4121-23 Eagle St · New Orleans, LA 70118

$250,000

4 bd · 2.0 ba · 1,608 sqft · MultiFamily public records · 158 Days on market

Built 1984 5,018 sqft lot $155/sqft · at area comps Est $275k · 9% under

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Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +11.6/15.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• 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: 2 units. confirmed

Listing remarks MLS

Duplex in the Heart of 70118 - Great Layout & Income Potential Come see this well-kept duplex offering plenty of space and solid rental potential. Both units feature 3 bedrooms and 2 bathrooms, each with a comfortable and functional layout. Recent work includes a new driveway, bathroom updates, plumbing improvements, and other general repairs throughout the property--making it ready for new occupants.

Key facts

• New driveway
• Bathroom updates
• 5,018 sq ft lot

Tags

• NEW DRIVEWAY
• BATHROOM UPDATES
• PLUMBING IMPROVEMENTS
• SOLID RENTAL POTENTIAL

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $942 ($11k/yr) — positive. Per door: $471/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $220k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.1% 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 17d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,278/mo this rent would consume 62% of the median local household income ($64k/yr) (locally 2237% 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 $8k 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.
• At projected returns (-3.0% appreciation + 1.0% rent growth), your $70k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 158 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 14y ago; this cycle's ask has dropped $50k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $140k; list at $250k implies a 79% 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $220,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 158 days. Have you received any prior offers? Is the seller open to a 12% 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: 1.31% ✓
• Cap rate: 11.13%
• Cash-on-cash: 17.28%
• DSCR: 1.77
• GRM: 6.4

CMA / ARV

• ARV (median comp): $275,038
• List price: $250,000
• Delta: -9.10%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4528-30 Baudin St	0.24mi	4/2.0	1,716 (+7%)	2mo	$310,000	$181	76
4127 29 Hollygrove St	0.13mi	4/2.0	1,760 (+10%)	4mo	$131,500	$75	75
4101-03 Hamilton St	0.20mi	4/2.0	1,464 (-9%)	6mo	$209,000	$143	71
531-33 S Murat St	0.25mi	4/2.0	1,500 (-7%)	10mo	$335,000	$223	69
424-426 S Hennessey St	0.42mi	4/2.0	1,696 (+6%)	7mo	$345,000	$203	65
3935 37 Banks St	0.70mi	4/2.0	1,620 (+1%)	2mo	$295,000	$182	64
4228-30 Ulloa St	0.35mi	4/2.0	1,780 (+11%)	9mo	$225,000	$126	58
8517 19 Forshey St	0.57mi	4/2.0	1,512 (-6%)	8mo	$219,000	$145	57
505 S Alexander St	0.32mi	4/2.0	1,820 (+13%)	8mo	$339,000	$186	57
3316 18 Joliet St	0.57mi	4/2.0	1,512 (-6%)	8mo	$220,000	$146	57
8839-37 Colapissa St	0.69mi	4/2.0	1,568 (-2%)	10mo	$120,000	$77	55
3322 24 Joliet St	0.56mi	4/2.0	1,488 (-8%)	12mo	$229,000	$154	52

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: 4.9%
• Equity multiple: 1.18×
• Total profit: $12,903
• Equity at exit: $37,276

10-year hold

• IRR: 12.4%
• Equity multiple: 1.89×
• Total profit: $62,611
• Equity at exit: $21,615

Cash invested: $70,000 (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 70118

• Rents YoY: 1.0%
• Active inventory: 279
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $3,278 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$166 /mo · $1,996/yr
• Insurance: −$104
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$688
• Net cashflow: $942

Break-even live

Break-even rent $2,086

Max offer price $250,000

Occupancy floor 66%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,278
Total (2 units)			$3,278

