2225-27 Rev John Raphael Jr Way · New Orleans, LA 70113

$475,000

4 bd · 2.0 ba · 1,368 sqft · MultiFamily public records · 33 Days on market

Built 2019 3,863 sqft lot

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Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• Cash flow +7.5/30.0
• ARV discount +7.5/15.0
• Rent growth +4.0/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• DSCR +1.7/10.0
• 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

Located in the heart of the vibrant Central City area, this masterfully designed duplex, built in 2019, offers a rare combination of modern luxury and New Orleans charm. Each of the expansive units features a thoughtful layout with three spacious bedrooms, three full bathrooms, and an additional half bath, providing ample privacy and comfort for residents or guests alike. The interiors boast contemporary finishes, walk-in closets, and fully equipped kitchens with stainless steel appliances, while the exterior highlights include a classic front porch and a private backyard perfect for outdoor entertaining. Situated just minutes from the St. Charles Avenue streetcar line, the Garden District, and the bustling corridors of the CBD, this property represents an exceptional opportunity for an owner-occupant or an investor looking for a high-performing asset in a central location. Total rents are currently $4400/mo (with room to increase), tenants pay all utilities and each unit it separately metered.

Key facts

• Walk-in closets
• Thoughtful layout
• Classic front porch

Tags

• MASTERFULLY DESIGNED DUPLEX
• THOUGHTFUL LAYOUT
• WALK-IN CLOSETS
• FULLY EQUIPPED KITCHENS
• STAINLESS STEEL APPLIANCES
• CLASSIC FRONT PORCH

Property features AI

Finance

• Financial info: Two total units (income property)

Exterior

• Utilities: Public water; Public sewer; Tenant pays electricity, gas, and water
• Home design: Two-story building; Raised foundation; Excellent condition
• Construction: Hardboard exterior; Shingle roof; Built with raised foundation
• Exterior features: Fenced yard; Front porch

Interior

• Kitchen: Standard kitchen features (specific appliances not listed)
• Bedrooms: Total of multiple bedrooms across units (see individual unit listing for room-level details)
• Bathrooms: Six full bathrooms; Two half bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Two-unit property (duplex); In-unit laundry; Windows upgraded for energy efficiency
• Laundry & utility: Washer and/or dryer in unit

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/3.0-bath units multifamily listed at $475k.

Deal economics

• At list price, monthly cash flow is $-650 ($-8k/yr) — negative. Per door: $-325/mo.
• To cash-flow at today's rent, offer at most $360k (24.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $327k (31.2% below list).
• Recommended offer: $327k (31.2% below list) — sets the bar for 1% rule.

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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $3,270/mo this rent would consume 100% 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 $51k of equity ($3k loan paydown + $48k appreciation (10.0% local appreciation)).
• Orleans County population projected at +61% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$82k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($461k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 9y ago; this cycle's ask has dropped $25k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $76k; list at $475k implies a 521% gain — meaningful room to come down on a strong offer.

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→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $327,000 (31.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.69% ✗
• Cap rate: 4.82%
• Cash-on-cash: -5.27%
• DSCR: 0.77
• GRM: 12.1

CMA / ARV

• ARV (on-the-fly): $147,744
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2620-22 Philip St	0.15mi	4/2.0	1,472 (+8%)	8mo	$159,000	$108	73
2114 16 Josephine St	0.21mi	4/2.0	1,407 (+3%)	16mo	$299,000	$213	72
2223 25 Felicity St	0.21mi	4/2.0	1,465 (+7%)	10mo	$155,000	$106	70
2809 11 Third St	0.31mi	4/2.0	1,404 (+3%)	23mo	$80,000	$57	62

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: 20.9%
• Equity multiple: 2.71×
• Total profit: $227,396
• Equity at exit: $427,918

10-year hold

• IRR: 19.6%
• Equity multiple: 6.45×
• Total profit: $725,359
• Equity at exit: $922,821

Cash invested: $133,000 (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: 24.2×

Monthly cashflow live

• Estimated rent: $3,270 high
• Mortgage (P&I): −$2,491
• Tax from tax record: −$478 /mo · $5,739/yr
• Insurance: −$198
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$687
• Net cashflow: $-650

Break-even live

Break-even rent $4,093

Max offer price $360,123

Occupancy floor —

Sensitivity live

Price	-10% $-381	-5% $-516	+0% $-650	+5% $-785	+10% $-919
Rent	-10% $-909	-5% $-779	+0% $-650	+5% $-521	+10% $-392
Rate	-1.0pp $-411	-0.5pp $-529	base $-650	+0.5pp $-773	+1.0pp $-899

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	3	$3,270
Total (2 units)			$3,270

