2530-32 Martin Luther King Jr Blvd · New Orleans, LA 70113

$350,000

None bd · None ba · 2,200 sqft · MultiFamily · 97 Days on market

Good condition 1,716 sqft lot $159/sqft · 62% 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 +19.3/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• 1% rule +5.1/10.0
• Rent growth +4.0/5.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Schools +1.6/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Build in 2025 this muti family income producing property is available for sale. featuring 3 bedrooms 2 bath for each unit. totaling 6 bedrooms 4 bath rooms total. Stainless steel appliances gross rents totaling $3734 per month.

Key facts

• 1,716 sq ft lot
• Listed 97 days

What this means for you Summary

Snapshot

• This is a multifamily listed at $350k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $315 ($4k/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: $318k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.6% 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.
• Market conditions: Rents rising fast (+6.0%/yr); 137 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); lower-income renter base — watch delinquency; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,545/mo this rent would consume 108% of the median local household income ($39k/yr) (locally 714% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $37k of equity ($2k loan paydown + $35k appreciation (10.0% local appreciation)).
• Orleans County population projected at +61% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 6.0% rent growth), your $98k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$60k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($318k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $35k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $318,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% 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: 1.01% ✓
• Cap rate: 7.60%
• Cash-on-cash: 4.67%
• DSCR: 1.21
• GRM: 8.2

CMA / ARV

• ARV (median comp): $215,810
• List price: $350,000
• Delta: 62.18%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2124 26 Rev John Raphel Jr Way	0.11mi	4/4.0	2,369 (+8%)	5mo	$199,900	$84	78
2122 24 Rev John Raphel Jr Way	0.25mi	4/4.0	2,369 (+8%)	5mo	$199,900	$84	72
2217 Willow St	0.28mi	4/3.0	2,082 (-5%)	8mo	$189,000	$91	71
2013 15 St Andrew St	0.36mi	6/2.0	2,084 (-5%)	6mo	$252,000	$121	70
2419 S Saratoga St	0.51mi	6/3.0	2,280 (+4%)	0mo	$400,000	$175	70
2121 St Andrew St	0.32mi	6/4.0	2,430 (+10%)	3mo	$414,000	$170	65
2233-2235 Josephine St	0.25mi	4/2.0	1,938 (-12%)	8mo	$159,000	$82	61
1917 19 Josephine St	0.45mi	6/6.0	2,369 (+8%)	7mo	$375,000	$158	60
2113-15 Fourth St	0.59mi	—/—	2,379 (+8%)	0mo	$315,000	$132	59
2113 15 Fourth St	0.59mi	5/3.0	2,379 (+8%)	0mo	$315,000	$132	59
2023 A B First St	0.56mi	6/4.5	2,445 (+11%)	1mo	$485,000	$198	55
2712 14 S Johnson St	0.68mi	4/4.0	1,870 (-15%)	6mo	$246,200	$132	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 5.98% rent growth · sell at horizon

5-year hold

• IRR: 28.2%
• Equity multiple: 3.26×
• Total profit: $221,742
• Equity at exit: $315,308

10-year hold

• IRR: 25.5%
• Equity multiple: 7.76×
• Total profit: $662,439
• Equity at exit: $679,973

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 70113

• Rents YoY: 6.0%
• Active inventory: 137
• Price-to-rent: 16.5×

Monthly cashflow live

• Estimated rent: $3,545 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: −$744
• Net cashflow: $315

Break-even live

Break-even rent $3,146

Max offer price $350,000

Occupancy floor 86%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,546
Total (2 units)			$3,545

