706-708 Desire St · New Orleans, LA 70117

$375,000

2 bd · 2.0 ba · 1,512 sqft · MultiFamily public records · 91 Days on market

Built 1888 3,598 sqft lot $248/sqft · 16% below area Est $455k · 18% under

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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).

• ARV discount +15.0/15.0
• Cash flow +13.7/30.0
• DSCR +4.1/10.0
• Livability +4.0/5.0
• 1% rule +3.4/10.0
• Rent growth +3.1/5.0
• 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

**New Price, Historic Bywater Cottage Updated with Flexible Floorplan!** New Rear Decking, Large Courtyard, All Well-Located in the Heart of Historic Bywater; 706 Side Larger One Bedroom One Bath with Laundry, L-Shape Design with Direct Courtyard Access. 708 Side One Bedroom with Laundry, Access between Both Units to Easily Combine to Single-Family or Retain as Guest/Rentable Space. Desire and Royal, Behind Markey Park, One Block to Crescent Park, Mississippi River, Multiple Restaurants, Shopping, Well-Established Neighborhood -- Welcome to 706-708 Desire Street in the Heart of Historic Bywater! 706 Leased $1,947 through June 2026, 708 Leased $1,500 through July 2026.

Key facts

• Large rear courtyard
• New rear decking
• 3,598 sq ft lot

Tags

• DIRECT COURTYARD ACCESS
• NEW REAR DECKING
• LARGE REAR COURTYARD
• WELL-ESTABLISHED NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1-bath units multifamily listed at $375k.

Deal economics

• At list price, monthly cash flow is $-42 ($-498/yr) — negative. Per door: $-21/mo.
• To cash-flow at today's rent, offer at most $368k (2.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $314k (16.2% below list).
• Recommended offer: $314k (16.2% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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 (+2.5%/yr); 587 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); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,142/mo this rent would consume 82% of the median local household income ($46k/yr) (locally 1988% 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 $3k of loan paydown is wiped out by about $11k 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 91 days — a 9% lower offer ($341k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 24y ago; this cycle's ask has dropped $50k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $286k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1888 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $314,200 (16.2% 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 91 days. Have you received any prior offers? Is the seller open to a 16% 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. Built in 1888 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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.
11. 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.
12. 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: 0.84% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.29%
• DSCR: 1.01
• GRM: 9.9

CMA / ARV

• ARV (median comp): $455,043
• List price: $375,000
• Delta: -17.59%
• 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
1224 26 Mazant St	0.54mi	2/2.0	1,376 (-9%)	2mo	$245,000	$178	58
1332 Port St	0.71mi	3/2.0 (+1)	1,475 (-2%)	7mo	$181,000	$123	52
701 03 Bartholomew St	0.34mi	3/3.0 (+1)	1,656 (+10%)	20mo	$590,000	$356	43
832 34 France St	0.45mi	3/3.0 (+1)	1,677 (+11%)	10mo	$485,000	$289	43
1025 27 Port St	0.56mi	2/2.0	1,727 (+14%)	22mo	$447,000	$259	32

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 · 2.49% rent growth · sell at horizon

5-year hold

• IRR: -17.6%
• Equity multiple: 0.38×
• Total profit: $-65,009
• Equity at exit: $55,914

10-year hold

• IRR: -10.7%
• Equity multiple: 0.37×
• Total profit: $-66,505
• Equity at exit: $32,423

Cash invested: $105,000 (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 70117

• Rents YoY: 2.5%
• Active inventory: 587
• Price-to-rent: 19.9×

Monthly cashflow live

• Estimated rent: $3,142 high
• Mortgage (P&I): −$1,967
• Tax from tax record: −$334 /mo · $4,013/yr
• Insurance: −$156
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$660
• Net cashflow: $-42