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8815 Palm St New Orleans, LA	3.0	2.0	1195	$2,100	$1.76	23d	1	0.35mi
337 S Murat St Unit 4501 New Orleans, LA	3.0	2.0	1150	$2,000	$1.74	23d	1	0.37mi
8502 Edinburgh St New Orleans, LA	3.0	2.0	1456	$1,800	$1.24	3d	1	0.47mi
8816 Olive St Unit A-B New Orleans, LA	3.0	2.0	1200	$1,800	$1.50	16d	1	0.51mi
8816 Olive St New Orleans, LA	3.0	2.0	1200	$1,800	$1.50	23d	1	0.51mi
647 S Pierce St New Orleans, LA	3.0	2.0	1550	$3,175	$2.05	14d	1	0.60mi
9528 Stroelitz St New Orleans, LA	3.0	2.0	1174	$2,100	$1.79	11d	1	0.61mi
613 S Pierce St New Orleans, LA	3.0	1.0	1200	$1,500	$1.25	17d	1	0.61mi
4020 Baudin St New Orleans, LA	3.0	2.0	1100	$1,550	$1.41	3d	1	0.61mi
615 S Pierce St New Orleans, LA	3.0	1.0	1200	$1,500	$1.25	17d	1	0.61mi
4600 S Carrollton Ave Unit 2B New Orleans, LA	4.0	2.0	2097	$2,850	$1.36	23d	1	0.66mi
8929 Colapissa St New Orleans, LA	3.0	1.0	1300	$1,400	$1.08	23d	1	0.69mi
301 City Park Ave New Orleans, LA	4.0	2.0	1550	$2,000	$1.29	14d	1	0.74mi
9438 Forshey St New Orleans, LA	3.0	2.0	1274	$2,000	$1.57	23d	1	0.74mi
3825 Baudin St New Orleans, LA	3.0	3.5	1680	$2,000	$1.19	23d	1	0.74mi
9107 Fig St New Orleans, LA	3.0	3.0	1230	$2,000	$1.63	3d	1	0.78mi
3804 Banks St New Orleans, LA	3.0	2.0	1353	$2,250	$1.66	17d	1	0.80mi
109 Avenue E Metairie, LA	3.0	3.5	2068	$3,000	$1.45	44d	1	0.85mi
7922 Colapissa St New Orleans, LA	4.0	2.0	1848	$2,400	$1.30	10d	1	0.90mi
8405 Apricot St New Orleans, LA	3.0	2.0	1058	$1,795	$1.70	3d	1	0.91mi
8405 Apricot St New Orleans, LA	3.0	2.0	1058	$1,795	$1.70	3d	1	0.91mi
4702 Euphrosine St New Orleans, LA	3.0	1.0	1100	$1,850	$1.68	3d	1	1.01mi
334 S Clark St New Orleans, LA	3.0	1.0	1065	$1,750	$1.64	21d	1	1.01mi
439 S Norman C. Francis Pkwy Unit 1A New Orleans, LA	3.0	1.0	1200	$1,700	$1.42	21d	1	1.02mi
2616 Cambronne St Unit 2618 New Orleans, LA	3.0	1.0	1200	$1,475	$1.23	23d	1	1.02mi
4500 Saint Ann St New Orleans, LA	3.0	2.0	1500	$2,350	$1.57	17d	1	1.03mi
8812 Apple St New Orleans, LA	3.0	2.0	1085	$1,650	$1.52	16d	1	1.04mi
2527 Eagle St New Orleans, LA	3.0	2.0	1571	$2,200	$1.40	23d	1	1.05mi
305 S Norman C Francis Pkwy New Orleans, LA	3.0	1.5	1730	$2,600	$1.50	17d	1	1.05mi
305 S Norman C Francis Pkwy New Orleans, LA	3.0	1.5	1730	$2,500	$1.45	14d	1	1.05mi
5373 Canal Blvd New Orleans, LA	3.0	2.0	1800	$4,200	$2.33	43d	1	1.06mi
5373 Canal Blvd New Orleans, LA	3.0	2.0	1800	$6,800	$3.78	17d	1	1.06mi
7933 Belfast St Unit Upper New Orleans, LA	3.0	2.0	1500	$2,400	$1.60	23d	1	1.10mi
4227 Saint Ann St New Orleans, LA	3.0	2.0	1900	$2,800	$1.47	3d	1	1.10mi
4814 Thalia St Unit B New Orleans, LA	3.0	2.0	1218	$1,850	$1.52	23d	1	1.13mi
4816 Thalia St New Orleans, LA	3.0	2.0	1218	$1,850	$1.52	23d	1	1.13mi
5458 General Diaz St New Orleans, LA	3.0	2.0	1289	$2,000	$1.55	16d	1	1.13mi
4226 Dumaine St New Orleans, LA	3.0	2.0	1411	$2,250	$1.59	17d	1	1.15mi
325 S Rendon St New Orleans, LA	3.0	2.0	1130	$2,000	$1.77	23d	1	1.16mi
2835 Pine St Unit 2835 New Orleans, LA	3.0	2.0	1219	$2,995	$2.46	43d	1	1.16mi

Listing history 13 events

1. 2026-05-09
   status Pending 408-char remark

   Show marketing remark (421 chars)

   Duplex in the Heart of 70118 – Great Layout & Income Potential Come see this well-kept duplex offering plenty of space and solid rental potential. Both units feature 3 bedrooms and 2 bathrooms, each with a comfortable and functional layout. Recent work includes a new driveway, bathroom updates, plumbing improvements, and other general repairs throughout the property—making it ready for new occupants.

2. 2026-05-09
   status Pending 421-char remark

   Show marketing remark (421 chars)

   Duplex in the Heart of 70118 – Great Layout & Income Potential Come see this well-kept duplex offering plenty of space and solid rental potential. Both units feature 3 bedrooms and 2 bathrooms, each with a comfortable and functional layout. Recent work includes a new driveway, bathroom updates, plumbing improvements, and other general repairs throughout the property—making it ready for new occupants.