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: $118,750
• Closing costs: $14,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2231 S Liberty St New Orleans, LA	3.0	3.5	1752	$2,000	$1.14	19d	1	0.04mi
2123 S Liberty St Unit 2125 New Orleans, LA	3.0	2.0	1500	$2,100	$1.40	5d	1	0.10mi
2225 2nd St New Orleans, LA	3.0	2.0	1100	$1,800	$1.64	25d	1	0.15mi
2119 Josephine St New Orleans, LA	3.0	1.0	1017	$950	$0.93	23d	1	0.22mi
2403 S Saratoga St New Orleans, LA	3.0	2.5	1600	$2,500	$1.56	25d	1	0.22mi
2102 Josephine St New Orleans, LA	4.0	2.0	1286	$2,100	$1.63	25d	1	0.22mi
1944 Jackson Ave New Orleans, LA	3.0	2.5	1572	$2,500	$1.59	45d	1	0.24mi
1614 Rev John Raphael Jr Way New Orleans, LA	3.0	2.0	1000	$1,500	$1.50	25d	1	0.24mi
2032 Saint Andrew St New Orleans, LA	3.0	2.0	1035	$1,830	$1.77	19d	1	0.28mi
1915 Philip St New Orleans, LA	3.0	1.5	1300	$2,450	$1.88	25d	1	0.29mi
2717 Loyola Ave New Orleans, LA	3.0	2.0	1250	$2,300	$1.84	3d	1	0.29mi
2717 Loyola Ave New Orleans, LA	3.0	2.0	1232	$2,300	$1.87	25d	1	0.29mi
2107 Fourth St New Orleans, LA	3.0	1.0	1292	$1,775	$1.37	19d	1	0.30mi
2526 Martin Luther King Junior Blvd New Orleans, LA	3.0	2.0	1200	$2,200	$1.83	5d	1	0.31mi
2318 Martin Luther King Junior Blvd New Orleans, LA	3.0	2.0	1400	$1,700	$1.21	25d	1	0.32mi
2722 Martin L King Bl New Orleans, LA	3.0	2.5	1350	$1,800	$1.33	25d	1	0.34mi
2733 Danneel St New Orleans, LA	4.0	2.0	1350	$1,775	$1.31	25d	1	0.39mi
1407 Magnolia St New Orleans, LA	3.0	2.0	1824	$1,500	$0.82	25d	1	0.39mi
2713 Baronne St New Orleans, LA	3.0	2.5	1600	$2,300	$1.44	25d	1	0.47mi
3108 Second St New Orleans, LA	3.0	3.0	1216	$2,100	$1.73	5d	1	0.50mi
2628 S Derbigny St New Orleans, LA	3.0	1.0	900	$1,500	$1.67	5d	1	0.50mi
3120 Second St New Orleans, LA	3.0	3.0	1256	$2,050	$1.63	25d	1	0.52mi
3122 2nd St New Orleans, LA	3.0	3.0	1206	$2,075	$1.72	25d	1	0.52mi
2341 S Roman St Unit U New Orleans, LA	3.0	2.0	1000	$1,850	$1.85	25d	1	0.54mi
2833 S Derbigny St New Orleans, LA	3.0	2.0	1500	$1,795	$1.20	25d	1	0.60mi
2931 Baronne St New Orleans, LA	3.0	1.0	1145	$1,510	$1.32	25d	1	0.60mi
3218 Jackson Ave New Orleans, LA	3.0	2.0	1267	$1,750	$1.38	25d	1	0.63mi
3435 Magnolia St New Orleans, LA	3.0	1.0	1050	$1,500	$1.43	25d	1	0.64mi
3429 Clara St New Orleans, LA	3.0	2.0	1620	$2,350	$1.45	16d	1	0.64mi
2539 Amelia St New Orleans, LA	3.0	2.0	1296	$2,200	$1.70	25d	1	0.66mi
3322 Third St New Orleans, LA	3.0	2.0	950	$1,450	$1.53	25d	1	0.66mi
2614 S Johnson St New Orleans, LA	3.0	2.0	1536	$2,079	$1.35	16d	1	0.67mi
3044 Louisiana Avenue Pkwy New Orleans, LA	3.0	2.0	1800	$1,900	$1.06	25d	1	0.69mi
2620 S Galvez St Apt 2B New Orleans, LA	3.0	1.0	1000	$1,100	$1.10	19d	1	0.72mi
2232 Amelia St New Orleans, LA	3.0	2.0	900	$1,800	$2.00	19d	1	0.73mi
3208 Louisiana Avenue Pkwy New Orleans, LA	3.0	2.0	1391	$1,900	$1.37	19d	1	0.74mi
1525 Melpomene St Unit Na New Orleans, LA	3.0	1.5	1700	$4,000	$2.35	45d	1	0.75mi
3230 Toledano St New Orleans, LA	3.0	2.0	950	$1,750	$1.84	25d	1	0.75mi
2535 Marengo St New Orleans, LA	3.0	1.0	1300	$1,200	$0.92	16d	1	0.78mi
3429 Baronne St New Orleans, LA	3.0	2.5	1600	$2,500	$1.56	45d	1	0.78mi

