9 Heritage Ln #35 · New Orleans, LA 70114

$118,000

1 bd · 1.0 ba · 1,300 sqft · Condo public records · 68 Days on market

Built 1980 $91/sqft · 50% above area Est $79k · 50% over $345/mo HOA · 23% of rent

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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).

• Cash flow +18.5/30.0
• 1% rule +7.9/10.0
• DSCR +5.8/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Tucked within a gated community on a peaceful, low-traffic street, this second-floor condo offers the perfect balance of privacy and convenience, with quick access to major routes including I-10, I-610, and US-90. Inside, you'll find a fully equipped kitchen with a separate dining room, perfect for everyday living or entertaining. The light-filled living room feels open and airy, with a winding staircase leading to a versatile loft space, ideal for a guest sleeping area, home office, or study nook. Recent updates include renovated bathroom finishes and new flooring, adding a fresh, modern touch throughout. Additional highlights include an in-unit laundry room and a private balcony for relaxing outdoors. Condo fees cover water, access to the fenced in-ground community pool, and one assigned parking space--offering both comfort and convenience in one inviting package. At this price point, it's nearly impossible to find something this truly move-in ready!

Key facts

• Gated community
• Winding staircase
• Separate dining room

Tags

• GATED COMMUNITY
• FULLY EQUIPPED KITCHEN
• SEPARATE DINING ROOM
• LIGHT FILLED LIVING ROOM
• WINDING STAIRCASE
• VERSATILE LOFT SPACE

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $118k.

Deal economics

• At list price, monthly cash flow is $112 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $118k).
• Recommended offer: $111k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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 soft (-0.7%/yr); 265 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 42% 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 $816 of loan paydown is wiped out by about $4k 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 68 days — a 6% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 22y ago; this cycle's ask is 9733% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $76k; list at $118k implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.

Recommended offer $110,920 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.29% ✓
• Cap rate: 7.43%
• Cash-on-cash: 4.06%
• DSCR: 1.18
• GRM: 6.5

CMA / ARV

• ARV (median comp): $78,911
• List price: $118,000
• Delta: 49.54%
• Verdict: OVERPRICED
• Comps: 17 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -14.3%
• Equity multiple: 0.51×
• Total profit: $-16,270
• Equity at exit: $17,594

10-year hold

• IRR: -13.6%
• Equity multiple: 0.35×
• Total profit: $-21,451
• Equity at exit: $10,202

Cash invested: $33,040 (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: 6.5×

Monthly cashflow live

• Estimated rent: $1,521 high
• Mortgage (P&I): −$619
• Tax from tax record: −$77 /mo · $923/yr
• Insurance: −$49
• HOA: −$345
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $112

Break-even live

Break-even rent $1,380

Max offer price $118,000

Occupancy floor 88%

Sensitivity live

Price	-10% $179	-5% $145	+0% $112	+5% $78	+10% $45
Rent	-10% $-8	-5% $52	+0% $112	+5% $172	+10% $232
Rate	-1.0pp $171	-0.5pp $142	base $112	+0.5pp $81	+1.0pp $50

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: $29,500
• Closing costs: $3,540
• Reserves months: —
• Total cash needed: —

Rent comps 21 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	21d	1	0.24mi
1945 Pace Blvd Apt 101 New Orleans, LA	2.0	1.0	1000	$1,250	$1.25	12d	1	0.67mi
1945 Pace Blvd Unit 104 New Orleans, LA	2.0	1.0	1000	$1,250	$1.25	25d	1	0.67mi
101 Appletree Ln Unit 2-5 Terrytown, LA	1.0	1.0	910	$1,050	$1.15	6d	1	0.74mi
3307 Kabel Dr New Orleans, LA	2.0	1.5	1000	$1,250	$1.25	5d	1	0.84mi
3315 Kabel Dr New Orleans, LA	2.0	1.5	975	$1,350	$1.38	25d	1	0.84mi
3317 Kabel Dr New Orleans, LA	2.0	1.5	975	$1,350	$1.38	25d	1	0.84mi
735 Lees Ln Unit 2 New Orleans, LA	2.0	1.0	1000	$1,600	$1.60	25d	1	0.85mi
3252 Kabel Dr New Orleans, LA	2.0	1.5	1080	$1,300	$1.20	22d	1	0.88mi
3102 Lawrence St New Orleans, LA	2.0	1.0	950	$1,500	$1.58	25d	1	1.02mi
1565 Murl St Unit B New Orleans, LA	2.0	2.0	1100	$1,100	$1.00	25d	1	1.03mi
241 Helen St Unit 4D Terrytown, LA	2.0	1.5	1383	$1,400	$1.01	45d	1	1.12mi
241 Helen St Unit 3c Terrytown, LA	2.0	1.5	1383	$1,400	$1.01	23d	1	1.12mi
1313 Flanders St New Orleans, LA	2.0	1.0	900	$1,295	$1.44	22d	1	1.19mi
1227 Flanders St New Orleans, LA	2.0	1.0	900	$1,000	$1.11	25d	1	1.24mi
721 Hinyub Ave Unit D Gretna, LA	2.0	1.5	1200	$1,250	$1.04	45d	1	1.27mi
1225 Truxton St Unit 21 Gretna, LA	2.0	2.0	1000	$1,075	$1.07	25d	1	1.38mi
127 Hawkins St Terrytown, LA	2.0	1.0	989	$1,100	$1.11	46d	1	1.38mi
1418 Behrman Ave New Orleans, LA	2.0	1.0	876	$1,400	$1.60	18d	1	1.43mi
1510 Sumner St New Orleans, LA	2.0	1.0	950	$1,474	$1.55	18d	1	1.44mi
1402 Behrman Ave New Orleans, LA	2.0	1.0	1673	$1,500	$0.90	25d	1	1.45mi

