2846 Grand Route Saint John St · New Orleans, LA 70119

$595,000

24 bd · 16.0 ba · 4,069 sqft · MultiFamily · 86 Days on market

Built 1917 $146/sqft · 5% below area Est $629k · 5% 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 +22.9/30.0
• ARV discount +9.9/15.0
• DSCR +7.3/10.0
• 1% rule +5.7/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• 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 MLS

Set along iconic Grand Route St. John, just steps from Jazz Fest & the Fairgrounds in Faubourg St John and short walk or bike to Bayou St. John and City Park, this fourplex offers a prime location walkable to local restaurants, coffee shops, and neighborhood favorites along Esplanade Ave. This raised basement style property has 9' ceilings upstairs and 7.5' ceilings downstairs making for comfortable living on both floors. Filled with natural light throughout, the property features two upstairs shotgun-style units--2846 Unit A and 2846 1/2--each with a covered front porch and access to a shared rear deck. Downstairs, the layout includes two distinct units at 2846, including a larger unit (formerly used by the owner) with a large open living space, as well as 2846 Unit B, a well-designed stuido with an open living and kitchen layout. The oversized "L" shaped creates a huge backyard providing lots of green space along with a storage shed, while two off-street parking spots add everyday convenience. New A/C unit for upper right unit (2486 Unit A) adds to the property's overall comfort and efficiency. Good rents make this a solid investment or ideal as an owner-occupant opportunity for those looking to occupy an income property.

Key facts

• Covered front porch
• Huge backyard
• Shared rear deck

Tags

• PRIME LOCATION
• WALKABLE TO LOCAL RESTAURANTS
• COVERED FRONT PORCH
• SHARED REAR DECK
• LARGE OPEN LIVING SPACE
• HUGE BACKYARD

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1-bath units multifamily listed at $595k.

Deal economics

• At list price, monthly cash flow is $977 ($12k/yr) — positive. Per door: $244/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $595k).
• Recommended offer: $559k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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 soft (-0.2%/yr); 381 active listings in the ZIP; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $6,388/mo this rent would consume 144% of the median local household income ($53k/yr) (locally 3381% 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 $18k 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 86 days — a 6% lower offer ($559k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 29y 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 $182k; list at $595k implies a 226% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1917 — 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 $559,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% 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 1917 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.07% ✓
• Cap rate: 8.40%
• Cash-on-cash: 7.51%
• DSCR: 1.33
• GRM: 7.8

CMA / ARV

• ARV (median comp): $628,633
• List price: $595,000
• Delta: -5.35%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -8.9%
• Equity multiple: 0.68×
• Total profit: $-52,849
• Equity at exit: $88,716

10-year hold

• IRR: -4.0%
• Equity multiple: 0.77×
• Total profit: $-37,967
• Equity at exit: $51,445

Cash invested: $166,600 (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 70119

• Home prices YoY: -34.8%
• Rents YoY: -0.2%
• Active inventory: 381
• Price-to-rent: 31.0×

Monthly cashflow live

• Estimated rent: $6,388 high
• Mortgage (P&I): −$3,120
• Tax from tax record: −$635 /mo · $7,620/yr
• Insurance: −$248
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,341
• Net cashflow: $977

Break-even live

Break-even rent $5,151

Max offer price $595,000

Occupancy floor 80%

Sensitivity live

Price	-10% $1,314	-5% $1,145	+0% $977	+5% $808	+10% $640
Rent	-10% $472	-5% $725	+0% $977	+5% $1,229	+10% $1,482
Rate	-1.0pp $1,277	-0.5pp $1,128	base $977	+0.5pp $823	+1.0pp $666

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$6,388
Total (4 units)			$6,388

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: $148,750
• Closing costs: $17,850
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-21
   days on market $595,000 Active 86 DOM
2. 2026-06-18
   days on market $595,000 Active 83 DOM
3. 2026-06-17
   days on market $595,000 Active 82 DOM
4. 2026-06-16
   days on market $595,000 Active 81 DOM
5. 2026-06-15
   days on market $595,000 Active 80 DOM
6. 2026-06-13
   days on market $595,000 Active 78 DOM
7. 2026-06-10
   days on market $595,000 Active 75 DOM
8. 2026-06-09
   days on market $595,000 Active 74 DOM
9. 2026-06-08
   days on market $595,000 Active 73 DOM
10. 2026-06-07
    days on market $595,000 Active 72 DOM
11. 2026-06-05
    days on market $595,000 Active 69 DOM
12. 2026-06-03
    days on market $595,000 Active 68 DOM
13. 2026-06-02
    days on market $595,000 Active 67 DOM
14. 2026-06-01
    days on market $595,000 Active 66 DOM
15. 2026-05-31
    days on market $595,000 Active 65 DOM
16. 2026-05-08
    price $595,000 1257-char remark

    Show marketing remark (1275 chars)

    Set along iconic Grand Route St. John, just steps from Jazz Fest & the Fairgrounds in Faubourg St John and short walk or bike to Bayou St. John and City Park, this fourplex offers a prime location walkable to local restaurants, coffee shops, and neighborhood favorites along Esplanade Ave. This raised basement style property has 9' ceilings upstairs and 7.5' ceilings downstairs making for comfortable living on both floors. Filled with natural light throughout, the property features two upstairs shotgun-style units—2846 Unit A and 2846 1/2—each with a covered front porch and access to a shared rear deck. Downstairs, the layout includes two distinct units at 2846, including a larger unit (formerly used by the owner) with a large open living space, as well as 2846 Unit B, a well-designed stuido with an open living and kitchen layout. The oversized "L" shaped creates a huge backyard providing lots of green space along with a storage shed, while two off-street parking spots add everyday convenience. New A/C unit for upper right unit (2486 Unit A) adds to the property’s overall comfort and efficiency. Good rents make this a solid investment or ideal as an owner-occupant opportunity for those looking to occupy an income property.

