2517 19 S Johnson St · New Orleans, LA 70125

$189,000

4 bd · 2.0 ba · 1,440 sqft · MultiFamily public records · 515 Days on market

Built 1922 $131/sqft · 17% above area Est $180k · 5% over

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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
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• ARV discount +5.2/15.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• 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 MLS

Own this income producing double. Live on one side and rent the other to help with note. 2beds and 2 baths on each side. Nice location with lots of new construction going on. schedule appointment today. please allow 24hr notice.

Key facts

• Built 1922
• Listed 515 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $189k.

Deal economics

• At list price, monthly cash flow is $447 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $189k).
• Recommended offer: $166k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.8% 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 flat; 217 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,687/mo this rent would consume 53% of the median local household income ($61k/yr) (locally 1270% 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.

Negotiation context

• It's been on market 515 days — a 12% lower offer ($166k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1922 — expect roof / HVAC / electrical / plumbing capex.
• 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 $166,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 515 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1922 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.42% ✓
• Cap rate: 11.84%
• Cash-on-cash: 19.81%
• DSCR: 1.88
• GRM: 5.9

CMA / ARV

• ARV (median comp): $179,770
• List price: $189,000
• Delta: 5.13%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2700-2702 S Johnson St	0.10mi	4/3.0	1,600 (+11%)	9mo	$315,000	$197	66
2620-22 Philip St	0.52mi	4/2.0	1,472 (+2%)	8mo	$159,000	$108	65
3717 S Johnson St	0.36mi	4/2.0	1,605 (+12%)	7mo	$145,000	$90	58
2809 11 Third St	0.41mi	4/2.0	1,404 (-2%)	23mo	$80,000	$57	58
2716-18 S Galvez St	0.14mi	4/3.0	1,600 (+11%)	18mo	$312,000	$195	56
2712-14 S Galvez St	0.14mi	4/3.0	1,600 (+11%)	19mo	$318,000	$199	56
2223 25 Felicity St	0.74mi	4/2.0	1,465 (+2%)	9mo	$155,000	$106	55
2113 15 S Liberty St	0.75mi	4/2.0	1,624 (+13%)	10mo	$228,500	$141	35

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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: -4.1%
• Equity multiple: 0.85×
• Total profit: $-7,877
• Equity at exit: $28,181

10-year hold

• IRR: 2.2%
• Equity multiple: 1.14×
• Total profit: $7,375
• Equity at exit: $16,341

Cash invested: $52,920 (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 70125

• Home prices YoY: -16.3%
• Rents YoY: 0.7%
• Active inventory: 217
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $2,687 high
• Mortgage (P&I): −$991
• Tax from tax record: −$179 /mo · $2,149/yr
• Insurance: −$79
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$564
• Net cashflow: $447

Break-even live

Break-even rent $2,121

Max offer price $189,000

Occupancy floor 78%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,686
Total (2 units)			$2,687