Break-even live

Break-even rent $3,195

Max offer price $367,667

Occupancy floor 96%

Sensitivity live

Price	-10% $171	-5% $65	+0% $-42	+5% $-148	+10% $-254
Rent	-10% $-290	-5% $-166	+0% $-42	+5% $83	+10% $207
Rate	-1.0pp $147	-0.5pp $54	base $-42	+0.5pp $-139	+1.0pp $-238

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$3,142
Total (2 units)			$3,142

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3431 Chartres St #6 New Orleans, LA	2.0	2.5	1262	$2,750	$2.18	16d	1	0.10mi
625 Louisa St New Orleans, LA	2.0	1.0	1162	$2,400	$2.07	25d	1	0.10mi
3421 Burgundy St New Orleans, LA	2.0	2.0	1120	$3,000	$2.68	25d	1	0.14mi
3134 Burgundy St New Orleans, LA	3.0	2.0	1887	$2,900	$1.54	25d	1	0.19mi
3900 Royal St Unit 2A New Orleans, LA	2.0	2.0	1300	$3,000	$2.31	5d	1	0.29mi
3903 Royal St Unit 3903 New Orleans, LA	2.0	1.0	1205	$1,300	$1.08	16d	1	0.29mi
3221 Saint Claude Ave New Orleans, LA	3.0	1.0	1900	$1,650	$0.87	25d	1	0.31mi
882 Montegut St New Orleans, LA	1.0–3.0	1.0–2.0	826	$2,088	$2.53	45d	7	0.34mi
522 Montegut St New Orleans, LA	1.0–2.0	1.0–2.0	1256	$3,500	$2.79	3d	12	0.35mi
740 Mazant St New Orleans, LA	2.0	2.0	1750	$2,200	$1.26	25d	1	0.39mi
3025 Saint Claude Ave New Orleans, LA	2.0	2.0	1224	$1,950	$1.59	25d	1	0.40mi
1034 Montegut St Unit 1034 New Orleans, LA	2.0	2.0	1415	$3,400	$2.40	45d	1	0.41mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	45d	1	0.41mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	25d	1	0.41mi
1231 Feliciana St New Orleans, LA	3.0	2.5	1869	$2,750	$1.47	45d	1	0.46mi
1119 Bartholomew St Unit 1119 New Orleans, LA	2.0	2.0	1410	$2,500	$1.77	45d	1	0.47mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	4d	1	0.51mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	5d	1	0.51mi
1323 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	5d	1	0.51mi
1320 Feliciana St New Orleans, LA	2.0	2.0	1200	$2,000	$1.67	25d	1	0.53mi
2617 Chartres St New Orleans, LA	2.0	1.5	1059	$2,100	$1.98	25d	1	0.56mi
1437 Gallier St New Orleans, LA	3.0	2.0	1451	$1,875	$1.29	23d	1	0.56mi
924 Kentucky St New Orleans, LA	2.0	1.0	1102	$1,700	$1.54	5d	1	0.64mi
1411 France St New Orleans, LA	3.0	2.0	1525	$2,000	$1.31	25d	1	0.69mi
4317 Urquhart St New Orleans, LA	3.0	2.0	1300	$1,650	$1.27	25d	1	0.69mi
1233 Poland Ave New Orleans, LA	2.0	2.0	1200	$2,250	$1.88	25d	1	0.71mi
119 Vallette St New Orleans, LA	3.0	2.5	1500	$2,100	$1.40	25d	1	0.72mi
1403 Lesseps St New Orleans, LA	3.0	3.0	1700	$1,800	$1.06	13d	1	0.73mi
1628 Bartholomew St New Orleans, LA	3.0	2.0	1050	$1,600	$1.52	25d	1	0.76mi
335 Whitney Ave New Orleans, LA	2.0	1.0	1100	$1,575	$1.43	25d	1	0.76mi
4318 1/2 N Robertson St New Orleans, LA	3.0	1.0	1250	$1,150	$0.92	4d	1	0.77mi
4318 N Robertson St New Orleans, LA	3.0	1.0	1250	$1,150	$0.92	5d	1	0.77mi
3125 Industrial Ct New Orleans, LA	2.0	2.5	1100	$1,450	$1.32	25d	1	0.78mi
325 Elmira Ave Unit 325 New Orleans, LA	3.0	1.5	1050	$1,525	$1.45	25d	1	0.78mi
336 Elmira Ave New Orleans, LA	3.0	1.0	1250	$1,825	$1.46	25d	1	0.78mi
600 Marigny St New Orleans, LA	1.0	1.0	1440	$2,000	$1.39	13d	1	0.80mi
2322 Burgundy St Unit C New Orleans, LA	3.0	2.0	1250	$2,200	$1.76	25d	1	0.80mi
1239 Saint Roch Ave New Orleans, LA	2.0	2.0	1500	$2,150	$1.43	5d	1	0.80mi
4230 N Claiborne Ave New Orleans, LA	3.0	2.5	1296	$1,750	$1.35	25d	1	0.81mi
1822 Piety St New Orleans, LA	3.0	1.5	1200	$1,500	$1.25	17d	1	0.82mi

