2511 13 La Salle St · New Orleans, LA 70113

$135,000

4 bd · 2.0 ba · 1,674 sqft · MultiFamily · 55 Days on market

Built 1940 Fair condition 3,367 sqft lot $81/sqft · 53% 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.0/5.0
• Livability +4.0/5.0
• Condition / age +2.2/5.0
• Schools +1.6/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

This is a great opportunity to revitalize this duplex back to its old charm. Home is located just minutes away from St. Charles and Downtown New Orleans.

Key facts

• 3,367 sq ft lot
• Built 1940
• Listed 55 days

Property features AI

Finance

• Financial info: Two-unit property; Tenants pay electricity and gas; owner pays water

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-story building
• Construction: Shingle roof; Slab foundation; Built approximately (year not provided)
• Exterior features: City lot; Rectangular lot; Lot dimensions approximately 30 x 102

Interior

• Bedrooms: Unit 2513: 2 bedrooms; Unit 2511: 2 bedrooms
• Bathrooms: Two full bathrooms total (one full bathroom in each unit)
• Interior features: Average condition
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $135k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Cap rate 27.2% 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 rising fast (+6.0%/yr); 137 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $4,161/mo this rent would consume 127% of the median local household income ($39k/yr) (locally 714% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $14k of equity ($933 loan paydown + $14k appreciation (10.0% local appreciation)).
• Orleans County population projected at +61% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 6.0% rent growth), your $38k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y 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 $40k; list at $135k implies a 238% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 3.08% ✓
• Cap rate: 27.22%
• Cash-on-cash: 74.74%
• DSCR: 4.33
• GRM: 2.7

CMA / ARV

• ARV (median comp): $286,940
• List price: $135,000
• Delta: -52.95%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2025 Conti St	0.49mi	4/2.0	1,680 (+0%)	7mo	$285,000	$170	70
2216-18 Saint Louis St	0.63mi	4/2.0	1,689 (+1%)	1mo	$335,000	$198	68
2013-15 Conti St	0.48mi	4/2.0	1,610 (-4%)	5mo	$65,000	$40	67
5428 30 Dauphine St	0.34mi	4/2.0	1,775 (+6%)	10mo	$185,000	$104	66
2424 26 S Derbigny St	0.26mi	4/2.0	1,558 (-7%)	15mo	$236,160	$152	64
917 N Prieur St	0.72mi	4/2.0	1,700 (+2%)	4mo	$315,000	$185	61
2700 02 S Galvez St	0.52mi	4/3.0	1,600 (-4%)	20mo	$310,000	$194	47
2704 06 S Galvez St	0.52mi	4/3.0	1,548 (-8%)	16mo	$315,000	$203	46
1432-1434 Ursulines Ave	0.70mi	4/1.0	1,888 (+13%)	6mo	$228,000	$121	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 5.98% rent growth · sell at horizon

5-year hold

• IRR: 87.9%
• Equity multiple: 7.25×
• Total profit: $236,378
• Equity at exit: $121,619

10-year hold

• IRR: 83.4%
• Equity multiple: 17.08×
• Total profit: $607,708
• Equity at exit: $262,275

Cash invested: $37,800 (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 70113

• Rents YoY: 6.0%
• Active inventory: 137
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $4,161 high
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$874
• Net cashflow: $2,354

Break-even live

Break-even rent $1,181

Max offer price $135,000

Occupancy floor 38%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,160
Total (2 units)			$4,161

