1824 Oretha Castle Haley Blvd #104 · New Orleans, LA 70113

$149,000

1 bd · 1.0 ba · 700 sqft · Condo · 16 Days on market

Built 1925 Excellent condition $213/sqft · 37% below area Est $238k · 37% under $250/mo HOA · 19% 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 +6.9/30.0
• Condition / age +5.0/5.0
• 1% rule +4.0/10.0
• Rent growth +4.0/5.0
• Livability +4.0/5.0
• Schools +1.8/10.0
• DSCR +1.2/10.0

Listing remarks MLS

Stop paying rent and start building your own equity! This newly renovated ground-floor condominium on Oretha Castle Haley Blvd makes homeownership a reality. Qualified buyers can take advantage of $0 down payment options, up to a 20% down payment grant, and a $5,000 closing cost credit. The interior features a sleek, modern open-concept layout complemented by natural light from two large bay windows. The kitchen is updated with granite countertops and soft-close cabinetry—plus, the seller will install brand-new stainless steel appliances upon an accepted offer! Why rent when you can own? Schedule your tour today and see how easy homeownership can be!

Key facts

• Soft-close cabinetry
• Granite countertops
• Open-concept layout

Tags

• GROUND-FLOOR CONDOMINIUM
• OPEN-CONCEPT LAYOUT
• GRANITE COUNTERTOPS
• SOFT-CLOSE CABINETRY
• STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $149k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-223 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $117k (21.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $134k (10.2% below list).
• Recommended offer: $117k (21.6% below list) — sets the bar for cash-flow.

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); 202 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 52d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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).
• This rent runs 41% of the median local income ($39k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k 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 ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($147k) is reasonable based on typical stale-listing flexibility.
• 3 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: 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 $116,795 (21.6% 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. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.90% ✗
• Cap rate: 4.50%
• Cash-on-cash: -6.40%
• DSCR: 0.72
• GRM: 9.3

CMA / ARV

• ARV (median comp): $238,018
• List price: $149,000
• Delta: -37.40%
• 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
1765 Coliseum St #303	0.41mi	1/1.0	655 (-6%)	1mo	$174,000	$266	69
1765 Coliseum St #309	0.41mi	1/1.0	655 (-6%)	3mo	$237,000	$362	68
1107 S Peters St #316	0.90mi	1/1.0	705 (+1%)	0mo	$235,000	$333	64
833 Louisiana Ave Unit B	1.24mi	1/1.0	706 (+1%)	1mo	$200,000	$283	63
835 Julia St #18	0.73mi	1/1.0	657 (-6%)	1mo	$237,500	$361	55
920 Poeyfarre St #383	0.77mi	1/1.0	659 (-6%)	2mo	$249,900	$379	53
1205 St Charles Ave #803	0.46mi	1/1.0	850 (+21%)	3mo	$210,500	$248	51
4007 Saint Charles Ave #221	1.26mi	1/1.0	635 (-9%)	2mo	$240,000	$378	48
760 Magazine St #117	0.90mi	1/1.0	626 (-11%)	2mo	$225,000	$359	46
1461 Annunciation Unit B	0.71mi	1/1.0	813 (+16%)	3mo	$300,000	$369	40
920 Poeyfarre St #135	0.77mi	1/1.0	591 (-16%)	1mo	$195,000	$330	39
825 Louisiana Ave #6	1.25mi	1/1.0	809 (+16%)	2mo	$219,000	$271	39

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: 20.9%
• Equity multiple: 2.71×
• Total profit: $71,280
• Equity at exit: $134,231

10-year hold

• IRR: 19.8%
• Equity multiple: 6.53×
• Total profit: $230,857
• Equity at exit: $289,474

Cash invested: $41,720 (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: 6 active · 6 under contract
• Median asking: $236,750 ($372/sqft)
• Median days on market: 119 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -8.5% 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: 202
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,338 high
• Mortgage (P&I): −$781
• Tax est. 1.5%: −$186 /mo · $2,235/yr
• Insurance: −$62
• HOA: −$250
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $-223

