1328 Ptolemy St · New Orleans, LA 70114

$249,000

3 bd · 1.0 ba · 1,156 sqft · MultiFamily public records · 205 Days on market

Built 2013 $215/sqft · 139% above area

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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 +21.9/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +4.8/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• 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

GREAT FOR OWNER OCCUPIED WITH TENANT OR INVESTMENT! APT A IS CURRENTLY RENTED FOR $800. APT B IS VACANT AND EASILY SHOWN. RENTS COULD BE HIGHER! UNITS ARE SEPARATELY METERED FOR WATER AND ELECTRICITY! FRONT AND REAR PORCH WITH RAMP ON LEFT SIDE THAT LEADS TO REAR ENTRANCE! WASHER DRYER HOOKUPS!

Key facts

• Front and rear porch
• Washer dryer hookups
• Parking

Tags

• FRONT AND REAR PORCH
• WASHER DRYER HOOKUPS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $249k.

Deal economics

• At list price, monthly cash flow is $327 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $244k (1.8% below list).
• Recommended offer: $219k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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 soft (-0.7%/yr); 265 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); lower-income renter base — watch delinquency; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,445/mo this rent would consume 67% of the median local household income ($43k/yr) (locally 2240% 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 205 days — a 12% lower offer ($219k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 28y 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 $37k; list at $249k implies a 573% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; 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 $219,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 205 days. Have you received any prior offers? Is the seller open to a 12% 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: 0.98% ✗
• Cap rate: 8.19%
• Cash-on-cash: 6.77%
• DSCR: 1.30
• GRM: 8.5

CMA / ARV

• ARV (median comp): $150,049
• List price: $249,000
• Delta: 65.95%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -10.9%
• Equity multiple: 0.62×
• Total profit: $-26,738
• Equity at exit: $37,127

10-year hold

• IRR: -6.2%
• Equity multiple: 0.65×
• Total profit: $-24,318
• Equity at exit: $21,529

Cash invested: $69,720 (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 70114

• Rents YoY: -0.7%
• Active inventory: 265
• Price-to-rent: 17.0×

Monthly cashflow live

• Estimated rent: $2,445 high
• Mortgage (P&I): −$1,306
• Tax from tax record: −$129 /mo · $1,546/yr
• Insurance: −$104
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$513
• Net cashflow: $327

Break-even live

Break-even rent $2,031

Max offer price $249,000

Occupancy floor 82%

Sensitivity live

Price	-10% $468	-5% $397	+0% $327	+5% $256	+10% $186
Rent	-10% $134	-5% $230	+0% $327	+5% $423	+10% $520
Rate	-1.0pp $452	-0.5pp $390	base $327	+0.5pp $262	+1.0pp $197

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,446
Total (2 units)			$2,445