17. 2026-05-08
    price $595,000 1275-char remark

    Show marketing remark (1275 chars)

    Set along iconic Grand Route St. John, just steps from Jazz Fest & the Fairgrounds in Faubourg St John and short walk or bike to Bayou St. John and City Park, this fourplex offers a prime location walkable to local restaurants, coffee shops, and neighborhood favorites along Esplanade Ave. This raised basement style property has 9' ceilings upstairs and 7.5' ceilings downstairs making for comfortable living on both floors. Filled with natural light throughout, the property features two upstairs shotgun-style units—2846 Unit A and 2846 1/2—each with a covered front porch and access to a shared rear deck. Downstairs, the layout includes two distinct units at 2846, including a larger unit (formerly used by the owner) with a large open living space, as well as 2846 Unit B, a well-designed stuido with an open living and kitchen layout. The oversized "L" shaped creates a huge backyard providing lots of green space along with a storage shed, while two off-street parking spots add everyday convenience. New A/C unit for upper right unit (2486 Unit A) adds to the property’s overall comfort and efficiency. Good rents make this a solid investment or ideal as an owner-occupant opportunity for those looking to occupy an income property.

18. 2026-03-27
    listed $625,000 Active 1257-char remark

    Show marketing remark (1275 chars)

    Set along iconic Grand Route St. John, just steps from Jazz Fest & the Fairgrounds in Faubourg St John and short walk or bike to Bayou St. John and City Park, this fourplex offers a prime location walkable to local restaurants, coffee shops, and neighborhood favorites along Esplanade Ave. This raised basement style property has 9' ceilings upstairs and 7.5' ceilings downstairs making for comfortable living on both floors. Filled with natural light throughout, the property features two upstairs shotgun-style units—2846 Unit A and 2846 1/2—each with a covered front porch and access to a shared rear deck. Downstairs, the layout includes two distinct units at 2846, including a larger unit (formerly used by the owner) with a large open living space, as well as 2846 Unit B, a well-designed stuido with an open living and kitchen layout. The oversized "L" shaped creates a huge backyard providing lots of green space along with a storage shed, while two off-street parking spots add everyday convenience. New A/C unit for upper right unit (2486 Unit A) adds to the property’s overall comfort and efficiency. Good rents make this a solid investment or ideal as an owner-occupant opportunity for those looking to occupy an income property.

19. 2026-03-27
    listed $625,000 Active 1275-char remark

    Show marketing remark (1275 chars)

    Set along iconic Grand Route St. John, just steps from Jazz Fest & the Fairgrounds in Faubourg St John and short walk or bike to Bayou St. John and City Park, this fourplex offers a prime location walkable to local restaurants, coffee shops, and neighborhood favorites along Esplanade Ave. This raised basement style property has 9' ceilings upstairs and 7.5' ceilings downstairs making for comfortable living on both floors. Filled with natural light throughout, the property features two upstairs shotgun-style units—2846 Unit A and 2846 1/2—each with a covered front porch and access to a shared rear deck. Downstairs, the layout includes two distinct units at 2846, including a larger unit (formerly used by the owner) with a large open living space, as well as 2846 Unit B, a well-designed stuido with an open living and kitchen layout. The oversized "L" shaped creates a huge backyard providing lots of green space along with a storage shed, while two off-street parking spots add everyday convenience. New A/C unit for upper right unit (2486 Unit A) adds to the property’s overall comfort and efficiency. Good rents make this a solid investment or ideal as an owner-occupant opportunity for those looking to occupy an income property.

20. 2024-08-09
    price $669,000
21. 1999-09-10
    soldstatus $182,500
22. 1999-09-10
    soldstatus $182,500
23. 1999-07-27
    listed $182,500
24. 1999-07-27
    listed $182,500
25. 1997-07-30
    soldstatus $139,500
26. 1997-06-18
    listed $149,500
27. 1997-06-18
    listed $149,500

ⓘ 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: $7,620 · $635/mo
• Projected year-2 tax: $7,620 · $635/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 7/10 Severe FEMA zone X · 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: $76,656
• − Mortgage interest: −$33,329
• − Property taxes: −$7,620
• − Insurance: −$3,772
• − Repairs & maintenance: −$6,132
• − Management: −$6,132
• − Depreciation: −$17,309
• Taxable income: $2,360
• Est. tax owed @ 24.0%: −$566
• After-tax cash flow: $11,156/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): 37,253
• Household income: $53,143
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 3381.0

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 0.64)
• Race & ethnicity: Black 44% White 40% Two or more races 10% Hispanic / Latino 9% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 8% Slovak 2% Romanian 1%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 1% Other Indo-European 0%

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

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

+298.0% since first listed

12 events — show timeline

• 2026-05-08 Price Changed $595,000 AcadianaMLS
• 2026-05-08 Price Changed $595,000 GSREIN
• 2026-03-27 Listed $625,000 GSREIN
• 2026-03-27 Listed $625,000 AcadianaMLS
• 2024-08-09 Price Changed $669,000 GSREIN
• 1999-09-10 Sold (Public Records) $182,500 Public Records
• 1999-09-10 Sold (MLS) $182,500 GSREIN
• 1999-07-27 Listed $182,500 AcadianaMLS
• 1999-07-27 Listed $182,500 GSREIN
• 1997-07-30 Sold (MLS) $139,500 GSREIN
• 1997-06-18 Listed $149,500 AcadianaMLS
• 1997-06-18 Listed $149,500 GSREIN

Property tax history

+3.7%/yr

Latest (2026): $7,620 · +1.1% YoY. Source: county tax records.