1925 Fern St · New Orleans, LA 70118

$189,000

2 bd · 2.0 ba · 1,150 sqft · MultiFamily public records · 104 Days on market

Built 1973 3,598 sqft lot $164/sqft · 34% below area Est $279k · 32% under

---

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 +17.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• 1% rule +4.8/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +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: 1 unit. estimate disagrees with records

Listing remarks MLS

Great investment/renovation opportunity in an unbeatable location in Carrollton neighborhood. This is the perfect opportunity to renovate this home to its original glory and start collecting rental income. Property may be eligible for tax credits.

Key facts

• 3,598 sq ft lot
• Built 1973
• Listed 104 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $189k.

Deal economics

• At list price, monthly cash flow is $63 ($761/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 $185k (1.9% below list).
• Recommended offer: $172k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.1% 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 flat; 279 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• This rent runs 35% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 104 days — a 9% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 15y 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 $106k; list at $189k implies a 78% gain — meaningful room to come down on a strong offer.

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 $171,990 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 7.12%
• Cash-on-cash: 2.94%
• DSCR: 1.13
• GRM: 8.5

CMA / ARV

• ARV (median comp): $279,308
• List price: $189,000
• Delta: -32.33%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2027 29 Cambronne St	0.36mi	2/2.0	1,176 (+2%)	9mo	$299,730	$255	72
8701 03 Green St	0.59mi	2/2.0	1,141 (-1%)	13mo	$70,000	$61	60
8705 07 Green St	0.60mi	2/2.0	1,141 (-1%)	13mo	$70,000	$61	60
6215 York St	0.65mi	2/2.0	1,083 (-6%)	5mo	$236,000	$218	55
8611 Birch St	0.57mi	2/2.0	1,015 (-12%)	15mo	$167,000	$165	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 · 0.97% rent growth · sell at horizon

5-year hold

• IRR: -16.4%
• Equity multiple: 0.43×
• Total profit: $-30,213
• Equity at exit: $28,181

10-year hold

• IRR: -12.5%
• Equity multiple: 0.33×
• Total profit: $-35,380
• Equity at exit: $16,341

Cash invested: $52,920 (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 70118

• Rents YoY: 1.0%
• Active inventory: 279
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,854 high
• Mortgage (P&I): −$991
• Tax from tax record: −$265 /mo · $3,177/yr
• Insurance: −$79
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $63

Break-even live

Break-even rent $1,774

Max offer price $189,000

Occupancy floor 92%

Sensitivity live

Price	-10% $170	-5% $117	+0% $63	+5% $10	+10% $-44
Rent	-10% $-83	-5% $-10	+0% $63	+5% $137	+10% $210
Rate	-1.0pp $159	-0.5pp $111	base $63	+0.5pp $14	+1.0pp $-35