Listing history 21 events

1. 2026-05-18
   status Pending 676-char remark

   Show marketing remark (683 chars)

   * * New Price, Historic Bywater Cottage Updated with Flexible Floorplan! * * New Rear Decking, Large Courtyard, All Well-Located in the Heart of Historic Bywater; 706 Side Larger One Bedroom One Bath with Laundry, L-Shape Design with Direct Courtyard Access. 708 Side One Bedroom with Laundry, Access between Both Units to Easily Combine to Single-Family or Retain as Guest/Rentable Space. Desire and Royal, Behind Markey Park, One Block to Crescent Park, Mississippi River, Multiple Restaurants, Shopping, Well-Established Neighborhood -- Welcome to 706-708 Desire Street in the Heart of Historic Bywater! 706 Leased $1,947 through June 2026, 708 Leased $1,500 through July 2026.

2. 2026-05-18
   historical Active Under Contract 683-char remark

   Show marketing remark (683 chars)

   * * New Price, Historic Bywater Cottage Updated with Flexible Floorplan! * * New Rear Decking, Large Courtyard, All Well-Located in the Heart of Historic Bywater; 706 Side Larger One Bedroom One Bath with Laundry, L-Shape Design with Direct Courtyard Access. 708 Side One Bedroom with Laundry, Access between Both Units to Easily Combine to Single-Family or Retain as Guest/Rentable Space. Desire and Royal, Behind Markey Park, One Block to Crescent Park, Mississippi River, Multiple Restaurants, Shopping, Well-Established Neighborhood -- Welcome to 706-708 Desire Street in the Heart of Historic Bywater! 706 Leased $1,947 through June 2026, 708 Leased $1,500 through July 2026.

3. 2026-05-15
   price $375,000 676-char remark

   Show marketing remark (683 chars)

   * * New Price, Historic Bywater Cottage Updated with Flexible Floorplan! * * New Rear Decking, Large Courtyard, All Well-Located in the Heart of Historic Bywater; 706 Side Larger One Bedroom One Bath with Laundry, L-Shape Design with Direct Courtyard Access. 708 Side One Bedroom with Laundry, Access between Both Units to Easily Combine to Single-Family or Retain as Guest/Rentable Space. Desire and Royal, Behind Markey Park, One Block to Crescent Park, Mississippi River, Multiple Restaurants, Shopping, Well-Established Neighborhood -- Welcome to 706-708 Desire Street in the Heart of Historic Bywater! 706 Leased $1,947 through June 2026, 708 Leased $1,500 through July 2026.