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
718 Majestic Pl New Orleans, LA	3.0	2.0	1164	$1,785	$1.53	23d	1	0.24mi
1510 Sumner St New Orleans, LA	2.0	1.0	950	$1,474	$1.55	18d	1	0.30mi
1418 Behrman Ave New Orleans, LA	2.0	1.0	876	$1,400	$1.60	18d	1	0.37mi
1108 Sumner St New Orleans, LA	3.0	1.5	1197	$1,500	$1.25	13d	1	0.41mi
1421 Numa St Unit 1421 New Orleans, LA	3.0	2.0	861	$1,400	$1.63	25d	1	0.42mi
1421 23 Numa St New Orleans, LA	3.0	2.0	861	$1,400	$1.63	16d	1	0.43mi
1421 23 Numa St New Orleans, LA	3.0	2.0	861	$1,400	$1.63	4d	1	0.43mi
909 Atlantic Ave New Orleans, LA	2.0	1.0	741	$1,200	$1.62	25d	1	0.45mi
606 Drum St New Orleans, LA	3.0	2.0	1131	$2,350	$2.08	25d	1	0.48mi
807 Whitney Ave Unit 1 New Orleans, LA	3.0	2.0	1262	$1,500	$1.19	5d	1	0.50mi
810 Whitney Ave New Orleans, LA	2.0	1.0	900	$1,250	$1.39	13d	1	0.50mi
740 Thayer Unit 2A New Orleans, LA	2.0	2.0	950	$1,350	$1.42	25d	1	0.52mi
400 Park Blvd Unit A New Orleans, LA	4.0	1.5	1275	$2,200	$1.73	25d	1	0.52mi
507 Newton St New Orleans, LA	2.0	2.0	1150	$1,400	$1.22	25d	1	0.59mi
1140 Teche St Apt B New Orleans, LA	3.0	1.0	1100	$1,850	$1.68	25d	1	0.59mi
733 Elmira Ave New Orleans, LA	2.0	1.0	864	$1,100	$1.27	25d	1	0.60mi
1625 Lauradale Dr New Orleans, LA	3.0	2.0	1029	$1,700	$1.65	5d	1	0.62mi
625 Atlantic Ave New Orleans, LA	2.0	1.0	780	$1,400	$1.79	19d	1	0.63mi
1136 Brooklyn Ave New Orleans, LA	3.0	1.0	913	$1,600	$1.75	25d	1	0.65mi
701 Behrman Ave New Orleans, LA	3.0	2.0	1368	$2,300	$1.68	5d	1	0.66mi
1010 Isbell St Gretna, LA	3.0	1.0	1300	$1,350	$1.04	45d	1	0.68mi
543 Atlantic Ave New Orleans, LA	2.0	2.5	1430	$2,200	$1.54	25d	1	0.69mi
537 Pacific Ave New Orleans, LA	2.0	1.0	750	$1,400	$1.87	5d	1	0.71mi
537 Pacific Ave New Orleans, LA	2.0	1.0	750	$1,400	$1.87	5d	1	0.71mi
620 Opelousas Ave Unit 103 New Orleans, LA	2.0	1.5	1000	$1,650	$1.65	5d	1	0.73mi
724 Evelina St Unit B New Orleans, LA	2.0	1.0	1000	$1,600	$1.60	19d	1	0.76mi
601 Vallette St New Orleans, LA	2.0	1.0	815	$1,600	$1.96	5d	1	0.77mi
2243 Kraft Pl New Orleans, LA	2.0	1.0	865	$1,200	$1.39	25d	1	0.77mi
335 Whitney Ave New Orleans, LA	2.0	1.0	1100	$1,575	$1.43	25d	1	0.84mi
336 Elmira Ave New Orleans, LA	3.0	1.0	1250	$1,825	$1.46	25d	1	0.88mi
325 Elmira Ave Unit 325 New Orleans, LA	3.0	1.5	1050	$1,525	$1.45	25d	1	0.91mi
329 Belleville St New Orleans, LA	2.0	1.0	1014	$1,500	$1.48	25d	1	0.92mi
521 Bouny St New Orleans, LA	2.0	1.0	950	$1,400	$1.47	25d	1	0.93mi
519 Bouny St New Orleans, LA	2.0	1.0	950	$1,400	$1.47	25d	1	0.93mi
500 Powder St Unit B New Orleans, LA	2.0	1.0	1085	$1,600	$1.47	25d	1	0.95mi
1719 Pace Blvd New Orleans, LA	3.0	1.0	1178	$2,000	$1.70	13d	1	0.95mi
517 Burmaster St Gretna, LA	2.0	1.0	900	$1,600	$1.78	45d	1	0.95mi
429 Pelican Ave New Orleans, LA	2.0	1.0	734	$1,490	$2.03	19d	1	1.02mi
1622 Jo Ann Pl New Orleans, LA	3.0	1.5	1301	$1,500	$1.15	4d	1	1.06mi
1945 Pace Blvd Unit 104 New Orleans, LA	2.0	1.0	1000	$1,250	$1.25	25d	1	1.06mi

Listing history 34 events

1. 2026-06-21
   days on market $249,000 Active 205 DOM
2. 2026-06-18
   days on market $249,000 Active 202 DOM
3. 2026-06-17
   days on market $249,000 Active 201 DOM
4. 2026-06-16
   days on market $249,000 Active 200 DOM
5. 2026-06-15
   days on market $249,000 Active 199 DOM
6. 2026-06-13
   days on market $249,000 Active 197 DOM
7. 2026-06-10
   days on market $249,000 Active 194 DOM
8. 2026-06-09
   days on market $249,000 Active 193 DOM
9. 2026-06-08
   days on market $249,000 Active 192 DOM
10. 2026-06-07
    days on market $249,000 Active 191 DOM
11. 2026-06-05
    days on market $249,000 Active 188 DOM
12. 2026-06-03
    days on market $249,000 Active 187 DOM
13. 2026-06-02
    days on market $249,000 Active 186 DOM
14. 2026-06-01
    days on market $249,000 Active 185 DOM
15. 2026-05-31
    days on market $249,000 Active 184 DOM
16. 2025-11-24
    listed $249,000 Active 295-char remark

