12 Heritage Ln Ln #46 · New Orleans, LA 70114

$85,000

2 bd · 2.0 ba · 1,380 sqft · Condo public records · 42 Days on market

Built 1985 $62/sqft · at area comps Est $89k · at est. $325/mo HOA · 20% of rent

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.3/15.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover this stylish escape within a gated community!! This sleek two-bedroom, two-bath condo blends fresh, updated finishes with timeless charm. With spacious rooms, a private patio, and no carpet!! Don't miss this chance to explore this space and call it home- schedule your appointment today!

Key facts

• Gated community
• Private patio
• $325 HOA

Tags

• GATED COMMUNITY
• PRIVATE PATIO

Property features AI

Finance

• HOA & community: Heritage Lane association; Association fee $325 (includes common areas and water); Community features include common grounds and pool

Exterior

• Parking: Assigned parking space in parking lot (one space)
• Utilities: Public water; Public sewer
• Home design: Condo; One-story (unit); Total 2-story building; Shingle roof; Entry on main level; Very good condition
• Construction: Brick and HardiPlank exterior; Slab foundation
• Exterior features: Brick and concrete patio/porch; Community pool; City lot (condo)

Interior

• Bedrooms: 2 rooms total
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fan(s); Pantry; Wood-burning fireplace
• Laundry & utility: In-unit laundry with washer and dryer hookups

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $85k.

Deal economics

• At list price, monthly cash flow is $366 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.5% 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 soft (-0.7%/yr); 265 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• This rent runs 44% of the median local income ($43k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k 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 42 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $67k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.

Recommended offer $82,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.87% ✓
• Cap rate: 11.47%
• Cash-on-cash: 18.48%
• DSCR: 1.82
• GRM: 4.5

CMA / ARV

• ARV (median comp): $88,618
• List price: $85,000
• Delta: -4.08%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 5.8%
• Equity multiple: 1.22×
• Total profit: $5,122
• Equity at exit: $12,674

10-year hold

• IRR: 11.3%
• Equity multiple: 1.73×
• Total profit: $17,376
• Equity at exit: $7,349

Cash invested: $23,800 (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 70114

• Rents YoY: -0.7%
• Active inventory: 265
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,588 high
• Mortgage (P&I): −$446
• Tax from tax record: −$82 /mo · $985/yr
• Insurance: −$35
• HOA: −$325
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $366

Break-even live

Break-even rent $1,124

Max offer price $85,000

Occupancy floor 72%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3725 Macarthur Blvd Unit 2A New Orleans, LA	2.0	2.0	1200	$2,750	$2.29	19d	1	0.30mi
2002 Pace Blvd Unit 103 New Orleans, LA	3.0	2.0	1000	$1,500	$1.50	14d	1	0.62mi
1945 Pace Blvd Apt 101 New Orleans, LA	2.0	1.0	1000	$1,250	$1.25	10d	1	0.64mi
1945 Pace Blvd Unit 104 New Orleans, LA	2.0	1.0	1000	$1,250	$1.25	24d	1	0.64mi
101 Appletree Ln Unit 2-5 Terrytown, LA	1.0	1.0	910	$1,050	$1.15	4d	1	0.69mi
2123 Browning Ln Terrytown, LA	3.0	1.5	1073	$1,650	$1.54	3d	1	0.82mi
3000 Americus St New Orleans, LA	3.0	2.0	1280	$1,400	$1.09	24d	1	0.82mi
1719 Pace Blvd New Orleans, LA	3.0	1.0	1178	$2,000	$1.70	12d	1	0.84mi
423 E Butterfly Cir Terrytown, LA	3.0	1.5	1189	$1,500	$1.26	24d	1	0.85mi
735 Lees Ln Unit 2 New Orleans, LA	2.0	1.0	1000	$1,600	$1.60	24d	1	0.87mi
429 E Butterfly Cir Terrytown, LA	3.0	1.5	1300	$1,650	$1.27	24d	1	0.87mi
429 E Butterfly Cir Terrytown, LA	3.0	1.5	1300	$1,950	$1.50	21d	1	0.87mi
3307 Kabel Dr New Orleans, LA	2.0	1.5	1000	$1,250	$1.25	3d	1	0.89mi
3315 Kabel Dr New Orleans, LA	2.0	1.5	975	$1,350	$1.38	24d	1	0.90mi
3317 Kabel Dr New Orleans, LA	2.0	1.5	975	$1,350	$1.38	24d	1	0.90mi
300 Terry Pkwy Unit C Terrytown, LA	3.0	2.5	1532	$1,800	$1.17	24d	1	0.92mi
3362 Kabel Dr New Orleans, LA	3.0	2.0	1000	$1,250	$1.25	24d	1	0.93mi
3252 Kabel Dr New Orleans, LA	2.0	1.5	1080	$1,300	$1.20	20d	1	0.94mi
3320 Kabel Dr Unit C New Orleans, LA	3.0	2.0	999	$1,100	$1.10	3d	1	0.95mi
1622 Jo Ann Pl New Orleans, LA	3.0	1.5	1301	$1,500	$1.15	2d	1	0.96mi
3102 Lawrence St New Orleans, LA	2.0	1.0	950	$1,500	$1.58	24d	1	1.01mi
1565 Murl St Unit B New Orleans, LA	2.0	2.0	1100	$1,100	$1.00	24d	1	1.02mi
310 Coral Ave Gretna, LA	3.0	1.5	1216	$1,750	$1.44	24d	1	1.03mi
517 Diplomat St Terrytown, LA	3.0	2.0	1850	$2,000	$1.08	4d	1	1.05mi
2124 DuPont Dr Terrytown, LA	3.0	1.0	1127	$1,800	$1.60	14d	1	1.07mi
241 Helen St Unit 3c Terrytown, LA	2.0	1.5	1383	$1,400	$1.01	21d	1	1.07mi
241 Helen St Unit 4D Terrytown, LA	2.0	1.5	1383	$1,400	$1.01	44d	1	1.07mi
349 Cherry Blossom Ln Terrytown, LA	3.0	1.5	1225	$1,600	$1.31	24d	1	1.07mi
2100 Stumpf Blvd Terrytown, LA	3.0	1.0	1100	$1,800	$1.64	4d	1	1.09mi
1625 Lauradale Dr New Orleans, LA	3.0	2.0	1029	$1,700	$1.65	3d	1	1.13mi
1313 Flanders St New Orleans, LA	2.0	1.0	900	$1,295	$1.44	20d	1	1.19mi
1810 Stumpf Blvd Gretna, LA	3.0	1.0	1000	$1,650	$1.65	44d	1	1.20mi
721 Hinyub Ave Unit D Gretna, LA	2.0	1.5	1200	$1,250	$1.04	44d	1	1.22mi
1227 Flanders St New Orleans, LA	2.0	1.0	900	$1,000	$1.11	24d	1	1.24mi
3151 Plymouth Pl New Orleans, LA	3.0	1.0	1470	$1,700	$1.16	24d	1	1.30mi
1225 Truxton St Unit 21 Gretna, LA	2.0	2.0	1000	$1,075	$1.07	24d	1	1.32mi
1812 River Oaks Dr New Orleans, LA	3.0	1.0	1148	$1,700	$1.48	3d	1	1.32mi
1812 River Oaks Dr New Orleans, LA	3.0	1.0	1148	$1,700	$1.48	3d	1	1.32mi
127 Hawkins St Terrytown, LA	2.0	1.0	989	$1,100	$1.11	44d	1	1.33mi
1200 Southlawn Blvd New Orleans, LA	3.0	2.0	950	$1,725	$1.82	24d	1	1.36mi

