1824 Oretha Castle Haley Blvd #306 · New Orleans, LA 70113

$159,000

2 bd · 1.0 ba · 850 sqft · Condo · 215 Days on market

Built 1925 Good condition $187/sqft · 48% below area Est $303k · 48% under $250/mo HOA · 16% of rent

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Why this score? — see what drove the C 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
• Appreciation +10.0/10.0
• Cash flow +9.9/30.0
• 1% rule +5.0/10.0
• Rent growth +4.0/5.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• DSCR +2.8/10.0
• Schools +1.8/10.0

Listing remarks MLS

Brand new construction! This sleek condominium features soft-close cabinetry, stainless steel appliances, and soaring high ceilings. Large loft-style windows invite an abundance of natural light, complemented by the convenience of two oversized walk-in closets. Centrally located on vibrant Oretha Castle Haley Boulevard, offering easy access to the best of New Orleans.

Key facts

• Centrally located
• Soft-close cabinetry
• Loft-style windows

Tags

• SOFT-CLOSE CABINETRY
• STAINLESS STEEL APPLIANCES
• HIGH CEILINGS
• LOFT-STYLE WINDOWS
• OVERSIZED WALK-IN CLOSETS
• CENTRALLY LOCATED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $159k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-165 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $135k (15.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $158k (0.5% below list).
• Recommended offer: $135k (15.1% below list) — sets the bar for cash-flow.
• Cap rate 5.5% vs local median 4.4% in New Orleans — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 fast (+6.0%/yr); 156 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 61d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 72% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $1,582/mo this rent would consume 48% of the median local household income ($39k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Orleans County population projected at +61% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 215 days — a 12% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1925 — 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $135,067 (15.1% 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 215 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
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. 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.
10. 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.
11. 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: 1.00% ✗
• Cap rate: 5.55%
• Cash-on-cash: -2.67%
• DSCR: 0.88
• GRM: 8.4

CMA / ARV

• ARV (median comp): $303,029
• List price: $159,000
• Delta: -47.53%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
920 Poeyfarre St #132	0.77mi	1/1.5 (-1)	857 (+1%)	0mo	$244,200	$285	56
1103 Austerlitz St #1103	1.35mi	2/1.0	890 (+5%)	1mo	$265,000	$298	56
2100 St Charles Ave Unit 12M	0.29mi	1/2.0 (-1)	1,060 (+25%)	0mo	$345,000	$325	52
920 Poeyfarre St #187	0.77mi	2/2.0	897 (+6%)	1mo	$345,000	$385	51
1430 Jackson Ave #205	0.42mi	2/2.0	1,051 (+24%)	1mo	$310,000	$295	51
1765 Coliseum St #407	0.41mi	1/1.0 (-1)	655 (-23%)	1mo	$250,000	$382	50
450 John Churchill Chase St #205	0.86mi	2/2.0	934 (+10%)	0mo	$300,000	$321	44
1001 Julia St Unit 11G	0.69mi	1/1.0 (-1)	947 (+11%)	0mo	$470,000	$496	44
330 Julia St #317	0.96mi	1/1.0 (-1)	760 (-11%)	1mo	$247,000	$325	42
2217 Laurel St #2	0.78mi	2/2.0	1,004 (+18%)	0mo	$260,000	$259	36
1201 Canal St #511	1.37mi	2/2.0	1,014 (+19%)	1mo	$270,000	$266	36
334 Carondelet St #410	1.05mi	1/1.0 (-1)	683 (-20%)	1mo	$280,000	$410	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 5.98% rent growth · sell at horizon

5-year hold

• IRR: 22.3%
• Equity multiple: 2.82×
• Total profit: $81,165
• Equity at exit: $143,240

10-year hold

• IRR: 21.0%
• Equity multiple: 6.82×
• Total profit: $258,915
• Equity at exit: $308,902

Cash invested: $44,520 (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 →

Active competition Active MLS

• For sale now: 7 active · 7 under contract
• Median asking: $305,000 ($388/sqft)
• Median days on market: 112 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -8.1% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 70113