Listing history 32 events

1. 2026-06-21
   days on market $475,000 Active 33 DOM
2. 2026-06-18
   days on market $475,000 Active 30 DOM
3. 2026-06-17
   days on market $475,000 Active 29 DOM
4. 2026-06-16
   days on market $475,000 Active 28 DOM
5. 2026-06-15
   days on market $475,000 Active 27 DOM
6. 2026-06-13
   days on market $475,000 Active 25 DOM
7. 2026-06-10
   pricedays on market $475,000 Active 22 DOM
8. 2026-06-09
   days on market $500,000 Active 21 DOM
9. 2026-06-08
   days on market $500,000 Active 20 DOM
10. 2026-06-07
    days on market $500,000 Active 19 DOM
11. 2026-06-05
    days on market $500,000 Active 16 DOM
12. 2026-06-03
    days on market $500,000 Active 15 DOM
13. 2026-06-02
    days on market $500,000 Active 14 DOM
14. 2026-06-01
    days on market $500,000 Active 13 DOM
15. 2026-05-31
    days on market $500,000 Active 12 DOM
16. 2026-05-19
    listed $500,000 Active 1009-char remark

    Show marketing remark (1009 chars)

    Located in the heart of the vibrant Central City area, this masterfully designed duplex, built in 2019, offers a rare combination of modern luxury and New Orleans charm. Each of the expansive units features a thoughtful layout with three spacious bedrooms, three full bathrooms, and an additional half bath, providing ample privacy and comfort for residents or guests alike. The interiors boast contemporary finishes, walk-in closets, and fully equipped kitchens with stainless steel appliances, while the exterior highlights include a classic front porch and a private backyard perfect for outdoor entertaining. Situated just minutes from the St. Charles Avenue streetcar line, the Garden District, and the bustling corridors of the CBD, this property represents an exceptional opportunity for an owner-occupant or an investor looking for a high-performing asset in a central location. Total rents are currently $4400/mo (with room to increase), tenants pay all utilities and each unit it separately metered.

17. 2026-05-19
    listed $500,000 Active

    Show marketing remark (1009 chars)

    Located in the heart of the vibrant Central City area, this masterfully designed duplex, built in 2019, offers a rare combination of modern luxury and New Orleans charm. Each of the expansive units features a thoughtful layout with three spacious bedrooms, three full bathrooms, and an additional half bath, providing ample privacy and comfort for residents or guests alike. The interiors boast contemporary finishes, walk-in closets, and fully equipped kitchens with stainless steel appliances, while the exterior highlights include a classic front porch and a private backyard perfect for outdoor entertaining. Situated just minutes from the St. Charles Avenue streetcar line, the Garden District, and the bustling corridors of the CBD, this property represents an exceptional opportunity for an owner-occupant or an investor looking for a high-performing asset in a central location. Total rents are currently $4400/mo (with room to increase), tenants pay all utilities and each unit it separately metered.

18. 2026-03-13
    historical $1,800
19. 2026-02-21
    price $1,800
20. 2026-01-09
    listed $1,900
21. 2026-01-09
    historical $1,900
22. 2026-01-08
    listed $1,900
23. 2021-11-03
    soldstatus $76,500
24. 2019-03-08
    price $599,000
25. 2018-12-29
    price $699,000
26. 2018-12-27
    listed $599,000
27. 2018-02-13
    historical
28. 2017-04-24
    listed $149,000 Active
29. 2017-04-18
    listed $149,000
30. 2017-03-13
    soldstatus $65,000
31. 2017-01-30
    listed $60,000
32. 1978-06-19
    soldstatus $19,950

ⓘ 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: $5,739 · $478/mo
• Projected year-2 tax: $5,739 · $478/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 · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 20 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: $39,240
• − Mortgage interest: −$26,607
• − Property taxes: −$5,739
• − Insurance: −$3,172
• − Repairs & maintenance: −$3,139
• − Management: −$3,139
• − Depreciation: −$13,818
• Taxable loss: −$16,376
• Est. tax savings @ 24.0%: +$3,930
• After-tax cash flow: $-3,873/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): 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

+2406.3% since first listed

17 events — show timeline

• 2026-05-19 Listed $500,000 GSREIN
• 2026-05-19 Listed $500,000 AcadianaMLS
• 2026-03-13 Rental Removed $1,800 TENANTTURNER2
• 2026-02-21 Price Changed $1,800 TENANTTURNER2
• 2026-01-09 Listed for Rent $1,900 TENANTTURNER2
• 2026-01-09 Rental Removed $1,900 APPFOLIO
• 2026-01-08 Listed for Rent $1,900 APPFOLIO
• 2021-11-03 Sold (Public Records) $76,500 Public Records
• 2019-03-08 Price Changed $599,000 GSREIN
• 2018-12-29 Price Changed $699,000 GSREIN
• 2018-12-27 Listed $599,000 AcadianaMLS
• 2018-02-13 Listing Removed — GSREIN
• 2017-04-24 Listed $149,000 GSREIN
• 2017-04-18 Listed $149,000 AcadianaMLS
• 2017-03-13 Sold (Public Records) $65,000 Public Records
• 2017-01-30 Listed $60,000 AcadianaMLS
• 1978-06-19 Sold (Public Records) $19,950 Public Records

Property tax history

+45.4%/yr

Latest (2026): $5,739 · +1.1% YoY. Source: county tax records.