HOA detail condo

• Monthly dues: $345 · $4,140/yr
• Likely covers: waterpoolsecurityparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-21
   days on market $118,000 Active 68 DOM
2. 2026-06-18
   days on market $118,000 Active 65 DOM
3. 2026-06-17
   days on market $118,000 Active 64 DOM
4. 2026-06-16
   days on market $118,000 Active 63 DOM
5. 2026-06-15
   days on market $118,000 Active 62 DOM
6. 2026-06-13
   days on market $118,000 Active 60 DOM
7. 2026-06-10
   days on market $118,000 Active 57 DOM
8. 2026-06-09
   days on market $118,000 Active 56 DOM
9. 2026-06-08
   days on market $118,000 Active 55 DOM
10. 2026-06-07
    days on market $118,000 Active 54 DOM
11. 2026-06-05
    days on market $118,000 Active 51 DOM
12. 2026-06-03
    days on market $118,000 Active 50 DOM
13. 2026-06-02
    days on market $118,000 Active 49 DOM
14. 2026-06-01
    days on market $118,000 Active 48 DOM
15. 2026-05-31
    days on market $118,000 Active 47 DOM
16. 2026-05-14
    price $118,000 966-char remark

    Show marketing remark (984 chars)

    Tucked within a gated community on a peaceful, low-traffic street, this second-floor condo offers the perfect balance of privacy and convenience, with quick access to major routes including I-10, I-610, and US-90. Inside, you’ll find a fully equipped kitchen with a separate dining room, perfect for everyday living or entertaining. The light-filled living room feels open and airy, with a winding staircase leading to a versatile loft space, ideal for a guest sleeping area, home office, or study nook. Recent updates include renovated bathroom finishes and new flooring, adding a fresh, modern touch throughout. Additional highlights include an in-unit laundry room and a private balcony for relaxing outdoors. Condo fees cover water, access to the fenced in-ground community pool, and one assigned parking space—offering both comfort and convenience in one inviting package. At this price point, it’s nearly impossible to find something this truly move-in ready!

17. 2026-05-14
    price $118,000 984-char remark

    Show marketing remark (984 chars)

    Tucked within a gated community on a peaceful, low-traffic street, this second-floor condo offers the perfect balance of privacy and convenience, with quick access to major routes including I-10, I-610, and US-90. Inside, you’ll find a fully equipped kitchen with a separate dining room, perfect for everyday living or entertaining. The light-filled living room feels open and airy, with a winding staircase leading to a versatile loft space, ideal for a guest sleeping area, home office, or study nook. Recent updates include renovated bathroom finishes and new flooring, adding a fresh, modern touch throughout. Additional highlights include an in-unit laundry room and a private balcony for relaxing outdoors. Condo fees cover water, access to the fenced in-ground community pool, and one assigned parking space—offering both comfort and convenience in one inviting package. At this price point, it’s nearly impossible to find something this truly move-in ready!

18. 2026-05-14
    listed $1,200

    Show marketing remark (984 chars)

    Tucked within a gated community on a peaceful, low-traffic street, this second-floor condo offers the perfect balance of privacy and convenience, with quick access to major routes including I-10, I-610, and US-90. Inside, you’ll find a fully equipped kitchen with a separate dining room, perfect for everyday living or entertaining. The light-filled living room feels open and airy, with a winding staircase leading to a versatile loft space, ideal for a guest sleeping area, home office, or study nook. Recent updates include renovated bathroom finishes and new flooring, adding a fresh, modern touch throughout. Additional highlights include an in-unit laundry room and a private balcony for relaxing outdoors. Condo fees cover water, access to the fenced in-ground community pool, and one assigned parking space—offering both comfort and convenience in one inviting package. At this price point, it’s nearly impossible to find something this truly move-in ready!

