3313 15 St Claude Ave · New Orleans, LA 70117

$350,000

4 bd · 3.0 ba · 1,850 sqft · MultiFamily · 28 Days on market

Built 1918 Est $342k · at est.

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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 +23.4/30.0
• DSCR +7.5/10.0
• ARV discount +6.5/15.0
• 1% rule +6.1/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• 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

Sold "As Is". No utilities for inspections. Sq footage approximate. Proof of funds or pre-approval letter with all offers. Allow time for Corp. response.

Key facts

• Flexible setup
• Large backyard
• Historic charm

Tags

• COMMERCIALLY ZONED
• NEW ROOF
• FRESHLY PAINTED EXTERIOR
• LARGE BACKYARD
• FLEXIBLE SETUP
• HISTORIC CHARM

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $582 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $350k).
• Recommended offer: $345k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.5% 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 rising (+2.5%/yr); 587 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 $3,883/mo this rent would consume 102% of the median local household income ($46k/yr) (locally 1988% 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 $10k 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 28 days — a 2% lower offer ($345k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 22y 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 $350k implies a 2613% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1918 — 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 $344,750 (1.5% below list)

Questions for the listing agent

1. Built in 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.11% ✓
• Cap rate: 8.52%
• Cash-on-cash: 7.94%
• DSCR: 1.35
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $342,250
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3313 15 St Claude Ave	0.00mi	4/3.0	1,850 (0%)	1mo	$320,000	$173	99
939 Piety St	0.11mi	4/2.5	2,022 (+9%)	1mo	$409,000	$202	76
3129 31 N Claiborne Ave	0.39mi	4/2.0	1,806 (-2%)	3mo	$267,150	$148	72
816-18 Alvar St	0.35mi	3/2.5 (-1)	1,814 (-2%)	5mo	$435,000	$240	69
1537-1539 Louisa St	0.34mi	4/2.0	1,778 (-4%)	6mo	$329,000	$185	69
727 Montegut St	0.39mi	4/2.0	1,670 (-10%)	4mo	$155,000	$93	58
827-829 St Ferdinand St	0.48mi	4/2.0	2,019 (+9%)	2mo	$450,000	$223	57
2630 N Rampart St	0.52mi	4/2.0	1,680 (-9%)	4mo	$387,500	$231	53
523-25 Spain St	0.74mi	3/3.5 (-1)	1,891 (+2%)	2mo	$280,000	$148	53
3824 26 Royal St	0.43mi	4/2.0	1,599 (-14%)	1mo	$232,500	$145	53
4323 25 N Derbigny St	0.70mi	4/2.0	1,925 (+4%)	5mo	$195,000	$101	52
4029 Royal St	0.51mi	3/3.0 (-1)	2,056 (+11%)	5mo	$487,000	$237	48

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 · 2.49% rent growth · sell at horizon

5-year hold

• IRR: -5.9%
• Equity multiple: 0.78×
• Total profit: $-21,509
• Equity at exit: $52,186

10-year hold

• IRR: 3.1%
• Equity multiple: 1.22×
• Total profit: $21,381
• Equity at exit: $30,262

Cash invested: $98,000 (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 70117

• Rents YoY: 2.5%
• Active inventory: 587
• Price-to-rent: 22.5×

Monthly cashflow live

• Estimated rent: $3,883 high
• Mortgage (P&I): −$1,835
• Tax est. 1.5%: −$438 /mo · $5,250/yr
• Insurance: −$146
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$815
• Net cashflow: $582

Break-even live

Break-even rent $3,146

Max offer price $350,000

Occupancy floor 80%

Sensitivity live

Price	-10% $824	-5% $703	+0% $582	+5% $461	+10% $340
Rent	-10% $276	-5% $429	+0% $582	+5% $736	+10% $889
Rate	-1.0pp $759	-0.5pp $671	base $582	+0.5pp $492	+1.0pp $399

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$3,882
Total (3 units)			$3,883