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1011 Canal St Unit 1513939P New Orleans, LA	4.0	4.0	1765	$11,253	$6.38	23d	1	0.22mi
1011 Canal St Unit 1513926P New Orleans, LA	1.0–4.0	1.0–4.0	1016	$12,077	$11.88	1d	2	0.22mi
939 Iberville St New Orleans, LA	1.0–3.0	1.0	1502	$3,800	$2.53	11d	7	0.30mi
810 Bienville St New Orleans, LA	1.0–3.0	1.0–2.0	995	$2,688	$2.70	3d	9	0.36mi
324 N Roman St New Orleans, LA	3.0	3.0	2100	$2,500	$1.19	43d	1	0.40mi
618 N Rampart St #204 New Orleans, LA	3.0	2.5	1904	$4,500	$2.36	43d	1	0.43mi
822 Perdido St Unit 1272370P New Orleans, LA	1.0–5.0	1.0–5.0	1447	$5,974	$4.13	3d	4	0.47mi
800 Gravier St Unit 1272312P New Orleans, LA	2.0–4.0	2.0–4.0	1673	$6,169	$3.69	14d	2	0.47mi
1908 Saint Louis St New Orleans, LA	3.0	3.0	1234	$2,300	$1.86	23d	1	0.47mi
518 S Rampart St New Orleans, LA	3.0	2.0	1853	$3,995	$2.16	3d	1	0.49mi
2024 Bienville St New Orleans, LA	3.0	2.0	1314	$2,100	$1.60	23d	1	0.49mi
2033 Conti St New Orleans, LA	3.0	3.0	1249	$2,250	$1.80	14d	1	0.52mi
2105 Bienville St New Orleans, LA	3.0	3.0	1231	$2,350	$1.91	17d	1	0.54mi
811 Burgundy St New Orleans, LA	4.0	2.5	2059	$5,000	$2.43	43d	1	0.57mi
1000 Girod St Ph 2 New Orleans, LA	3.0	3.5	2008	$4,800	$2.39	43d	1	0.62mi
431 Gravier St Ste 4 New Orleans, LA	3.0	2.0	2100	$3,700	$1.76	43d	1	0.65mi
315 N Miro St New Orleans, LA	3.0	3.0	1276	$2,500	$1.96	23d	1	0.66mi
315 N Miro St New Orleans, LA	3.0	3.0	1276	$2,300	$1.80	20d	1	0.66mi
535 Decatur St Unit 3 New Orleans, LA	3.0	2.0	1600	$2,800	$1.75	11d	1	0.68mi
1021 Henriette Delille St New Orleans, LA	3.0	2.0	2012	$2,250	$1.12	17d	1	0.69mi
2320 Conti St New Orleans, LA	3.0	2.0	1125	$2,500	$2.22	23d	1	0.70mi
751 Chartres St New Orleans, LA	2.0–3.0	2.0	1461	$3,450	$2.36	43d	1	0.70mi
1929 Dumaine St New Orleans, LA	3.0	1.0	1293	$1,500	$1.16	3d	1	0.72mi
803 Baronne St New Orleans, LA	3.0	2.0	1791	$3,525	$1.97	3d	1	0.73mi
2304 Gravier St Unit 2304 New Orleans, LA	3.0	2.0	1112	$1,800	$1.62	16d	1	0.74mi
527 Saint Ann St Unit 3 New Orleans, LA	3.0	2.0	1687	$3,500	$2.07	43d	1	0.75mi
515 Saint Ann St Unit 3 New Orleans, LA	3.0	2.0	1644	$3,600	$2.19	44d	1	0.76mi
875 O'Keefe Ave #301 New Orleans, LA	3.0	2.5	2029	$4,500	$2.22	17d	1	0.76mi
1035 N Derbigny St New Orleans, LA	3.0	1.0	1075	$1,399	$1.30	23d	1	0.77mi
2129 Dumaine St New Orleans, LA	3.0	2.0	1226	$1,850	$1.51	3d	1	0.80mi
2517 Palmyra St New Orleans, LA	3.0	2.0	1306	$2,100	$1.61	17d	1	0.80mi
734 Ursulines Ave New Orleans, LA	3.0	2.0	1340	$2,800	$2.09	43d	1	0.80mi
326 S Dorgenois St Unit 326 New Orleans, LA	4.0	3.0	1510	$2,300	$1.52	2d	1	0.84mi
822 Howard Ave Unit 1272354P New Orleans, LA	1.0–5.0	1.0–4.0	1749	$9,250	$5.29	1d	3	0.88mi
2615 Banks St New Orleans, LA	3.0	2.0	1200	$1,900	$1.58	3d	1	0.89mi
2539 Gravier St Unit 2541 New Orleans, LA	3.0	1.0	1115	$1,495	$1.34	16d	1	0.90mi
2652 Banks St New Orleans, LA	3.0	3.5	1204	$2,100	$1.74	23d	1	0.95mi
2645 Gravier St Unit 2645-A New Orleans, LA	3.0	1.0	1290	$1,595	$1.24	23d	1	0.99mi
1217 Kerlerec St Unit B New Orleans, LA	3.0	1.0	1300	$2,100	$1.62	3d	1	0.99mi
1201 Baronne St #1 New Orleans, LA	3.0	2.5	1892	$2,700	$1.43	17d	1	0.99mi

