1736 Washington Ave #1736 · New Orleans, LA 70113

$325,000

2 bd · 2.0 ba · 1,909 sqft · Condo · 160 Days on market

Built 1923 $170/sqft · 47% below area Est $614k · 47% under $419/mo HOA · 18% of rent ↓ 1% since listing

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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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +4.6/30.0
• Rent growth +4.0/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• Schools +1.6/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Penthouse condominium just a block from St. Charles Avenue! Enjoy the spaciousness of this well-designed open floor plan featuring exposed wood beams, sleek stainless steel appliances, elegant quartz countertops, and abundant natural light from skylights in every room. Glide effortlessly across hardwood floors as you revel in the panoramic city views from your private balcony. The primary bathroom provides a freestanding tub and stylish double vanities. New Roof! Reach out for a Private Tour!

Key facts

• Open floor plan
• Quartz countertops
• Exposed wood beams

Tags

• OPEN FLOOR PLAN
• EXPOSED WOOD BEAMS
• STAINLESS STEEL APPLIANCES
• QUARTZ COUNTERTOPS
• NATURAL LIGHT
• HARDWOOD FLOORS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $325k.

Deal economics

• At list price, monthly cash flow is $-830 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $205k (37.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $232k (28.5% below list).
• Recommended offer: $205k (37.0% below list) — sets the bar for cash-flow.
• Cap rate 3.2% 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 rising fast (+6.0%/yr); 134 active listings in the ZIP; 40 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).
• At $2,323/mo this rent would consume 71% of the median local household income ($39k/yr) (locally 714% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $35k of equity ($2k loan paydown + $32k 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 2, paydown + projected appreciation supports a ~$56k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 160 days — a 12% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 9y ago 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 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $204,905 (37.0% 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 160 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
3. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
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: 0.71% ✗
• Cap rate: 3.23%
• Cash-on-cash: -10.94%
• DSCR: 0.51
• GRM: 11.7

CMA / ARV

• ARV (median comp): $613,521
• List price: $325,000
• Delta: -47.03%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 17.5%
• Equity multiple: 2.45×
• Total profit: $131,608
• Equity at exit: $292,786

10-year hold

• IRR: 17.2%
• Equity multiple: 5.90×
• Total profit: $446,129
• Equity at exit: $631,404

Cash invested: $91,000 (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: 134
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $2,323 high
• Mortgage (P&I): −$1,704
• Tax est. 1.5%: −$406 /mo · $4,875/yr
• Insurance: −$135
• HOA: −$419
• Vacancy / Maint / Mgmt: −$488
• Net cashflow: $-830

Break-even live

Break-even rent $3,373

Max offer price $204,905

Occupancy floor —

Sensitivity live

Price	-10% $-605	-5% $-718	+0% $-830	+5% $-942	+10% $-1,055
Rent	-10% $-1,013	-5% $-922	+0% $-830	+5% $-738	+10% $-646
Rate	-1.0pp $-666	-0.5pp $-747	base $-830	+0.5pp $-914	+1.0pp $-1,000

