9107 09 Pritchard Pl · New Orleans, LA 70118

$235,000

3 bd · 1.0 ba · 1,406 sqft · MultiFamily public records · 43 Days on market

Built 1930 3,598 sqft lot $167/sqft · 18% above area Est $278k · 16% 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 +26.1/30.0
• ARV discount +14.5/15.0
• DSCR +8.8/10.0
• 1% rule +6.3/10.0
• 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: 2 units. confirmed

Key facts

• 3,598 sq ft lot
• Built 1930
• Listed 43 days

Property features AI

Finance

• Financial info: Two-unit property with both units currently rented; Unit 1 rent: $1,525; Unit 2 rent: $1,495

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-story building; Raised foundation
• Construction: Hardboard exterior; Raised foundation (listed under foundation details)
• Exterior features: City lot with a rectangular 30 x 120 footprint

Interior

• Bedrooms: Two 3-bedroom units (Unit 1 and Unit 2)
• Bathrooms: Each unit has 2 full bathrooms (total of 4 full bathrooms)
• Heating & cooling: Central heating with dual system; Central air conditioning
• Interior features: Very good condition

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $235k.

Deal economics

• At list price, monthly cash flow is $526 ($6k/yr) — positive. Per door: $263/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $235k).
• Recommended offer: $228k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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; 279 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 $2,649/mo this rent would consume 50% of the median local household income ($64k/yr) (locally 2237% 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 $2k of loan paydown is wiped out by about $7k 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 43 days — a 3% lower offer ($228k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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 $66/mo; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe 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 $227,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% 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 1930 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.13% ✓
• Cap rate: 9.32%
• Cash-on-cash: 10.80%
• DSCR: 1.48
• GRM: 7.4

CMA / ARV

• ARV (median comp): $278,263
• List price: $235,000
• Delta: -15.55%
• 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
8839-37 Colapissa St	0.20mi	4/2.0 (+1)	1,568 (+12%)	10mo	$120,000	$77	54
3008 10 Monroe St	0.28mi	4/2.0 (+1)	1,464 (+4%)	24mo	$150,000	$102	51
8628 30 Apple St	0.38mi	4/2.0 (+1)	1,558 (+11%)	6mo	$205,000	$132	51
8517 19 Forshey St	0.47mi	4/2.0 (+1)	1,512 (+8%)	8mo	$219,000	$145	50
3315-17 Leonidas St	0.46mi	4/2.0 (+1)	1,488 (+6%)	12mo	$249,000	$167	50
3322 24 Joliet St	0.49mi	4/2.0 (+1)	1,488 (+6%)	12mo	$229,000	$154	49
3328-30 Joliet St	0.49mi	4/2.0 (+1)	1,488 (+6%)	12mo	$249,000	$167	49
3316 18 Joliet St	0.49mi	4/2.0 (+1)	1,512 (+8%)	8mo	$220,000	$146	48
1832 Eagle St	0.75mi	3/3.0	1,512 (+8%)	0mo	$90,000	$60	44
1826 28 General Ogden St	0.74mi	4/2.0 (+1)	1,333 (-5%)	5mo	$158,000	$119	44
9234 36 Apple St	0.25mi	4/4.0 (+1)	1,512 (+8%)	22mo	$150,500	$100	40
8316 18 S Claiborne Ave	0.65mi	4/2.0 (+1)	1,610 (+14%)	10mo	$125,000	$78	28

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 · 0.97% rent growth · sell at horizon

5-year hold

• IRR: -4.1%
• Equity multiple: 0.85×
• Total profit: $-9,905
• Equity at exit: $35,039

10-year hold

• IRR: 3.1%
• Equity multiple: 1.21×
• Total profit: $13,604
• Equity at exit: $20,319

Cash invested: $65,800 (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 70118

• Rents YoY: 1.0%
• Active inventory: 279
• Price-to-rent: 14.8×

Monthly cashflow live

• Estimated rent: $2,649 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$170 /mo · $2,045/yr
• Insurance: −$98
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$556
• Net cashflow: $526

