1420 Port St · New Orleans, LA 70116

$220,000

4 bd · 2.0 ba · 1,875 sqft · MultiFamily public records · 65 Days on market

Built 1920 $117/sqft · 42% below area Est $322k · 32% 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 +26.4/30.0
• ARV discount +15.0/15.0
• DSCR +9.0/10.0
• 1% rule +6.2/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Prime investment opportunity in the heart of the St. Claude neighborhood! This classic New Orleans double shotgun has been thoughtfully modified into a spacious single-family layout and is currently occupied by long-term tenants. The property offers a path to be restored to an income-producing double with minor reconfigurations. An ideal find for a savvy investor or an owner-occupant looking to maximize rental upside in a high-demand historic corridor. Please note: Tenant-owned appliances, window treatments, and personal property are excluded from the sale. Please allow 24-48 hrs notice for all showings.

Key facts

• Built 1920
• Listed 64 days

🏷️ Possibly a rental listed for sale. The $220,000 price doesn't fit this home's estimated sale value (~$321,572) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $220k.

Deal economics

• At list price, monthly cash flow is $511 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $220k).
• Recommended offer: $207k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.4% 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 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); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,467/mo this rent would consume 57% 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 $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 65 days — a 6% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 17y 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 $13k; list at $220k implies a 1592% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1920 — 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $206,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.12% ✓
• Cap rate: 9.44%
• Cash-on-cash: 11.26%
• DSCR: 1.50
• GRM: 7.4

CMA / ARV

• ARV (median comp): $321,572
• List price: $220,000
• Delta: -31.59%
• 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
1805 07 St Roch Ave	0.34mi	4/2.0	1,914 (+2%)	1mo	$290,000	$152	80
3129 31 N Claiborne Ave	0.39mi	4/2.0	1,806 (-4%)	3mo	$267,150	$148	74
3313 15 St Claude Ave	0.56mi	4/3.0	1,850 (-1%)	1mo	$320,000	$173	67
827-829 St Ferdinand St	0.44mi	4/2.0	2,019 (+8%)	2mo	$450,000	$223	65
1923-25 Pauger St	0.73mi	4/2.0	1,879 (+0%)	4mo	$70,000	$37	62
1727 29 Marigny St	0.49mi	4/2.0	1,716 (-8%)	1mo	$285,000	$166	62
1734 Spain St	0.41mi	5/3.0 (+1)	1,985 (+6%)	1mo	$100,000	$50	61
832 36 Mandeville St	0.54mi	3/3.0 (-1)	1,851 (-1%)	4mo	$294,000	$159	61
939 Piety St	0.60mi	4/2.5	2,022 (+8%)	1mo	$409,000	$202	56
523-25 Spain St	0.67mi	3/3.5 (-1)	1,891 (+1%)	2mo	$280,000	$148	55
2211 13 Mandeville St	0.67mi	4/2.0	1,644 (-12%)	2mo	$195,000	$119	46
2105 07 Arts St	0.49mi	4/3.0	1,598 (-15%)	3mo	$265,000	$166	46

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: -4.4%
• Equity multiple: 0.84×
• Total profit: $-9,900
• Equity at exit: $32,803

10-year hold

• IRR: 1.8%
• Equity multiple: 1.11×
• Total profit: $6,859
• Equity at exit: $19,022

Cash invested: $61,600 (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 70116

• Home prices YoY: -34.5%
• Rents YoY: 0.2%
• Active inventory: 351
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,467 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$126 /mo · $1,512/yr
• Insurance: −$92
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$518
• Net cashflow: $511

Break-even live

Break-even rent $1,820

Max offer price $220,000

Occupancy floor 74%

Sensitivity live

Price	-10% $636	-5% $574	+0% $511	+5% $449	+10% $387
Rent	-10% $316	-5% $414	+0% $511	+5% $609	+10% $706
Rate	-1.0pp $622	-0.5pp $567	base $511	+0.5pp $454	+1.0pp $396

