None · New Orleans, LA 70119

$310,000

None bd · None ba · 1,950 sqft · MultiFamily · 88 Days on market

Fair condition 3,049 sqft lot $159/sqft · 22% below area Est $398k · 22% under

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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 +17.9/30.0
• ARV discount +15.0/15.0
• DSCR +5.6/10.0
• 1% rule +4.8/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• 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

Here's an exceptional opportunity to live in the heart of Mid-City, where convenience meets culture. This double is just minutes from the Canal Streetcar line, universities, medical facilities, Bayou St John, Whole Foods, City Park, Lafitte Greenway, the CBD, local dining, bars, coffee shops and other businesses. This property is truly in a great location and presents an awesome choice to anyone desiring to be an owner-occupant or investor seeking strong rental appeal in one of the city's most vibrant neighborhoods. Whether you are expanding your portfolio or seeking a live-in investment, this property checks all the boxes. Each unit features an identical layout with hard surface flooring and ceiling fans throughout. Both units were updated during the past one to two years.

Key facts

• Updated units
• Ceiling fans
• Mid-city location

Tags

• MID-CITY LOCATION
• MINUTES FROM CANAL STREETCAR
• HARD SURFACE FLOORING
• CEILING FANS
• UPDATED UNITS

What this means for you Summary

Snapshot

• This is a multifamily listed at $310k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $194 ($2k/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 $304k (1.9% below list).
• Recommended offer: $291k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,042/mo this rent would consume 69% 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 $2k of loan paydown is wiped out by about $9k 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 88 days — a 6% lower offer ($291k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major 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 $291,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 7.30%
• Cash-on-cash: 3.61%
• DSCR: 1.16
• GRM: 8.5

CMA / ARV

• ARV (median comp): $398,142
• List price: $310,000
• Delta: -22.14%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
—	0.00mi	—/—	1,816 (-7%)	3mo	$210,000	$116	86
1668 Paul Morphy St	0.27mi	4/2.0	1,980 (+2%)	0mo	$285,000	$144	84
1707-05 Rousselin Dr	0.38mi	—/—	1,950 (0%)	0mo	$300,000	$154	82
1707 05 Rousselin Dr	0.38mi	6/2.0	1,950 (0%)	0mo	$300,000	$154	82
1682-84 N Dupre St	0.27mi	—/—	2,114 (+8%)	2mo	$400,500	$189	72
1682 84 N Dupre St	0.27mi	4/3.0	2,114 (+8%)	2mo	$400,500	$189	72
2601 03 St Ann St	0.65mi	4/2.0	1,946 (-0%)	5mo	$220,000	$113	65
2912-14 St. Peter St	0.66mi	—/—	1,912 (-2%)	2mo	$290,000	$152	64
2912 14 St. Peter St	0.67mi	4/2.0	1,912 (-2%)	2mo	$290,000	$152	64
2613-15 St Philip St	0.51mi	—/—	1,810 (-7%)	2mo	$239,000	$132	63
2613 15 St Philip St	0.51mi	6/2.0	1,810 (-7%)	2mo	$239,000	$132	63
1737 39 Duels St	0.72mi	4/2.0	1,692 (-13%)	2mo	$200,000	$118	42

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -15.6%
• Equity multiple: 0.46×
• Total profit: $-46,681
• Equity at exit: $46,222

10-year hold

• IRR: -13.5%
• Equity multiple: 0.32×
• Total profit: $-58,808
• Equity at exit: $26,803

Cash invested: $86,800 (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 70119

• Home prices YoY: -34.8%
• Rents YoY: -0.2%
• Active inventory: 381
• Price-to-rent: 17.0×

Monthly cashflow live

• Estimated rent: $3,042 high
• Mortgage (P&I): −$1,626
• Tax est. 1.5%: −$388 /mo · $4,650/yr
• Insurance: −$129
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$639
• Net cashflow: $194

Break-even live

Break-even rent $2,796

Max offer price $310,000

Occupancy floor 89%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,042
Total (2 units)			$3,042

