1205 St Charles Ave #403 · New Orleans, LA 70130

$229,000

2 bd · 1.5 ba · 850 sqft · Condo public records · 2 Days on market

Built 2000

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Why this score? — see what drove the F 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 +7.5/15.0
• Cash flow +4.8/30.0
• 1% rule +4.1/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 1205 St. Charles Avenue, where comfort and convenience meet one of New Orleans’ most iconic addresses. Unit 403 is the largest 1-bedroom floor plan in the building, offering approximately 850 square feet of well-designed living space. The unit features a bright, open living area, an updated kitchen with dishwasher, generous counter space, and ample storage, along with large windows that showcase views of St. Charles Avenue, the Crescent City Connection, the National WWII Museum, and the Mardi Gras parade route. Recent updates include a newer HVAC system and water heater for added efficiency and peace of mind. Residents enjoy a full range of amenities, including a swimming p

Key facts

• Large windows
• Newer water heater
• Updated kitchen

Tags

• UPDATED KITCHEN
• LARGE WINDOWS
• VIEWS OF ST CHARLES AVENUE
• VIEWS OF NATIONAL WWII MUSEUM
• NEWER HVAC SYSTEM
• NEWER WATER HEATER

Property features AI

Exterior

• Home design: Condo
• Construction: Built in 2026

Interior

• Bedrooms: One bedroom
• Bathrooms: One bathroom
• Interior features: Five total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $229k.

Deal economics

• At list price, monthly cash flow is $-563 ($-7k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $209k (8.6% below list).
• Recommended offer: $209k (8.6% below list) — sets the bar for 1% rule.
• Cap rate 3.3% vs local median 4.4% in New Orleans — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 flat; 309 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• This rent runs 31% of the median local income ($80k/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 $2k of loan paydown is wiped out by about $7k 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.

Recommended offer $209,265 (8.6% 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. 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. 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?
6. 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.
7. 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.
8. 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: 0.91% ✗
• Cap rate: 3.34%
• Cash-on-cash: -10.54%
• DSCR: 0.53
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.95% rent growth · sell at horizon

5-year hold

• IRR: -38.7%
• Equity multiple: -0.20×
• Total profit: $-76,798
• Equity at exit: $34,145

10-year hold

• IRR: -82.7%
• Equity multiple: -1.00×
• Total profit: $-128,025
• Equity at exit: $19,800

Cash invested: $64,120 (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 70130

• Rents YoY: 0.9%
• Active inventory: 309
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,093 high
• Mortgage (P&I): −$1,201
• Tax est. 1.5%: −$286 /mo · $3,435/yr
• Insurance: −$95
• HOA est. from 46 same-building comps: −$634
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $-563

Break-even live

Break-even rent $2,806

Max offer price $147,479

Occupancy floor —

Sensitivity live

Price	-10% $-405	-5% $-484	+0% $-563	+5% $-643	+10% $-722
Rent	-10% $-729	-5% $-646	+0% $-563	+5% $-481	+10% $-398
Rate	-1.0pp $-448	-0.5pp $-505	base $-563	+0.5pp $-623	+1.0pp $-683