Break-even live

Break-even rent $1,620

Max offer price $116,795

Occupancy floor —

Sensitivity live

Price	-10% $-120	-5% $-171	+0% $-223	+5% $-274	+10% $-326
Rent	-10% $-328	-5% $-275	+0% $-223	+5% $-170	+10% $-117
Rate	-1.0pp $-148	-0.5pp $-185	base $-223	+0.5pp $-261	+1.0pp $-300

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: $37,250
• Closing costs: $4,470
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1827 Baronne St Unit B New Orleans, LA	2.0	1.0	750	$1,450	$1.93	10d	1	0.03mi
2103 Baronne St Unit 2C New Orleans, LA	2.0	1.0	697	$1,600	$2.30	10d	1	0.08mi
2103 Baronne St Apt 1D New Orleans, LA	2.0	1.0	615	$1,450	$2.36	144d	1	0.08mi
2103 Baronne St Unit 2C New Orleans, LA	2.0	1.0	697	$1,600	$2.30	35d	1	0.08mi
1709 Saint Andrew St Unit 1711 New Orleans, LA	1.0	1.0	422	$1,025	$2.43	17d	1	0.12mi
1709 Saint Andrew St Unit 1709 1711 New Orleans, LA	1.0	1.0	422	$1,025	$2.43	18d	1	0.12mi
1709 Saint Andrew St Unit 1709 1711 New Orleans, LA	1.0	1.0	422	$1,100	$2.61	51d	1	0.12mi
1709 Saint Andrew St Unit 1D New Orleans, LA	1.0	1.0	422	$1,100	$2.61	123d	1	0.12mi
1711 Saint Andrew St Apt A1 New Orleans, LA	1.0	1.0	422	$1,050	$2.49	52d	1	0.12mi
1711 Saint Andrew St Unit 1B New Orleans, LA	1.0	1.0	422	$1,100	$2.61	155d	1	0.12mi
1711 Saint Andrew St Unit 1709-2C New Orleans, LA	1.0	1.0	421	$1,050	$2.49	11d	1	0.12mi
1711 Saint Andrew St Apt A1 New Orleans, LA	1.0	1.0	422	$1,100	$2.61	123d	1	0.12mi
1711 Saint Andrew St Unit 1709-2C New Orleans, LA	1.0	1.0	421	$1,050	$2.49	14d	1	0.12mi
2115 Danneel St Unit 102 New Orleans, LA	—	1.0	377	$900	$2.39	112d	1	0.13mi
2115 Danneel St Unit 201 New Orleans, LA	1.0	1.0	377	$1,150	$3.05	118d	1	0.13mi
2104 Brainard St Unit 4 New Orleans, LA	2.0	1.0	750	$1,290	$1.72	10d	1	0.14mi
1643 Josephine St New Orleans, LA	1.0–2.0	1.5–2.0	842	$1,705	$2.02	0d	10	0.17mi
