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

$350,000

6 bd · 4.0 ba · 2,200 sqft · MultiFamily · 100 Days on market

Built 2025 Excellent condition $159/sqft · 63% above area ↓ 5% since listing

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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 +19.4/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• 1% rule +5.1/10.0
• Condition / age +4.8/5.0
• Rent growth +4.0/5.0
• Livability +4.0/5.0
• Schools +1.6/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

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

• Built 2025
• Listed 100 days

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/?-bath units multifamily listed at $350k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $323 ($4k/yr) — positive. Per door: $162/mo.
• 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.
• 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 rising fast (+6.0%/yr); 134 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 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 100 days — a 9% lower offer ($318k) is reasonable based on typical stale-listing flexibility.

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 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 7.63%
• Cash-on-cash: 4.77%
• DSCR: 1.21
• GRM: 8.2

CMA / ARV

• ARV (median comp): $214,932
• List price: $350,000
• Delta: 62.84%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2419 S Saratoga St	0.51mi	6/3.0	2,280 (+4%)	0mo	$400,000	$175	66
2121 St Andrew St	0.32mi	6/4.0	2,430 (+10%)	3mo	$414,000	$170	65
2013 15 St Andrew St	0.36mi	6/2.0	2,084 (-5%)	6mo	$252,000	$121	62
2005 07 First St	0.37mi	6/4.5	2,366 (+8%)	15mo	$440,000	$186	56
2712 Josephine St	0.16mi	6/4.0	2,494 (+13%)	19mo	$353,000	$142	55
2023 A B First St	0.56mi	6/4.5	2,445 (+11%)	1mo	$485,000	$198	53
1917 19 Josephine St	0.45mi	6/6.0	2,369 (+8%)	7mo	$375,000	$158	52
2404 Simon Bolivar Ave	0.39mi	5/4.0 (-1)	2,296 (+4%)	24mo	$195,000	$85	50
2113 15 Fourth St	0.59mi	5/3.0 (-1)	2,379 (+8%)	0mo	$315,000	$132	50
2821-2823 First St	0.31mi	6/4.0	2,462 (+12%)	20mo	$363,000	$147	49

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: 28.3%
• Equity multiple: 3.27×
• Total profit: $222,249
• Equity at exit: $315,308

10-year hold

• IRR: 25.6%
• Equity multiple: 7.77×
• Total profit: $663,519
• 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: 134
• Price-to-rent: 16.5×

Monthly cashflow live

• Estimated rent: $3,545 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$429 /mo · $5,154/yr
• Insurance: −$146
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$744
• Net cashflow: $323

Break-even live

Break-even rent $3,136

Max offer price $350,000

Occupancy floor 86%

Sensitivity live

Price	-10% $521	-5% $422	+0% $323	+5% $224	+10% $125
Rent	-10% $43	-5% $183	+0% $323	+5% $463	+10% $603
Rate	-1.0pp $500	-0.5pp $412	base $323	+0.5pp $233	+1.0pp $140

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	—	$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 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
822 Howard Ave Unit 1272354P New Orleans, LA	1.0–5.0	1.0–4.0	1749	$11,882	$6.79	3d	3	0.64mi
822 Perdido St Unit 1272370P New Orleans, LA	1.0–5.0	1.0–5.0	1447	$7,361	$5.09	5d	4	0.90mi
1050 Annunciation St Unit 1272355P New Orleans, LA	2.0–5.0	2.0–4.0	1544	$4,490	$2.91	5d	3	1.06mi
3112 Upperline St New Orleans, LA	5.0	3.5	2800	$3,650	$1.30	25d	1	1.34mi
2117 S Lopez St New Orleans, LA	5.0	2.0	1920	$2,000	$1.04	25d	1	1.40mi

Listing history 18 events

1. 2026-06-21
   days on market $350,000 Active 100 DOM
2. 2026-06-18
   days on market $350,000 Active 97 DOM
3. 2026-06-17
   days on market $350,000 Active 96 DOM
4. 2026-06-16
   days on market $350,000 Active 95 DOM
5. 2026-06-15
   days on market $350,000 Active 94 DOM
6. 2026-06-13
   days on market $350,000 Active 92 DOM
7. 2026-06-10
   days on market $350,000 Active 89 DOM
8. 2026-06-09
   days on market $350,000 Active 88 DOM
9. 2026-06-08
   days on market $350,000 Active 87 DOM
10. 2026-06-07
    days on market $350,000 Active 86 DOM
11. 2026-06-05
    pricedays on market $350,000 Active 83 DOM
12. 2026-06-03
    days on market $365,000 Active 82 DOM
13. 2026-06-02
    days on market $365,000 Active 81 DOM
14. 2026-06-01
    days on market $365,000 Active 80 DOM
15. 2026-05-31
    days on market $365,000 Active 79 DOM
16. 2026-04-24
    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. 2026-03-06
    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.

ⓘ 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: $5,154 · $429/mo
• Projected year-2 tax: $5,154 · $429/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 · 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: −$5,154
• − Insurance: −$2,548
• − Repairs & maintenance: −$3,403
• − Management: −$3,403
• − Depreciation: −$10,182
• Taxable loss: −$1,755
• Est. tax savings @ 24.0%: +$421
• After-tax cash flow: $4,301/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

Excellent 95/100 None rehab

This multi-family property is in excellent condition with no visible repairs needed. It is move-in ready and has the potential to be further enhanced with a fresh coat of paint and landscaping updates to increase its resale and rental value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics, making the property more attractive to potential buyers and renters.
• Both Updating the landscaping — A well-maintained and aesthetically pleasing landscape can improve the property's curb appeal and attract more potential buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics, making the property more attractive to potential buyers and renters. ↑
• Both Updating the landscaping — A well-maintained and aesthetically pleasing landscape can improve the property's curb appeal and attract more potential buyers and renters. ↑

ⓘ 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

-5.2% since first listed

3 events — show timeline

• 2026-04-24 Price Changed $365,000 GSREIN
• 2026-04-16 Price Changed $380,000 GSREIN
• 2026-03-06 Listed $385,000 GSREIN

Property tax history

+163.5%/yr

Latest (2026): $5,154 · +2485.9% YoY. Source: county tax records.