1904 06 Dumaine St · New Orleans, LA 70116

$165,000

None bd · None ba · 1,763 sqft · MultiFamily · 76 Days on market

Built 1920 Poor condition $94/sqft · 58% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Schools +1.6/10.0
• Condition / age +1.0/5.0
• 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

This historic Treme double is now available for sale, offering a rare opportunity to restore a piece of New Orleans' architectural heritage. Currently gutted and down to the studs, this property is a blank canvas ready to be brought back to its original beauty. Zoned HU-RD2, it provides excellent flexibility for your next renovation project in one of the city's most vibrant and storied neighborhoods. This property qualifies for Historic Tax Credit - call for more info!

Key facts

• Built 1920
• Listed 76 days

What this means for you Summary

Snapshot

• This is a multifamily listed at $165k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $165k).
• Recommended offer: $155k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.5% 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 flat; 351 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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 $2,872/mo this rent would consume 66% of the median local household income ($52k/yr) (locally 1001% 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 $5k 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 + 0.2% rent growth), your $46k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($155k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $155,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.74% ✓
• Cap rate: 14.50%
• Cash-on-cash: 29.31%
• DSCR: 2.30
• GRM: 4.8

CMA / ARV

• ARV (median comp): $394,296
• List price: $165,000
• Delta: -58.15%
• 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
1432-1434 Ursulines Ave	0.27mi	4/1.0	1,888 (+7%)	6mo	$228,000	$121	71
1447-49 N Roman St	0.68mi	—/—	1,783 (+1%)	2mo	$217,800	$122	65
1447 49 N Roman St	0.68mi	2/2.0	1,783 (+1%)	2mo	$217,800	$122	65
917 N Prieur St	0.59mi	4/2.0	1,700 (-4%)	4mo	$315,000	$185	64
1919-1921 Bayou Rd	0.62mi	2/2.0	1,730 (-2%)	6mo	$127,000	$73	63
1820 22 Dauphine St	0.43mi	2/3.0	1,908 (+8%)	6mo	$725,000	$380	61
1923-25 Pauger St	0.67mi	4/2.0	1,879 (+7%)	4mo	$70,000	$37	55
1552 54 N Derbigny St	0.72mi	4/3.0	1,681 (-5%)	5mo	$330,000	$196	54
1428-1430 Chartres St	0.52mi	4/3.0	2,011 (+14%)	2mo	$556,000	$276	51
6004 06 Dauphine Sq	0.56mi	6/2.0	1,976 (+12%)	4mo	$224,000	$113	50
1932-34 Dauphine St	0.51mi	3/3.0	1,990 (+13%)	6mo	$625,000	$314	50
2013-15 Conti St	0.69mi	4/2.0	1,610 (-9%)	5mo	$65,000	$40	49

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 · 0.18% rent growth · sell at horizon

5-year hold

• IRR: 20.5%
• Equity multiple: 1.81×
• Total profit: $37,246
• Equity at exit: $24,602

10-year hold

• IRR: 26.7%
• Equity multiple: 3.04×
• Total profit: $94,410
• Equity at exit: $14,266

Cash invested: $46,200 (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 70116

• Home prices YoY: -34.5%
• Rents YoY: 0.2%
• Active inventory: 351
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $2,872 high
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$603
• Net cashflow: $1,128

Break-even live

Break-even rent $1,443

Max offer price $165,000

Occupancy floor 56%

Sensitivity live

Price	-10% $1,242	-5% $1,185	+0% $1,128	+5% $1,071	+10% $1,014
Rent	-10% $901	-5% $1,015	+0% $1,128	+5% $1,242	+10% $1,355
Rate	-1.0pp $1,211	-0.5pp $1,170	base $1,128	+0.5pp $1,086	+1.0pp $1,042