1824 Martin Luther King Junior Blvd Unit A New Orleans, LA	2.0	1.0	700	$1,400	$2.00	164d	1	0.24mi
1824 Martin Luther King Junior Blvd Unit A New Orleans, LA	1.0	1.0	600	$1,300	$2.17	108d	1	0.24mi
2222 Carondelet St Unit E New Orleans, LA	1.0	1.0	740	$1,330	$1.80	33d	1	0.25mi
2127 Simon Bolivar Ave New Orleans, LA	2.0	1.0	625	$1,800	$2.88	158d	1	0.25mi
2309 Baronne St #103 New Orleans, LA	1.0	1.0	570	$1,050	$1.84	51d	1	0.26mi
2309 Baronne St #201 New Orleans, LA	1.0	1.0	585	$1,075	$1.84	32d	1	0.26mi
2100 Saint Charles Ave New Orleans, LA	1.0–2.0	1.5–2.0	1077	$1,750	$1.62	144d	2	0.27mi
2233 Saint Charles Ave New Orleans, LA	1.0	1.0–2.0	626	$2,198	$3.51	22d	1	0.28mi
1532 Saint Andrew St #302 New Orleans, LA	1.0	1.0	556	$1,750	$3.15	108d	1	0.29mi
1520 Saint Mary St Unit B New Orleans, LA	1.0	1.0	632	$1,800	$2.85	52d	1	0.29mi
2013 S Liberty St Unit 304 New Orleans, LA	2.0	1.0	700	$1,050	$1.50	119d	1	0.29mi
2013 S Liberty St Apt 202 New Orleans, LA	2.0	1.0	750	$1,075	$1.43	152d	1	0.29mi
1426 Carondelet St Unit G New Orleans, LA	2.0	1.0	750	$1,425	$1.90	10d	1	0.30mi
1426 Carondelet St Unit E New Orleans, LA	2.0	1.0	700	$1,625	$2.32	10d	1	0.30mi
1520 Josephine St Unit C New Orleans, LA	1.0	1.5	700	$2,175	$3.11	10d	1	0.30mi
2255 Saint Charles Ave Apt 304 New Orleans, LA	1.0	1.0	750	$1,395	$1.86	2d	1	0.31mi
2255 Saint Charles Ave Unit 207 New Orleans, LA	1.0	1.0	750	$1,395	$1.86	158d	1	0.31mi
2255 Saint Charles Ave Unit 203 New Orleans, LA	1.0	1.0	719	$1,395	$1.94	52d	1	0.31mi
1524 Euterpe St Apt E New Orleans, LA	1.0	1.0	650	$1,600	$2.46	21d	1	0.31mi
1524 Euterpe St New Orleans, LA	1.0	1.0	650	$1,600	$2.46	11d	1	0.31mi
1321 S Rampart St Unit 201 New Orleans, LA	1.0	1.0	690	$1,100	$1.59	52d	1	0.34mi
1818 Prytania St Unit 104 New Orleans, LA	1.0	1.0	650	$1,095	$1.68	10d	1	0.34mi
2001 Reverend John Raphael Junior Way Unit 2003 New Orleans, LA	1.0	1.0	750	$1,175	$1.57	162d	1	0.34mi