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7810 Spruce St New Orleans, LA	2.0	1.0	1065	$2,300	$2.16	24d	1	0.02mi
1928 Burdette St New Orleans, LA	1.0	1.0	720	$1,250	$1.74	3d	1	0.03mi
7927 Spruce St Unit A New Orleans, LA	1.0	1.0	800	$1,595	$1.99	12d	1	0.08mi
2103 Fern St New Orleans, LA	2.0	1.0	920	$1,750	$1.90	4d	1	0.11mi
7616 Cohn St Unit A New Orleans, LA	3.0	2.5	1492	$3,300	$2.21	18d	1	0.14mi
1803 Adams St New Orleans, LA	2.0	1.0	1000	$1,895	$1.90	24d	1	0.15mi
7426 Panola St New Orleans, LA	1.0	1.0	700	$1,375	$1.96	15d	1	0.16mi
1705 Burdette St New Orleans, LA	2.0	2.0	1200	$1,600	$1.33	15d	1	0.16mi
7728 Sycamore St Unit B New Orleans, LA	2.0	2.0	900	$1,750	$1.94	18d	1	0.17mi
7408 Panola St New Orleans, LA	2.0	1.0	900	$1,500	$1.67	24d	1	0.18mi
1816 Lowerline St Unit 1816 New Orleans, LA	2.0	1.0	1080	$1,650	$1.53	24d	1	0.19mi
7317 Cohn St New Orleans, LA	2.0	1.0	875	$1,700	$1.94	12d	1	0.21mi
7317 Cohn St New Orleans, LA	2.0	1.0	950	$1,800	$1.89	3d	1	0.21mi
7817 Birch St New Orleans, LA	2.0	1.0	1300	$1,500	$1.15	4d	1	0.22mi
7815 Birch St New Orleans, LA	2.0	1.0	1200	$1,500	$1.25	4d	1	0.22mi
7305 Spruce St New Orleans, LA	2.0	1.0	981	$1,000	$1.02	24d	1	0.22mi
7310 Hickory St New Orleans, LA	3.0	1.0	750	$2,600	$3.47	15d	1	0.26mi
1827 Pine St New Orleans, LA	2.0	1.0	1436	$2,400	$1.67	24d	1	0.27mi
1801 Pine St New Orleans, LA	2.0	1.0	1340	$2,800	$2.09	4d	1	0.28mi
1625 Lowerline St New Orleans, LA	2.0	1.0	1200	$1,850	$1.54	24d	1	0.30mi
1929 Broadway St Unit B New Orleans, LA	2.0	1.0	1000	$1,500	$1.50	18d	1	0.31mi
8227 Green St Unit B New Orleans, LA	2.0	1.0	800	$1,200	$1.50	24d	1	0.33mi
2022 Dante St New Orleans, LA	2.0	1.0	989	$1,300	$1.31	4d	1	0.34mi
2203 Broadway St New Orleans, LA	3.0	2.0	1491	$3,000	$2.01	22d	1	0.34mi
7509 Jeannette St New Orleans, LA	2.0	2.0	950	$2,000	$2.11	17d	1	0.35mi
8231 Birch St Unit A New Orleans, LA	2.0	1.0	800	$1,645	$2.06	24d	1	0.37mi
1338 Burdette St New Orleans, LA	2.0	1.0	1050	$1,200	$1.14	2d	1	0.39mi
7718 Willow St New Orleans, LA	3.0	1.0	1206	$2,460	$2.04	18d	1	0.39mi
1530 Broadway St New Orleans, LA	3.0	2.0	1475	$3,900	$2.64	11d	2	0.39mi
7541 Willow St New Orleans, LA	2.0	1.0	700	$1,650	$2.36	15d	1	0.40mi
1701 Cambronne St New Orleans, LA	2.0	1.0	900	$1,800	$2.00	24d	1	0.40mi
7537 Willow St New Orleans, LA	2.0	1.0	800	$1,400	$1.75	18d	1	0.40mi
1517 Dante St New Orleans, LA	3.0	1.0	1500	$1,700	$1.13	18d	1	0.40mi
1822 Cambronne St New Orleans, LA	2.0	1.5	900	$1,600	$1.78	15d	1	0.41mi
1820 Cambronne St New Orleans, LA	2.0	1.5	900	$1,600	$1.78	15d	1	0.41mi
8421 Cohn St New Orleans, LA	2.0	2.0	887	$1,750	$1.97	24d	1	0.41mi
8423 Cohn St New Orleans, LA	2.0	2.0	887	$1,700	$1.92	24d	1	0.41mi
7606 Willow St New Orleans, LA	2.0	2.0	1000	$1,600	$1.60	24d	1	0.41mi
1526 Dante St New Orleans, LA	3.0	3.0	1446	$3,000	$2.07	18d	1	0.42mi
1431 Pine St New Orleans, LA	3.0	1.0	1270	$3,000	$2.36	4d	1	0.43mi

Listing history 48 events

1. 2026-06-18
   days on market $189,000 Active 104 DOM
2. 2026-06-17
   days on market $189,000 Active 103 DOM
3. 2026-06-16
   days on market $189,000 Active 102 DOM
4. 2026-06-15
   days on market $189,000 Active 101 DOM
5. 2026-06-13
   days on market $189,000 Active 99 DOM
6. 2026-06-10
   days on market $189,000 Active 96 DOM
7. 2026-06-09
   days on market $189,000 Active 95 DOM
8. 2026-06-08
   days on market $189,000 Active 94 DOM
9. 2026-06-07
   days on market $189,000 Active 93 DOM
10. 2026-06-05
    days on market $189,000 Active 90 DOM
11. 2026-06-03
    days on market $189,000 Active 89 DOM
12. 2026-06-02
    days on market $189,000 Active 88 DOM
13. 2026-06-01
    days on market $189,000 Active 87 DOM
14. 2026-05-31
    days on market $189,000 Active 86 DOM
15. 2026-03-06
    listed $189,000 Active 247-char remark

    Show marketing remark (247 chars)

    Great investment/renovation opportunity in an unbeatable location in Carrollton neighborhood. This is the perfect opportunity to renovate this home to its original glory and start collecting rental income. Property may be eligible for tax credits.

16. 2026-03-06
    listed $189,000 Active 247-char remark

    Show marketing remark (247 chars)

    Great investment/renovation opportunity in an unbeatable location in Carrollton neighborhood. This is the perfect opportunity to renovate this home to its original glory and start collecting rental income. Property may be eligible for tax credits.

