2924 Republic St · New Orleans, LA 70119

$299,000

6 bd · 3.0 ba · 1,992 sqft · MultiFamily public records · 181 Days on market

Built 1941 4,599 sqft lot $150/sqft · 15% above area Est $261k · 15% over

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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 +25.4/30.0
• DSCR +8.4/10.0
• 1% rule +6.5/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• ARV discount +0.9/15.0
• 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 opportunity for buyers that have financing in place or if you are looking to avoid Standard financing. Bond for deed terms are as follows: Only 15% down payment. Financing terms include a 6% interest rate for Years 1-3, followed by a 7% interest rate for Years 4-5. Take advantage of unique seller financing options for this income generating New Orleans double each side of this well-maintained property features three bedrooms and one and a half bath with separate meters for convenience. Currently the property is rented for a total of $3271 per month providing immediate cash flow. This charming New Orleans double features a four years old roof providing peace of mind for the next owner . Located just five minutes from the renowned New Orleans Fairgrounds home to the famous jazz fest Gentilly gate. This property offers the blend of urban living and cultural fiber. You'll also be minutes away from city Park and a quick 15 minute drive will bring you to the heart of the French Quarter a great investment opportunity in a prime location with strong rental income. Whether you are an investor or a buyer looking for income producing property this one is for you. Don't miss out on this opportunity. Measurements are approximate and should be verified by purchaser and/or buyers agent. Seller requires all buyers to view property prior to submitting an offer!

Key facts

• Four years old roof
• Income generating
• Prime location

Tags

• SELLER FINANCING OPTIONS
• INCOME GENERATING
• WELL MAINTAINED PROPERTY
• SEPARATE METERS
• FOUR YEARS OLD ROOF
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $299k.

Deal economics

• At list price, monthly cash flow is $625 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $299k).
• Recommended offer: $263k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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 soft (-0.2%/yr); 381 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,425/mo this rent would consume 77% 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 181 days — a 12% lower offer ($263k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 18y 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 $146k; list at $299k implies a 104% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• 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 $263,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 181 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1941 — 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: 1.15% ✓
• Cap rate: 9.07%
• Cash-on-cash: 9.91%
• DSCR: 1.44
• GRM: 7.3

CMA / ARV

• ARV (median comp): $260,902
• List price: $299,000
• Delta: 14.60%
• 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
1707 05 Rousselin Dr	0.50mi	6/2.0	1,950 (-2%)	0mo	$300,000	$154	69
1946 Hope St	0.33mi	6/4.0	2,132 (+7%)	4mo	$289,000	$136	66
2918 New Orleans St	0.22mi	5/2.5 (-1)	2,137 (+7%)	15mo	$210,000	$98	58
3033 35 Pauger St	0.71mi	6/4.0	2,057 (+3%)	1mo	$295,000	$143	57
1860 62 Rosiere St	0.31mi	6/2.0	1,875 (-6%)	18mo	$317,275	$169	56
3340 Saint Anthony Ave	0.52mi	5/3.0 (-1)	2,196 (+10%)	1mo	$120,000	$55	53
1571-1573 N Dorgenois St	0.68mi	6/2.0	2,000 (+0%)	20mo	$295,000	$148	47
2329-2331 Saint Anthony St	0.66mi	6/2.0	2,156 (+8%)	8mo	$130,000	$60	45
2612 14 Annette St	0.47mi	6/4.0	2,250 (+13%)	21mo	$215,000	$96	35
3120 22 Frenchmen St	0.65mi	6/2.0	1,776 (-11%)	16mo	$274,000	$154	34
3720 Bruxelles St	0.55mi	5/2.5 (-1)	2,189 (+10%)	22mo	$325,000	$148	33
2622 Frenchmen St	0.70mi	6/2.0	1,750 (-12%)	16mo	$122,150	$70	30

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: -6.2%
• Equity multiple: 0.78×
• Total profit: $-18,605
• Equity at exit: $44,582

10-year hold

• IRR: -0.7%
• Equity multiple: 0.96×
• Total profit: $-3,468
• Equity at exit: $25,852

Cash invested: $83,720 (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 70119

• Home prices YoY: -34.8%
• Rents YoY: -0.2%
• Active inventory: 381
• Price-to-rent: 14.5×

Monthly cashflow live

• Estimated rent: $3,425 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$321 /mo · $3,858/yr
• Insurance: −$125
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$719
• Net cashflow: $625