Property features AI

Finance

• HOA & community: 42 units in the community$250 association fee

Exterior

• Parking: Assigned parkingOff-street parking
• Utilities: Public waterPublic sewerNatural gas unavailable
• Home design: CondominiumFour storiesOne level
• Construction: Slab foundation

Interior

• Kitchen: DishwasherRefrigeratorStainless steel appliancesCooktopOven
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heatingCentral air conditioning
• Interior features: Elevator

HOA detail $250/mo · $3,000/yr condo

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

Listing history 50 events

1. 2026-11-08
   days on market $149,000 Active 16 DOM
2. 2026-11-07
   days on market $149,000 Active 15 DOM
3. 2026-11-06
   days on market $149,000 Active 14 DOM
4. 2026-11-05
   days on market $149,000 Active 13 DOM
5. 2026-11-04
   days on market $149,000 Active 12 DOM
6. 2026-11-02
   days on market $149,000 Active 10 DOM
7. 2026-11-01
   days on market $149,000 Active 9 DOM
8. 2026-10-31
   days on market $149,000 Active 8 DOM
9. 2026-10-30
   days on market $149,000 Active 7 DOM
10. 2026-10-30
    days on marketlisting id $149,000 Active 6 DOM
11. 2026-10-29
    remarks 659-char remark
12. 2026-10-29
    days on marketlisting id $149,000 Active 272 DOM
13. 2026-10-28
    days on market $149,000 Active 273 DOM
14. 2026-10-27
    days on market $149,000 Active 272 DOM
15. 2026-10-26
    days on market $149,000 Active 271 DOM
16. 2026-10-26
    days on market $149,000 Active 270 DOM
17. 2026-10-24
    days on market $149,000 Active 269 DOM
18. 2026-10-23
    days on market $149,000 Active 268 DOM
19. 2026-10-22
    days on market $149,000 Active 267 DOM
20. 2026-10-21
    days on market $149,000 Active 266 DOM
21. 2026-10-20
    days on market $149,000 Active 265 DOM
22. 2026-10-19
    days on market $149,000 Active 264 DOM
23. 2026-10-18
    days on market $149,000 Active 263 DOM
24. 2026-10-17
    days on market $149,000 Active 262 DOM
25. 2026-10-16
    days on market $149,000 Active 261 DOM
26. 2026-10-15
    days on market $149,000 Active 260 DOM
27. 2026-10-14
    days on market $149,000 Active 259 DOM
28. 2026-10-13
    days on market $149,000 Active 258 DOM
29. 2026-10-12
    days on market $149,000 Active 257 DOM
30. 2026-10-11
    days on market $149,000 Active 256 DOM
31. 2026-10-10
    days on market $149,000 Active 255 DOM
32. 2026-10-09
    days on market $149,000 Active 254 DOM
33. 2026-10-08
    days on market $149,000 Active 253 DOM
34. 2026-10-07
    days on market $149,000 Active 252 DOM
35. 2026-10-07
    days on market $149,000 Active 251 DOM
36. 2026-10-05
    days on market $149,000 Active 250 DOM
37. 2026-10-04
    days on market $149,000 Active 249 DOM
38. 2026-10-04
    days on market $149,000 Active 248 DOM
39. 2026-10-02
    days on market $149,000 Active 247 DOM
40. 2026-10-01
    days on market $149,000 Active 246 DOM
41. 2026-09-30
    days on market $149,000 Active 245 DOM
42. 2026-09-29
    days on market $149,000 Active 244 DOM
43. 2026-09-28
    days on market $149,000 Active 243 DOM
44. 2026-09-27
    days on market $149,000 Active 242 DOM
45. 2026-09-25
    days on market $149,000 Active 240 DOM
46. 2026-09-24
    days on market $149,000 Active 239 DOM
47. 2026-09-23
    days on market $149,000 Active 238 DOM
48. 2026-09-22
    days on market $149,000 Active 237 DOM
49. 2026-09-21
    days on market $149,000 Active 236 DOM
50. 2026-09-20
    days on market $149,000 Active 235 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 6/10 Major FEMA zone X · 27% 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: $16,058
• − Mortgage interest: −$8,346
• − Property taxes: −$2,235
• − Insurance: −$745
• − Repairs & maintenance: −$1,285
• − Management: −$1,285
• − HOA: −$3,000
• − Depreciation: −$4,335
• Taxable loss: −$5,172
• Est. tax savings @ 24.0%: +$1,241
• After-tax cash flow: $-1,429/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 · 11 photos

Excellent 100/100 None rehab

This newly renovated ground-floor condominium is move-in ready with a sleek, modern open-concept layout and fresh updates.

Value-add opportunities

• Both Install brand-new stainless steel appliances — Enhances appeal and functionality ↑
• Both Add smart home features — Improves convenience and marketability ↑
• Both Add a smart thermostat — Saves energy and attracts buyers ↑

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 High Mcdonogh #35 College Preparatory School

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%
• 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

Property features AI

Finance

• HOA & community: 42 units in the community$250 association fee

Exterior

• Parking: Assigned parkingOff-street parking
• Utilities: Public waterPublic sewerNatural gas unavailable
• Home design: CondominiumFour storiesOne level
• Construction: Slab foundation

Interior

• Kitchen: DishwasherRefrigeratorStainless steel appliancesCooktopOven
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heatingCentral air conditioning
• Interior features: Elevator

Price history

+0.0% since first listed

3 events — show timeline

• 2026-01-28 Listed $149,000 ROAM MLS
• 2026-01-28 Listed $149,000 AcadianaMLS
• 2026-01-28 Listed $149,000 GSREIN