2mo	$342,000	$177	84
1022 N Miro St	0.15mi	4/2.0	2,000 (+4%)	3mo	$194,000	$97	84
2613 15 St Philip St	0.19mi	6/2.0	1,810 (-6%)	6mo	$239,000	$132	77
2613-15 St Philip St	0.20mi	—/—	1,810 (-6%)	6mo	$239,000	$132	76
2912-14 St. Peter St	0.47mi	—/—	1,912 (-0%)	6mo	$290,000	$152	72
2912 14 St. Peter St	0.48mi	4/2.0	1,912 (-0%)	6mo	$290,000	$152	72
2617 Toulouse St	0.27mi	4/4.0	1,750 (-9%)	5mo	$215,000	$123	69
2620 22 Bienville St	0.47mi	5/2.0	1,785 (-7%)	4mo	$115,000	$64	63
2216-18 Saint Louis St	0.31mi	4/2.0	1,689 (-12%)	5mo	$335,000	$198	61
1447 49 N Roman St	0.54mi	2/2.0	1,783 (-7%)	6mo	$217,800	$122	58
1447-49 N Roman St	0.54mi	—/—	1,783 (-7%)	6mo	$217,800	$122	58
1561-63 N Prieur St	0.64mi	4/4.0	2,078 (+8%)	1mo	$335,000	$161	56

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: -12.9%
• Equity multiple: 0.55×
• Total profit: $-25,133
• Equity at exit: $29,657

10-year hold

• IRR: -9.6%
• Equity multiple: 0.49×
• Total profit: $-28,292
• Equity at exit: $17,197

Cash invested: $55,692 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 91 active · 33 under contract
• Months of supply: 22.8 mo (4%/mo absorbed)
• Median asking: $275,000 ($150/sqft)
• Median days on market: 16 d
• This list price: 14% of active listings are priced below it
• ARV vs active asking: +27.4% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 70119

• Home prices YoY: -34.8%
• Rents YoY: -0.2%
• Active inventory: 565
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,085 high
• Mortgage (P&I): −$1,043
• Tax est. 1.5%: −$249 /mo · $2,984/yr
• Insurance: −$83
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $206

Break-even live

Break-even rent $1,824

Max offer price $198,900

Occupancy floor 85%

Sensitivity live

Price	-10% $344	-5% $275	+0% $206	+5% $138	+10% $69
Rent	-10% $42	-5% $124	+0% $206	+5% $289	+10% $371
Rate	-1.0pp $306	-0.5pp $257	base $206	+0.5pp $155	+1.0pp $102

