1718 St Andrew St · New Orleans, LA 70113

$249,900

6 bd · 3.0 ba · 3,206 sqft · SingleFamily public records · 46 Days on market

Built 1920 $78/sqft · 77% below area

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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).

• Cash flow +20.7/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +5.6/10.0
• Rent growth +4.0/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

Listing remarks MLS

Prime REDEVELOPMENT opportunity for an INVESTOR or developer just two blocks from the St. Charles Avenue MARDI GRAS PARADE route—an iconic New Orleans location experiencing continued revitalization and strong demand for renovated properties. Situated in an area with a blend of HISTORIC single-family homes and multi-family residences, this property is ideally positioned for a high-end repositioning. Currently configured as a TRIPLEX with approximately 6 bedrooms (one unit on the first floor and two on the second, featuring a mix of independent and shotgun-style layouts), it offers MULTIPLE potential paths—RESTORE as an upscale multi-family investment, CONVERT to a spacious single-family residence to sell or live in yourself, or EXPLORE alternative configurations such as a double or condominium regime (buyer to verify all zoning and use options). This is a full renovation project and is best suited for an experienced investor or developer seeking to create significant value in a prime location. Wear your VISION glasses and bring your contractor. This property brings REAL OPPORTUNITY. Property is vacant with no utilities on site; utilities will not be activated. Inherited property with limited available information; no seller disclosures. Cash or renovation financing required. Exceptional opportunity to transform this property into a standout asset in the heart of New Orleans.

Key facts

• Built 1920
• Listed 46 days

Tags

• ICONIC NEW ORLEANS LOCATION
• BLEND OF HISTORIC HOMES
• FULL RENOVATION PROJECT

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Two-story property; Raised foundation
• Construction: Wood siding construction; Shingle roof
• Exterior features: Apartment/other structure on property; City lot; Rectangular lot; Lot dimensions approximately 24 x 85

Interior

• Bedrooms: Total rooms: 6
• Bathrooms: 3 full bathrooms
• Heating & cooling: Window unit heating; Window unit cooling
• Interior features: Average condition

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $271 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $242k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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 rising fast (+6.0%/yr); 137 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $25k appreciation (10.0% local appreciation)).
• Orleans County population projected at +61% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 6.0% rent growth), your $70k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, 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 46 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 4 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.
• Current owner paid $45k; list at $250k implies a 455% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1920 — 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 $242,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.06% ✓
• Cap rate: 7.91%
• Cash-on-cash: 5.79%
• DSCR: 1.26
• GRM: 7.9

CMA / ARV

• ARV (median comp): $1,060,102
• List price: $249,900
• Delta: -76.43%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1370 Magazine St	0.53mi	5/4.5 (-1)	2,944 (-8%)	3mo	$843,000	$286	48
935 Jackson Ave	0.62mi	5/5.0 (-1)	3,133 (-2%)	21mo	$1,085,000	$346	37

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: 28.9%
• Equity multiple: 3.31×
• Total profit: $161,622
• Equity at exit: $225,130

10-year hold

• IRR: 26.0%
• Equity multiple: 7.88×
• Total profit: $481,217
• Equity at exit: $485,501

Cash invested: $69,972 (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 70113

• Rents YoY: 6.0%
• Active inventory: 137
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,641 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$334 /mo · $4,010/yr
• Insurance: −$104
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$555
• Net cashflow: $271

Break-even live

Break-even rent $2,298

Max offer price $249,900

Occupancy floor 85%

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
822 Howard Ave Unit 1272354P New Orleans, LA	1.0–5.0	1.0–4.0	1749	$11,882	$6.79	1d	3	0.60mi
1050 Annunciation St Unit 1272355P New Orleans, LA	2.0–5.0	2.0–4.0	1544	$4,490	$2.91	3d	3	0.78mi
1927 Napoleon Ave New Orleans, LA	5.0	2.0	3350	$3,600	$1.07	43d	1	1.41mi

Listing history 19 events

1. 2026-06-18
   days on market $249,900 Active 46 DOM
2. 2026-06-17
   days on market $249,900 Active 45 DOM
3. 2026-06-16
   days on market $249,900 Active 44 DOM
4. 2026-06-15
   days on market $249,900 Active 43 DOM
5. 2026-06-13
   days on market $249,900 Active 41 DOM
6. 2026-06-10
   days on market $249,900 Active 38 DOM
7. 2026-06-09
   days on market $249,900 Active 37 DOM
8. 2026-06-08
   days on market $249,900 Active 36 DOM
9. 2026-06-07
   days on market $249,900 Active 35 DOM
10. 2026-06-05
    days on market $249,900 Active 32 DOM
11. 2026-06-03
    days on market $249,900 Active 31 DOM
12. 2026-06-02
    days on market $249,900 Active 30 DOM
13. 2026-06-01
    days on market $249,900 Active 29 DOM
14. 2026-05-31
    days on market $249,900 Active 28 DOM
15. 2026-05-03
    listed $249,900 Active 1408-char remark

    Show marketing remark (1398 chars)

    Prime REDEVELOPMENT opportunity for an INVESTOR or developer just two blocks from the St. Charles Avenue MARDI GRAS PARADE route--an iconic New Orleans location experiencing continued revitalization and strong demand for renovated properties. Situated in an area with a blend of HISTORIC single-family homes and multi-family residences, this property is ideally positioned for a high-end repositioning. Currently configured as a TRIPLEX with approximately 6 bedrooms (one unit on the first floor and two on the second, featuring a mix of independent and shotgun-style layouts), it offers MULTIPLE potential paths--RESTORE as an upscale multi-family investment, CONVERT to a spacious single-family residence to sell or live in yourself, or EXPLORE alternative configurations such as a double or condominium regime (buyer to verify all zoning and use options). This is a full renovation project and is best suited for an experienced investor or developer seeking to create significant value in a prime location. Wear your VISION glasses and bring your contractor. This property brings REAL OPPORTUNITY. Property is vacant with no utilities on site; utilities will not be activated. Inherited property with limited available information; no seller disclosures. Cash or renovation financing required. Exceptional opportunity to transform this property into a standout asset in the heart of New Orleans.

