3309 4th St · New Orleans, LA 70125

$210,000

4 bd · 2.0 ba · 1,560 sqft · MultiFamily public records · 369 Days on market

Built 1920 3,358 sqft lot $135/sqft · 10% above area Est $195k · 8% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• ARV discount +4.0/15.0
• 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

Listing remarks MLS

This charming duplex home is located in the heart of Uptown. The property features 2 bedrooms and 1 bathroom on each side, as well as spacious fenced-in backyard. This home is centrally located. Cash, conventional loan or investors only.

Key facts

• Centrally located
• Fenced-in backyard
• 3,358 sq ft lot

Tags

• FENCED-IN BACKYARD
• CENTRALLY LOCATED

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $210k.

Deal economics

• At list price, monthly cash flow is $869 ($10k/yr) — positive. Per door: $434/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $210k).
• Recommended offer: $185k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.6% 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; 219 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 + 0.7% rent growth), your $59k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 369 days — a 12% lower offer ($185k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y ago; this cycle's ask has dropped $40k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $77k; list at $210k implies a 173% 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 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $184,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 369 days. Have you received any prior offers? Is the seller open to a 12% 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 1920 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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.
9. 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.
10. 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: 1.39% ✓
• Cap rate: 11.64%
• Cash-on-cash: 19.08%
• DSCR: 1.85
• GRM: 6.0

CMA / ARV

• ARV (median comp): $194,670
• List price: $210,000
• Delta: 7.87%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2700-2702 S Johnson St	0.04mi	4/3.0	1,600 (+3%)	9mo	$315,000	$197	83
3717 S Johnson St	0.30mi	4/2.0	1,605 (+3%)	7mo	$145,000	$90	75
3511 13 Third St	0.13mi	4/2.0	1,680 (+8%)	12mo	$80,000	$48	72
2708 S Johnson St	0.05mi	4/2.0	1,708 (+10%)	17mo	$12,500	$7	68
3528 30 Toledano St	0.25mi	5/2.0 (+1)	1,700 (+9%)	2mo	$133,000	$78	67
2620-22 Philip St	0.49mi	4/2.0	1,472 (-6%)	8mo	$159,000	$108	61
3020 22 Gen Taylor St	0.43mi	4/2.0	1,717 (+10%)	7mo	$190,000	$111	58
2624-2626 Jackson Ave	0.45mi	4/2.0	1,713 (+10%)	6mo	$159,900	$93	57
2820-22 Milan St	0.58mi	4/2.0	1,704 (+9%)	0mo	$305,000	$179	57
2113 15 S Liberty St	0.73mi	4/2.0	1,624 (+4%)	10mo	$228,500	$141	51
4112 14 Thalia St	0.61mi	4/2.0	1,700 (+9%)	8mo	$235,000	$138	50
2223 25 Felicity St	0.74mi	4/2.0	1,465 (-6%)	10mo	$155,000	$106	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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: 6.6%
• Equity multiple: 1.25×
• Total profit: $14,825
• Equity at exit: $31,312

10-year hold

• IRR: 13.9%
• Equity multiple: 2.00×
• Total profit: $58,793
• Equity at exit: $18,157

Cash invested: $58,800 (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 70125

• Home prices YoY: -16.3%
• Rents YoY: 0.7%
• Active inventory: 219
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $2,909 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$174 /mo · $2,092/yr
• Insurance: −$88
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$611
• Net cashflow: $869

Break-even live

Break-even rent $1,810

Max offer price $210,000

Occupancy floor 65%

Sensitivity live

Price	-10% $987	-5% $928	+0% $869	+5% $809	+10% $750
Rent	-10% $639	-5% $754	+0% $869	+5% $983	+10% $1,098
Rate	-1.0pp $974	-0.5pp $922	base $869	+0.5pp $814	+1.0pp $759

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,910
Total (2 units)			$2,909