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: $77,500
• Closing costs: $9,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1466 N White St New Orleans, LA	3.0	1.5	1500	$2,250	$1.50	3d	1	0.07mi
2664 Lepage St New Orleans, LA	3.0	2.0	1750	$2,725	$1.56	43d	1	0.16mi
3024 Esplanade Ave New Orleans, LA	3.0	2.5	2300	$4,500	$1.96	43d	1	0.26mi
2422 Columbus St New Orleans, LA	2.0	2.0	1550	$2,500	$1.61	21d	1	0.37mi
1232 N Dorgenois St New Orleans, LA	2.0	2.0	1323	$1,800	$1.36	23d	1	0.41mi
1821 Rosiere St New Orleans, LA	2.0	1.0	1400	$1,300	$0.93	23d	1	0.42mi
1823 Rosiere St New Orleans, LA	2.0	1.0	1400	$1,450	$1.04	23d	1	0.42mi
2331 Columbus St New Orleans, LA	3.0	1.0	1976	$1,850	$0.94	23d	1	0.42mi
2641 Ursulines Ave Unit A New Orleans, LA	2.0	1.0	1350	$2,200	$1.63	17d	1	0.43mi
2329 Laharpe St New Orleans, LA	3.0	1.0	1250	$1,000	$0.80	19d	1	0.43mi
1431 Leda Ct New Orleans, LA	2.0	1.0	1300	$1,950	$1.50	23d	1	0.49mi
1433 N Miro St New Orleans, LA	1.0	2.0	1227	$2,000	$1.63	10d	1	0.54mi
914 N Broad St New Orleans, LA	2.0	2.0	1450	$2,200	$1.52	23d	1	0.55mi
3702 Trafalgar St New Orleans, LA	3.0	2.0	1428	$2,350	$1.65	16d	1	0.55mi
824 N Dupre St New Orleans, LA	3.0	2.0	1315	$2,250	$1.71	17d	1	0.56mi
1901 Gentilly Blvd New Orleans, LA	3.0	2.5	2205	$4,000	$1.81	43d	1	0.57mi
3443 Esplanade Ave New Orleans, LA	3.0	1.0–2.0	997	$2,042	$2.05	3d	30	0.58mi
3100 Orleans Ave New Orleans, LA	2.0	1.0	1875	$1,350	$0.72	23d	1	0.68mi
2130 N Broad St New Orleans, LA	2.0	1.0	1579	$1,350	$0.85	23d	1	0.71mi
1831 N Miro St New Orleans, LA	3.0	2.0	1882	$2,500	$1.33	43d	1	0.77mi
2175 N Broad St New Orleans, LA	2.0	1.0	1500	$1,500	$1.00	16d	1	0.77mi
2129 Dumaine St New Orleans, LA	3.0	2.0	1226	$1,850	$1.51	3d	1	0.81mi
3700 Orleans Ave New Orleans, LA	1.0–3.0	1.0–2.0	1081	$2,285	$2.11	3d	48	0.89mi
1929 Dumaine St New Orleans, LA	3.0	1.0	1293	$1,500	$1.16	3d	1	0.91mi
1472 N Claiborne Ave New Orleans, LA	3.0	1.0	1312	$1,900	$1.45	16d	1	0.97mi
1933 Industry St New Orleans, LA	3.0	2.0	1400	$1,595	$1.14	16d	1	0.98mi
1936 N Johnson St Unit 36 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	23d	1	1.02mi
1938 N Johnson St Unit 38 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	23d	1	1.02mi
3701 Conti St New Orleans, LA	2.0	1.0–2.0	935	$2,923	$3.12	3d	17	1.03mi
1433 Esplanade Ave New Orleans, LA	3.0	2.0	2411	$5,000	$2.07	2d	1	1.04mi
315 N Miro St New Orleans, LA	3.0	3.0	1276	$2,500	$1.96	23d	1	1.06mi
315 N Miro St New Orleans, LA	3.0	3.0	1276	$2,300	$1.80	20d	1	1.06mi
1423 N Villere St Unit A New Orleans, LA	2.0	3.0	1964	$2,500	$1.27	43d	1	1.07mi
1434 Annette St New Orleans, LA	2.0	1.0	1536	$1,700	$1.11	3d	1	1.09mi
1434 Annette St New Orleans, LA	2.0	1.0	1536	$1,700	$1.11	3d	1	1.09mi
4226 Dumaine St New Orleans, LA	3.0	2.0	1411	$2,250	$1.59	17d	1	1.11mi
2033 Conti St New Orleans, LA	3.0	3.0	1249	$2,250	$1.80	14d	1	1.11mi
4227 Saint Ann St New Orleans, LA	3.0	2.0	1900	$2,800	$1.47	3d	1	1.13mi
2105 Bienville St New Orleans, LA	3.0	3.0	1231	$2,350	$1.91	17d	1	1.13mi
1908 Saint Louis St New Orleans, LA	3.0	3.0	1234	$2,300	$1.86	23d	1	1.13mi