16. 2026-05-03
    listed $249,900 Active 1398-char remark

    Show marketing remark (1398 chars)

    Prime REDEVELOPMENT opportunity for an INVESTOR or developer just two blocks from the St. Charles Avenue MARDI GRAS PARADE route--an iconic New Orleans location experiencing continued revitalization and strong demand for renovated properties. Situated in an area with a blend of HISTORIC single-family homes and multi-family residences, this property is ideally positioned for a high-end repositioning. Currently configured as a TRIPLEX with approximately 6 bedrooms (one unit on the first floor and two on the second, featuring a mix of independent and shotgun-style layouts), it offers MULTIPLE potential paths--RESTORE as an upscale multi-family investment, CONVERT to a spacious single-family residence to sell or live in yourself, or EXPLORE alternative configurations such as a double or condominium regime (buyer to verify all zoning and use options). This is a full renovation project and is best suited for an experienced investor or developer seeking to create significant value in a prime location. Wear your VISION glasses and bring your contractor. This property brings REAL OPPORTUNITY. Property is vacant with no utilities on site; utilities will not be activated. Inherited property with limited available information; no seller disclosures. Cash or renovation financing required. Exceptional opportunity to transform this property into a standout asset in the heart of New Orleans.

17. 2026-05-03
    listed $249,900 Active

    Show marketing remark (1398 chars)

    Prime REDEVELOPMENT opportunity for an INVESTOR or developer just two blocks from the St. Charles Avenue MARDI GRAS PARADE route--an iconic New Orleans location experiencing continued revitalization and strong demand for renovated properties. Situated in an area with a blend of HISTORIC single-family homes and multi-family residences, this property is ideally positioned for a high-end repositioning. Currently configured as a TRIPLEX with approximately 6 bedrooms (one unit on the first floor and two on the second, featuring a mix of independent and shotgun-style layouts), it offers MULTIPLE potential paths--RESTORE as an upscale multi-family investment, CONVERT to a spacious single-family residence to sell or live in yourself, or EXPLORE alternative configurations such as a double or condominium regime (buyer to verify all zoning and use options). This is a full renovation project and is best suited for an experienced investor or developer seeking to create significant value in a prime location. Wear your VISION glasses and bring your contractor. This property brings REAL OPPORTUNITY. Property is vacant with no utilities on site; utilities will not be activated. Inherited property with limited available information; no seller disclosures. Cash or renovation financing required. Exceptional opportunity to transform this property into a standout asset in the heart of New Orleans.

18. 2026-05-03
    listed $249,900 Active

    Show marketing remark (1398 chars)

    Prime REDEVELOPMENT opportunity for an INVESTOR or developer just two blocks from the St. Charles Avenue MARDI GRAS PARADE route--an iconic New Orleans location experiencing continued revitalization and strong demand for renovated properties. Situated in an area with a blend of HISTORIC single-family homes and multi-family residences, this property is ideally positioned for a high-end repositioning. Currently configured as a TRIPLEX with approximately 6 bedrooms (one unit on the first floor and two on the second, featuring a mix of independent and shotgun-style layouts), it offers MULTIPLE potential paths--RESTORE as an upscale multi-family investment, CONVERT to a spacious single-family residence to sell or live in yourself, or EXPLORE alternative configurations such as a double or condominium regime (buyer to verify all zoning and use options). This is a full renovation project and is best suited for an experienced investor or developer seeking to create significant value in a prime location. Wear your VISION glasses and bring your contractor. This property brings REAL OPPORTUNITY. Property is vacant with no utilities on site; utilities will not be activated. Inherited property with limited available information; no seller disclosures. Cash or renovation financing required. Exceptional opportunity to transform this property into a standout asset in the heart of New Orleans.

19. 1994-09-27
    soldstatus $45,000

ⓘ 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: $4,010 · $334/mo
• Projected year-2 tax: $4,010 · $334/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X · 76% 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: $31,692
• − Mortgage interest: −$13,998
• − Property taxes: −$4,010
• − Insurance: −$2,047
• − Repairs & maintenance: −$2,535
• − Management: −$2,535
• − Depreciation: −$7,270
• Taxable loss: −$703
• Est. tax savings @ 24.0%: +$169
• After-tax cash flow: $3,423/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): 9,387
• Household income: $39,333
• Rent vs Own: 75.4% rent · 24.6% own
• Severe rent burden: 714.0

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 0.57)
• 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%

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

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

+455.3% since first listed

5 events — show timeline

• 2026-05-03 Listed $249,900 AcadianaMLS
• 2026-05-03 Listed $249,900 GSREIN
• 2026-05-03 Listed $249,900 AcadianaMLS
• 2026-05-03 Listed $249,900 GSREIN
• 1994-09-27 Sold (Public Records) $45,000 Public Records

Property tax history

+15.0%/yr

Latest (2026): $4,010 · +1.1% YoY. Source: county tax records.