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
1407 Magnolia St New Orleans, LA	3.0	2.0	1824	$1,500	$0.82	23d	1	0.12mi
2318 Martin Luther King Junior Blvd New Orleans, LA	3.0	2.0	1400	$1,700	$1.21	23d	1	0.12mi
2702 Felicity St Unit 4 New Orleans, LA	1.0	1.0	1734	$825	$0.48	3d	1	0.15mi
2123 S Liberty St Unit 2125 New Orleans, LA	3.0	2.0	1500	$2,100	$1.40	3d	1	0.25mi
2231 S Liberty St New Orleans, LA	3.0	3.5	1752	$2,000	$1.14	17d	1	0.31mi
1944 Jackson Ave New Orleans, LA	3.0	2.5	1572	$2,500	$1.59	44d	1	0.44mi
2403 S Saratoga St New Orleans, LA	3.0	2.5	1600	$2,500	$1.56	23d	1	0.49mi
1201 Baronne St #1 New Orleans, LA	3.0	2.5	1892	$2,700	$1.43	17d	1	0.52mi
1201 Baronne St #2 New Orleans, LA	2.0	2.5	1998	$1,850	$0.93	17d	1	0.52mi
2301 Dryades St New Orleans, LA	3.0	3.0	2070	$3,000	$1.45	3d	1	0.56mi
875 O'Keefe Ave #301 New Orleans, LA	3.0	2.5	2029	$4,500	$2.22	17d	1	0.57mi
1001 Julia St Unit 10B New Orleans, LA	2.0	2.0	1418	$6,650	$4.69	10d	1	0.60mi
1100 Girod St Unit PHC New Orleans, LA	2.0	2.5	1609	$5,500	$3.42	12d	1	0.63mi
822 Howard Ave Unit 1272354P New Orleans, LA	1.0–5.0	1.0–4.0	1749	$3,985	$2.28	1d	3	0.64mi
1000 Girod St Ph 2 New Orleans, LA	3.0	3.5	2008	$4,800	$2.39	44d	1	0.64mi
2614 S Johnson St New Orleans, LA	3.0	2.0	1536	$2,079	$1.35	14d	1	0.65mi
803 Baronne St New Orleans, LA	3.0	2.0	1791	$3,525	$1.97	3d	1	0.66mi
2617 S Johnson St New Orleans, LA	2.0	1.0	1500	$1,300	$0.87	23d	1	0.67mi
2833 S Derbigny St New Orleans, LA	3.0	2.0	1500	$1,795	$1.20	23d	1	0.68mi
801 Saint Joseph St #1 New Orleans, LA	2.0	2.5	2400	$14,000	$5.83	44d	1	0.68mi
1716 Saint Charles Ave Unit A New Orleans, LA	1.0	1.0	1631	$3,500	$2.15	44d	1	0.69mi
1525 Melpomene St Unit Na New Orleans, LA	3.0	1.5	1700	$4,000	$2.35	44d	1	0.72mi
840 Carondelet St New Orleans, LA	1.0–2.0	1.0–2.0	1220	$4,325	$3.55	1d	4	0.73mi
518 S Rampart St New Orleans, LA	3.0	2.0	1853	$3,995	$2.16	3d	1	0.73mi
2625 Baronne St Unit 1 New Orleans, LA	3.0	1.5	2100	$2,600	$1.24	44d	1	0.73mi
2606 S Miro St New Orleans, LA	3.0	2.0	1450	$2,016	$1.39	23d	1	0.74mi
1908 Washington Ave Unit NA New Orleans, LA	2.0	2.5	1498	$2,100	$1.40	20d	1	0.74mi
1750 Saint Charles Ave #516 New Orleans, LA	2.0	2.0	1507	$2,600	$1.73	16d	1	0.74mi
2100 Saint Charles Ave New Orleans, LA	1.0–2.0	1.5–2.0	1077	$3,500	$3.25	3d	2	0.74mi
2100 Saint Charles Ave Unit 3M New Orleans, LA	2.0	2.0	1425	$3,500	$2.46	44d	1	0.75mi
1635 2nd St New Orleans, LA	2.0	1.0	1500	$2,175	$1.45	16d	1	0.75mi
2713 Baronne St New Orleans, LA	3.0	2.5	1600	$2,300	$1.44	23d	1	0.75mi
825 Lafayette St #4 New Orleans, LA	2.0	2.0	1642	$3,800	$2.31	44d	1	0.81mi
3044 Louisiana Avenue Pkwy New Orleans, LA	3.0	2.0	1800	$1,900	$1.06	23d	1	0.81mi
2010 Prytania St New Orleans, LA	2.0	2.0	1600	$2,350	$1.47	23d	1	0.82mi
3429 Clara St New Orleans, LA	3.0	2.0	1620	$2,350	$1.45	14d	1	0.83mi
3035 Delachaise St New Orleans, LA	3.0	1.0	1968	$1,750	$0.89	2d	1	0.84mi
4027 S Derbigny St New Orleans, LA	3.0	2.0	2950	$1,950	$0.66	23d	1	0.90mi
1330 Saint Mary St New Orleans, LA	2.0	2.0	1486	$2,795	$1.88	23d	1	0.90mi
3212 Danneel St New Orleans, LA	3.0	2.0	1945	$2,000	$1.03	23d	1	0.90mi