• Rents YoY: 6.0%
• Active inventory: 156
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,582 high
• Mortgage (P&I): −$834
• Tax est. 1.5%: −$199 /mo · $2,385/yr
• Insurance: −$66
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$250
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $-165

Break-even live

Break-even rent $1,791

Max offer price $135,067

Occupancy floor —

Sensitivity live

Price	-10% $-56	-5% $-110	+0% $-165	+5% $-220	+10% $-275
Rent	-10% $-290	-5% $-228	+0% $-165	+5% $-103	+10% $-40
Rate	-1.0pp $-85	-0.5pp $-125	base $-165	+0.5pp $-207	+1.0pp $-249

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: $39,750
• Closing costs: $4,770
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1816 Saint Andrew St Unit 2A New Orleans, LA	2.0	1.0	1110	$1,625	$1.46	20d	1	0.03mi
1827 Baronne St Unit C New Orleans, LA	2.0	1.0	876	$1,450	$1.66	72d	1	0.03mi
1848 Felicity St New Orleans, LA	2.0	1.0	1000	$1,300	$1.30	66d	1	0.06mi
2103 Baronne St Apt 1D New Orleans, LA	2.0	1.0	615	$1,450	$2.36	52d	1	0.08mi
2032 Saint Andrew St New Orleans, LA	3.0	2.0	1035	$1,825	$1.76	41d	1	0.13mi
1809 Carondelet St New Orleans, LA	2.0	2.0	1086	$2,200	$2.03	72d	1	0.13mi
1809 Carondelet St Unit 1809 New Orleans, LA	2.0	2.0	1086	$2,000	$1.84	52d	1	0.13mi
1643 Josephine St New Orleans, LA	1.0–3.0	1.5–2.0	896	$2,066	$2.30	16d	21	0.17mi
2119 Josephine St New Orleans, LA	3.0	1.0	1017	$950	$0.93	70d	1	0.18mi
1824 Martin Luther King Junior Blvd Unit A New Orleans, LA	1.0	1.0	600	$1,300	$2.17	16d	1	0.24mi
1824 Martin Luther King Junior Blvd Unit A New Orleans, LA	2.0	1.0	700	$1,400	$2.00	72d	1	0.24mi
2223 Saint Andrew St New Orleans, LA	1.0	1.0	800	$1,250	$1.56	72d	1	0.25mi
2127 Simon Bolivar Ave New Orleans, LA	2.0	1.0	625	$1,800	$2.88	66d	1	0.25mi
2100 Saint Charles Ave New Orleans, LA	1.0–2.0	1.5–2.0	1077	$3,500	$3.25	52d	2	0.27mi
2311 Baronne St Unit 2311 B New Orleans, LA	2.0	1.5	1000	$1,500	$1.50	25d	1	0.28mi