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1021 Henriette Delille St New Orleans, LA	3.0	2.0	2012	$2,250	$1.12	18d	1	0.15mi
618 N Rampart St #204 New Orleans, LA	3.0	2.5	1904	$4,500	$2.36	45d	1	0.17mi
734 Ursulines Ave New Orleans, LA	3.0	2.0	1340	$2,800	$2.09	45d	1	0.26mi
841 Royal St Unit 3A New Orleans, LA	2.0	2.0	1266	$3,995	$3.16	45d	1	0.27mi
1022 Barracks St New Orleans, LA	1.0–2.0	1.0–2.0	1233	$4,400	$3.57	45d	1	0.28mi
824 Royal St Unit G New Orleans, LA	2.0	2.0	2080	$3,300	$1.59	45d	1	0.28mi
1301 N Rampart St New Orleans, LA	2.0	2.0–2.5	2929	$7,750	$2.65	21d	2	0.29mi
627 St Peter New Orleans, LA	2.0	2.5	2174	$5,500	$2.53	25d	1	0.32mi
609 Royal St Unit D New Orleans, LA	1.0	1.0	1431	$2,200	$1.54	13d	1	0.33mi
751 Chartres St New Orleans, LA	2.0–3.0	2.0	1461	$2,610	$1.79	45d	1	0.34mi
910 Chartres St Unit 3B New Orleans, LA	2.0	2.0	1388	$3,100	$2.23	25d	1	0.35mi
527 Saint Ann St Unit 3 New Orleans, LA	3.0	2.0	1687	$3,500	$2.07	45d	1	0.38mi
515 Saint Ann St Unit 3 New Orleans, LA	3.0	2.0	1644	$3,600	$2.19	46d	1	0.40mi
817 Esplanade Ave Unit 1A New Orleans, LA	2.0	2.5	1586	$4,000	$2.52	4d	1	0.40mi
928 Kerlerec St New Orleans, LA	3.0	3.5	1684	$2,750	$1.63	4d	1	0.40mi
928 Kerlerec St New Orleans, LA	3.0	3.5	1684	$2,750	$1.63	4d	1	0.40mi
915 Decatur St Unit F New Orleans, LA	2.0	2.0	1500	$2,175	$1.45	25d	1	0.41mi
807 Decatur St #2 New Orleans, LA	2.0	1.5	1325	$3,600	$2.72	45d	1	0.41mi
811 Decatur St Unit 3 New Orleans, LA	2.0	2.0	1230	$2,800	$2.28	45d	1	0.42mi
1217 Kerlerec St Unit B New Orleans, LA	3.0	1.0	1300	$2,100	$1.62	4d	1	0.43mi
1247 Kerlerec St New Orleans, LA	3.0	2.0	1500	$2,500	$1.67	45d	1	0.45mi
1245 Kerlerec St New Orleans, LA	3.0	2.0	1500	$2,500	$1.67	45d	1	0.45mi
810 Bienville St New Orleans, LA	1.0–3.0	1.0–2.0	995	$2,058	$2.07	4d	9	0.46mi
535 Decatur St Unit 3 New Orleans, LA	3.0	2.0	1600	$2,800	$1.75	13d	1	0.47mi
939 Iberville St New Orleans, LA	1.0–3.0	1.0	1502	$3,100	$2.06	13d	7	0.47mi
1433 Esplanade Ave New Orleans, LA	3.0	2.0	2411	$5,000	$2.07	3d	1	0.47mi
1423 N Villere St Unit A New Orleans, LA	2.0	3.0	1964	$2,500	$1.27	45d	1	0.47mi
1521 Pauger St New Orleans, LA	2.0	2.0	1288	$2,500	$1.94	25d	1	0.49mi
324 Chartres St Unit B New Orleans, LA	2.0	2.0	1750	$2,250	$1.29	18d	1	0.51mi
1011 Canal St Unit 1513926P New Orleans, LA	1.0–4.0	1.0–4.0	1016	$9,602	$9.45	3d	2	0.53mi
531 Bienville St Unit 3 New Orleans, LA	2.0	2.0	1239	$3,700	$2.99	25d	1	0.54mi
1910 N Rampart St New Orleans, LA	2.0	1.0	1450	$1,995	$1.38	4d	1	0.55mi
1929 Dumaine St New Orleans, LA	3.0	1.0	1293	$1,500	$1.16	4d	1	0.58mi
1472 N Claiborne Ave New Orleans, LA	3.0	1.0	1312	$1,900	$1.45	17d	1	0.59mi
215 Decatur St Unit 405 New Orleans, LA	2.0	2.5	1650	$3,450	$2.09	45d	1	0.59mi
232 Decatur St Unit 3D New Orleans, LA	2.0	2.0	1268	$2,900	$2.29	45d	1	0.60mi
1801 Bienville St New Orleans, LA	2.0	2.5	1368	$2,500	$1.83	45d	1	0.61mi
1908 Saint Louis St New Orleans, LA	3.0	3.0	1234	$2,300	$1.86	25d	1	0.62mi
324 N Roman St New Orleans, LA	3.0	3.0	2100	$2,500	$1.19	45d	1	0.63mi
925 Common St New Orleans, LA	2.0	1.0–2.5	840	$2,450	$2.92	4d	44	0.65mi