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2614 S Johnson St New Orleans, LA	3.0	2.0	1536	$2,079	$1.35	16d	1	0.03mi
2606 S Miro St New Orleans, LA	3.0	2.0	1450	$2,016	$1.39	25d	1	0.13mi
3122 2nd St New Orleans, LA	3.0	3.0	1206	$2,075	$1.72	25d	1	0.17mi
3617 Fourth St Unit A New Orleans, LA	3.0	2.0	1225	$1,995	$1.63	18d	1	0.17mi
3120 Second St New Orleans, LA	3.0	3.0	1256	$2,050	$1.63	25d	1	0.17mi
3108 Second St New Orleans, LA	3.0	3.0	1216	$2,100	$1.73	5d	1	0.19mi
2833 S Derbigny St New Orleans, LA	3.0	2.0	1500	$1,795	$1.20	25d	1	0.19mi
3218 Jackson Ave New Orleans, LA	3.0	2.0	1267	$1,750	$1.38	25d	1	0.24mi
3208 Louisiana Avenue Pkwy New Orleans, LA	3.0	2.0	1391	$1,900	$1.37	18d	1	0.25mi
3514 S Miro St New Orleans, LA	3.0	2.0	1230	$1,950	$1.59	18d	1	0.28mi
3044 Louisiana Avenue Pkwy New Orleans, LA	3.0	2.0	1800	$1,900	$1.06	25d	1	0.30mi
3035 Delachaise St New Orleans, LA	3.0	1.0	1968	$1,750	$0.89	3d	1	0.34mi
4305 S Johnson St Unit 4305 New Orleans, LA	3.0	1.0	1175	$1,595	$1.36	13d	1	0.43mi
4206 S Derbigny St New Orleans, LA	3.0	1.0	1300	$1,600	$1.23	25d	1	0.46mi
2608 Magnolia St New Orleans, LA	4.0	2.5	1950	$3,200	$1.64	45d	1	0.47mi
3429 Clara St New Orleans, LA	3.0	2.0	1620	$2,350	$1.45	16d	1	0.48mi
3435 Magnolia St New Orleans, LA	3.0	1.0	1050	$1,500	$1.43	25d	1	0.55mi
2722 Martin L King Bl New Orleans, LA	3.0	2.5	1350	$1,800	$1.33	25d	1	0.57mi
3350 Jena St New Orleans, LA	3.0	2.5	2200	$2,500	$1.14	45d	1	0.58mi
1407 Magnolia St New Orleans, LA	3.0	2.0	1824	$1,500	$0.82	25d	1	0.62mi
2717 Milan St New Orleans, LA	3.0	1.5	1850	$1,650	$0.89	16d	1	0.62mi
4603 S Miro St New Orleans, LA	3.0	2.0	1650	$1,650	$1.00	25d	1	0.63mi
2539 Amelia St New Orleans, LA	3.0	2.0	1296	$2,200	$1.70	25d	1	0.64mi
3636 Upperline St New Orleans, LA	3.0	1.0	1600	$1,975	$1.23	25d	1	0.66mi
2526 Martin Luther King Junior Blvd New Orleans, LA	3.0	2.0	1200	$2,200	$1.83	5d	1	0.67mi
4120 Erato St New Orleans, LA	3.0	2.0	2250	$1,750	$0.78	25d	1	0.68mi
2535 Marengo St New Orleans, LA	3.0	1.0	1300	$1,200	$0.92	16d	1	0.69mi
4403 Elba St New Orleans, LA	3.0	2.0	1400	$1,800	$1.29	5d	1	0.72mi
4401 Elba St New Orleans, LA	3.0	2.0	1400	$1,850	$1.32	25d	1	0.72mi
4611 S Claiborne Ave Unit 4609 New Orleans, LA	3.0	2.0	1200	$1,995	$1.66	25d	1	0.72mi
4400 Elba St New Orleans, LA	3.0	2.0	1600	$1,875	$1.17	25d	1	0.72mi
2231 S Liberty St New Orleans, LA	3.0	3.5	1752	$2,000	$1.14	18d	1	0.72mi
1318 S Salcedo St Unit 202 New Orleans, LA	4.0	2.0	1152	$1,975	$1.71	25d	1	0.73mi
1318 S Salcedo St Unit 101 New Orleans, LA	4.0	2.0	1152	$1,775	$1.54	18d	1	0.73mi
2117 S Lopez St New Orleans, LA	5.0	2.0	1920	$2,000	$1.04	25d	1	0.73mi
2123 S Liberty St Unit 2125 New Orleans, LA	3.0	2.0	1500	$2,100	$1.40	5d	1	0.75mi
2225 2nd St New Orleans, LA	3.0	2.0	1100	$1,800	$1.64	25d	1	0.76mi
2717 Loyola Ave New Orleans, LA	3.0	2.0	1232	$2,300	$1.87	25d	1	0.78mi
2717 Loyola Ave New Orleans, LA	3.0	2.0	1250	$2,300	$1.84	3d	1	0.78mi
2318 Martin Luther King Junior Blvd New Orleans, LA	3.0	2.0	1400	$1,700	$1.21	25d	1	0.79mi

