2411 11 Saint Ann St · New Orleans, LA 70119

$489,000

9 bd · 3.9 ba · 2,211 sqft · MultiFamily · 2 Days on market

Built 1940 Good condition

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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 +24.0/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +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: 3 units. confirmed

Listing remarks MLS

Each spacious unit features two stories with 4 bedrooms and 2 full baths, including two bedrooms and one bath on each level. One upstairs bedroom is currently used as a dining room, offering flexible living arrangements. Renovated kitchens and bathrooms showcase granite countertops, stainless steel appliances, and 5-burner gas stoves. Beautiful wood, ceramic, and porcelain flooring, along with soaring ceilings on the main floor, add to the home's character and appeal.Enjoy relaxing on the covered front porch with its inviting seating area. Storage is abundant both inside and out. Parking is exceptional with two attached front garages, a 25' x 15' detached garage, and a gated driveway with space for up to three additional vehicles.Additional features include a fenced yard, security system, and low flood insurance. Conveniently located just around the corner from the legendary Dooky Chase's Restaurant and only minutes from the French Quarter, City Park, parade routes, Bayou St. John, restaurants, shopping, and entertainment. Easy access to nearby Lafitte Greenway paths makes exploring the city a breeze. A rare opportunity to own a versatile property in a prime New Orleans location!

Key facts

• 5 burner gas stoves
• Wood flooring
• Renovated kitchens

Tags

• TWO STORIES
• RENOVATED KITCHENS
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• 5 BURNER GAS STOVES
• WOOD FLOORING

Property features AI

Finance

• Financial info: Two total rental units

Exterior

• Parking: Covered garage parking; Three or more parking spaces
• Utilities: Public water; Public sewer; Electricity, gas, and water utilities paid by owner (multi-unit)
• Home design: Duplex (2-unit building); 2 stories
• Construction: Frame and stucco construction; Shingle roof; Slab foundation; Built on a 3,803 sq ft city lot with rectangular shape
• Exterior features: Courtyard; Fenced yard; Front porch

Interior

• Bedrooms: Each unit has 4 bedrooms (Units 2411 and 2409)
• Bathrooms: Each unit has 2 full bathrooms (total 4 full bathrooms across the property)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Two separate residential units (duplex); Excellent condition
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.3-bath units multifamily listed at $489k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $962 ($12k/yr) — positive. Per door: $321/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $489k).
• Cap rate 8.7% 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 soft (-0.2%/yr); 381 active listings in the ZIP; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $5,495/mo this rent would consume 124% of the median local household income ($53k/yr) (locally 3381% 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 $3k of loan paydown is wiped out by about $15k 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $489,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.12% ✓
• Cap rate: 8.65%
• Cash-on-cash: 8.43%
• DSCR: 1.38
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -6.9%
• Equity multiple: 0.75×
• Total profit: $-34,010
• Equity at exit: $72,911

10-year hold

• IRR: -1.6%
• Equity multiple: 0.91×
• Total profit: $-12,644
• Equity at exit: $42,280

Cash invested: $136,920 (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 70119

• Home prices YoY: -34.8%
• Rents YoY: -0.2%
• Active inventory: 381
• Price-to-rent: 22.2×

Monthly cashflow live

• Estimated rent: $5,495 high
• Mortgage (P&I): −$2,564
• Tax est. 1.5%: −$611 /mo · $7,335/yr
• Insurance: −$204
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,154
• Net cashflow: $962

Break-even live

Break-even rent $4,278

Max offer price $489,000

Occupancy floor 78%

Sensitivity live

Price	-10% $1,300	-5% $1,131	+0% $962	+5% $793	+10% $624
Rent	-10% $528	-5% $745	+0% $962	+5% $1,179	+10% $1,396
Rate	-1.0pp $1,208	-0.5pp $1,086	base $962	+0.5pp $835	+1.0pp $706

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.3	$5,496
Total (3 units)			$5,495

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: $122,250
• Closing costs: $14,670
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-18
   days on market $489,000 Active 2 DOM
2. 2026-06-16
   remarks 699-char remark

   Show marketing remark (1198 chars)

   Each spacious unit features two stories with 4 bedrooms and 2 full baths, including two bedrooms and one bath on each level. One upstairs bedroom is currently used as a dining room, offering flexible living arrangements. Renovated kitchens and bathrooms showcase granite countertops, stainless steel appliances, and 5-burner gas stoves. Beautiful wood, ceramic, and porcelain flooring, along with soaring ceilings on the main floor, add to the home's character and appeal.Enjoy relaxing on the covered front porch with its inviting seating area. Storage is abundant both inside and out. Parking is exceptional with two attached front garages, a 25' x 15' detached garage, and a gated driveway with space for up to three additional vehicles.Additional features include a fenced yard, security system, and low flood insurance. Conveniently located just around the corner from the legendary Dooky Chase's Restaurant and only minutes from the French Quarter, City Park, parade routes, Bayou St. John, restaurants, shopping, and entertainment. Easy access to nearby Lafitte Greenway paths makes exploring the city a breeze. A rare opportunity to own a versatile property in a prime New Orleans location!

3. 2026-06-16
   listed $489,000 Active 1 DOM

   Show marketing remark (1198 chars)

   Each spacious unit features two stories with 4 bedrooms and 2 full baths, including two bedrooms and one bath on each level. One upstairs bedroom is currently used as a dining room, offering flexible living arrangements. Renovated kitchens and bathrooms showcase granite countertops, stainless steel appliances, and 5-burner gas stoves. Beautiful wood, ceramic, and porcelain flooring, along with soaring ceilings on the main floor, add to the home's character and appeal.Enjoy relaxing on the covered front porch with its inviting seating area. Storage is abundant both inside and out. Parking is exceptional with two attached front garages, a 25' x 15' detached garage, and a gated driveway with space for up to three additional vehicles.Additional features include a fenced yard, security system, and low flood insurance. Conveniently located just around the corner from the legendary Dooky Chase's Restaurant and only minutes from the French Quarter, City Park, parade routes, Bayou St. John, restaurants, shopping, and entertainment. Easy access to nearby Lafitte Greenway paths makes exploring the city a breeze. A rare opportunity to own a versatile property in a prime New Orleans location!

ⓘ 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: $65,940
• − Mortgage interest: −$27,392
• − Property taxes: −$7,335
• − Insurance: −$2,445
• − Repairs & maintenance: −$5,275
• − Management: −$5,275
• − Depreciation: −$14,225
• Taxable income: $3,993
• Est. tax owed @ 24.0%: −$958
• After-tax cash flow: $10,582/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 80/100 Cosmetic rehab

This multi-family home is in good condition with modern amenities and a well-maintained exterior. It is ready for a new owner or tenant.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace gutters — Prevents water damage and improves aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace gutters — Prevents water damage and improves aesthetics ↑

ⓘ 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): 37,253
• Household income: $53,143
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 3381.0

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 0.64)
• Race & ethnicity: Black 44% White 40% Two or more races 10% Hispanic / Latino 9% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 8% Slovak 2% Romanian 1%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 1% Other Indo-European 0%

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: ▼ -135.38%
• Current HPI: 253.1929
• Rent YoY: ▼ -0.20%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-06-16 Listed $489,000 AcadianaMLS
• 2026-06-16 Listed $489,000 GSREIN