3. 2026-02-10
   price $250,000 408-char remark

   Show marketing remark (421 chars)

   Duplex in the Heart of 70118 – Great Layout & Income Potential Come see this well-kept duplex offering plenty of space and solid rental potential. Both units feature 3 bedrooms and 2 bathrooms, each with a comfortable and functional layout. Recent work includes a new driveway, bathroom updates, plumbing improvements, and other general repairs throughout the property—making it ready for new occupants.

4. 2026-02-10
   price $250,000 421-char remark

   Show marketing remark (421 chars)

   Duplex in the Heart of 70118 – Great Layout & Income Potential Come see this well-kept duplex offering plenty of space and solid rental potential. Both units feature 3 bedrooms and 2 bathrooms, each with a comfortable and functional layout. Recent work includes a new driveway, bathroom updates, plumbing improvements, and other general repairs throughout the property—making it ready for new occupants.

5. 2026-01-23
   price $290,000 408-char remark

   Show marketing remark (421 chars)

   Duplex in the Heart of 70118 – Great Layout & Income Potential Come see this well-kept duplex offering plenty of space and solid rental potential. Both units feature 3 bedrooms and 2 bathrooms, each with a comfortable and functional layout. Recent work includes a new driveway, bathroom updates, plumbing improvements, and other general repairs throughout the property—making it ready for new occupants.

6. 2026-01-23
   price $290,000 421-char remark

   Show marketing remark (421 chars)

   Duplex in the Heart of 70118 – Great Layout & Income Potential Come see this well-kept duplex offering plenty of space and solid rental potential. Both units feature 3 bedrooms and 2 bathrooms, each with a comfortable and functional layout. Recent work includes a new driveway, bathroom updates, plumbing improvements, and other general repairs throughout the property—making it ready for new occupants.

7. 2025-11-28
   listed $300,000 Active 408-char remark

   Show marketing remark (421 chars)

   Duplex in the Heart of 70118 – Great Layout & Income Potential Come see this well-kept duplex offering plenty of space and solid rental potential. Both units feature 3 bedrooms and 2 bathrooms, each with a comfortable and functional layout. Recent work includes a new driveway, bathroom updates, plumbing improvements, and other general repairs throughout the property—making it ready for new occupants.

8. 2025-11-28
   listed $300,000 Active 421-char remark

   Show marketing remark (421 chars)

   Duplex in the Heart of 70118 – Great Layout & Income Potential Come see this well-kept duplex offering plenty of space and solid rental potential. Both units feature 3 bedrooms and 2 bathrooms, each with a comfortable and functional layout. Recent work includes a new driveway, bathroom updates, plumbing improvements, and other general repairs throughout the property—making it ready for new occupants.

9. 2025-11-28
   listed $300,000

   Show marketing remark (421 chars)

   Duplex in the Heart of 70118 – Great Layout & Income Potential Come see this well-kept duplex offering plenty of space and solid rental potential. Both units feature 3 bedrooms and 2 bathrooms, each with a comfortable and functional layout. Recent work includes a new driveway, bathroom updates, plumbing improvements, and other general repairs throughout the property—making it ready for new occupants.

10. 2022-12-02
    soldstatus $140,000
11. 2022-10-06
    listed $179,000
12. 2012-10-05
    listed $22,500
13. 1980-01-08
    soldstatus $43,500

ⓘ 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: $1,996 · $166/mo
• Projected year-2 tax: $1,996 · $166/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: $39,336
• − Mortgage interest: −$14,004
• − Property taxes: −$1,996
• − Insurance: −$2,048
• − Repairs & maintenance: −$3,147
• − Management: −$3,147
• − Depreciation: −$7,273
• Taxable income: $7,723
• Est. tax owed @ 24.0%: −$1,853
• After-tax cash flow: $9,447/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

+474.7% since first listed

13 events — show timeline

• 2026-05-09 Pending — AcadianaMLS
• 2026-05-09 Pending — GSREIN
• 2026-02-10 Price Changed $250,000 AcadianaMLS
• 2026-02-10 Price Changed $250,000 GSREIN
• 2026-01-23 Price Changed $290,000 AcadianaMLS
• 2026-01-23 Price Changed $290,000 GSREIN
• 2025-11-28 Listed $300,000 AcadianaMLS
• 2025-11-28 Listed $300,000 GSREIN
• 2025-11-28 Listed $300,000 AcadianaMLS
• 2022-12-02 Sold (Public Records) $140,000 Public Records
• 2022-10-06 Listed $179,000 AcadianaMLS
• 2012-10-05 Listed $22,500 AcadianaMLS
• 1980-01-08 Sold (Public Records) $43,500 Public Records

Property tax history

+10.5%/yr

Latest (2026): $1,996 · +1.1% YoY. Source: county tax records.