2429 Almonasters Ave · New Orleans, LA 70117

$224,900

4 bd · 2.0 ba · 1,798 sqft · MultiFamily · 70 Days on market

Built 2022 Good condition 3,898 sqft lot $125/sqft · at area comps Est $233k · at est. ↓ 31% since listing

---

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 +27.6/30.0
• DSCR +9.7/10.0
• ARV discount +9.1/15.0
• 1% rule +7.9/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +3.1/5.0
• 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

Cottage style double is looking for you. Great possibility for owner/occupant to live in one side and rent the other side to help with the note, also can be a great investment property. The front unit has a porch with an open kitchen and living area, 2 nice size bedrooms and 1 full bath. Bath has separate vanity area from tub/shower, commode, inside laundry has hookups for stackable washer/dryer. The rear unit has a small front porch but has a nice covered rear porch overlooking the back yard. This unit also has open living room and kitchen area, with 2 bedrooms 1 full bath inside laundry hookup for stackable washer/dryer.

Key facts

• 3,898 sq ft lot
• Built 2022
• Listed 70 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $225k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $247 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $211k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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 (+2.5%/yr); 581 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 $2,906/mo this rent would consume 76% 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 $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 70 days — a 6% lower offer ($211k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y 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 $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $211,406 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.29% ✓
• Cap rate: 9.89%
• Cash-on-cash: 12.83%
• DSCR: 1.57
• GRM: 6.4

CMA / ARV

• ARV (median comp): $233,085
• List price: $224,900
• Delta: -3.51%
• 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
2517 N Miro St	0.33mi	4/2.0	1,857 (+3%)	7mo	$50,000	$27	73
2421 Feliciana St	0.31mi	4/2.0	1,572 (-13%)	2mo	$113,900	$72	63
3129 31 N Claiborne Ave	0.74mi	4/2.0	1,806 (+0%)	3mo	$267,150	$148	62
1805 07 St Roch Ave	0.61mi	4/2.0	1,914 (+6%)	1mo	$290,000	$152	60
2437-2439 St Roch Ave	0.44mi	3/3.0 (-1)	1,750 (-3%)	11mo	$51,000	$29	57
2105 07 Arts St	0.39mi	4/3.0	1,598 (-11%)	3mo	$265,000	$166	57
3114-3116 Clouet St	0.66mi	5/3.0 (+1)	1,814 (+1%)	3mo	$320,000	$176	56
2211 13 Mandeville St	0.60mi	4/2.0	1,644 (-9%)	2mo	$195,000	$119	56
3133 31 Clouet St	0.53mi	5/3.0 (+1)	1,814 (+1%)	11mo	$313,000	$173	56
1736 38 Louisa St	0.68mi	4/2.0	1,784 (-1%)	14mo	$340,000	$191	55
3025 27 Laussat Pl	0.32mi	3/2.0 (-1)	1,570 (-13%)	14mo	$137,500	$88	47
1734 Spain St	0.71mi	5/3.0 (+1)	1,985 (+10%)	1mo	$100,000	$50	39

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: -9.5%
• Equity multiple: 0.65×
• Total profit: $-21,866
• Equity at exit: $33,533

10-year hold

• IRR: -0.8%
• Equity multiple: 0.95×
• Total profit: $-3,421
• Equity at exit: $19,445

Cash invested: $62,972 (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: 581
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $2,906 high
• Mortgage (P&I): −$1,179
• Tax from tax record: −$349 /mo · $4,193/yr
• Insurance: −$94
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$610
• Net cashflow: $247

Break-even live

Break-even rent $2,594

Max offer price $224,900

Occupancy floor 87%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,906
Total (2 units)			$2,906