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1231 Feliciana St New Orleans, LA	3.0	2.5	1869	$2,750	$1.47	45d	1	0.28mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	45d	1	0.32mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	25d	1	0.32mi
3221 Saint Claude Ave New Orleans, LA	3.0	1.0	1900	$1,650	$0.87	25d	1	0.49mi
5624-5626 Saint Claude ST New Orleans, LA	4.0	3.0	1521	$2,300	$1.51	25d	1	0.50mi
2317 N Rampart St Unit 1272378P New Orleans, LA	3.0–6.0	2.0–4.0	1581	$4,154	$2.63	4d	2	0.51mi
2320 N Rampart St New Orleans, LA	3.0	3.0	2317	$3,700	$1.60	45d	1	0.52mi
3134 Burgundy St New Orleans, LA	3.0	2.0	1887	$2,900	$1.54	25d	1	0.54mi
1835 Louisa St New Orleans, LA	3.0	2.5	1800	$2,350	$1.31	4d	1	0.54mi
1839 Louisa St New Orleans, LA	3.0	2.0	1500	$2,095	$1.40	17d	1	0.54mi
2322 Burgundy St Unit C New Orleans, LA	3.0	2.0	1250	$2,200	$1.76	25d	1	0.56mi
1437 Gallier St New Orleans, LA	3.0	2.0	1451	$1,875	$1.29	22d	1	0.60mi
2220 N Prieur St New Orleans, LA	3.0	2.0	1334	$2,000	$1.50	25d	1	0.61mi
2228 Arts St New Orleans, LA	3.0	2.0	2270	$1,675	$0.74	4d	1	0.62mi
632 Mandeville St Unit 2B New Orleans, LA	4.0	4.5	1337	$4,500	$3.37	18d	1	0.64mi
2115 Mandeville St New Orleans, LA	3.0	2.0	1400	$1,650	$1.18	25d	1	0.65mi
2028 Desire St New Orleans, LA	3.0	1.0	1300	$1,300	$1.00	25d	1	0.69mi
2107 Elysian Fields Ave New Orleans, LA	4.0	2.0	1794	$1,650	$0.92	4d	1	0.73mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	4d	1	0.74mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	4d	1	0.74mi
2331 Feliciana St New Orleans, LA	3.0	2.0	1250	$1,850	$1.48	25d	1	0.74mi
1323 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	4d	1	0.74mi
2019 Gallier St New Orleans, LA	4.0	2.0	1400	$2,200	$1.57	25d	1	0.74mi
1837 Touro St New Orleans, LA	3.0	1.0	1994	$2,000	$1.00	25d	1	0.76mi
1418 Royal St Unit 1418 New Orleans, LA	4.0	2.0	1300	$2,450	$1.88	25d	1	0.89mi
928 Kerlerec St New Orleans, LA	3.0	3.5	1684	$2,750	$1.63	4d	1	0.93mi
928 Kerlerec St New Orleans, LA	3.0	3.5	1684	$2,750	$1.63	4d	1	0.93mi
1936 N Johnson St Unit 36 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	25d	1	0.93mi
1938 N Johnson St Unit 38 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	25d	1	0.93mi
1411 France St New Orleans, LA	3.0	2.0	1525	$2,000	$1.31	25d	1	0.97mi
2920 Pauger St New Orleans, LA	4.0	2.0	1882	$1,995	$1.06	25d	1	0.98mi
1217 Kerlerec St Unit B New Orleans, LA	3.0	1.0	1300	$2,100	$1.62	4d	1	1.01mi
4230 N Claiborne Ave New Orleans, LA	3.0	2.5	1296	$1,750	$1.35	25d	1	1.02mi
1245 Kerlerec St New Orleans, LA	3.0	2.0	1500	$2,500	$1.67	45d	1	1.03mi
1247 Kerlerec St New Orleans, LA	3.0	2.0	1500	$2,500	$1.67	45d	1	1.03mi
1403 Lesseps St New Orleans, LA	3.0	3.0	1700	$1,800	$1.06	13d	1	1.03mi
4317 Urquhart St New Orleans, LA	3.0	2.0	1300	$1,650	$1.27	25d	1	1.05mi
4318 1/2 N Robertson St New Orleans, LA	3.0	1.0	1250	$1,150	$0.92	4d	1	1.05mi
4318 N Robertson St New Orleans, LA	3.0	1.0	1250	$1,150	$0.92	4d	1	1.05mi
3228 Pauger St New Orleans, LA	5.0	2.0	1600	$2,100	$1.31	25d	1	1.13mi