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2713 Baronne St New Orleans, LA	3.0	2.5	1600	$2,300	$1.44	25d	1	0.08mi
2625 Baronne St Unit 1 New Orleans, LA	3.0	1.5	2100	$2,600	$1.24	45d	1	0.11mi
1908 Washington Ave Unit NA New Orleans, LA	2.0	2.5	1498	$2,100	$1.40	22d	1	0.13mi
1635 2nd St New Orleans, LA	2.0	1.0	1500	$2,175	$1.45	18d	1	0.20mi
2726 Prytania St #7 New Orleans, LA	2.0	2.0	1436	$2,350	$1.64	25d	1	0.21mi
2726 Prytania St #7 New Orleans, LA	2.0	2.0	1436	$2,500	$1.74	45d	1	0.21mi
1441 Washington Ave Unit A New Orleans, LA	2.0	2.5	2027	$3,500	$1.73	13d	1	0.21mi
2107 Fourth St New Orleans, LA	3.0	1.0	1292	$1,775	$1.37	19d	1	0.27mi
3212 Danneel St New Orleans, LA	3.0	2.0	1945	$2,000	$1.03	25d	1	0.28mi
1410 6th St New Orleans, LA	3.0	2.0	1400	$5,000	$3.57	18d	1	0.28mi
2301 Dryades St New Orleans, LA	3.0	3.0	2070	$3,000	$1.45	5d	1	0.31mi
2717 Loyola Ave New Orleans, LA	3.0	2.0	1232	$2,300	$1.87	25d	1	0.32mi
2717 Loyola Ave New Orleans, LA	3.0	2.0	1250	$2,300	$1.84	4d	1	0.32mi
2725 Chestnut St New Orleans, LA	2.0	2.0	1766	$2,500	$1.42	45d	1	0.33mi
1725 Louisiana Ave New Orleans, LA	2.0	2.0	1350	$2,000	$1.48	25d	1	0.33mi
1915 Philip St New Orleans, LA	3.0	1.5	1300	$2,450	$1.88	25d	1	0.34mi
2403 S Saratoga St New Orleans, LA	3.0	2.5	1600	$2,500	$1.56	25d	1	0.34mi
1525 Louisiana Ave New Orleans, LA	2.0	1.0	1650	$2,500	$1.52	19d	1	0.38mi
3429 Baronne St New Orleans, LA	3.0	2.5	1600	$2,500	$1.56	45d	1	0.40mi
3439 Baronne St New Orleans, LA	2.0	2.0	1492	$3,500	$2.35	18d	1	0.41mi
1944 Jackson Ave New Orleans, LA	3.0	2.5	1572	$2,500	$1.59	45d	1	0.43mi
2100 Saint Charles Ave New Orleans, LA	1.0–2.0	1.5–2.0	1077	$3,500	$3.25	5d	2	0.45mi
1111 6th St New Orleans, LA	3.0	1.5	1425	$2,995	$2.10	45d	1	0.46mi
2100 Saint Charles Ave Unit 3M New Orleans, LA	2.0	2.0	1425	$3,500	$2.46	45d	1	0.46mi
2628 Magazine St New Orleans, LA	3.0	2.0	1400	$2,650	$1.89	19d	1	0.50mi
1104 2nd St Unit B New Orleans, LA	2.0	2.0	1750	$10,000	$5.71	25d	1	0.50mi
2608 Magazine St New Orleans, LA	3.0	2.0	1844	$3,100	$1.68	45d	1	0.51mi
2231 S Liberty St New Orleans, LA	3.0	3.5	1752	$2,000	$1.14	19d	1	0.53mi
1013 6th St New Orleans, LA	1.0	1.0	1400	$4,000	$2.86	45d	1	0.53mi
2010 Prytania St New Orleans, LA	2.0	2.0	1600	$2,350	$1.47	25d	1	0.56mi
2123 S Liberty St Unit 2125 New Orleans, LA	3.0	2.0	1500	$2,100	$1.40	5d	1	0.59mi
1520 Saint Mary St Unit E New Orleans, LA	2.0	2.0	1381	$2,800	$2.03	45d	1	0.60mi
929 Eighth St New Orleans, LA	3.0	1.5	1600	$2,250	$1.41	25d	1	0.60mi
1636 Peniston St Unit B New Orleans, LA	3.0	2.0	1950	$1,700	$0.87	22d	1	0.61mi
2502 Laurel St New Orleans, LA	3.0	2.0	1333	$2,300	$1.73	19d	1	0.65mi
817 4th St New Orleans, LA	2.0	2.0	1232	$2,540	$2.06	5d	1	0.67mi
1330 Saint Mary St New Orleans, LA	2.0	2.0	1486	$2,795	$1.88	25d	1	0.67mi
1204 Saint Andrew St Unit 1204 New Orleans, LA	3.0	2.0	1600	$2,300	$1.44	25d	1	0.68mi
1750 Saint Charles Ave #516 New Orleans, LA	2.0	2.0	1507	$2,600	$1.73	18d	1	0.68mi
2539 Amelia St New Orleans, LA	3.0	2.0	1296	$2,200	$1.70	25d	1	0.70mi

HOA detail condo

• Monthly dues: $419 · $5,028/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 42 events

1. 2026-06-21
   days on market $325,000 Active 160 DOM
2. 2026-06-18
   days on market $325,000 Active 157 DOM
3. 2026-06-17
   days on market $325,000 Active 156 DOM
4. 2026-06-16
   days on market $325,000 Active 155 DOM
5. 2026-06-15
   days on market $325,000 Active 154 DOM
6. 2026-06-13
   days on market $325,000 Active 152 DOM
7. 2026-06-10
   days on market $325,000 Active 149 DOM
8. 2026-06-09
   days on market $325,000 Active 148 DOM
9. 2026-06-08
   days on market $325,000 Active 147 DOM
10. 2026-06-07
    days on market $325,000 Active 146 DOM
11. 2026-06-05
    days on market $325,000 Active 143 DOM
12. 2026-06-03
    days on market $325,000 Active 142 DOM
13. 2026-06-02
    days on market $325,000 Active 141 DOM
14. 2026-06-01
    days on market $325,000 Active 140 DOM
15. 2026-05-31
    days on market $325,000 Active 139 DOM
16. 2026-03-23
    price $325,000 497-char remark

    Show marketing remark (498 chars)

    Penthouse condominium just a block from St. Charles Avenue! Enjoy the spaciousness of this well-designed open floor plan featuring exposed wood beams, sleek stainless steel appliances, elegant quartz countertops, and abundant natural light from skylights in every room. Glide effortlessly across hardwood floors as you revel in the panoramic city views from your private balcony. The primary bathroom provides a freestanding tub and stylish double vanities. New Roof! Reach out for a Private Tour!