Listing history 15 events

1. 2026-06-18
   days on market $310,000 Active 88 DOM
2. 2026-06-17
   days on market $310,000 Active 87 DOM
3. 2026-06-16
   days on market $310,000 Active 86 DOM
4. 2026-06-15
   days on market $310,000 Active 85 DOM
5. 2026-06-13
   days on market $310,000 Active 83 DOM
6. 2026-06-10
   days on market $310,000 Active 80 DOM
7. 2026-06-09
   days on market $310,000 Active 79 DOM
8. 2026-06-08
   days on market $310,000 Active 78 DOM
9. 2026-06-07
   days on market $310,000 Active 77 DOM
10. 2026-06-05
    days on market $310,000 Active 74 DOM
11. 2026-06-03
    days on market $310,000 Active 73 DOM
12. 2026-06-02
    days on market $310,000 Active 72 DOM
13. 2026-06-01
    days on market $310,000 Active 71 DOM
14. 2026-05-31
    days on market $310,000 Active 70 DOM
15. 2026-03-19
    listed $310,000 Active 784-char remark

    Show marketing remark (784 chars)

    Here's an exceptional opportunity to live in the heart of Mid-City, where convenience meets culture. This double is just minutes from the Canal Streetcar line, universities, medical facilities, Bayou St John, Whole Foods, City Park, Lafitte Greenway, the CBD, local dining, bars, coffee shops and other businesses. This property is truly in a great location and presents an awesome choice to anyone desiring to be an owner-occupant or investor seeking strong rental appeal in one of the city's most vibrant neighborhoods. Whether you are expanding your portfolio or seeking a live-in investment, this property checks all the boxes. Each unit features an identical layout with hard surface flooring and ceiling fans throughout. Both units were updated during the past one to two years.

ⓘ 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 7/10 Severe FEMA zone X · 60% 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 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,504
• − Mortgage interest: −$17,365
• − Property taxes: −$4,650
• − Insurance: −$2,348
• − Repairs & maintenance: −$2,920
• − Management: −$2,920
• − Depreciation: −$9,018
• Taxable loss: −$2,717
• Est. tax savings @ 24.0%: +$652
• After-tax cash flow: $2,985/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

Fair 45/100 Moderate rehab

This property requires moderate renovations to improve its condition and increase its value. The exterior and interior need significant updates, including painting, updating fixtures, and landscaping. These improvements will enhance both the resale and rental value of the property.

Repairs flagged

• Major siding — Significant wear and tear
• Major steps and railings — Worn and unsafe
• Major landscaping — Overgrown and unkempt
• Major exterior paint — Worn and peeling
• Major interior paint — Worn and uneven
• Major kitchen cabinets — Worn and outdated
• Major bathroom fixtures — Worn and outdated
• Major appliances — Worn and outdated
• Major furniture — Worn and outdated

Value-add opportunities

• Both Painting and updating exterior — Enhances curb appeal and value
• Both Updating kitchen and bathroom fixtures — Improves functionality and aesthetics
• Both Reconditioning appliances — Enhances functionality and aesthetics
• Both Landscaping and yard maintenance — Enhances curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Significant wear and tear	Major	$15,000–50,000
steps and railings · Worn and unsafe	Major	$15,000–50,000
landscaping · Overgrown and unkempt	Major	$15,000–50,000
exterior paint · Worn and peeling	Major	$15,000–50,000
interior paint · Worn and uneven	Major	$15,000–50,000
kitchen cabinets · Worn and outdated	Major	$15,000–50,000
bathroom fixtures · Worn and outdated	Major	$15,000–50,000
appliances · Worn and outdated	Major	$15,000–50,000
furniture · Worn and outdated	Major	$15,000–50,000
Total estimated repair cost · 9 items		$135,000–450,000

Value-add ROI direction

• Both Painting and updating exterior — Enhances curb appeal and value ↑
• Both Updating kitchen and bathroom fixtures — Improves functionality and aesthetics ↑
• Both Reconditioning appliances — Enhances functionality and aesthetics ↑
• Both Landscaping and yard maintenance — Enhances curb appeal and value ↑

ⓘ 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

1 event — show timeline

• 2026-03-19 Listed $310,000 AcadianaMLS