709-711 General Pershing St · New Orleans, LA 70115

$650,000

8 bd · 4.0 ba · 3,991 sqft · MultiFamily · 93 Days on market

Built 1940 Good condition $163/sqft · 7% below area Est $696k · 7% under

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Why this score? — see what drove the D+ 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 +14.9/30.0
• ARV discount +10.5/15.0
• DSCR +4.6/10.0
• 1% rule +4.1/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +2.1/5.0
• 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 MLS

Calling all Investors! BEST VALUE and BEST LOCATION UPTOWN! Solid 4plex, Family owned for 80+ years, very well maintained. Easily rented, 4 identical apartments featuring large separate bedrooms, wood floors thru-out. Windows replaced, electrical and plumbing updated. Kitchens and baths rehabbed in 2010. No siding. Stucco exterior and concrete walls mean very little maintenance. Each unit has several combo heat/AC units. Each apartment approximately 1000 sq ft, a rare spacious plus for tenants. Shed in rear contains additional storage and 2 laundry rooms for tenants' use.

Key facts

• Plumbing updated
• Wood floors
• Electrical updated

Tags

• WELL MAINTAINED
• WOOD FLOORS
• WINDOWS REPLACED
• ELECTRICAL UPDATED
• PLUMBING UPDATED
• KITCHENS REHABBED

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/2.0-bath units multifamily listed at $650k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $192 ($2k/yr) — positive. Per door: $96/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $593k (8.8% below list).
• Recommended offer: $592k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.6% 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 (-1.4%/yr); 280 active listings in the ZIP; solid renter incomes; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $5,929/mo this rent would consume 79% of the median local household income ($90k/yr) (locally 1756% 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 $4k of loan paydown is wiped out by about $20k 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 93 days — a 9% lower offer ($592k) 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: built in 1940 — 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 $591,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% 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. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.91% ✗
• Cap rate: 6.65%
• Cash-on-cash: 1.27%
• DSCR: 1.06
• GRM: 9.1

CMA / ARV

• ARV (median comp): $695,898
• List price: $650,000
• Delta: -6.60%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1104-06 Jena St	0.33mi	8/—	3,942 (-1%)	22mo	$514,000	$130	64
1420 Valence St	0.55mi	7/8.5 (-1)	4,556 (+14%)	23mo	$875,000	$192	12

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: -17.7%
• Equity multiple: 0.39×
• Total profit: $-110,391
• Equity at exit: $96,917

10-year hold

• IRR: -16.9%
• Equity multiple: 0.19×
• Total profit: $-147,175
• Equity at exit: $56,200

Cash invested: $182,000 (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 70115

• Rents YoY: -1.4%
• Active inventory: 280
• Price-to-rent: 18.3×

Monthly cashflow live

• Estimated rent: $5,929 high
• Mortgage (P&I): −$3,409
• Tax est. 1.5%: −$812 /mo · $9,750/yr
• Insurance: −$271
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,245
• Net cashflow: $192

Break-even live

Break-even rent $5,686

Max offer price $650,000

Occupancy floor 92%

Sensitivity live

Price	-10% $641	-5% $417	+0% $192	+5% $-33	+10% $-257
Rent	-10% $-276	-5% $-42	+0% $192	+5% $426	+10% $660
Rate	-1.0pp $519	-0.5pp $357	base $192	+0.5pp $23	+1.0pp $-148

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	2	$5,928
Total (2 units)			$5,929

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: $162,500
• Closing costs: $19,500
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $650,000 Active 93 DOM
2. 2026-06-18
   days on market $650,000 Active 90 DOM
3. 2026-06-17
   days on market $650,000 Active 89 DOM
4. 2026-06-16
   days on market $650,000 Active 88 DOM
5. 2026-06-15
   days on market $650,000 Active 87 DOM
6. 2026-06-13
   days on market $650,000 Active 85 DOM
7. 2026-06-10
   days on market $650,000 Active 82 DOM
8. 2026-06-09
   days on market $650,000 Active 81 DOM
9. 2026-06-08
   days on market $650,000 Active 80 DOM
10. 2026-06-07
    days on market $650,000 Active 79 DOM
11. 2026-06-05
    days on market $650,000 Active 76 DOM
12. 2026-06-03
    days on market $650,000 Active 75 DOM
13. 2026-06-02
    days on market $650,000 Active 74 DOM
14. 2026-06-01
    days on market $650,000 Active 73 DOM
15. 2026-05-31
    days on market $650,000 Active 72 DOM
16. 2026-03-20
    listed $650,000 Active 578-char remark

    Show marketing remark (578 chars)

    Calling all Investors! BEST VALUE and BEST LOCATION UPTOWN! Solid 4plex, Family owned for 80+ years, very well maintained. Easily rented, 4 identical apartments featuring large separate bedrooms, wood floors thru-out. Windows replaced, electrical and plumbing updated. Kitchens and baths rehabbed in 2010. No siding. Stucco exterior and concrete walls mean very little maintenance. Each unit has several combo heat/AC units. Each apartment approximately 1000 sq ft, a rare spacious plus for tenants. Shed in rear contains additional storage and 2 laundry rooms for tenants' use.

17. 2026-03-20
    listed $650,000 Active 578-char remark

    Show marketing remark (578 chars)

    Calling all Investors! BEST VALUE and BEST LOCATION UPTOWN! Solid 4plex, Family owned for 80+ years, very well maintained. Easily rented, 4 identical apartments featuring large separate bedrooms, wood floors thru-out. Windows replaced, electrical and plumbing updated. Kitchens and baths rehabbed in 2010. No siding. Stucco exterior and concrete walls mean very little maintenance. Each unit has several combo heat/AC units. Each apartment approximately 1000 sq ft, a rare spacious plus for tenants. Shed in rear contains additional storage and 2 laundry rooms for tenants' use.

ⓘ 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 6/10 Major FEMA zone X · 57% 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: $71,148
• − Mortgage interest: −$36,410
• − Property taxes: −$9,750
• − Insurance: −$3,250
• − Repairs & maintenance: −$5,692
• − Management: −$5,692
• − Depreciation: −$18,909
• Taxable loss: −$8,555
• Est. tax savings @ 24.0%: +$2,053
• After-tax cash flow: $4,356/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

This 4plex is in good condition with updated kitchens and bathrooms, wood flooring, and a well-maintained exterior. It offers a great investment opportunity with potential for rental value increase through landscaping and curb appeal improvements.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances curb appeal and can attract more tenants.
• Both Painting exterior walls — Fresh paint can improve the home's appearance and value.
• Both Landscaping and curb appeal improvements — Enhances curb appeal and can attract more tenants.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances curb appeal and can attract more tenants. ↑
• Both Painting exterior walls — Fresh paint can improve the home's appearance and value. ↑
• Both Landscaping and curb appeal improvements — Enhances curb appeal and can attract more tenants. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 31,183
• Household income: $90,182
• Rent vs Own: 45.7% rent · 54.3% own
• Severe rent burden: 1756.0

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 0.58)
• Race & ethnicity: White 59% Black 26% Two or more races 8% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 8% Italian 3% Slovak 3%
• Foreign-born: 5% · Canada, China
• Languages at home: 91% English-only · Spanish 4% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -272.08%
• Current HPI: 287.2138
• Rent YoY: ▼ -1.42%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-03-20 Listed $650,000 AcadianaMLS
• 2026-03-20 Listed $650,000 GSREIN