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1205 Saint Charles Ave New Orleans, LA	1.0	1.0	524	$1,800	$3.44	5d	7	0.03mi
1205 Saint Charles Ave New Orleans, LA	1.0	1.0	524	$1,800	$3.44	22d	6	0.03mi
1501 Clio St Unit 2A New Orleans, LA	2.0	1.0	1000	$2,700	$2.70	13d	1	0.08mi
1126 Erato St Unit A2 New Orleans, LA	2.0	2.0	789	$1,900	$2.41	25d	1	0.18mi
1109 Erato St New Orleans, LA	1.0	1.0	950	$2,300	$2.42	19d	1	0.19mi
814 Howard Ave Unit 103 New Orleans, LA	1.0	1.0	800	$2,600	$3.25	25d	1	0.20mi
814 Howard Ave Unit 201 New Orleans, LA	2.0	1.0	840	$2,800	$3.33	25d	1	0.20mi
814 Howard Ave Unit 101 New Orleans, LA	1.0	1.0	660	$2,100	$3.18	5d	1	0.20mi
818 Howard Ave Unit 301 New Orleans, LA	1.0	1.0	981	$2,358	$2.40	5d	1	0.21mi
822 Howard Ave Unit 1272354P New Orleans, LA	1.0–5.0	1.0–4.0	1749	$3,985	$2.28	3d	3	0.22mi
1405 Terpsichore St Unit 2 New Orleans, LA	2.0	1.0	820	$1,400	$1.71	13d	1	0.25mi
833 Howard Ave New Orleans, LA	1.0	1.0	955	$2,195	$2.30	25d	1	0.26mi
1824 Martin Luther King Junior Blvd Unit A New Orleans, LA	2.0	1.0	700	$1,400	$2.00	25d	1	0.28mi
1824 Martin Luther King Junior Blvd Unit A New Orleans, LA	2.0	1.0	600	$1,400	$2.33	3d	1	0.28mi
1620 Prytania St New Orleans, LA	2.0	1.5	928	$1,600	$1.72	25d	1	0.28mi
1524 Euterpe St New Orleans, LA	1.0	1.0	650	$1,600	$2.46	16d	1	0.29mi
541 Saint Joseph St Unit A New Orleans, LA	1.0	1.0	800	$1,500	$1.88	4d	1	0.30mi
920 Poeyfarre St New Orleans, LA	1.0–2.0	1.0–2.0	795	$2,500	$3.14	23d	5	0.31mi
920 Poeyfarre St New Orleans, LA	1.0–2.0	1.0–2.0	879	$3,200	$3.64	45d	3	0.31mi
920 Poeyfarre St New Orleans, LA	1.0–2.0	1.0–2.0	795	$2,300	$2.89	5d	6	0.31mi
927 Poeyfarre St New Orleans, LA	1.0–2.0	1.0–2.0	852	$2,186	$2.56	4d	5	0.31mi
840 Carondelet St New Orleans, LA	1.0–2.0	1.0–2.0	1220	$4,325	$3.55	3d	4	0.32mi
923 Constance St Unit 116 New Orleans, LA	1.0	1.0	800	$2,400	$3.00	25d	1	0.32mi
802 Saint Charles Ave Unit 401 New Orleans, LA	2.0	2.0	1100	$1,850	$1.68	25d	1	0.35mi
802 Saint Charles Ave New Orleans, LA	1.0	1.5	1100	$1,550	$1.41	25d	1	0.35mi
875 O'Keefe Ave #205 New Orleans, LA	2.0	2.5	1040	$2,250	$2.16	19d	1	0.36mi
875 O'Keefe Ave #208 New Orleans, LA	1.0	1.0	638	$1,595	$2.50	19d	1	0.36mi
1325 Annunciation St New Orleans, LA	1.0–2.0	1.0–2.0	933	$2,655	$2.84	3d	13	0.36mi
344 Saint Joseph St New Orleans, LA	1.0–2.0	1.0–1.5	687	$1,949	$2.84	3d	4	0.36mi
612 Julia St Unit D New Orleans, LA	2.0	1.5	1000	$2,150	$2.15	25d	1	0.37mi
1414 Magazine St #7 New Orleans, LA	2.0	1.0	950	$1,900	$2.00	25d	1	0.38mi
1050 Annunciation St Unit 1272355P New Orleans, LA	2.0–5.0	2.0–4.0	1544	$1,488	$0.96	5d	3	0.38mi
835 Julia St New Orleans, LA	1.0	1.0	829	$2,050	$2.47	25d	2	0.39mi
510 Julia St Unit 201 New Orleans, LA	1.0	1.0	892	$2,300	$2.58	25d	1	0.40mi
1809 Carondelet St New Orleans, LA	2.0	2.0	1086	$2,200	$2.03	25d	1	0.40mi
1809 Carondelet St Unit 1809 New Orleans, LA	2.0	2.0	1086	$2,000	$1.84	5d	1	0.40mi
1765 Coliseum St #217 New Orleans, LA	1.0	1.0	751	$1,800	$2.40	5d	1	0.41mi
1848 Felicity St New Orleans, LA	2.0	1.0	1000	$1,300	$1.30	19d	1	0.42mi
1016 Euterpe St New Orleans, LA	1.0	1.0	800	$1,800	$2.25	25d	1	0.43mi
808 Constance St New Orleans, LA	1.0	1.0	631	$1,967	$3.12	5d	3	0.43mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-21
   remarks 693-char remark
2. 2026-06-21
   listed $229,000 Coming Soon 2 DOM

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

Taxation est. · year 1

• Rental income: $25,112
• − Mortgage interest: −$12,828
• − Property taxes: −$3,435
• − Insurance: −$1,145
• − Repairs & maintenance: −$2,009
• − Management: −$2,009
• − HOA: −$7,608
• − Depreciation: −$6,662
• Taxable loss: −$10,583
• Est. tax savings @ 24.0%: +$2,540
• After-tax cash flow: $-4,220/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): 12,560
• Household income: $80,212
• Rent vs Own: 61.9% rent · 38.1% own
• Severe rent burden: 841.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 57% Black 28% Hispanic / Latino 10% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 8% Italian 3% Slovak 2%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 89% English-only · Spanish 5% 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: ▼ -162.98%
• Current HPI: 206.2364
• Rent YoY: ▲ 0.95%
• 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