2567 N Prieur St · New Orleans, LA 70117

$199,000

8 bd · 4.0 ba · 3,484 sqft · MultiFamily · 3 Days on market

Built 1937 Est $300k · 34% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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: 4 units. confirmed

Listing remarks

Discover a rare opportunity to own a large 4-unit multi-family property in a high-demand New Orleans location! Each spacious unit offers generous floor plans and strong rental potential. With a relatively new roof and siding, much of the heavy lifting has already been done — leaving the perfect opportunity for an investor to add value and gain instant equity through light improvements and cosmetic upgrades. Situated just minutes from Historic Marigny, the French Quarter, and major transit lines, this property provides easy access to all the culture, dining, and nightlife that make New Orleans unique. Whether you’re looking to launch your investment portfolio or expand with a cas

Key facts

• New siding
• New roof
• Built 1937

Tags

• 4 UNIT MULTI-FAMILY PROPERTY
• STRONG RENTAL POTENTIAL
• NEW ROOF
• NEW SIDING
• CLOSE PROXIMITY TO MARIGNY

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $199k.

Deal economics

• At list price, monthly cash flow is $3k ($39k/yr) — positive. Per door: $822/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $199k).
• Cap rate 26.1% 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); 581 active listings in the ZIP; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $5,904/mo this rent would consume 155% 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 $56k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 11 sale attempts since 22y ago 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.
• Current owner paid $150k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1937 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $199,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1937 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.97% ✓
• Cap rate: 26.13%
• Cash-on-cash: 70.83%
• DSCR: 4.15
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $299,624
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1736-38 Louisa St	0.54mi	8/4.0	3,568 (+2%)	14mo	$340,000	$95	59
2305-2307 Frenchmen St	0.66mi	8/4.0	3,500 (+0%)	12mo	$144,000	$41	59
1506-08 Spain St	0.43mi	8/4.0	3,224 (-8%)	13mo	$205,000	$64	57
2516-18 N Roman St	0.13mi	8/—	3,060 (-12%)	23mo	$263,000	$86	55
2032-34 Elysian Fields Ave	0.56mi	8/4.0	3,336 (-4%)	15mo	$310,000	$93	54
2255 57 N Miro St	0.47mi	7/4.0 (-1)	3,220 (-8%)	20mo	$287,500	$89	44
1928-30 Desire St	0.65mi	8/2.0	3,528 (+1%)	20mo	$143,350	$41	43
1416 18 Franklin Ave	0.34mi	8/8.5	3,780 (+8%)	15mo	$75,000	$20	39
5624-26 Saint Claude St	0.69mi	7/— (-1)	2,971 (-15%)	22mo	$324,000	$109	20

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: 69.9%
• Equity multiple: 4.13×
• Total profit: $174,301
• Equity at exit: $29,672

10-year hold

• IRR: 73.7%
• Equity multiple: 8.35×
• Total profit: $409,627
• Equity at exit: $17,206

Cash invested: $55,720 (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: 581
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $5,904 high
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,240
• Net cashflow: $3,289

Break-even live

Break-even rent $1,741

Max offer price $199,000

Occupancy floor 39%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$5,904
Total (4 units)			$5,904

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2025-10-31
   status Pending
2. 2025-10-28
   listed $199,000 Active
3. 2025-10-28
   listed $199,000 Active
4. 2021-08-12
   listed $250,000
5. 2016-04-20
   listed $265,000
6. 2012-07-06
   soldstatus $150,000
7. 2012-04-10
   listed $199,000
8. 2012-04-10
   listed $199,000
9. 2010-09-22
   listed $20,500
10. 2010-03-10
    listed $57,000
11. 2009-09-22
    listed $206,900
12. 2006-07-05
    listed $70,000
13. 2004-08-05
    listed $120,000

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

Taxation est. · year 1

• Rental income: $70,848
• − Mortgage interest: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$995
• − Repairs & maintenance: −$5,668
• − Management: −$5,668
• − Depreciation: −$5,789
• Taxable income: $38,596
• Est. tax owed @ 24.0%: −$9,263
• After-tax cash flow: $30,204/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

+65.8% since first listed

13 events — show timeline

• 2025-10-31 Pending — GSREIN
• 2025-10-28 Listed $199,000 GSREIN
• 2025-10-28 Listed $199,000 AcadianaMLS
• 2021-08-12 Listed $250,000 AcadianaMLS
• 2016-04-20 Listed $265,000 AcadianaMLS
• 2012-07-06 Sold (MLS) $150,000 GSREIN
• 2012-04-10 Listed $199,000 AcadianaMLS
• 2012-04-10 Listed $199,000 GSREIN
• 2010-09-22 Listed $20,500 AcadianaMLS
• 2010-03-10 Listed $57,000 AcadianaMLS
• 2009-09-22 Listed $206,900 AcadianaMLS
• 2006-07-05 Listed $70,000 AcadianaMLS
• 2004-08-05 Listed $120,000 AcadianaMLS