4. 2026-05-15
   price $375,000 683-char remark

   Show marketing remark (683 chars)

   * * New Price, Historic Bywater Cottage Updated with Flexible Floorplan! * * New Rear Decking, Large Courtyard, All Well-Located in the Heart of Historic Bywater; 706 Side Larger One Bedroom One Bath with Laundry, L-Shape Design with Direct Courtyard Access. 708 Side One Bedroom with Laundry, Access between Both Units to Easily Combine to Single-Family or Retain as Guest/Rentable Space. Desire and Royal, Behind Markey Park, One Block to Crescent Park, Mississippi River, Multiple Restaurants, Shopping, Well-Established Neighborhood -- Welcome to 706-708 Desire Street in the Heart of Historic Bywater! 706 Leased $1,947 through June 2026, 708 Leased $1,500 through July 2026.

5. 2026-04-27
   status Active 676-char remark

   Show marketing remark (683 chars)

   * * New Price, Historic Bywater Cottage Updated with Flexible Floorplan! * * New Rear Decking, Large Courtyard, All Well-Located in the Heart of Historic Bywater; 706 Side Larger One Bedroom One Bath with Laundry, L-Shape Design with Direct Courtyard Access. 708 Side One Bedroom with Laundry, Access between Both Units to Easily Combine to Single-Family or Retain as Guest/Rentable Space. Desire and Royal, Behind Markey Park, One Block to Crescent Park, Mississippi River, Multiple Restaurants, Shopping, Well-Established Neighborhood -- Welcome to 706-708 Desire Street in the Heart of Historic Bywater! 706 Leased $1,947 through June 2026, 708 Leased $1,500 through July 2026.

6. 2026-04-27
   status Active 683-char remark

   Show marketing remark (683 chars)

   * * New Price, Historic Bywater Cottage Updated with Flexible Floorplan! * * New Rear Decking, Large Courtyard, All Well-Located in the Heart of Historic Bywater; 706 Side Larger One Bedroom One Bath with Laundry, L-Shape Design with Direct Courtyard Access. 708 Side One Bedroom with Laundry, Access between Both Units to Easily Combine to Single-Family or Retain as Guest/Rentable Space. Desire and Royal, Behind Markey Park, One Block to Crescent Park, Mississippi River, Multiple Restaurants, Shopping, Well-Established Neighborhood -- Welcome to 706-708 Desire Street in the Heart of Historic Bywater! 706 Leased $1,947 through June 2026, 708 Leased $1,500 through July 2026.

7. 2026-04-21
   status Pending 676-char remark

   Show marketing remark (683 chars)

   * * New Price, Historic Bywater Cottage Updated with Flexible Floorplan! * * New Rear Decking, Large Courtyard, All Well-Located in the Heart of Historic Bywater; 706 Side Larger One Bedroom One Bath with Laundry, L-Shape Design with Direct Courtyard Access. 708 Side One Bedroom with Laundry, Access between Both Units to Easily Combine to Single-Family or Retain as Guest/Rentable Space. Desire and Royal, Behind Markey Park, One Block to Crescent Park, Mississippi River, Multiple Restaurants, Shopping, Well-Established Neighborhood -- Welcome to 706-708 Desire Street in the Heart of Historic Bywater! 706 Leased $1,947 through June 2026, 708 Leased $1,500 through July 2026.

8. 2026-04-21
   historical Active Under Contract 683-char remark

   Show marketing remark (683 chars)

   * * New Price, Historic Bywater Cottage Updated with Flexible Floorplan! * * New Rear Decking, Large Courtyard, All Well-Located in the Heart of Historic Bywater; 706 Side Larger One Bedroom One Bath with Laundry, L-Shape Design with Direct Courtyard Access. 708 Side One Bedroom with Laundry, Access between Both Units to Easily Combine to Single-Family or Retain as Guest/Rentable Space. Desire and Royal, Behind Markey Park, One Block to Crescent Park, Mississippi River, Multiple Restaurants, Shopping, Well-Established Neighborhood -- Welcome to 706-708 Desire Street in the Heart of Historic Bywater! 706 Leased $1,947 through June 2026, 708 Leased $1,500 through July 2026.