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3221 Saint Claude Ave New Orleans, LA	3.0	1.0	1900	$1,650	$0.87	25d	1	0.06mi
3134 Burgundy St New Orleans, LA	3.0	2.0	1887	$2,900	$1.54	25d	1	0.23mi
1231 Feliciana St New Orleans, LA	3.0	2.5	1869	$2,750	$1.47	45d	1	0.26mi
1437 Gallier St New Orleans, LA	3.0	2.0	1451	$1,875	$1.29	23d	1	0.29mi
5624-5626 Saint Claude ST New Orleans, LA	4.0	3.0	1521	$2,300	$1.51	25d	1	0.30mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	5d	1	0.30mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	4d	1	0.30mi
1323 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	5d	1	0.30mi
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
1411 France St New Orleans, LA	3.0	2.0	1525	$2,000	$1.31	25d	1	0.53mi
1835 Louisa St New Orleans, LA	3.0	2.5	1800	$2,350	$1.31	5d	1	0.57mi
4317 Urquhart St New Orleans, LA	3.0	2.0	1300	$1,650	$1.27	25d	1	0.57mi
1839 Louisa St New Orleans, LA	3.0	2.0	1500	$2,095	$1.40	17d	1	0.57mi
1403 Lesseps St New Orleans, LA	3.0	3.0	1700	$1,800	$1.06	13d	1	0.58mi
4318 1/2 N Robertson St New Orleans, LA	3.0	1.0	1250	$1,150	$0.92	4d	1	0.61mi
4318 N Robertson St New Orleans, LA	3.0	1.0	1250	$1,150	$0.92	5d	1	0.62mi
4230 N Claiborne Ave New Orleans, LA	3.0	2.5	1296	$1,750	$1.35	25d	1	0.62mi
2019 Gallier St New Orleans, LA	4.0	2.0	1400	$2,200	$1.57	25d	1	0.68mi
2028 Desire St New Orleans, LA	3.0	1.0	1300	$1,300	$1.00	25d	1	0.70mi
632 Mandeville St Unit 2B New Orleans, LA	4.0	4.5	1337	$4,500	$3.37	18d	1	0.81mi
2322 Burgundy St Unit C New Orleans, LA	3.0	2.0	1250	$2,200	$1.76	25d	1	0.83mi
2320 N Rampart St New Orleans, LA	3.0	3.0	2317	$3,700	$1.60	45d	1	0.83mi
2317 N Rampart St Unit 1272378P New Orleans, LA	3.0–6.0	2.0–4.0	1581	$4,154	$2.63	5d	2	0.83mi
2331 Feliciana St New Orleans, LA	3.0	2.0	1250	$1,850	$1.48	25d	1	0.95mi
119 Vallette St New Orleans, LA	3.0	2.5	1500	$2,100	$1.40	25d	1	0.98mi
249 Vallette St New Orleans, LA	4.0	2.0	1734	$2,500	$1.44	17d	1	1.06mi
336 Elmira Ave New Orleans, LA	3.0	1.0	1250	$1,825	$1.46	25d	1	1.06mi
2228 Arts St New Orleans, LA	3.0	2.0	2270	$1,675	$0.74	5d	1	1.12mi
1418 Royal St Unit 1418 New Orleans, LA	4.0	2.0	1300	$2,450	$1.88	25d	1	1.13mi
2220 N Prieur St New Orleans, LA	3.0	2.0	1334	$2,000	$1.50	25d	1	1.15mi
2115 Mandeville St New Orleans, LA	3.0	2.0	1400	$1,650	$1.18	25d	1	1.19mi
527 Atlantic Ave New Orleans, LA	3.0	2.0	1800	$2,050	$1.14	25d	1	1.19mi
619 Reynes St New Orleans, LA	3.0	2.0	1318	$2,100	$1.59	17d	1	1.21mi
928 Kerlerec St New Orleans, LA	3.0	3.5	1684	$2,750	$1.63	5d	1	1.25mi
928 Kerlerec St New Orleans, LA	3.0	3.5	1684	$2,750	$1.63	4d	1	1.25mi
617 Forstall St New Orleans, LA	3.0	2.0	1262	$2,200	$1.74	5d	1	1.27mi
2107 Elysian Fields Ave New Orleans, LA	4.0	2.0	1794	$1,650	$0.92	5d	1	1.27mi
1837 Touro St New Orleans, LA	3.0	1.0	1994	$2,000	$1.00	25d	1	1.29mi
701 Behrman Ave New Orleans, LA	3.0	2.0	1368	$2,300	$1.68	5d	1	1.33mi

Listing history 7 events

1. 2026-04-21
   status Pending
2. 2026-03-24
   listed $350,000 Active
3. 2010-06-02
   listed $179,000
4. 2009-12-31
   soldstatus $12,900 163-char remark

   Show marketing remark (163 chars)

   Sold "As Is". No utilities for inspections. Sq footage approximate. Proof of funds or pre-approval letter with all offers. Allow time for Corp. response.

5. 2009-10-22
   listed $12,900 163-char remark

   Show marketing remark (163 chars)

   Sold "As Is". No utilities for inspections. Sq footage approximate. Proof of funds or pre-approval letter with all offers. Allow time for Corp. response.

6. 2005-07-06
   soldstatus $119,000
7. 2004-11-15
   listed $124,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X · 74% 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: $46,596
• − Mortgage interest: −$19,605
• − Property taxes: −$5,250
• − Insurance: −$2,548
• − Repairs & maintenance: −$3,728
• − Management: −$3,728
• − Depreciation: −$10,182
• Taxable income: $1,556
• Est. tax owed @ 24.0%: −$373
• After-tax cash flow: $6,615/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): 25,652
• Household income: $45,764
• Rent vs Own: 47.8% rent · 52.2% own
• Severe rent burden: 1988.0

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: Majority Black (60%)
• Race & ethnicity: Black 60% White 30% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Lithuanian 5% Italian 1% Romanian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -177.22%
• Current HPI: 184.6061
• Rent YoY: ▲ 2.49%
• 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

+180.2% since first listed

7 events — show timeline

• 2026-04-21 Pending — GSREIN
• 2026-03-24 Listed $350,000 GSREIN
• 2010-06-02 Listed $179,000 GSREIN
• 2009-12-31 Sold (MLS) $12,900 GSREIN
• 2009-10-22 Listed $12,900 GSREIN
• 2005-07-06 Sold (MLS) $119,000 GSREIN
• 2004-11-15 Listed $124,900 GSREIN