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: $49,725
• Closing costs: $5,967
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
913 N Tonti St New Orleans, LA	3.0	2.0	1131	$1,550	$1.37	14d	1	0.01mi
913 N Tonti St New Orleans, LA	3.0	2.0	1131	$1,550	$1.37	10d	1	0.01mi
921 N Miro St New Orleans, LA	2.0	1.0	813	$1,275	$1.57	52d	1	0.05mi
921 N Miro St New Orleans, LA	2.0	1.0	813	$1,350	$1.66	119d	1	0.05mi
2426 Saint Philip St New Orleans, LA	2.0	1.0	849	$1,450	$1.71	164d	1	0.06mi
2502 Dumaine St New Orleans, LA	2.0	1.0	966	$1,195	$1.24	164d	1	0.08mi
2502 Dumaine St New Orleans, LA	2.0	1.0	966	$1,195	$1.24	143d	1	0.08mi
2504 Dumaine St New Orleans, LA	3.0	2.0	1650	$3,500	$2.12	10d	1	0.08mi
2506 Dumaine St New Orleans, LA	3.0	2.0	1734	$2,500	$1.44	10d	1	0.09mi
2230 Dumaine St New Orleans, LA	2.0	2.0	983	$2,000	$2.03	164d	1	0.09mi
2230 Dumaine St New Orleans, LA	2.0	2.0	983	$1,700	$1.73	25d	1	0.09mi
2423 Saint Ann St Unit 2423 New Orleans, LA	3.0	1.0	1000	$1,500	$1.50	10d	1	0.09mi
2506 Saint Philip St New Orleans, LA	2.0	2.0	1020	$1,400	$1.37	108d	1	0.09mi
2506 Saint Philip St New Orleans, LA	2.0	2.0	1020	$1,450	$1.42	160d	1	0.09mi
2516 Dumaine St Unit C New Orleans, LA	2.0	1.0	825	$1,200	$1.45	164d	1	0.11mi
2516 Dumaine St Unit A New Orleans, LA	2.0	1.0	825	$1,200	$1.45	10d	1	0.11mi
2214 Dumaine St New Orleans, LA	2.0	1.0	1176	$1,600	$1.36	164d	1	0.11mi
2332 Ursulines Ave Apt A New Orleans, LA	2.0	1.0	950	$1,295	$1.36	17d	1	0.11mi
2332 Ursulines Ave New Orleans, LA	2.0	1.0	1000	$1,299	$1.30	1d	1	0.11mi
2332 Ursulines Ave Unit B New Orleans, LA	2.0	1.0	925	$1,425	$1.54	138d	1	0.11mi
2332 Ursulines Ave Apt A New Orleans, LA	2.0	1.0	700	$1,200	$1.71	138d	1	0.11mi
2332 Ursulines Ave Unit B New Orleans, LA	2.0	1.0	925	$1,399	$1.51	133d	1	0.11mi
2332 Ursulines Ave Unit B New Orleans, LA	2.0	1.0	950	$1,400	$1.47	17d	1	0.11mi
2332 Ursulines Ave Unit C New Orleans, LA	2.0	1.0	950	$1,350	$1.42	17d	1	0.11mi
2332 Ursulines Ave Apt A New Orleans, LA	2.0	1.0	950	$1,295	$1.36	10d	1	0.11mi
2332 Ursulines Ave New Orleans, LA	2.0	1.0	1000	$1,299	$1.30	23d	1	0.11mi
2332 Ursulines Ave Unit B New Orleans, LA	2.0	1.0	700	$1,400	$2.00	164d	1	0.11mi
2332 Ursulines Ave Unit C New Orleans, LA	2.0	1.0	950	$1,350	$1.42	10d	1	0.11mi
2332 Ursulines Ave Unit B New Orleans, LA	2.0	1.0	950	$1,400	$1.47	10d	1	0.11mi
2219 St Philip St New Orleans, LA	3.0	2.0	1000	$1,500	$1.50	52d	1	0.12mi
2539 Dumaine St New Orleans, LA	1.0	1.0	567	$1,200	$2.12	123d	1	0.12mi
2302 Ursulines Ave Unit A New Orleans, LA	2.0	1.0	945	$1,350	$1.43	10d	1	0.12mi
2300 Ursulines Ave Unit A New Orleans, LA	2.0	1.0	945	$1,300	$1.38	10d	1	0.13mi
2302 Ursulines Ave Unit B New Orleans, LA	2.0	1.0	924	$1,700	$1.84	45d	1	0.13mi
2546 Saint Philip St New Orleans, LA	2.0	1.0	815	$1,195	$1.47	1d	1	0.15mi
2129 Dumaine St New Orleans, LA	3.0	2.0	1226	$1,850	$1.51	144d	1	0.15mi
2543 Saint Ann St New Orleans, LA	2.0	2.0	880	$1,650	$1.88	143d	1	0.15mi
2543 Saint Ann St New Orleans, LA	2.0	2.0	880	$1,650	$1.88	144d	1	0.15mi
1015 N Galvez St New Orleans, LA	2.0	1.0	—	$1,550	—	51d	1	0.15mi
1017 N Galvez St New Orleans, LA	2.0	1.0	900	$1,550	$1.72	34d	1	0.15mi

Property features AI

Exterior

• Parking: No designated parking
• Home design: Duplex2 total units
• Construction: Composition roofOther construction materials
• Exterior features: Composition roofOther construction materials

Interior

• Heating & cooling: Central heatingCentral air conditioning
• Interior features: Central heatingCentral air conditioning