Break-even live

Break-even rent $1,984

Max offer price $235,000

Occupancy floor 75%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,650
Total (2 units)			$2,649

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9107 Fig St New Orleans, LA	3.0	3.0	1230	$2,000	$1.63	3d	1	0.05mi
8929 Colapissa St New Orleans, LA	3.0	1.0	1300	$1,400	$1.08	23d	1	0.17mi
8709 Pritchard Pl New Orleans, LA	3.0	2.0	1000	$1,500	$1.50	21d	1	0.28mi
9129 Nelson St New Orleans, LA	2.0	1.5	1434	$1,900	$1.32	23d	1	0.29mi
9122 Nelson St New Orleans, LA	2.0	2.0	1100	$1,550	$1.41	23d	1	0.30mi
9438 Forshey St New Orleans, LA	3.0	2.0	1274	$2,000	$1.57	23d	1	0.31mi
8812 Apple St New Orleans, LA	3.0	2.0	1085	$1,650	$1.52	16d	1	0.33mi
8816 Olive St New Orleans, LA	3.0	2.0	1200	$1,800	$1.50	23d	1	0.35mi
8816 Olive St Unit A-B New Orleans, LA	3.0	2.0	1200	$1,800	$1.50	16d	1	0.35mi
9215 S Claiborne Ave New Orleans, LA	2.0	2.0	1100	$2,000	$1.82	11d	1	0.36mi
2527 Eagle St New Orleans, LA	3.0	2.0	1571	$2,200	$1.40	23d	1	0.36mi
8610 Apricot St New Orleans, LA	3.0	2.0	1000	$2,200	$2.20	10d	1	0.36mi
2730 Leonidas St New Orleans, LA	2.0	1.0	1000	$1,400	$1.40	23d	1	0.37mi
8514 Forshey St New Orleans, LA	3.0	1.0	1030	$1,600	$1.55	23d	1	0.46mi
8405 Apricot St New Orleans, LA	3.0	2.0	1058	$1,795	$1.70	3d	1	0.49mi
8405 Apricot St New Orleans, LA	3.0	2.0	1058	$1,795	$1.70	3d	1	0.49mi
8815 Palm St New Orleans, LA	3.0	2.0	1195	$2,100	$1.76	23d	1	0.50mi
8537 S Claiborne Ave New Orleans, LA	2.0	1.0	1450	$1,400	$0.97	3d	1	0.52mi
2616 Cambronne St Unit 2618 New Orleans, LA	3.0	1.0	1200	$1,475	$1.23	23d	1	0.53mi
2616 Cambronne St New Orleans, LA	4.0	1.0	996	$1,350	$1.36	23d	1	0.53mi
8502 Edinburgh St New Orleans, LA	3.0	2.0	1456	$1,800	$1.24	3d	1	0.55mi
9528 Stroelitz St New Orleans, LA	3.0	2.0	1174	$2,100	$1.79	11d	1	0.55mi
9540 Stroelitz St Unit 9540 New Orleans, LA	2.0	1.0	949	$1,495	$1.58	23d	1	0.56mi
2311 Joliet St New Orleans, LA	2.0	2.0	950	$1,900	$2.00	23d	1	0.62mi
912 Monticello Ave New Orleans, LA	3.0	2.0	1750	$2,500	$1.43	43d	1	0.63mi
2305 Joliet St New Orleans, LA	3.0	2.0	1451	$2,500	$1.72	43d	1	0.63mi
1916 Eagle St New Orleans, LA	3.0	2.0	1000	$1,250	$1.25	23d	1	0.73mi
1916 Eagle St New Orleans, LA	3.0	2.0	1000	$1,250	$1.25	3d	1	0.73mi
4008 General Ogden St Unit 4008 New Orleans, LA	2.0	2.0	1000	$1,475	$1.48	14d	1	0.73mi
1836 General Ogden St New Orleans, LA	3.0	2.0	1368	$1,675	$1.22	23d	1	0.74mi
119 Avenue E Metairie, LA	2.0	1.0	1500	$1,800	$1.20	44d	1	0.74mi
8927 Hickory St New Orleans, LA	2.0	1.0	1440	$1,500	$1.04	23d	1	0.78mi
8426 Spruce St New Orleans, LA	3.0	2.0	1700	$3,000	$1.76	43d	1	0.81mi
7933 Belfast St Unit Upper New Orleans, LA	3.0	2.0	1500	$2,400	$1.60	23d	1	0.82mi
7922 Colapissa St New Orleans, LA	4.0	2.0	1848	$2,400	$1.30	10d	1	0.82mi
2022 Dante St New Orleans, LA	2.0	1.0	989	$1,300	$1.31	3d	1	0.83mi
439 Brooklyn Ave New Orleans, LA	2.0	1.0	1000	$1,650	$1.65	43d	1	0.84mi
3317 Short St New Orleans, LA	3.0	2.0	900	$1,600	$1.78	23d	1	0.85mi
8423 Cohn St New Orleans, LA	2.0	2.0	887	$1,700	$1.92	23d	1	0.85mi
8421 Cohn St New Orleans, LA	2.0	2.0	887	$1,750	$1.97	23d	1	0.85mi