19. 2026-04-30
    price $123,000 966-char remark

    Show marketing remark (984 chars)

    Tucked within a gated community on a peaceful, low-traffic street, this second-floor condo offers the perfect balance of privacy and convenience, with quick access to major routes including I-10, I-610, and US-90. Inside, you’ll find a fully equipped kitchen with a separate dining room, perfect for everyday living or entertaining. The light-filled living room feels open and airy, with a winding staircase leading to a versatile loft space, ideal for a guest sleeping area, home office, or study nook. Recent updates include renovated bathroom finishes and new flooring, adding a fresh, modern touch throughout. Additional highlights include an in-unit laundry room and a private balcony for relaxing outdoors. Condo fees cover water, access to the fenced in-ground community pool, and one assigned parking space—offering both comfort and convenience in one inviting package. At this price point, it’s nearly impossible to find something this truly move-in ready!

20. 2026-04-30
    price $123,000 984-char remark

    Show marketing remark (984 chars)

    Tucked within a gated community on a peaceful, low-traffic street, this second-floor condo offers the perfect balance of privacy and convenience, with quick access to major routes including I-10, I-610, and US-90. Inside, you’ll find a fully equipped kitchen with a separate dining room, perfect for everyday living or entertaining. The light-filled living room feels open and airy, with a winding staircase leading to a versatile loft space, ideal for a guest sleeping area, home office, or study nook. Recent updates include renovated bathroom finishes and new flooring, adding a fresh, modern touch throughout. Additional highlights include an in-unit laundry room and a private balcony for relaxing outdoors. Condo fees cover water, access to the fenced in-ground community pool, and one assigned parking space—offering both comfort and convenience in one inviting package. At this price point, it’s nearly impossible to find something this truly move-in ready!

21. 2026-04-14
    listed $125,000 Active 966-char remark

    Show marketing remark (984 chars)

    Tucked within a gated community on a peaceful, low-traffic street, this second-floor condo offers the perfect balance of privacy and convenience, with quick access to major routes including I-10, I-610, and US-90. Inside, you’ll find a fully equipped kitchen with a separate dining room, perfect for everyday living or entertaining. The light-filled living room feels open and airy, with a winding staircase leading to a versatile loft space, ideal for a guest sleeping area, home office, or study nook. Recent updates include renovated bathroom finishes and new flooring, adding a fresh, modern touch throughout. Additional highlights include an in-unit laundry room and a private balcony for relaxing outdoors. Condo fees cover water, access to the fenced in-ground community pool, and one assigned parking space—offering both comfort and convenience in one inviting package. At this price point, it’s nearly impossible to find something this truly move-in ready!

22. 2026-04-14
    listed $125,000 Active 984-char remark

    Show marketing remark (984 chars)

    Tucked within a gated community on a peaceful, low-traffic street, this second-floor condo offers the perfect balance of privacy and convenience, with quick access to major routes including I-10, I-610, and US-90. Inside, you’ll find a fully equipped kitchen with a separate dining room, perfect for everyday living or entertaining. The light-filled living room feels open and airy, with a winding staircase leading to a versatile loft space, ideal for a guest sleeping area, home office, or study nook. Recent updates include renovated bathroom finishes and new flooring, adding a fresh, modern touch throughout. Additional highlights include an in-unit laundry room and a private balcony for relaxing outdoors. Condo fees cover water, access to the fenced in-ground community pool, and one assigned parking space—offering both comfort and convenience in one inviting package. At this price point, it’s nearly impossible to find something this truly move-in ready!

23. 2022-06-09
    soldstatus $76,000
24. 2005-01-14
    soldstatus $75,000
25. 2004-06-11
    listed $78,500
26. 2004-06-11
    listed $78,500
27. 1997-10-15
    soldstatus $49,000
28. 1980-11-26
    soldstatus $68,000

ⓘ 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: $923 · $77/mo
• Projected year-2 tax: $923 · $77/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: $18,252
• − Mortgage interest: −$6,610
• − Property taxes: −$923
• − Insurance: −$590
• − Repairs & maintenance: −$1,460
• − Management: −$1,460
• − HOA: −$4,140
• − Depreciation: −$3,433
• Taxable loss: −$363
• Est. tax savings @ 24.0%: +$87
• After-tax cash flow: $1,428/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

+73.5% since first listed

13 events — show timeline

• 2026-05-14 Price Changed $118,000 AcadianaMLS
• 2026-05-14 Price Changed $118,000 GSREIN
• 2026-05-14 Listed for Rent $1,200 GSREIN
• 2026-04-30 Price Changed $123,000 AcadianaMLS
• 2026-04-30 Price Changed $123,000 GSREIN
• 2026-04-14 Listed $125,000 GSREIN
• 2026-04-14 Listed $125,000 AcadianaMLS
• 2022-06-09 Sold (Public Records) $76,000 Public Records
• 2005-01-14 Sold (MLS) $75,000 GSREIN
• 2004-06-11 Listed $78,500 GSREIN
• 2004-06-11 Listed $78,500 AcadianaMLS
• 1997-10-15 Sold (Public Records) $49,000 Public Records
• 1980-11-26 Sold (Public Records) $68,000 Public Records

Property tax history

+26.0%/yr

Latest (2026): $923 · +0.0% YoY. Source: county tax records.