Listing history 22 events

1. 2026-06-18
   days on market $350,000 Active 97 DOM
2. 2026-06-17
   days on market $350,000 Active 96 DOM
3. 2026-06-16
   days on market $350,000 Active 95 DOM
4. 2026-06-15
   days on market $350,000 Active 94 DOM
5. 2026-06-13
   days on market $350,000 Active 92 DOM
6. 2026-06-10
   days on market $350,000 Active 89 DOM
7. 2026-06-09
   days on market $350,000 Active 88 DOM
8. 2026-06-08
   days on market $350,000 Active 87 DOM
9. 2026-06-07
   days on market $350,000 Active 86 DOM
10. 2026-06-05
    pricedays on market $350,000 Active 83 DOM
11. 2026-06-03
    days on market $365,000 Active 82 DOM
12. 2026-06-02
    days on market $365,000 Active 81 DOM
13. 2026-06-01
    days on market $365,000 Active 80 DOM
14. 2026-05-31
    days on market $365,000 Active 79 DOM
15. 2026-05-12
    historical $1,850
16. 2026-04-25
    price $365,000 227-char remark

    Show marketing remark (227 chars)

    Build in 2025 this muti family income producing property is available for sale. featuring 3 bedrooms 2 bath for each unit. totaling 6 bedrooms 4 bath rooms total. Stainless steel appliances gross rents totaling $3734 per month.

17. 2026-04-16
    price $380,000 227-char remark

    Show marketing remark (227 chars)

    Build in 2025 this muti family income producing property is available for sale. featuring 3 bedrooms 2 bath for each unit. totaling 6 bedrooms 4 bath rooms total. Stainless steel appliances gross rents totaling $3734 per month.

18. 2026-03-31
    price $1,850
19. 2026-03-06
    listed $385,000 Active 227-char remark

    Show marketing remark (227 chars)

    Build in 2025 this muti family income producing property is available for sale. featuring 3 bedrooms 2 bath for each unit. totaling 6 bedrooms 4 bath rooms total. Stainless steel appliances gross rents totaling $3734 per month.

20. 2026-02-06
    listed $2,100
21. 2024-11-29
    price $429,000
22. 2024-11-15
    listed $449,000 Active

ⓘ 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 · 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,540
• − Mortgage interest: −$19,605
• − Property taxes: −$5,250
• − Insurance: −$2,548
• − Repairs & maintenance: −$3,403
• − Management: −$3,403
• − Depreciation: −$10,182
• Taxable loss: −$1,851
• Est. tax savings @ 24.0%: +$444
• After-tax cash flow: $4,228/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 · 12 photos

Good 80/100 None rehab

This multi-family property is in excellent condition with modern amenities and a well-maintained exterior. It is ready for immediate occupancy and can be further enhanced with smart home features and landscaping improvements.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances the home's curb appeal and can attract more buyers or renters.
• Both Add smart home features — Improves convenience and can increase the home's market value.
• Both Add a smart thermostat — Enhances energy efficiency and can be a selling point for buyers.
• Both Add a smart security system — Enhances safety and can be a selling point for buyers.
• Both Add a smart lighting system — Enhances energy efficiency and can be a selling point for buyers.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances the home's curb appeal and can attract more buyers or renters. ↑
• Both Add smart home features — Improves convenience and can increase the home's market value. ↑
• Both Add a smart thermostat — Enhances energy efficiency and can be a selling point for buyers. ↑
• Both Add a smart security system — Enhances safety and can be a selling point for buyers. ↑
• Both Add a smart lighting system — Enhances energy efficiency and can be a selling point for buyers. ↑

ⓘ 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): 9,387
• Household income: $39,333
• Rent vs Own: 75.4% rent · 24.6% own
• Severe rent burden: 714.0

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 0.57)
• Race & ethnicity: Black 61% White 20% Hispanic / Latino 13% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 2% Portuguese 1% Slovak 1%
• Foreign-born: 13% · Canada, Vietnam, China
• Languages at home: 86% English-only · Spanish 11% Other Indo-European 1% Vietnamese 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: ▲ 65.92%
• Current HPI: 229.3968
• Rent YoY: ▲ 5.98%
• 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

-99.6% since first listed

8 events — show timeline

• 2026-05-12 Rental Removed $1,850 RAAMLS
• 2026-04-25 Price Changed $365,000 AcadianaMLS
• 2026-04-16 Price Changed $380,000 AcadianaMLS
• 2026-03-31 Price Changed $1,850 RAAMLS
• 2026-03-06 Listed $385,000 AcadianaMLS
• 2026-02-06 Listed for Rent $2,100 RAAMLS
• 2024-11-29 Price Changed $429,000 AcadianaMLS
• 2024-11-15 Listed $449,000 AcadianaMLS