Listing history 30 events

1. 2026-06-21
   days on market $210,000 Active 369 DOM
2. 2026-06-18
   days on market $210,000 Active 366 DOM
3. 2026-06-17
   days on market $210,000 Active 365 DOM
4. 2026-06-16
   days on market $210,000 Active 364 DOM
5. 2026-06-15
   days on market $210,000 Active 363 DOM
6. 2026-06-13
   days on market $210,000 Active 361 DOM
7. 2026-06-10
   days on market $210,000 Active 358 DOM
8. 2026-06-09
   days on market $210,000 Active 357 DOM
9. 2026-06-08
   days on market $210,000 Active 356 DOM
10. 2026-06-07
    days on market $210,000 Active 355 DOM
11. 2026-06-05
    days on market $210,000 Active 352 DOM
12. 2026-06-03
    days on market $210,000 Active 351 DOM
13. 2026-06-02
    days on market $210,000 Active 350 DOM
14. 2026-06-01
    days on market $210,000 Active 349 DOM
15. 2026-05-31
    days on market $210,000 Active 348 DOM
16. 2026-04-06
    status Active 237-char remark

    Show marketing remark (237 chars)

    This charming duplex home is located in the heart of Uptown. The property features 2 bedrooms and 1 bathroom on each side, as well as spacious fenced-in backyard. This home is centrally located. Cash, conventional loan or investors only.

17. 2026-04-06
    status Active 237-char remark

    Show marketing remark (237 chars)

    This charming duplex home is located in the heart of Uptown. The property features 2 bedrooms and 1 bathroom on each side, as well as spacious fenced-in backyard. This home is centrally located. Cash, conventional loan or investors only.

18. 2026-03-09
    status Pending 237-char remark

    Show marketing remark (237 chars)

    This charming duplex home is located in the heart of Uptown. The property features 2 bedrooms and 1 bathroom on each side, as well as spacious fenced-in backyard. This home is centrally located. Cash, conventional loan or investors only.

19. 2026-03-09
    status Pending 237-char remark

    Show marketing remark (237 chars)

    This charming duplex home is located in the heart of Uptown. The property features 2 bedrooms and 1 bathroom on each side, as well as spacious fenced-in backyard. This home is centrally located. Cash, conventional loan or investors only.

20. 2025-11-12
    price $210,000 237-char remark

    Show marketing remark (237 chars)

    This charming duplex home is located in the heart of Uptown. The property features 2 bedrooms and 1 bathroom on each side, as well as spacious fenced-in backyard. This home is centrally located. Cash, conventional loan or investors only.

21. 2025-11-08
    price $210,000 237-char remark

    Show marketing remark (237 chars)

    This charming duplex home is located in the heart of Uptown. The property features 2 bedrooms and 1 bathroom on each side, as well as spacious fenced-in backyard. This home is centrally located. Cash, conventional loan or investors only.