HOA detail condo

• Monthly dues: $325 · $3,900/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $85,000 Active 42 DOM
2. 2026-06-17
   days on market $85,000 Active 41 DOM
3. 2026-06-16
   days on market $85,000 Active 40 DOM
4. 2026-06-15
   days on market $85,000 Active 39 DOM
5. 2026-06-13
   days on market $85,000 Active 37 DOM
6. 2026-06-10
   days on market $85,000 Active 34 DOM
7. 2026-06-09
   days on market $85,000 Active 33 DOM
8. 2026-06-08
   days on market $85,000 Active 32 DOM
9. 2026-06-07
   days on market $85,000 Active 31 DOM
10. 2026-06-05
    days on market $85,000 Active 28 DOM
11. 2026-06-03
    days on market $85,000 Active 27 DOM
12. 2026-06-02
    pricedays on market $85,000 Active 26 DOM

    Show marketing remark (296 chars)

    Discover this stylish escape within a gated community!! This sleek two-bedroom, two-bath condo blends fresh, updated finishes with timeless charm. With spacious rooms, a private patio, and no carpet!! Don't miss this chance to explore this space and call it home- schedule your appointment today!

13. 2026-06-01
    days on market $90,000 Active 25 DOM
14. 2026-05-31
    days on market $90,000 Active 24 DOM
15. 2026-05-06
    listed $90,000 Active 308-char remark

    Show marketing remark (296 chars)

    Discover this stylish escape within a gated community!! This sleek two-bedroom, two-bath condo blends fresh, updated finishes with timeless charm. With spacious rooms, a private patio, and no carpet!! Don't miss this chance to explore this space and call it home- schedule your appointment today!

16. 2026-05-06
    listed $90,000 Active 296-char remark

    Show marketing remark (296 chars)

    Discover this stylish escape within a gated community!! This sleek two-bedroom, two-bath condo blends fresh, updated finishes with timeless charm. With spacious rooms, a private patio, and no carpet!! Don't miss this chance to explore this space and call it home- schedule your appointment today!

17. 2026-01-25
    listed $90,000 Active
18. 2000-04-07
    soldstatus $67,000
19. 1991-03-01
    soldstatus $41,000

ⓘ 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: $985 · $82/mo
• Projected year-2 tax: $985 · $82/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $19,059
• − Mortgage interest: −$4,761
• − Property taxes: −$985
• − Insurance: −$425
• − Repairs & maintenance: −$1,525
• − Management: −$1,525
• − HOA: −$3,900
• − Depreciation: −$2,473
• Taxable income: $3,466
• Est. tax owed @ 24.0%: −$832
• After-tax cash flow: $3,566/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): 22,659
• Household income: $43,493
• Rent vs Own: 58.8% rent · 41.2% own
• Severe rent burden: 2240.0

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: Predominantly Black (72%)
• Race & ethnicity: Black 72% White 16% Hispanic / Latino 8% Two or more races 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Slovak 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -98.56%
• Current HPI: 149.0172
• Rent YoY: ▼ -0.72%
• 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

+107.3% since first listed

7 events — show timeline

• 2026-06-02 Price Changed $85,000 AcadianaMLS
• 2026-06-02 Price Changed $85,000 GSREIN
• 2026-05-06 Listed $90,000 GSREIN
• 2026-05-06 Listed $90,000 AcadianaMLS
• 2026-01-25 Listed $90,000 AcadianaMLS
• 2000-04-07 Sold (Public Records) $67,000 Public Records
• 1991-03-01 Sold (Public Records) $41,000 Public Records

Property tax history

+2.3%/yr

Latest (2026): $985 · +0.0% YoY. Source: county tax records.