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2331 Feliciana St New Orleans, LA	3.0	2.0	1250	$1,850	$1.48	24d	1	0.34mi
2228 Arts St New Orleans, LA	3.0	2.0	2270	$1,675	$0.74	3d	1	0.35mi
2115 Mandeville St New Orleans, LA	3.0	2.0	1400	$1,650	$1.18	24d	1	0.60mi
1839 Louisa St New Orleans, LA	3.0	2.0	1500	$2,095	$1.40	16d	1	0.65mi
1835 Louisa St New Orleans, LA	3.0	2.5	1800	$2,350	$1.31	3d	1	0.65mi
2028 Desire St New Orleans, LA	3.0	1.0	1300	$1,300	$1.00	24d	1	0.65mi
2739 Bay St Unit B New Orleans, LA	4.0	2.0	1400	$1,800	$1.29	20d	1	0.71mi
2107 Elysian Fields Ave New Orleans, LA	4.0	2.0	1794	$1,650	$0.92	3d	1	0.73mi
2019 Gallier St New Orleans, LA	4.0	2.0	1400	$2,200	$1.57	24d	1	0.74mi
2220 N Prieur St New Orleans, LA	3.0	2.0	1334	$2,000	$1.50	24d	1	0.78mi
2644 Elder St New Orleans, LA	3.0	3.0	1284	$2,200	$1.71	17d	1	0.80mi
2646 Elder St New Orleans, LA	3.0	3.0	1284	$2,200	$1.71	17d	1	0.80mi
2509 Sage St New Orleans, LA	3.0	1.0	1250	$1,650	$1.32	21d	1	0.80mi
3302 Metropolitan St New Orleans, LA	4.0	2.5	1700	$2,200	$1.29	17d	1	0.82mi
2647 Myrtle St Unit 2647 New Orleans, LA	4.0	2.0	1445	$2,550	$1.76	44d	1	0.88mi
5624-5626 Saint Claude ST New Orleans, LA	4.0	3.0	1521	$2,300	$1.51	24d	1	0.90mi
3540 Clermont Dr New Orleans, LA	3.0	2.0	1248	$1,975	$1.58	24d	1	0.91mi
1837 Touro St New Orleans, LA	3.0	1.0	1994	$2,000	$1.00	24d	1	0.94mi
3228 Pauger St New Orleans, LA	5.0	2.0	1600	$2,100	$1.31	24d	1	0.94mi
1231 Feliciana St New Orleans, LA	3.0	2.5	1869	$2,750	$1.47	44d	1	0.94mi
2920 Pauger St New Orleans, LA	4.0	2.0	1882	$1,995	$1.06	24d	1	0.96mi
1437 Gallier St New Orleans, LA	3.0	2.0	1451	$1,875	$1.29	21d	1	0.99mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	24d	1	1.06mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	44d	1	1.06mi
1938 N Johnson St Unit 38 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	24d	1	1.06mi
1936 N Johnson St Unit 36 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	24d	1	1.06mi
3221 Saint Claude Ave New Orleans, LA	3.0	1.0	1900	$1,650	$0.87	24d	1	1.10mi
1933 Industry St New Orleans, LA	3.0	2.0	1400	$1,595	$1.14	16d	1	1.14mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	3d	1	1.15mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	3d	1	1.15mi
1323 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	3d	1	1.16mi
2317 N Rampart St Unit 1272378P New Orleans, LA	3.0–6.0	2.0–4.0	1581	$4,154	$2.63	3d	2	1.18mi
2320 N Rampart St New Orleans, LA	3.0	3.0	2317	$3,700	$1.60	44d	1	1.20mi
1831 N Miro St New Orleans, LA	3.0	2.0	1882	$2,500	$1.33	44d	1	1.24mi
3134 Burgundy St New Orleans, LA	3.0	2.0	1887	$2,900	$1.54	24d	1	1.24mi
2322 Burgundy St Unit C New Orleans, LA	3.0	2.0	1250	$2,200	$1.76	24d	1	1.26mi
4230 N Claiborne Ave New Orleans, LA	3.0	2.5	1296	$1,750	$1.35	24d	1	1.26mi
3515 Saint Anthony Ave New Orleans, LA	3.0	2.0	1366	$2,500	$1.83	24d	1	1.29mi
3907 Elysian Fields Ave New Orleans, LA	3.0	2.0	1652	$3,000	$1.82	24d	1	1.30mi
1411 France St New Orleans, LA	3.0	2.0	1525	$2,000	$1.31	24d	1	1.30mi

Listing history 31 events

1. 2026-06-16
   days on market $224,900 Active 70 DOM
2. 2026-06-15
   days on market $224,900 Active 69 DOM
3. 2026-06-13
   days on market $224,900 Active 67 DOM
4. 2026-06-10
   days on market $224,900 Active 64 DOM
5. 2026-06-09
   days on market $224,900 Active 63 DOM
6. 2026-06-08
   days on market $224,900 Active 62 DOM
7. 2026-06-07
   days on market $224,900 Active 61 DOM
8. 2026-06-05
   days on market $224,900 Active 58 DOM
9. 2026-06-03
   days on market $224,900 Active 57 DOM
10. 2026-06-02
    days on market $224,900 Active 56 DOM
11. 2026-06-01
    days on market $224,900 Active 55 DOM
12. 2026-05-31
    days on market $224,900 Active 54 DOM
13. 2026-05-11
    price $224,900 630-char remark

    Show marketing remark (630 chars)

    Cottage style double is looking for you. Great possibility for owner/occupant to live in one side and rent the other side to help with the note, also can be a great investment property. The front unit has a porch with an open kitchen and living area, 2 nice size bedrooms and 1 full bath. Bath has separate vanity area from tub/shower, commode, inside laundry has hookups for stackable washer/dryer. The rear unit has a small front porch but has a nice covered rear porch overlooking the back yard. This unit also has open living room and kitchen area, with 2 bedrooms 1 full bath inside laundry hookup for stackable washer/dryer.