2233 Saint Charles Ave New Orleans, LA	1.0	1.0–2.0	626	$2,333	$3.72	31d	1	0.28mi
1524 Saint Mary St Unit A New Orleans, LA	1.0	1.0	933	$1,500	$1.61	61d	1	0.28mi
1532 Saint Andrew St #302 New Orleans, LA	1.0	1.0	556	$1,750	$3.15	16d	1	0.29mi
2013 S Liberty St Unit 304 New Orleans, LA	2.0	1.0	700	$1,050	$1.50	27d	1	0.29mi
2013 S Liberty St Apt 202 New Orleans, LA	2.0	1.0	750	$1,075	$1.43	61d	1	0.29mi
1426 Carondelet St Unit G New Orleans, LA	2.0	1.0	750	$1,500	$2.00	25d	1	0.30mi
1426 Carondelet St Unit E New Orleans, LA	2.0	1.0	700	$1,675	$2.39	25d	1	0.30mi
1520 Josephine St New Orleans, LA	1.0	1.5	800	$1,950	$2.44	72d	1	0.30mi
2255 Saint Charles Ave Unit 1 New Orleans, LA	1.0	1.0	800	$1,395	$1.74	30d	1	0.31mi
2255 Saint Charles Ave Unit 207 New Orleans, LA	1.0	1.0	750	$1,395	$1.86	66d	1	0.31mi
1524 Euterpe St New Orleans, LA	1.0	1.0	650	$1,600	$2.46	63d	1	0.31mi
2130 1st St New Orleans, LA	2.0	2.0	1080	$2,200	$2.04	16d	1	0.32mi
1321 S Rampart St Unit 201 New Orleans, LA	1.0	1.0	690	$1,300	$1.88	20d	1	0.34mi
2001 Reverend John Raphael Junior Way Unit 2003 New Orleans, LA	1.0	1.0	750	$1,175	$1.57	70d	1	0.34mi
2003 Rev John Raphael Jr Way New Orleans, LA	1.0	1.0	750	$1,175	$1.57	72d	1	0.35mi
2135 2nd St New Orleans, LA	1.0	1.0	580	$1,200	$2.07	52d	3	0.36mi
1436 Saint Mary St New Orleans, LA	2.0	1.0	1000	$1,400	$1.40	20d	1	0.36mi
1614 Rev John Raphael Jr Way New Orleans, LA	3.0	2.0	1000	$1,500	$1.50	72d	1	0.36mi
1522 Melpomene St New Orleans, LA	1.0	1.0	550	$1,300	$2.36	32d	1	0.37mi
1434 Felicity St New Orleans, LA	1.0	1.0	915	$2,200	$2.40	72d	1	0.37mi
2429 Josephine St New Orleans, LA	1.0	1.0	600	$950	$1.58	32d	1	0.37mi
2429 Josephine St New Orleans, LA	1.0	1.0	600	$950	$1.58	72d	1	0.37mi
1620 Prytania St New Orleans, LA	2.0	1.5	928	$1,600	$1.72	72d	1	0.37mi
2225 2nd St New Orleans, LA	3.0	2.0	1100	$1,800	$1.64	72d	1	0.38mi
2227 Second St New Orleans, LA	2.0	2.0	1100	$1,900	$1.73	72d	1	0.39mi