Break-even live

Break-even rent $2,634

Max offer price $299,000

Occupancy floor 77%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$3,424
Total (2 units)			$3,425

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3228 Pauger St New Orleans, LA	5.0	2.0	1600	$2,100	$1.31	23d	1	0.65mi

Listing history 14 events

1. 2026-06-05
   days on market $299,000 Active 181 DOM
2. 2026-06-03
   days on market $299,000 Active 180 DOM
3. 2026-06-02
   days on market $299,000 Active 179 DOM
4. 2026-06-01
   days on market $299,000 Active 178 DOM
5. 2026-05-31
   days on market $299,000 Active 177 DOM
6. 2025-12-05
   listed $299,000 Active 1372-char remark

   Show marketing remark (1396 chars)

   Great opportunity for buyers that have financing in place or if you are looking to avoid Standard financing. Bond for deed terms are as follows: Only 15% down payment. Financing terms include a 6% interest rate for Years 1–3, followed by a 7% interest rate for Years 4–5. Take advantage of unique seller financing options for this income generating New Orleans double each side of this well-maintained property features three bedrooms and one and a half bath with separate meters for convenience. Currently the property is rented for a total of $3271 per month providing immediate cash flow. This charming New Orleans double features a four years old roof providing peace of mind for the next owner . Located just five minutes from the renowned New Orleans Fairgrounds home to the famous jazz fest Gentilly gate. This property offers the blend of urban living and cultural fiber. You’ll also be minutes away from city Park and a quick 15 minute drive will bring you to the heart of the French Quarter a great investment opportunity in a prime location with strong rental income. Whether you are an investor or a buyer looking for income producing property this one is for you. Don’t miss out on this opportunity. Measurements are approximate and should be verified by purchaser and/or buyers agent. Seller requires all buyers to view property prior to submitting an offer!

7. 2025-12-05
   listed $299,000 Active 1396-char remark

   Show marketing remark (1396 chars)

   Great opportunity for buyers that have financing in place or if you are looking to avoid Standard financing. Bond for deed terms are as follows: Only 15% down payment. Financing terms include a 6% interest rate for Years 1–3, followed by a 7% interest rate for Years 4–5. Take advantage of unique seller financing options for this income generating New Orleans double each side of this well-maintained property features three bedrooms and one and a half bath with separate meters for convenience. Currently the property is rented for a total of $3271 per month providing immediate cash flow. This charming New Orleans double features a four years old roof providing peace of mind for the next owner . Located just five minutes from the renowned New Orleans Fairgrounds home to the famous jazz fest Gentilly gate. This property offers the blend of urban living and cultural fiber. You’ll also be minutes away from city Park and a quick 15 minute drive will bring you to the heart of the French Quarter a great investment opportunity in a prime location with strong rental income. Whether you are an investor or a buyer looking for income producing property this one is for you. Don’t miss out on this opportunity. Measurements are approximate and should be verified by purchaser and/or buyers agent. Seller requires all buyers to view property prior to submitting an offer!

8. 2022-05-21
   price $1,325
9. 2022-04-05
   price $379,999
10. 2022-03-24
    price $369,999
11. 2021-12-31
    listed $379,999
12. 2015-10-02
    soldstatus $146,292
13. 2008-03-31
    listed $5,300,000
14. 2008-03-31
    listed $5,300,000

ⓘ 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: $3,858 · $321/mo
• Projected year-2 tax: $3,858 · $321/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) · 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: $41,100
• − Mortgage interest: −$16,749
• − Property taxes: −$3,858
• − Insurance: −$2,292
• − Repairs & maintenance: −$3,288
• − Management: −$3,288
• − Depreciation: −$8,698
• Taxable income: $2,927
• Est. tax owed @ 24.0%: −$702
• After-tax cash flow: $6,801/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): 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

-94.4% since first listed

9 events — show timeline

• 2025-12-05 Listed $299,000 GSREIN
• 2025-12-05 Listed $299,000 AcadianaMLS
• 2022-05-21 Price Changed $1,325 RENT.
• 2022-04-05 Price Changed $379,999 GSREIN
• 2022-03-24 Price Changed $369,999 GSREIN
• 2021-12-31 Listed $379,999 AcadianaMLS
• 2015-10-02 Sold (Public Records) $146,292 Public Records
• 2008-03-31 Listed $5,300,000 GSREIN
• 2008-03-31 Listed $5,300,000 AcadianaMLS

Property tax history

+7.0%/yr

Latest (2026): $3,858 · +1.1% YoY. Source: county tax records.