Deals of the Week | New Orleans
Three properties that still work in an oversupplied doubles market
Inventory across New Orleans has been climbing, and in the doubles market it’s especially noticeable, sitting closer to 16 months of supply right now.
That doesn’t mean everything is a deal. It means the good ones stand out more clearly. Below are three properties that came on the market this week that held up once the numbers were run with conservative assumptions.Rather than relying on listing pro formas, I analyze these using my own underwriting model built around 20% down financing, current tax millages, and elevated insurance costs.
As always, numbers will vary by financing and management style. This is meant to be a starting point, not a guarantee.
🏘️ 2604 Frenchmen St · $310,000
2 Units · Total Rent: $4,200 / mo
Why this is a deal:
Strong cash flow for a two-unit property at an accessible price point. Even after conservative expense reserves, this duplex produces over $700/month and maintains a healthy DSCR. This one works well for investors looking for solid income without stepping into larger multifamily.
Cap Rate: 8.66%
Cash on Cash Return: 10.45%
Monthly Cash Flow: $702
Break-Even Occupancy: 78.28%
🏘️ 308–310 S Norman C Francis Pkwy · $475,000
7 Units · Total Rent: $7,052 / mo
Why this is a deal:
Strong in-place income on a 7-unit asset with meaningful cash flow and excellent coverage. The larger unit count helps spread vacancy risk, and the numbers still work even with conservative insurance and expense assumptions. This is a true buy-and-hold income property in a central location.
Cap Rate: 9.15%
Cash on Cash Return: 12.35%
Monthly Cash Flow: $1,270
Break-Even Occupancy: 76.98%
🏘️ 1527 Dumaine St · $364,250
2 Units · Total Rent: $4,775 / mo
Why this is a deal:
Location-driven duplex near the French Quarter with strong rents for a two-unit property. Cash flow is modest under conservative underwriting, but the appeal here is long-term desirability, appreciation, and flexibility for house hackers or lifestyle-focused investors.
Cap Rate: 6.50%
Cash on Cash Return: 2.16%
Monthly Cash Flow: $170
Break-Even Occupancy: 91.43%
If it makes sense, I’m happy to keep running deals like this based on what you’d want to see more of, just reply with a price range, unit count, or neighborhood you’re watching.