    Show marketing remark (295 chars)

    GREAT FOR OWNER OCCUPIED WITH TENANT OR INVESTMENT! APT A IS CURRENTLY RENTED FOR $800. APT B IS VACANT AND EASILY SHOWN. RENTS COULD BE HIGHER! UNITS ARE SEPARATELY METERED FOR WATER AND ELECTRICITY! FRONT AND REAR PORCH WITH RAMP ON LEFT SIDE THAT LEADS TO REAR ENTRANCE! WASHER DRYER HOOKUPS!

17. 2025-11-24
    listed $249,000 Active 295-char remark

    Show marketing remark (295 chars)

    GREAT FOR OWNER OCCUPIED WITH TENANT OR INVESTMENT! APT A IS CURRENTLY RENTED FOR $800. APT B IS VACANT AND EASILY SHOWN. RENTS COULD BE HIGHER! UNITS ARE SEPARATELY METERED FOR WATER AND ELECTRICITY! FRONT AND REAR PORCH WITH RAMP ON LEFT SIDE THAT LEADS TO REAR ENTRANCE! WASHER DRYER HOOKUPS!

18. 2012-11-14
    soldstatus $37,000
19. 2012-11-09
    soldstatus $37,000
20. 2011-06-23
    listed $49,000
21. 2011-06-23
    listed $49,000
22. 2011-06-23
    listed $49,000
23. 2011-06-23
    listed $49,000
24. 2008-10-20
    soldstatus $28,500
25. 2008-08-04
    soldstatus $33,334
26. 2008-07-23
    listed $34,900
27. 2008-07-23
    listed $34,900
28. 2003-09-11
    soldstatus $43,938
29. 2003-05-13
    listed $80,000
30. 2003-05-13
    listed $80,000
31. 2001-01-05
    soldstatus $75,000
32. 1998-06-03
    soldstatus $59,500
33. 1998-04-21
    listed $64,900
34. 1998-04-21
    listed $64,900

ⓘ 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: $1,546 · $129/mo
• Projected year-2 tax: $1,546 · $129/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) · 76% 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,340
• − Mortgage interest: −$13,948
• − Property taxes: −$1,546
• − Insurance: −$2,042
• − Repairs & maintenance: −$2,347
• − Management: −$2,347
• − Depreciation: −$7,244
• Taxable loss: −$134
• Est. tax savings @ 24.0%: +$32
• After-tax cash flow: $3,953/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): 22,659
• Household income: $43,493
• Rent vs Own: 58.8% rent · 41.2% own
• Severe rent burden: 2240.0

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: Predominantly Black (72%)
• Race & ethnicity: Black 72% White 16% Hispanic / Latino 8% Two or more races 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Slovak 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -98.56%
• Current HPI: 149.0172
• Rent YoY: ▼ -0.72%
• 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

+283.7% since first listed

19 events — show timeline

• 2025-11-24 Listed $249,000 GSREIN
• 2025-11-24 Listed $249,000 AcadianaMLS
• 2012-11-14 Sold (Public Records) $37,000 Public Records
• 2012-11-09 Sold (MLS) $37,000 GSREIN
• 2011-06-23 Listed $49,000 GSREIN
• 2011-06-23 Listed $49,000 AcadianaMLS
• 2011-06-23 Listed $49,000 AcadianaMLS
• 2011-06-23 Listed $49,000 GSREIN
• 2008-10-20 Sold (MLS) $28,500 GSREIN
• 2008-08-04 Sold (Public Records) $33,334 Public Records
• 2008-07-23 Listed $34,900 AcadianaMLS
• 2008-07-23 Listed $34,900 GSREIN
• 2003-09-11 Sold (MLS) $43,938 GSREIN
• 2003-05-13 Listed $80,000 GSREIN
• 2003-05-13 Listed $80,000 AcadianaMLS
• 2001-01-05 Sold (Public Records) $75,000 Public Records
• 1998-06-03 Sold (MLS) $59,500 GSREIN
• 1998-04-21 Listed $64,900 AcadianaMLS
• 1998-04-21 Listed $64,900 GSREIN

Property tax history

+7.9%/yr

Latest (2026): $1,546 · +0.0% YoY. Source: county tax records.