9. 2026-04-10
   status Active 676-char remark

   Show marketing remark (683 chars)

   * * New Price, Historic Bywater Cottage Updated with Flexible Floorplan! * * New Rear Decking, Large Courtyard, All Well-Located in the Heart of Historic Bywater; 706 Side Larger One Bedroom One Bath with Laundry, L-Shape Design with Direct Courtyard Access. 708 Side One Bedroom with Laundry, Access between Both Units to Easily Combine to Single-Family or Retain as Guest/Rentable Space. Desire and Royal, Behind Markey Park, One Block to Crescent Park, Mississippi River, Multiple Restaurants, Shopping, Well-Established Neighborhood -- Welcome to 706-708 Desire Street in the Heart of Historic Bywater! 706 Leased $1,947 through June 2026, 708 Leased $1,500 through July 2026.

10. 2026-04-10
    status Active 683-char remark

    Show marketing remark (683 chars)

    * * New Price, Historic Bywater Cottage Updated with Flexible Floorplan! * * New Rear Decking, Large Courtyard, All Well-Located in the Heart of Historic Bywater; 706 Side Larger One Bedroom One Bath with Laundry, L-Shape Design with Direct Courtyard Access. 708 Side One Bedroom with Laundry, Access between Both Units to Easily Combine to Single-Family or Retain as Guest/Rentable Space. Desire and Royal, Behind Markey Park, One Block to Crescent Park, Mississippi River, Multiple Restaurants, Shopping, Well-Established Neighborhood -- Welcome to 706-708 Desire Street in the Heart of Historic Bywater! 706 Leased $1,947 through June 2026, 708 Leased $1,500 through July 2026.

11. 2026-04-10
    status Pending 676-char remark

    Show marketing remark (683 chars)

    * * New Price, Historic Bywater Cottage Updated with Flexible Floorplan! * * New Rear Decking, Large Courtyard, All Well-Located in the Heart of Historic Bywater; 706 Side Larger One Bedroom One Bath with Laundry, L-Shape Design with Direct Courtyard Access. 708 Side One Bedroom with Laundry, Access between Both Units to Easily Combine to Single-Family or Retain as Guest/Rentable Space. Desire and Royal, Behind Markey Park, One Block to Crescent Park, Mississippi River, Multiple Restaurants, Shopping, Well-Established Neighborhood -- Welcome to 706-708 Desire Street in the Heart of Historic Bywater! 706 Leased $1,947 through June 2026, 708 Leased $1,500 through July 2026.

12. 2026-04-10
    historical Active Under Contract 683-char remark

    Show marketing remark (683 chars)

    * * New Price, Historic Bywater Cottage Updated with Flexible Floorplan! * * New Rear Decking, Large Courtyard, All Well-Located in the Heart of Historic Bywater; 706 Side Larger One Bedroom One Bath with Laundry, L-Shape Design with Direct Courtyard Access. 708 Side One Bedroom with Laundry, Access between Both Units to Easily Combine to Single-Family or Retain as Guest/Rentable Space. Desire and Royal, Behind Markey Park, One Block to Crescent Park, Mississippi River, Multiple Restaurants, Shopping, Well-Established Neighborhood -- Welcome to 706-708 Desire Street in the Heart of Historic Bywater! 706 Leased $1,947 through June 2026, 708 Leased $1,500 through July 2026.

13. 2026-02-26
    listed $425,000 Active 676-char remark

    Show marketing remark (683 chars)

    * * New Price, Historic Bywater Cottage Updated with Flexible Floorplan! * * New Rear Decking, Large Courtyard, All Well-Located in the Heart of Historic Bywater; 706 Side Larger One Bedroom One Bath with Laundry, L-Shape Design with Direct Courtyard Access. 708 Side One Bedroom with Laundry, Access between Both Units to Easily Combine to Single-Family or Retain as Guest/Rentable Space. Desire and Royal, Behind Markey Park, One Block to Crescent Park, Mississippi River, Multiple Restaurants, Shopping, Well-Established Neighborhood -- Welcome to 706-708 Desire Street in the Heart of Historic Bywater! 706 Leased $1,947 through June 2026, 708 Leased $1,500 through July 2026.