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3322 Third St New Orleans, LA	3.0	2.0	950	$1,450	$1.53	23d	1	0.05mi
2614 S Johnson St New Orleans, LA	3.0	2.0	1536	$2,079	$1.35	14d	1	0.06mi
2620 S Galvez St Apt 2B New Orleans, LA	3.0	1.0	1000	$1,100	$1.10	17d	1	0.07mi
2606 S Miro St New Orleans, LA	3.0	2.0	1450	$2,016	$1.39	23d	1	0.11mi
3218 Jackson Ave New Orleans, LA	3.0	2.0	1267	$1,750	$1.38	23d	1	0.15mi
2341 S Roman St Unit U New Orleans, LA	3.0	2.0	1000	$1,850	$1.85	23d	1	0.16mi
3122 2nd St New Orleans, LA	3.0	3.0	1206	$2,075	$1.72	23d	1	0.16mi
3617 Fourth St Unit A New Orleans, LA	3.0	2.0	1225	$1,995	$1.63	17d	1	0.16mi
3120 Second St New Orleans, LA	3.0	3.0	1256	$2,050	$1.63	23d	1	0.16mi
3632 First St Unit B New Orleans, LA	3.0	2.0	950	$1,750	$1.84	11d	1	0.18mi
3632 First St Unit A New Orleans, LA	3.0	2.0	950	$1,850	$1.95	11d	1	0.18mi
3108 Second St New Orleans, LA	3.0	3.0	1216	$2,100	$1.73	3d	1	0.18mi
2628 S Derbigny St New Orleans, LA	3.0	1.0	900	$1,500	$1.67	3d	1	0.22mi
3230 Toledano St New Orleans, LA	3.0	2.0	950	$1,750	$1.84	23d	1	0.24mi
2833 S Derbigny St New Orleans, LA	3.0	2.0	1500	$1,795	$1.20	23d	1	0.27mi
3208 Louisiana Avenue Pkwy New Orleans, LA	3.0	2.0	1391	$1,900	$1.37	17d	1	0.34mi
3514 S Miro St New Orleans, LA	3.0	2.0	1230	$1,950	$1.59	17d	1	0.35mi
3044 Louisiana Avenue Pkwy New Orleans, LA	3.0	2.0	1800	$1,900	$1.06	23d	1	0.39mi
3829 General Taylor St New Orleans, LA	3.0	1.0	1000	$1,300	$1.30	23d	1	0.42mi
4305 S Johnson St Unit 4305 New Orleans, LA	3.0	1.0	1175	$1,595	$1.36	11d	1	0.51mi
2722 Martin L King Bl New Orleans, LA	3.0	2.5	1350	$1,800	$1.33	23d	1	0.52mi
4206 S Derbigny St New Orleans, LA	3.0	1.0	1300	$1,600	$1.23	23d	1	0.55mi
1407 Magnolia St New Orleans, LA	3.0	2.0	1824	$1,500	$0.82	23d	1	0.57mi
3429 Clara St New Orleans, LA	3.0	2.0	1620	$2,350	$1.45	14d	1	0.57mi
2526 Martin Luther King Junior Blvd New Orleans, LA	3.0	2.0	1200	$2,200	$1.83	3d	1	0.62mi
3435 Magnolia St New Orleans, LA	3.0	1.0	1050	$1,500	$1.43	23d	1	0.63mi
1318 S Salcedo St Unit 101 New Orleans, LA	4.0	2.0	1152	$1,775	$1.54	17d	1	0.70mi
1318 S Salcedo St Unit 202 New Orleans, LA	4.0	2.0	1152	$1,975	$1.71	23d	1	0.70mi
4603 S Miro St New Orleans, LA	3.0	2.0	1650	$1,650	$1.00	23d	1	0.70mi
2717 Milan St New Orleans, LA	3.0	1.5	1850	$1,650	$0.89	14d	1	0.71mi
3636 Upperline St New Orleans, LA	3.0	1.0	1600	$1,975	$1.23	23d	1	0.72mi
2231 S Liberty St New Orleans, LA	3.0	3.5	1752	$2,000	$1.14	17d	1	0.72mi
2539 Amelia St New Orleans, LA	3.0	2.0	1296	$2,200	$1.70	23d	1	0.72mi
1614 Rev John Raphael Jr Way New Orleans, LA	3.0	2.0	1000	$1,500	$1.50	23d	1	0.72mi
4401 Elba St New Orleans, LA	3.0	2.0	1400	$1,850	$1.32	23d	1	0.72mi
4403 Elba St New Orleans, LA	3.0	2.0	1400	$1,800	$1.29	3d	1	0.72mi
4400 Elba St New Orleans, LA	3.0	2.0	1600	$1,875	$1.17	23d	1	0.73mi
2123 S Liberty St Unit 2125 New Orleans, LA	3.0	2.0	1500	$2,100	$1.40	3d	1	0.74mi
2318 Martin Luther King Junior Blvd New Orleans, LA	3.0	2.0	1400	$1,700	$1.21	23d	1	0.76mi
2225 2nd St New Orleans, LA	3.0	2.0	1100	$1,800	$1.64	23d	1	0.78mi