Listing history 16 events

1. 2026-06-21
   days on market $165,000 Active 76 DOM
2. 2026-06-18
   days on market $165,000 Active 73 DOM
3. 2026-06-17
   days on market $165,000 Active 72 DOM
4. 2026-06-16
   days on market $165,000 Active 71 DOM
5. 2026-06-15
   days on market $165,000 Active 70 DOM
6. 2026-06-13
   days on market $165,000 Active 68 DOM
7. 2026-06-10
   days on market $165,000 Active 65 DOM
8. 2026-06-09
   days on market $165,000 Active 64 DOM
9. 2026-06-08
   days on market $165,000 Active 63 DOM
10. 2026-06-07
    days on market $165,000 Active 62 DOM
11. 2026-06-05
    days on market $165,000 Active 59 DOM
12. 2026-06-03
    days on market $165,000 Active 58 DOM
13. 2026-06-02
    days on market $165,000 Active 57 DOM
14. 2026-06-01
    days on market $165,000 Active 56 DOM
15. 2026-05-31
    days on market $165,000 Active 55 DOM
16. 2026-03-31
    listed $165,000 Active 473-char remark

    Show marketing remark (473 chars)

    This historic Treme double is now available for sale, offering a rare opportunity to restore a piece of New Orleans' architectural heritage. Currently gutted and down to the studs, this property is a blank canvas ready to be brought back to its original beauty. Zoned HU-RD2, it provides excellent flexibility for your next renovation project in one of the city's most vibrant and storied neighborhoods. This property qualifies for Historic Tax Credit - call for more info!

ⓘ 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: $34,460
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$825
• − Repairs & maintenance: −$2,757
• − Management: −$2,757
• − Depreciation: −$4,800
• Taxable income: $11,604
• Est. tax owed @ 24.0%: −$2,785
• After-tax cash flow: $10,755/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 · 5 photos

Poor 20/100 Gut rehab

This gutted property in the Treme neighborhood requires extensive repairs and restoration to bring it back to its original beauty and increase its value.

Repairs flagged

• Major exterior siding — Large sections of siding are missing or damaged
• Major windows — Windows are boarded up, indicating severe damage
• Major roof — No roof visible, but vines suggest possible water damage

Value-add opportunities

• Both exterior siding repair and replacement — Restoring the exterior will improve curb appeal and increase both resale and rental value
• Both window replacement — Replacing the damaged windows will improve the home's appearance and increase its marketability
• Both roof repair or replacement — Fixing the roof will prevent further water damage and improve the home's overall condition

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Large sections of siding are missing or damaged	Major	$15,000–50,000
windows · Windows are boarded up, indicating severe damage	Major	$15,000–50,000
roof · No roof visible, but vines suggest possible water damage	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both exterior siding repair and replacement — Restoring the exterior will improve curb appeal and increase both resale and rental value ↑
• Both window replacement — Replacing the damaged windows will improve the home's appearance and increase its marketability ↑
• Both roof repair or replacement — Fixing the roof will prevent further water damage and improve the home's overall condition ↑

ⓘ 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): 10,404
• Household income: $52,306
• Rent vs Own: 52.5% rent · 47.5% own
• Severe rent burden: 1001.0

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: White 45% Black 40% Hispanic / Latino 10% Two or more races 8%
• Hispanic origin (detail): Mexican 1% Cuban 3%
• Common ancestry: Lithuanian 6% Slovak 3% Romanian 3%
• Foreign-born: 5% · Canada
• Languages at home: 90% English-only · Spanish 6% French/Haitian/Cajun 2%

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: ▼ -144.83%
• Current HPI: 275.5453
• Rent YoY: ▲ 0.18%
• 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

1 event — show timeline

• 2026-03-31 Listed $165,000 GSREIN