17. 2025-06-06
    price $200,000
18. 2025-06-06
    price $200,000
19. 2025-03-21
    price $205,000
20. 2025-03-21
    price $205,000
21. 2025-01-26
    listed $209,500 Active
22. 2024-08-02
    price $223,900
23. 2024-06-11
    listed $223,900 Active
24. 2024-03-05
    listed $229,750
25. 2024-03-04
    listed $229,750
26. 2024-01-09
    price $229,950
27. 2023-12-11
    price $234,750
28. 2023-12-04
    price $235,375
29. 2023-11-30
    price $235,450
30. 2023-11-09
    price $236,100
31. 2023-10-26
    price $236,250
32. 2023-10-16
    price $236,975
33. 2023-10-09
    price $237,945
34. 2023-09-27
    price $238,945
35. 2023-09-18
    price $238,950
36. 2023-09-15
    price $239,870
37. 2023-09-11
    price $239,875
38. 2023-09-05
    price $239,950
39. 2023-08-29
    price $239,970
40. 2023-08-28
    price $239,975
41. 2023-08-21
    price $243,750
42. 2023-08-09
    listed $229,950
43. 2023-01-18
    listed $175,000
44. 2011-12-21
    soldstatus $106,000
45. 2011-12-20
    soldstatus $106,000
46. 2011-06-09
    listed $115,000
47. 2011-06-09
    listed $115,000
48. 1968-01-23
    soldstatus $11,000

ⓘ 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: $3,177 · $265/mo
• Projected year-2 tax: $3,177 · $265/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 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: $22,245
• − Mortgage interest: −$10,587
• − Property taxes: −$3,177
• − Insurance: −$1,742
• − Repairs & maintenance: −$1,780
• − Management: −$1,780
• − Depreciation: −$5,498
• Taxable loss: −$2,318
• Est. tax savings @ 24.0%: +$556
• After-tax cash flow: $1,317/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): 36,072
• Household income: $63,750
• Rent vs Own: 51.5% rent · 48.5% own
• Severe rent burden: 2237.0

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 0.65)
• Race & ethnicity: White 47% Black 34% Hispanic / Latino 11% Two or more races 11% Asian 4%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 8% Italian 2% Romanian 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 86% English-only · Spanish 7% French/Haitian/Cajun 2% Other Indo-European 2%

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: ▼ -210.46%
• Current HPI: 282.9629
• Rent YoY: ▲ 0.97%
• 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

+1618.2% since first listed

34 events — show timeline

• 2026-03-06 Listed $189,000 GSREIN
• 2026-03-06 Listed $189,000 AcadianaMLS
• 2025-06-06 Price Changed $200,000 AcadianaMLS
• 2025-06-06 Price Changed $200,000 GSREIN
• 2025-03-21 Price Changed $205,000 AcadianaMLS
• 2025-03-21 Price Changed $205,000 GSREIN
• 2025-01-26 Listed $209,500 AcadianaMLS
• 2024-08-02 Price Changed $223,900 GSREIN
• 2024-06-11 Listed $223,900 AcadianaMLS
• 2024-03-05 Listed $229,750 AcadianaMLS
• 2024-03-04 Listed $229,750 AcadianaMLS
• 2024-01-09 Price Changed $229,950 GSREIN
• 2023-12-11 Price Changed $234,750 GSREIN
• 2023-12-04 Price Changed $235,375 GSREIN
• 2023-11-30 Price Changed $235,450 GSREIN
• 2023-11-09 Price Changed $236,100 GSREIN
• 2023-10-26 Price Changed $236,250 GSREIN
• 2023-10-16 Price Changed $236,975 GSREIN
• 2023-10-09 Price Changed $237,945 GSREIN
• 2023-09-27 Price Changed $238,945 GSREIN
• 2023-09-18 Price Changed $238,950 GSREIN
• 2023-09-15 Price Changed $239,870 GSREIN
• 2023-09-11 Price Changed $239,875 GSREIN
• 2023-09-05 Price Changed $239,950 GSREIN
• 2023-08-29 Price Changed $239,970 GSREIN
• 2023-08-28 Price Changed $239,975 GSREIN
• 2023-08-21 Price Changed $243,750 GSREIN
• 2023-08-09 Listed $229,950 AcadianaMLS
• 2023-01-18 Listed $175,000 AcadianaMLS
• 2011-12-21 Sold (Public Records) $106,000 Public Records
• 2011-12-20 Sold (MLS) $106,000 GSREIN
• 2011-06-09 Listed $115,000 GSREIN
• 2011-06-09 Listed $115,000 AcadianaMLS
• 1968-01-23 Sold (Public Records) $11,000 Public Records

Property tax history

+5.6%/yr

Latest (2026): $3,177 · +1.1% YoY. Source: county tax records.