Listing history 50 events

1. 2026-10-27
   days on market $198,900 Active 182 DOM
2. 2026-10-26
   days on market $198,900 Active 181 DOM
3. 2026-10-26
   days on market $198,900 Active 180 DOM
4. 2026-10-24
   days on market $198,900 Active 179 DOM
5. 2026-10-23
   days on market $198,900 Active 178 DOM
6. 2026-10-22
   days on market $198,900 Active 177 DOM
7. 2026-10-21
   days on market $198,900 Active 176 DOM
8. 2026-10-20
   days on market $198,900 Active 175 DOM
9. 2026-10-19
   days on market $198,900 Active 174 DOM
10. 2026-10-18
    days on market $198,900 Active 173 DOM
11. 2026-10-17
    days on market $198,900 Active 172 DOM
12. 2026-10-16
    days on market $198,900 Active 171 DOM
13. 2026-10-15
    days on market $198,900 Active 170 DOM
14. 2026-10-14
    days on market $198,900 Active 169 DOM
15. 2026-10-13
    days on market $198,900 Active 168 DOM
16. 2026-10-12
    days on market $198,900 Active 167 DOM
17. 2026-10-11
    days on market $198,900 Active 166 DOM
18. 2026-10-10
    days on market $198,900 Active 165 DOM
19. 2026-10-09
    days on market $198,900 Active 164 DOM
20. 2026-10-08
    days on market $198,900 Active 163 DOM
21. 2026-10-07
    days on market $198,900 Active 162 DOM
22. 2026-10-07
    days on market $198,900 Active 161 DOM
23. 2026-10-05
    days on market $198,900 Active 160 DOM
24. 2026-10-04
    days on market $198,900 Active 159 DOM
25. 2026-10-04
    days on market $198,900 Active 158 DOM
26. 2026-10-02
    days on market $198,900 Active 157 DOM
27. 2026-10-01
    days on market $198,900 Active 156 DOM
28. 2026-09-30
    days on market $198,900 Active 155 DOM
29. 2026-09-29
    days on market $198,900 Active 154 DOM
30. 2026-09-28
    days on market $198,900 Active 153 DOM
31. 2026-09-27
    days on market $198,900 Active 152 DOM
32. 2026-09-25
    days on market $198,900 Active 150 DOM
33. 2026-09-24
    days on market $198,900 Active 149 DOM
34. 2026-09-23
    days on market $198,900 Active 148 DOM
35. 2026-09-22
    days on market $198,900 Active 147 DOM
36. 2026-09-21
    days on market $198,900 Active 146 DOM
37. 2026-09-20
    days on market $198,900 Active 145 DOM
38. 2026-09-19
    days on market $198,900 Active 144 DOM
39. 2026-09-17
    days on market $198,900 Active 142 DOM
40. 2026-09-16
    days on market $198,900 Active 141 DOM
41. 2026-09-15
    days on market $198,900 Active 140 DOM
42. 2026-09-14
    days on market $198,900 Active 139 DOM
43. 2026-09-13
    days on market $198,900 Active 138 DOM
44. 2026-09-12
    days on market $198,900 Active 137 DOM
45. 2026-09-11
    days on market $198,900 Active 136 DOM
46. 2026-09-05
    days on market $198,900 Active 130 DOM
47. 2026-09-04
    days on market $198,900 Active 129 DOM
48. 2026-09-03
    days on market $198,900 Active 128 DOM
49. 2026-08-31
    days on market $198,900 Active 125 DOM
50. 2026-08-29
    days on market $198,900 Active 123 DOM

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

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 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,022
• − Mortgage interest: −$11,141
• − Property taxes: −$2,984
• − Insurance: −$1,792
• − Repairs & maintenance: −$2,002
• − Management: −$2,002
• − Depreciation: −$5,786
• Taxable loss: −$685
• Est. tax savings @ 24.0%: +$164
• After-tax cash flow: $2,639/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab Est. rehab $9,585–$28,755 screening

This single-family home is in good condition with some cosmetic updates needed. The property is located in a desirable area and has the potential to be a great investment.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of updating
• Minor bathroom fixtures — basic and could be replaced

Value-add opportunities

• Both update kitchen cabinets and appliances — modernizing the kitchen would appeal to both buyers and renters ↑
• Both replace basic windows with energy-efficient ones — improving the home's energy efficiency would increase its value ↑
• Both paint interior walls — fresh paint would improve the home's curb appeal and interior aesthetics ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 22/100

Zoned Schools

Elementary Mary Bethune Elementary Literature/technology F LA #415/646 Nat'l #32,000/41,679

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

A Composite livability gradescore 81/100

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 · 513,025 people
• City population: 338,817
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 37,253
• Household income: $53,143
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 13% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Black 44% White 40% Two or more races 10% Hispanic / Latino 9% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 1% Other Indo-European 0%

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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: ▼ -135.38%
• Current HPI: 253.1929
• Rent YoY: ▼ -0.20%
• Metro: New Orleans-Metairie, LA
• State GDP YoY: ▲ 3.29%
• F500 in state: 10

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Industry mix (Fortune 500 HQ in LA)

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

Property features AI

Exterior

• Parking: No designated parking
• Home design: Duplex2 total units
• Construction: Composition roofOther construction materials
• Exterior features: Composition roofOther construction materials

Interior

• Heating & cooling: Central heatingCentral air conditioning
• Interior features: Central heatingCentral air conditioning

Price history

+698.8% since first listed

11 events — show timeline

• 2026-05-14 Price Changed $198,900 AcadianaMLS
• 2026-04-28 Listed $224,900 AcadianaMLS
• 2025-04-22 Price Changed $194,900 AcadianaMLS
• 2025-01-20 Price Changed $198,900 AcadianaMLS
• 2024-12-27 Listed $248,900 AcadianaMLS
• 2024-04-04 Listed $299,900 AcadianaMLS
• 2023-10-20 Rental Removed $1,200 LEASESTAR
• 2023-09-14 Price Changed $1,200 LEASESTAR
• 2023-08-30 Listed for Rent $1,300 LEASESTAR
• 2023-01-24 Listed $199,000 AcadianaMLS
• 2010-01-06 Listed $24,900 AcadianaMLS