HOA detail $250/mo · $3,000/yr condo

• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-08-08
   days on market $159,000 Active 215 DOM
2. 2026-08-07
   days on market $159,000 Active 214 DOM
3. 2026-08-06
   days on market $159,000 Active 213 DOM
4. 2026-08-05
   days on market $159,000 Active 212 DOM
5. 2026-08-04
   days on market $159,000 Active 211 DOM
6. 2026-08-03
   days on market $159,000 Active 210 DOM
7. 2026-07-31
   days on market $159,000 Active 207 DOM
8. 2026-07-30
   days on market $159,000 Active 205 DOM
9. 2026-07-28
   days on market $159,000 Active 204 DOM
10. 2026-07-24
    days on market $159,000 Active 200 DOM
11. 2026-07-23
    days on market $159,000 Active 199 DOM
12. 2026-07-22
    days on market $159,000 Active 198 DOM
13. 2026-07-21
    days on market $159,000 Active 197 DOM
14. 2026-07-20
    days on market $159,000 Active 196 DOM
15. 2026-07-18
    days on market $159,000 Active 194 DOM
16. 2026-07-18
    days on market $159,000 Active 193 DOM
17. 2026-07-16
    days on market $159,000 Active 192 DOM
18. 2026-07-15
    days on market $159,000 Active 191 DOM
19. 2026-07-14
    days on market $159,000 Active 190 DOM
20. 2026-07-13
    statusdays on market $159,000 Active 189 DOM
21. 2026-07-13
    days on market $159,000 Active Under Contract 188 DOM
22. 2026-07-11
    days on market $159,000 Active Under Contract 187 DOM
23. 2026-07-10
    days on market $159,000 Active Under Contract 186 DOM
24. 2026-07-09
    days on market $159,000 Active Under Contract 185 DOM
25. 2026-07-07
    days on market $159,000 Active Under Contract 183 DOM
26. 2026-07-06
    days on market $159,000 Active Under Contract 182 DOM
27. 2026-07-06
    days on market $159,000 Active Under Contract 181 DOM
28. 2026-07-03
    days on market $159,000 Active Under Contract 179 DOM
29. 2026-07-02
    days on market $159,000 Active Under Contract 178 DOM
30. 2026-07-01
    days on market $159,000 Active Under Contract 177 DOM
31. 2026-06-30
    days on market $159,000 Active Under Contract 176 DOM
32. 2026-06-29
    days on market $159,000 Active Under Contract 175 DOM
33. 2026-06-28
    days on market $159,000 Active Under Contract 174 DOM
34. 2026-06-27
    days on market $159,000 Active Under Contract 173 DOM
35. 2026-06-27
    days on market $159,000 Active Under Contract 172 DOM
36. 2026-06-25
    days on market $159,000 Active Under Contract 170 DOM
37. 2026-06-22
    days on market $159,000 Active Under Contract 168 DOM
38. 2026-06-21
    days on market $159,000 Active Under Contract 167 DOM
39. 2026-06-18
    days on market $159,000 Active Under Contract 164 DOM
40. 2026-06-17
    days on market $159,000 Active Under Contract 163 DOM
41. 2026-06-16
    days on market $159,000 Active Under Contract 162 DOM
42. 2026-06-15
    days on market $159,000 Active Under Contract 161 DOM
43. 2026-06-13
    days on market $159,000 Active Under Contract 159 DOM
44. 2026-06-10
    days on market $159,000 Active Under Contract 156 DOM
45. 2026-06-09
    days on market $159,000 Active Under Contract 155 DOM
46. 2026-06-08
    days on market $159,000 Active Under Contract 154 DOM
47. 2026-06-07
    days on market $159,000 Active Under Contract 153 DOM
48. 2026-06-05
    days on market $159,000 Active Under Contract 150 DOM
49. 2026-06-03
    days on market $159,000 Active Under Contract 149 DOM
50. 2026-06-02
    days on market $159,000 Active Under Contract 148 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 21 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,985
• − Mortgage interest: −$8,906
• − Property taxes: −$2,385
• − Insurance: −$1,592
• − Repairs & maintenance: −$1,519
• − Management: −$1,519
• − HOA: −$3,000
• − Depreciation: −$4,625
• Taxable loss: −$4,562
• Est. tax savings @ 24.0%: +$1,095
• After-tax cash flow: $-890/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.

Condition & rehab AI · 12 photos

Good 80/100 None rehab

This newly constructed condominium is in excellent condition with fresh finishes and modern amenities. It is move-in ready and offers a great investment opportunity.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping and curb appeal improvements — Enhances curb appeal and can attract more buyers ↑
• Both New flooring in common areas — Fresh flooring can improve the overall look and feel of the property ↑

F Composite school gradezoned avg 18/100

Zoned Schools

Elementary Benjamin Franklin Elem. Math And Science F LA #479/646 Nat'l #34,936/41,679

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

A Composite livability gradescore 81/100

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 · 513,025 people
• City population: 338,817
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 9,387
• Household income: $39,333
• Rent vs Own: 75.4% rent · 24.6% own
• Severe rent burden: 13% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 61% White 20% Hispanic / Latino 13% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 2% Portuguese 1% Slovak 1%
• Foreign-born: 13% · Canada, Vietnam, China
• Languages at home: 86% English-only · Spanish 11% Other Indo-European 1% Vietnamese 1%

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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: ▲ 65.92%
• Current HPI: 229.3968
• Rent YoY: ▲ 5.98%
• Metro: New Orleans-Metairie, LA
• State GDP YoY: ▲ 3.29%
• F500 in state: 10

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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

+0.0% since first listed

4 events — show timeline

• 2026-05-06 Pending — AcadianaMLS
• 2026-05-06 Contingent — GSREIN
• 2026-01-05 Listed $159,000 GSREIN
• 2026-01-05 Listed $159,000 AcadianaMLS