Listing history 19 events

1. 2026-06-18
   days on market $135,000 Active 55 DOM
2. 2026-06-17
   days on market $135,000 Active 54 DOM
3. 2026-06-16
   days on market $135,000 Active 53 DOM
4. 2026-06-15
   days on market $135,000 Active 52 DOM
5. 2026-06-13
   days on market $135,000 Active 50 DOM
6. 2026-06-10
   days on market $135,000 Active 47 DOM
7. 2026-06-09
   days on market $135,000 Active 46 DOM
8. 2026-06-08
   days on market $135,000 Active 45 DOM
9. 2026-06-07
   days on market $135,000 Active 44 DOM
10. 2026-06-05
    days on market $135,000 Active 41 DOM
11. 2026-06-03
    days on market $135,000 Active 40 DOM
12. 2026-06-02
    days on market $135,000 Active 39 DOM
13. 2026-06-01
    days on market $135,000 Active 38 DOM
14. 2026-05-31
    days on market $135,000 Active 37 DOM
15. 2026-04-23
    listed $135,000 Active 481-char remark
16. 2016-03-02
    soldstatus $40,000 Sold 153-char remark

    Show marketing remark (153 chars)

    This is a great opportunity to revitalize this duplex back to its old charm. Home is located just minutes away from St. Charles and Downtown New Orleans.

17. 2016-02-19
    status Under Contract 153-char remark

    Show marketing remark (153 chars)

    This is a great opportunity to revitalize this duplex back to its old charm. Home is located just minutes away from St. Charles and Downtown New Orleans.

18. 2015-12-30
    price $54,000 153-char remark

    Show marketing remark (153 chars)

    This is a great opportunity to revitalize this duplex back to its old charm. Home is located just minutes away from St. Charles and Downtown New Orleans.

19. 2015-12-11
    listed $64,500 Active 153-char remark

    Show marketing remark (153 chars)

    This is a great opportunity to revitalize this duplex back to its old charm. Home is located just minutes away from St. Charles and Downtown New Orleans.

ⓘ 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: $49,932
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$3,995
• − Management: −$3,995
• − Depreciation: −$3,927
• Taxable income: $27,754
• Est. tax owed @ 24.0%: −$6,661
• After-tax cash flow: $21,590/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 · 13 photos

Fair 45/100 Moderate rehab

This two-unit property requires moderate repairs and maintenance to improve its condition and increase its value. The exterior and interior paint need fresh coats, and the exterior siding and flooring should be replaced to enhance curb appeal and increase its value.

Repairs flagged

• Major Exterior siding — Peeling paint and exposed siding indicate significant damage
• Major Paint — Peeling paint on exterior and interior walls
• Minor Flooring — Some wear on laminate flooring, but not severe
• Minor Kitchen cabinets — Some wear on cabinets, but still functional
• Minor Bathroom fixtures — Some wear on tiles, but still functional

Value-add opportunities

• Both Paint exterior and interior — Fresh paint can significantly improve curb appeal and interior aesthetics
• Both Replace exterior siding — New siding will improve the home's appearance and increase its value
• Both Replace flooring — New flooring will improve the home's appearance and increase its value
• Both Replace kitchen cabinets — New cabinets will improve the home's appearance and increase its value
• Both Replace bathroom fixtures — New fixtures will improve the home's appearance and increase its value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Peeling paint and exposed siding indicate significant damage	Major	$15,000–50,000
Paint · Peeling paint on exterior and interior walls	Major	$15,000–50,000
Flooring · Some wear on laminate flooring, but not severe	Minor	$500–3,000
Kitchen cabinets · Some wear on cabinets, but still functional	Minor	$500–3,000
Bathroom fixtures · Some wear on tiles, but still functional	Minor	$500–3,000
Total estimated repair cost · 5 items		$31,500–109,000

Value-add ROI direction

• Both Paint exterior and interior — Fresh paint can significantly improve curb appeal and interior aesthetics ↑
• Both Replace exterior siding — New siding will improve the home's appearance and increase its value ↑
• Both Replace flooring — New flooring will improve the home's appearance and increase its value ↑
• Both Replace kitchen cabinets — New cabinets will improve the home's appearance and increase its value ↑
• Both Replace bathroom fixtures — New fixtures will improve the home's appearance and increase its value ↑

ⓘ 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): 9,387
• Household income: $39,333
• Rent vs Own: 75.4% rent · 24.6% own
• Severe rent burden: 714.0

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 0.57)
• Race & ethnicity: Black 61% White 20% Hispanic / Latino 13% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 2% Portuguese 1% Slovak 1%
• Foreign-born: 13% · Canada, Vietnam, China
• Languages at home: 86% English-only · Spanish 11% Other Indo-European 1% Vietnamese 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: ▲ 65.92%
• Current HPI: 229.3968
• Rent YoY: ▲ 5.98%
• 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

+109.3% since first listed

5 events — show timeline

• 2026-04-23 Listed $135,000 GSREIN
• 2016-03-02 Sold (MLS) $40,000 GSREIN
• 2016-02-19 Pending — GSREIN
• 2015-12-30 Price Changed $54,000 GSREIN
• 2015-12-11 Listed $64,500 GSREIN