Listing history 22 events

1. 2026-06-15
   days on market $189,000 Active 515 DOM
2. 2026-06-13
   days on market $189,000 Active 513 DOM
3. 2026-06-10
   days on market $189,000 Active 510 DOM
4. 2026-06-09
   days on market $189,000 Active 509 DOM
5. 2026-06-08
   days on market $189,000 Active 508 DOM
6. 2026-06-07
   days on market $189,000 Active 507 DOM
7. 2026-06-05
   days on market $189,000 Active 504 DOM
8. 2026-06-03
   days on market $189,000 Active 503 DOM
9. 2026-06-02
   days on market $189,000 Active 502 DOM
10. 2026-06-01
    days on market $189,000 Active 501 DOM
11. 2026-05-31
    days on market $189,000 Active 500 DOM
12. 2026-03-04
    price $189,000 228-char remark

    Show marketing remark (228 chars)

    Own this income producing double. Live on one side and rent the other to help with note. 2beds and 2 baths on each side. Nice location with lots of new construction going on. schedule appointment today. please allow 24hr notice.

13. 2026-03-04
    price $189,000 228-char remark

    Show marketing remark (228 chars)

    Own this income producing double. Live on one side and rent the other to help with note. 2beds and 2 baths on each side. Nice location with lots of new construction going on. schedule appointment today. please allow 24hr notice.

14. 2025-01-14
    listed $190,000 Active 228-char remark

    Show marketing remark (228 chars)

    Own this income producing double. Live on one side and rent the other to help with note. 2beds and 2 baths on each side. Nice location with lots of new construction going on. schedule appointment today. please allow 24hr notice.

15. 2025-01-14
    listed $190,000 Active 228-char remark

    Show marketing remark (228 chars)

    Own this income producing double. Live on one side and rent the other to help with note. 2beds and 2 baths on each side. Nice location with lots of new construction going on. schedule appointment today. please allow 24hr notice.

16. 2024-09-09
    price $205,000
17. 2024-05-26
    price $199,000
18. 2024-05-13
    listed $205,000 Active
19. 2023-02-17
    soldstatus $175,000
20. 2022-12-04
    listed $182,000
21. 2022-08-18
    soldstatus $155,500
22. 2022-07-20
    listed $149,000

ⓘ 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: $2,149 · $179/mo
• Projected year-2 tax: $2,149 · $179/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 AE · 78% 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: $32,244
• − Mortgage interest: −$10,587
• − Property taxes: −$2,149
• − Insurance: −$6,064
• − Repairs & maintenance: −$2,580
• − Management: −$2,580
• − Depreciation: −$5,498
• Taxable income: $2,787
• Est. tax owed @ 24.0%: −$669
• After-tax cash flow: $4,698/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): 17,821
• Household income: $61,174
• Rent vs Own: 53.3% rent · 46.7% own
• Severe rent burden: 1270.0

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: Black 51% White 32% Hispanic / Latino 9% Two or more races 9% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 8% Romanian 1% Slovak 1%
• Foreign-born: 7% · Canada, China
• Languages at home: 90% English-only · Spanish 6% French/Haitian/Cajun 1% Chinese 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: ▼ -49.68%
• Current HPI: 255.5998
• Rent YoY: ▲ 0.73%
• 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

+26.8% since first listed

11 events — show timeline

• 2026-03-04 Price Changed $189,000 AcadianaMLS
• 2026-03-04 Price Changed $189,000 GSREIN
• 2025-01-14 Listed $190,000 GSREIN
• 2025-01-14 Listed $190,000 AcadianaMLS
• 2024-09-09 Price Changed $205,000 GSREIN
• 2024-05-26 Price Changed $199,000 GSREIN
• 2024-05-13 Listed $205,000 AcadianaMLS
• 2023-02-17 Sold (Public Records) $175,000 Public Records
• 2022-12-04 Listed $182,000 AcadianaMLS
• 2022-08-18 Sold (Public Records) $155,500 Public Records
• 2022-07-20 Listed $149,000 AcadianaMLS

Property tax history

+18.9%/yr

Latest (2026): $2,149 · +1.1% YoY. Source: county tax records.