The Rainbow Fourplex in the Bywater ~ Fully Occupied Income Producing Property in Prime Location! All units occupied with paying tenants who would like to stay. Separate electric and gas meters ~ owner pays water. Many key upgrades have been made including a brand new fortified roof (c. February 2024), four tankless hot water heaters, and hardy plank siding. The gutted rear shed could potentially be converted to a 5th rental unit, renting at an estimated $1,000/month. Large fenced-in backyard. This iconic property represents solid cash flow in an established location with the potential to add value to an already solid foundation. Coveted flood zone X. Property requires some notice to show.
Active
Price cut: $10K (4/23)
$515,000
621 Alvar St, New Orleans, LA 70117
8beds
3,095sqft
Quadruplex, Multi Family, Multi Family
Built in 1925
-- sqft lot
$-- Zestimate®
$166/sqft
$-- HOA
What's special
- 341 days |
- 189 |
- 10 |
Zillow last checked:
Listing updated:
Listed by:
Jacob Freedman 504-603-6577,
FQR Realtors 504-949-5400
Source: GSREIN,MLS#: 2515399
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Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 4
- Full bathrooms: 4
Heating
- Gas
Cooling
- Window Unit(s)
Appliances
- Laundry: In Unit
Interior area
- Total interior livable area: 3,095 sqft
Property
Parking
- Parking features: None
Features
- Levels: Two
- Stories: 2
- Patio & porch: Balcony, Porch
- Exterior features: Balcony, Fence, Porch
- Pool features: None
Lot
- Size: 3,927 Square Feet
- Dimensions: 33' x 119'
- Features: City Lot, Rectangular Lot
Details
- Parcel number: 621ALVARST
- Special conditions: None
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Quadruplex, Multi Family, Multi Family
Materials
- HardiPlank Type
- Foundation: Slab
- Roof: Shingle
Condition
- Very Good Condition
- Year built: 1925
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Green energy
- Energy efficient items: Water Heater
Community & HOA
Location
- Region: New Orleans
Financial & listing details
- Price per square foot: $166/sqft
- Tax assessed value: $512,300
- Annual tax amount: $6,762
- Date on market: 8/5/2025
- Tenant pays: Electricity, Gas
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 4/23/2026 | Price change | $515,000-1.9%$166/sqft |
Source:  GSREIN #2515399 Report a problem | ||
| 1/5/2026 | Price change | $525,000-4.5%$170/sqft |
Source: GSREIN #2515399 Report a problem | ||
| 10/27/2025 | Price change | $550,000-4.3%$178/sqft |
Source: GSREIN #2515399 Report a problem | ||
| 9/30/2025 | Price change | $575,000-4%$186/sqft |
Source: GSREIN #2515399 Report a problem | ||
| 8/5/2025 | Listed for sale | $599,000$194/sqft |
Source: GSREIN #2515399 Report a problem | ||
| 5/30/2024 | Sold | -- |
Source: Public Record Report a problem | ||
| 2/13/2017 | Sold | -- |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2026 | $6,762 | $51,230 |
| 2025 | $6,762 +40.2% | $51,230 +42.3% |
| 2024 | $4,824 -8% | $36,000 |
| 2023 | $5,246 +7.8% | $36,000 +4.1% |
| 2022 | $4,867 -6.1% | $34,590 -3.9% |
| 2021 | $5,182 | $36,000 |
| 2020 | -- | $36,000 +0.8% |
| 2019 | $5,397 | $35,720 |
| 2018 | $5,397 | $35,720 +70.1% |
| 2017 | $5,397 -1.9% | $21,000 |
| 2016 | $5,504 +158.7% | $21,000 |
| 2015 | $2,128 | $21,000 |
| 2014 | $2,128 +2% | $21,000 |
| 2013 | $2,086 | $21,000 -5.6% |
| 2012 | -- | $22,250 |
| 2010 | -- | $22,250 |
| 2009 | -- | $22,250 |
| 2007 | -- | $22,250 +261.2% |
| 2006 | -- | $6,160 |
| 2004 | -- | $6,160 |
| 2002 | -- | $6,160 |
| 2001 | -- | $6,160 |
| 2000 | -- | $6,160 |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
See how much you could borrow to make a competitive offer.
Climate risks
Neighborhood: Bywater
Nearby schools
GreatSchools rating
- 8/10Mary McLeod Bethune Elementary School of Literature & TechnologyGrades: PK-8Distance: 2.4 mi
- 3/10The Delores Taylor Arthur School for Young MenGrades: 8-12Distance: 2.9 mi
- 7/10Benjamin Franklin Elementary Math And ScienceGrades: PK-8Distance: 5.3 mi
- $419,0003 bd2 ba1.5k sqft619 Alvar St, New Orleans, LA 70117Off Market
- $340,500-- bd-- ba-- sqft619 Alvar St #12308, New Orleans, LA 70117Off Market
- $371,0006 bd2 ba1.8k sqft627 Alvar St, New Orleans, LA 70117Off Market
- $--1 bd1 ba1k sqft627 Alvar St #2, New Orleans, LA 70117Off Market
- $--1 bd1 ba526 sqft627 Alvar St APT 1, New Orleans, LA 70117Off Market
- $283,0002 bd1 ba627 sqft623 Alvar St APT 4, New Orleans, LA 70117Off Market
- $--2 bd1 ba725 sqft623 Alvar St APT 3, New Orleans, LA 70117Off Market
- $--2 bd1 ba725 sqft623 Alvar Street #FL 1ST, New Orleans, LA 70117Off Market
A local agent can set up tours, give advice and negotiate with sellers.
A local lender can help you make sure your offer is ready when you are.
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- Louisiana
- Orleans Parish
- New Orleans
- 70117
- Bywater
- 621 Alvar St
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