14. 2026-02-26
    listed $425,000 Active 683-char remark

    Show marketing remark (683 chars)

    * * New Price, Historic Bywater Cottage Updated with Flexible Floorplan! * * New Rear Decking, Large Courtyard, All Well-Located in the Heart of Historic Bywater; 706 Side Larger One Bedroom One Bath with Laundry, L-Shape Design with Direct Courtyard Access. 708 Side One Bedroom with Laundry, Access between Both Units to Easily Combine to Single-Family or Retain as Guest/Rentable Space. Desire and Royal, Behind Markey Park, One Block to Crescent Park, Mississippi River, Multiple Restaurants, Shopping, Well-Established Neighborhood -- Welcome to 706-708 Desire Street in the Heart of Historic Bywater! 706 Leased $1,947 through June 2026, 708 Leased $1,500 through July 2026.

15. 2014-05-27
    soldstatus $286,100
16. 2013-10-17
    listed $308,000
17. 2003-04-30
    soldstatus $91,000
18. 2002-12-02
    listed $99,000
19. 2002-12-02
    listed $99,000
20. 1992-06-01
    soldstatus $45,000
21. 1977-08-05
    soldstatus $22,500

ⓘ 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: $4,013 · $334/mo
• Projected year-2 tax: $4,013 · $334/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 · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 22 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,704
• − Mortgage interest: −$21,006
• − Property taxes: −$4,013
• − Insurance: −$2,672
• − Repairs & maintenance: −$3,016
• − Management: −$3,016
• − Depreciation: −$10,909
• Taxable loss: −$6,929
• Est. tax savings @ 24.0%: +$1,663
• After-tax cash flow: $1,165/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): 25,652
• Household income: $45,764
• Rent vs Own: 47.8% rent · 52.2% own
• Severe rent burden: 1988.0

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: Majority Black (60%)
• Race & ethnicity: Black 60% White 30% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Lithuanian 5% Italian 1% Romanian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -177.22%
• Current HPI: 184.6061
• Rent YoY: ▲ 2.49%
• 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

+1566.7% since first listed

21 events — show timeline

• 2026-05-18 Pending — AcadianaMLS
• 2026-05-18 Contingent — GSREIN
• 2026-05-15 Price Changed $375,000 AcadianaMLS
• 2026-05-15 Price Changed $375,000 GSREIN
• 2026-04-27 Relisted — AcadianaMLS
• 2026-04-27 Relisted — GSREIN
• 2026-04-21 Pending — AcadianaMLS
• 2026-04-21 Contingent — GSREIN
• 2026-04-10 Relisted — AcadianaMLS
• 2026-04-10 Relisted — GSREIN
• 2026-04-10 Pending — AcadianaMLS
• 2026-04-10 Contingent — GSREIN
• 2026-02-26 Listed $425,000 GSREIN
• 2026-02-26 Listed $425,000 AcadianaMLS
• 2014-05-27 Sold (Public Records) $286,100 Public Records
• 2013-10-17 Listed $308,000 AcadianaMLS
• 2003-04-30 Sold (MLS) $91,000 GSREIN
• 2002-12-02 Listed $99,000 GSREIN
• 2002-12-02 Listed $99,000 AcadianaMLS
• 1992-06-01 Sold (Public Records) $45,000 Public Records
• 1977-08-05 Sold (Public Records) $22,500 Public Records

Property tax history

-0.5%/yr

Latest (2026): $4,013 · -3.8% YoY. Source: county tax records.