14. 2026-05-11
    price $224,900 630-char remark

    Show marketing remark (630 chars)

    Cottage style double is looking for you. Great possibility for owner/occupant to live in one side and rent the other side to help with the note, also can be a great investment property. The front unit has a porch with an open kitchen and living area, 2 nice size bedrooms and 1 full bath. Bath has separate vanity area from tub/shower, commode, inside laundry has hookups for stackable washer/dryer. The rear unit has a small front porch but has a nice covered rear porch overlooking the back yard. This unit also has open living room and kitchen area, with 2 bedrooms 1 full bath inside laundry hookup for stackable washer/dryer.

15. 2026-04-07
    listed $234,900 Active 630-char remark

    Show marketing remark (630 chars)

    Cottage style double is looking for you. Great possibility for owner/occupant to live in one side and rent the other side to help with the note, also can be a great investment property. The front unit has a porch with an open kitchen and living area, 2 nice size bedrooms and 1 full bath. Bath has separate vanity area from tub/shower, commode, inside laundry has hookups for stackable washer/dryer. The rear unit has a small front porch but has a nice covered rear porch overlooking the back yard. This unit also has open living room and kitchen area, with 2 bedrooms 1 full bath inside laundry hookup for stackable washer/dryer.

16. 2026-04-07
    listed $234,900 Active 630-char remark

    Show marketing remark (630 chars)

    Cottage style double is looking for you. Great possibility for owner/occupant to live in one side and rent the other side to help with the note, also can be a great investment property. The front unit has a porch with an open kitchen and living area, 2 nice size bedrooms and 1 full bath. Bath has separate vanity area from tub/shower, commode, inside laundry has hookups for stackable washer/dryer. The rear unit has a small front porch but has a nice covered rear porch overlooking the back yard. This unit also has open living room and kitchen area, with 2 bedrooms 1 full bath inside laundry hookup for stackable washer/dryer.

17. 2026-03-06
    status Active
18. 2026-01-27
    price $254,900
19. 2026-01-27
    price $254,900
20. 2025-12-23
    price $262,500
21. 2025-12-23
    price $262,500
22. 2025-12-01
    price $269,900
23. 2025-12-01
    price $269,900
24. 2025-11-26
    price $269,000
25. 2025-11-26
    price $269,000
26. 2025-10-22
    listed $279,000 Active
27. 2024-07-08
    price $335,000
28. 2024-05-29
    price $365,000
29. 2024-05-08
    listed $335,000
30. 2022-08-16
    soldstatus $325,000
31. 2022-01-24
    listed $325,000

ⓘ 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: $4,193 · $349/mo
• Projected year-2 tax: $4,193 · $349/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 AE · 78% 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 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,872
• − Mortgage interest: −$12,598
• − Property taxes: −$4,193
• − Insurance: −$6,243
• − Repairs & maintenance: −$2,790
• − Management: −$2,790
• − Depreciation: −$6,543
• Taxable loss: −$284
• Est. tax savings @ 24.0%: +$68
• After-tax cash flow: $3,029/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

Good 75/100 Cosmetic rehab

This multi-family home is in good condition with cosmetic updates needed for curb appeal and rental value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Landscaping — Improves curb appeal and rental value
• Both Replace ceiling fans — Modernizes and improves air circulation

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Landscaping — Improves curb appeal and rental value ↑
• Both Replace ceiling fans — Modernizes and improves air circulation ↑

ⓘ 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): 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

-30.8% since first listed

19 events — show timeline

• 2026-05-11 Price Changed $224,900 AcadianaMLS
• 2026-05-11 Price Changed $224,900 GSREIN
• 2026-04-07 Listed $234,900 GSREIN
• 2026-04-07 Listed $234,900 AcadianaMLS
• 2026-03-06 Relisted — AcadianaMLS
• 2026-01-27 Price Changed $254,900 AcadianaMLS
• 2026-01-27 Price Changed $254,900 GSREIN
• 2025-12-23 Price Changed $262,500 AcadianaMLS
• 2025-12-23 Price Changed $262,500 GSREIN
• 2025-12-01 Price Changed $269,900 AcadianaMLS
• 2025-12-01 Price Changed $269,900 GSREIN
• 2025-11-26 Price Changed $269,000 AcadianaMLS
• 2025-11-26 Price Changed $269,000 GSREIN
• 2025-10-22 Listed $279,000 AcadianaMLS
• 2024-07-08 Price Changed $335,000 GSREIN
• 2024-05-29 Price Changed $365,000 GSREIN
• 2024-05-08 Listed $335,000 AcadianaMLS
• 2022-08-16 Sold (Public Records) $325,000 Public Records
• 2022-01-24 Listed $325,000 AcadianaMLS

Property tax history

+157.3%/yr

Latest (2026): $4,193 · +1.1% YoY. Source: county tax records.