17. 2026-03-23
    price $325,000 498-char remark

    Show marketing remark (498 chars)

    Penthouse condominium just a block from St. Charles Avenue! Enjoy the spaciousness of this well-designed open floor plan featuring exposed wood beams, sleek stainless steel appliances, elegant quartz countertops, and abundant natural light from skylights in every room. Glide effortlessly across hardwood floors as you revel in the panoramic city views from your private balcony. The primary bathroom provides a freestanding tub and stylish double vanities. New Roof! Reach out for a Private Tour!

18. 2026-01-09
    listed $339,000 Active 497-char remark

    Show marketing remark (498 chars)

    Penthouse condominium just a block from St. Charles Avenue! Enjoy the spaciousness of this well-designed open floor plan featuring exposed wood beams, sleek stainless steel appliances, elegant quartz countertops, and abundant natural light from skylights in every room. Glide effortlessly across hardwood floors as you revel in the panoramic city views from your private balcony. The primary bathroom provides a freestanding tub and stylish double vanities. New Roof! Reach out for a Private Tour!

19. 2026-01-09
    listed $339,000 Active 498-char remark

    Show marketing remark (498 chars)

    Penthouse condominium just a block from St. Charles Avenue! Enjoy the spaciousness of this well-designed open floor plan featuring exposed wood beams, sleek stainless steel appliances, elegant quartz countertops, and abundant natural light from skylights in every room. Glide effortlessly across hardwood floors as you revel in the panoramic city views from your private balcony. The primary bathroom provides a freestanding tub and stylish double vanities. New Roof! Reach out for a Private Tour!

20. 2024-06-26
    historical $1,600
21. 2024-06-20
    price $1,600
22. 2024-06-07
    listed $1,800
23. 2024-05-31
    historical $1,800
24. 2024-04-17
    listed $1,800
25. 2024-02-19
    price $335,000
26. 2023-11-14
    listed $335,000
27. 2022-05-06
    soldstatus $329,000 Closed
28. 2022-04-04
    status Pending
29. 2022-02-16
    price $329,000
30. 2022-01-27
    listed $339,000 Active
31. 2022-01-27
    listed $329,000
32. 2020-03-20
    soldstatus $285,000 Closed
33. 2020-02-13
    status Pending
34. 2020-01-30
    price $297,000
35. 2019-12-05
    status Active
36. 2019-11-07
    status Pending
37. 2019-11-04
    listed $300,000 Active
38. 2019-11-04
    listed $297,000
39. 2017-09-15
    historical
40. 2017-07-14
    price $329,000
41. 2017-05-23
    listed $349,000 Active
42. 2017-05-23
    listed $329,000

ⓘ 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: $27,874
• − Mortgage interest: −$18,205
• − Property taxes: −$4,875
• − Insurance: −$1,625
• − Repairs & maintenance: −$2,230
• − Management: −$2,230
• − HOA: −$5,028
• − Depreciation: −$9,455
• Taxable loss: −$15,773
• Est. tax savings @ 24.0%: +$3,786
• After-tax cash flow: $-6,174/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

-1.2% since first listed

27 events — show timeline

• 2026-03-23 Price Changed $325,000 AcadianaMLS
• 2026-03-23 Price Changed $325,000 GSREIN
• 2026-01-09 Listed $339,000 GSREIN
• 2026-01-09 Listed $339,000 AcadianaMLS
• 2024-06-26 Rental Removed $1,600 GSREIN
• 2024-06-20 Price Changed $1,600 GSREIN
• 2024-06-07 Listed for Rent $1,800 GSREIN
• 2024-05-31 Rental Removed $1,800 GSREIN
• 2024-04-17 Listed for Rent $1,800 GSREIN
• 2024-02-19 Price Changed $335,000 GSREIN
• 2023-11-14 Listed $335,000 AcadianaMLS
• 2022-05-06 Sold (MLS) $329,000 GSREIN
• 2022-04-04 Pending — GSREIN
• 2022-02-16 Price Changed $329,000 GSREIN
• 2022-01-27 Listed $329,000 AcadianaMLS
• 2022-01-27 Listed $339,000 GSREIN
• 2020-03-20 Sold (MLS) $285,000 GSREIN
• 2020-02-13 Pending — GSREIN
• 2020-01-30 Price Changed $297,000 GSREIN
• 2019-12-05 Relisted — GSREIN
• 2019-11-07 Pending — GSREIN
• 2019-11-04 Listed $297,000 AcadianaMLS
• 2019-11-04 Listed $300,000 GSREIN
• 2017-09-15 Listing Removed — GSREIN
• 2017-07-14 Price Changed $329,000 GSREIN
• 2017-05-23 Listed $349,000 GSREIN
• 2017-05-23 Listed $329,000 AcadianaMLS