Listing history 18 events

1. 2026-06-18
   days on market $235,000 Active 43 DOM
2. 2026-06-17
   days on market $235,000 Active 42 DOM
3. 2026-06-16
   days on market $235,000 Active 41 DOM
4. 2026-06-15
   days on market $235,000 Active 40 DOM
5. 2026-06-13
   days on market $235,000 Active 38 DOM
6. 2026-06-10
   days on market $235,000 Active 35 DOM
7. 2026-06-09
   days on market $235,000 Active 34 DOM
8. 2026-06-08
   days on market $235,000 Active 33 DOM
9. 2026-06-07
   days on market $235,000 Active 32 DOM
10. 2026-06-05
    days on market $235,000 Active 29 DOM
11. 2026-06-03
    days on market $235,000 Active 28 DOM
12. 2026-06-02
    days on market $235,000 Active 27 DOM
13. 2026-06-01
    days on market $235,000 Active 26 DOM
14. 2026-06-01
    price $235,000 Active 25 DOM
15. 2026-05-31
    days on market $239,900 Active 25 DOM
16. 2026-05-07
    listed $239,900 Active 740-char remark
17. 2023-11-04
    historical $1,475
18. 2023-10-14
    listed $1,475

ⓘ 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: $2,045 · $170/mo
• Projected year-2 tax: $2,045 · $170/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 X (shaded) · 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: $31,788
• − Mortgage interest: −$13,164
• − Property taxes: −$2,045
• − Insurance: −$1,972
• − Repairs & maintenance: −$2,543
• − Management: −$2,543
• − Depreciation: −$6,836
• Taxable income: $2,685
• Est. tax owed @ 24.0%: −$644
• After-tax cash flow: $5,662/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): 36,072
• Household income: $63,750
• Rent vs Own: 51.5% rent · 48.5% own
• Severe rent burden: 2237.0

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 0.65)
• Race & ethnicity: White 47% Black 34% Hispanic / Latino 11% Two or more races 11% Asian 4%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 8% Italian 2% Romanian 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 86% English-only · Spanish 7% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -210.46%
• Current HPI: 282.9629
• Rent YoY: ▲ 0.97%
• 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

+15832.2% since first listed

4 events — show timeline

• 2026-05-31 Price Changed $235,000 GSREIN
• 2026-05-07 Listed $239,900 GSREIN
• 2023-11-04 Rental Removed $1,475 GSREIN
• 2023-10-14 Listed for Rent $1,475 GSREIN

Property tax history

+3.7%/yr

Latest (2026): $2,045 · +1.1% YoY. Source: county tax records.