22. 2025-08-27
    price $220,000 237-char remark

    Show marketing remark (237 chars)

    This charming duplex home is located in the heart of Uptown. The property features 2 bedrooms and 1 bathroom on each side, as well as spacious fenced-in backyard. This home is centrally located. Cash, conventional loan or investors only.

23. 2025-08-27
    price $220,000 237-char remark

    Show marketing remark (237 chars)

    This charming duplex home is located in the heart of Uptown. The property features 2 bedrooms and 1 bathroom on each side, as well as spacious fenced-in backyard. This home is centrally located. Cash, conventional loan or investors only.

24. 2025-06-10
    price $235,000 237-char remark

    Show marketing remark (237 chars)

    This charming duplex home is located in the heart of Uptown. The property features 2 bedrooms and 1 bathroom on each side, as well as spacious fenced-in backyard. This home is centrally located. Cash, conventional loan or investors only.

25. 2025-06-10
    price $235,000 237-char remark

    Show marketing remark (237 chars)

    This charming duplex home is located in the heart of Uptown. The property features 2 bedrooms and 1 bathroom on each side, as well as spacious fenced-in backyard. This home is centrally located. Cash, conventional loan or investors only.

26. 2025-05-20
    listed $250,000 Active 237-char remark

    Show marketing remark (237 chars)

    This charming duplex home is located in the heart of Uptown. The property features 2 bedrooms and 1 bathroom on each side, as well as spacious fenced-in backyard. This home is centrally located. Cash, conventional loan or investors only.

27. 2025-05-20
    listed $250,000 Active 237-char remark

    Show marketing remark (237 chars)

    This charming duplex home is located in the heart of Uptown. The property features 2 bedrooms and 1 bathroom on each side, as well as spacious fenced-in backyard. This home is centrally located. Cash, conventional loan or investors only.

28. 2025-02-18
    soldstatus $76,972
29. 2024-04-06
    price $189,900
30. 2023-07-09
    listed $189,900

ⓘ 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: $2,092 · $174/mo
• Projected year-2 tax: $2,092 · $174/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) · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥108°F today · 18 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,908
• − Mortgage interest: −$11,763
• − Property taxes: −$2,092
• − Insurance: −$1,847
• − Repairs & maintenance: −$2,793
• − Management: −$2,793
• − Depreciation: −$6,109
• Taxable income: $7,511
• Est. tax owed @ 24.0%: −$1,803
• After-tax cash flow: $8,620/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): 17,821
• Household income: $61,174
• Rent vs Own: 53.3% rent · 46.7% own
• Severe rent burden: 1270.0

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: Black 51% White 32% Hispanic / Latino 9% Two or more races 9% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 8% Romanian 1% Slovak 1%
• Foreign-born: 7% · Canada, China
• Languages at home: 90% English-only · Spanish 6% French/Haitian/Cajun 1% Chinese 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: ▼ -49.68%
• Current HPI: 255.5998
• Rent YoY: ▲ 0.73%
• 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

+10.6% since first listed

15 events — show timeline

• 2026-04-06 Relisted — AcadianaMLS
• 2026-04-06 Relisted — GSREIN
• 2026-03-09 Pending — AcadianaMLS
• 2026-03-09 Pending — GSREIN
• 2025-11-12 Price Changed $210,000 AcadianaMLS
• 2025-11-08 Price Changed $210,000 GSREIN
• 2025-08-27 Price Changed $220,000 AcadianaMLS
• 2025-08-27 Price Changed $220,000 GSREIN
• 2025-06-10 Price Changed $235,000 AcadianaMLS
• 2025-06-10 Price Changed $235,000 GSREIN
• 2025-05-20 Listed $250,000 GSREIN
• 2025-05-20 Listed $250,000 AcadianaMLS
• 2025-02-18 Sold (Public Records) $76,972 Public Records
• 2024-04-06 Price Changed $189,900 GSREIN
• 2023-07-09 Listed $189,900 AcadianaMLS

Property tax history

+2.1%/yr

Latest (2026): $2,092 · -0.4% YoY. Source: county tax records.