Listing history 24 events

1. 2026-06-21
   days on market $220,000 Active 65 DOM
2. 2026-06-18
   days on market $220,000 Active 62 DOM
3. 2026-06-17
   days on market $220,000 Active 61 DOM
4. 2026-06-16
   days on market $220,000 Active 60 DOM
5. 2026-06-15
   days on market $220,000 Active 59 DOM
6. 2026-06-13
   days on market $220,000 Active 57 DOM
7. 2026-06-10
   days on market $220,000 Active 54 DOM
8. 2026-06-09
   days on market $220,000 Active 53 DOM
9. 2026-06-08
   days on market $220,000 Active 52 DOM
10. 2026-06-07
    days on market $220,000 Active 51 DOM
11. 2026-06-05
    days on market $220,000 Active 48 DOM
12. 2026-06-03
    days on market $220,000 Active 47 DOM
13. 2026-06-02
    days on market $220,000 Active 46 DOM
14. 2026-06-01
    days on market $220,000 Active 45 DOM
15. 2026-05-31
    days on market $220,000 Active 44 DOM
16. 2026-04-11
    listed $220,000 Active 611-char remark

    Show marketing remark (611 chars)

    Prime investment opportunity in the heart of the St. Claude neighborhood! This classic New Orleans double shotgun has been thoughtfully modified into a spacious single-family layout and is currently occupied by long-term tenants. The property offers a path to be restored to an income-producing double with minor reconfigurations. An ideal find for a savvy investor or an owner-occupant looking to maximize rental upside in a high-demand historic corridor. Please note: Tenant-owned appliances, window treatments, and personal property are excluded from the sale. Please allow 24-48 hrs notice for all showings.

17. 2026-04-11
    listed $220,000 Active 611-char remark

    Show marketing remark (611 chars)

    Prime investment opportunity in the heart of the St. Claude neighborhood! This classic New Orleans double shotgun has been thoughtfully modified into a spacious single-family layout and is currently occupied by long-term tenants. The property offers a path to be restored to an income-producing double with minor reconfigurations. An ideal find for a savvy investor or an owner-occupant looking to maximize rental upside in a high-demand historic corridor. Please note: Tenant-owned appliances, window treatments, and personal property are excluded from the sale. Please allow 24-48 hrs notice for all showings.

18. 2026-04-11
    listed $220,000 Active

    Show marketing remark (611 chars)

    Prime investment opportunity in the heart of the St. Claude neighborhood! This classic New Orleans double shotgun has been thoughtfully modified into a spacious single-family layout and is currently occupied by long-term tenants. The property offers a path to be restored to an income-producing double with minor reconfigurations. An ideal find for a savvy investor or an owner-occupant looking to maximize rental upside in a high-demand historic corridor. Please note: Tenant-owned appliances, window treatments, and personal property are excluded from the sale. Please allow 24-48 hrs notice for all showings.

19. 2026-04-11
    listed $220,000 Active

    Show marketing remark (611 chars)

    Prime investment opportunity in the heart of the St. Claude neighborhood! This classic New Orleans double shotgun has been thoughtfully modified into a spacious single-family layout and is currently occupied by long-term tenants. The property offers a path to be restored to an income-producing double with minor reconfigurations. An ideal find for a savvy investor or an owner-occupant looking to maximize rental upside in a high-demand historic corridor. Please note: Tenant-owned appliances, window treatments, and personal property are excluded from the sale. Please allow 24-48 hrs notice for all showings.

20. 2011-08-10
    listed $19,500
21. 2009-06-12
    soldstatus $13,000
22. 2009-03-26
    listed $18,900
23. 2009-03-26
    listed $18,900
24. 2001-03-19
    soldstatus $152,000

ⓘ 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: $1,512 · $126/mo
• Projected year-2 tax: $1,512 · $126/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 · 73% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 22 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,609
• − Mortgage interest: −$12,323
• − Property taxes: −$1,512
• − Insurance: −$1,898
• − Repairs & maintenance: −$2,369
• − Management: −$2,369
• − Depreciation: −$6,400
• Taxable income: $2,739
• Est. tax owed @ 24.0%: −$657
• After-tax cash flow: $5,480/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): 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

+44.7% since first listed

9 events — show timeline

• 2026-04-11 Listed $220,000 GSREIN
• 2026-04-11 Listed $220,000 AcadianaMLS
• 2026-04-11 Listed $220,000 GSREIN
• 2026-04-11 Listed $220,000 AcadianaMLS
• 2011-08-10 Listed $19,500 AcadianaMLS
• 2009-06-12 Sold (MLS) $13,000 GSREIN
• 2009-03-26 Listed $18,900 GSREIN
• 2009-03-26 Listed $18,900 AcadianaMLS
• 2001-03-19 Sold (Public Records) $152,000 Public Records

Property tax history

+9.5%/yr

Latest (2026): $1,512 · +1.1% YoY. Source: county tax records.