1822 Lizardi St · New Orleans, LA 70117

$82,000

3 bd · 2.0 ba · 1,809 sqft · SingleFamily public records · 91 Days on market

Built 1975 3,750 sqft lot $45/sqft · 58% below area

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor special in the Lower 9th Ward! 1822 Lizardi St is a fully gutted property ready for renovation, offering a blank slate to bring your vision to life. Whether you’re looking for your next flip, rental, or custom build project, this property presents a great opportunity to create value. Situated on a quiet street with new development and revitalization happening nearby, this is an ideal chance to get in early in a growing area. Seller is also offering separately additional lots at 1909, 47766, and 48151 Lizardi St—creating a rare opportunity for a package deal with strong investment potential.

Key facts

• Quiet street
• Blank slate
• Additional lots

Tags

• FULLY GUTTED PROPERTY
• BLANK SLATE
• QUIET STREET
• NEW DEVELOPMENT
• GROWING AREA
• ADDITIONAL LOTS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $82k.

Deal economics

• At list price, monthly cash flow is $953 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $82k).
• Recommended offer: $75k (9.0% below list) — sets the bar for market timing.
• Cap rate 21.2% 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 (+2.5%/yr); 581 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,007/mo this rent would consume 53% of the median local household income ($46k/yr) (locally 1988% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $567 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 2.5% rent growth), your $23k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($75k) 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.
• Climate carrying-cost: severe 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 $74,620 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 2.45% ✓
• Cap rate: 21.21%
• Cash-on-cash: 53.26%
• DSCR: 3.37
• GRM: 3.4

CMA / ARV

• ARV (median comp): $193,744
• List price: $82,000
• Delta: -57.68%
• 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
2034 Deslonde St	0.28mi	3/2.0	1,716 (-5%)	6mo	$225,000	$131	73
2030 Reynes St	0.19mi	3/2.0	1,678 (-7%)	15mo	$245,000	$146	66
1922 Forstall St	0.09mi	3/2.0	1,643 (-9%)	20mo	$125,000	$76	64
1918 Deslonde St	0.24mi	3/2.0	1,549 (-14%)	8mo	$215,000	$139	59
5901 N Derbigny St	0.49mi	3/2.0	1,656 (-8%)	8mo	$83,320	$50	56
1208 Deslonde St	0.51mi	4/2.0 (+1)	1,680 (-7%)	17mo	$50,000	$30	45
1814 Alabo St	0.46mi	4/3.0 (+1)	1,652 (-9%)	13mo	$165,000	$100	44
2001 Gordon St	0.63mi	3/2.0	2,059 (+14%)	7mo	$65,000	$32	42
1018 Reynes Dr	0.62mi	3/1.0	1,540 (-15%)	10mo	$150,000	$97	34
5428 N Rampart St	0.67mi	4/3.0 (+1)	2,010 (+11%)	10mo	$270,000	$134	33
1514 Poland Ave	0.74mi	3/2.0	1,628 (-10%)	22mo	$205,000	$126	31
912 Lizardi St	0.69mi	4/2.5 (+1)	1,985 (+10%)	18mo	$285,000	$144	30

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

Projected returns pro-forma

-3.0% appreciation · 2.49% rent growth · sell at horizon

5-year hold

• IRR: 46.9%
• Equity multiple: 3.02×
• Total profit: $46,431
• Equity at exit: $12,226

10-year hold

• IRR: 52.4%
• Equity multiple: 5.99×
• Total profit: $114,684
• Equity at exit: $7,090

Cash invested: $22,960 (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 70117

• Rents YoY: 2.5%
• Active inventory: 581
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $2,007 high
• Mortgage (P&I): −$430
• Tax est. 1.5%: −$102 /mo · $1,230/yr
• Insurance: −$34
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $953

Break-even live

Break-even rent $801

Max offer price $82,000

Occupancy floor 48%

Sensitivity live

Price	-10% $1,009	-5% $981	+0% $953	+5% $924	+10% $896
Rent	-10% $794	-5% $873	+0% $953	+5% $1,032	+10% $1,111
Rate	-1.0pp $994	-0.5pp $973	base $953	+0.5pp $931	+1.0pp $910

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: $20,500
• Closing costs: $2,460
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1314 Lamanche St New Orleans, LA	4.0	1.0	1300	$2,100	$1.62	16d	1	0.51mi
5461 Saint Claude Ave New Orleans, LA	4.0	2.0	1250	$2,350	$1.88	24d	1	0.56mi
5459 Saint Claude Ave Unit 5461 New Orleans, LA	4.0	2.0	1454	$2,350	$1.62	24d	1	0.57mi
1901 Tupelo St New Orleans, LA	3.0	2.5	1568	$2,300	$1.47	4d	1	0.67mi
1824 Saint Maurice Ave New Orleans, LA	4.0	2.0	1500	$1,500	$1.00	24d	1	0.70mi
1201 Gordon St New Orleans, LA	3.0	2.5	1367	$1,900	$1.39	17d	1	0.72mi
5450 Burgundy St New Orleans, LA	2.0	1.0	1474	$1,250	$0.85	24d	1	0.75mi
1714 Tricou St New Orleans, LA	3.0	2.0	1271	$1,900	$1.49	24d	1	0.76mi
4318 N Robertson St New Orleans, LA	3.0	1.0	1250	$1,150	$0.92	4d	1	0.78mi
4318 1/2 N Robertson St New Orleans, LA	3.0	1.0	1250	$1,150	$0.92	3d	1	0.78mi
4230 N Claiborne Ave New Orleans, LA	3.0	2.5	1296	$1,750	$1.35	24d	1	0.79mi
1403 Lesseps St New Orleans, LA	3.0	3.0	1700	$1,800	$1.06	12d	1	0.81mi
4317 Urquhart St New Orleans, LA	3.0	2.0	1300	$1,650	$1.27	24d	1	0.83mi
1411 France St New Orleans, LA	3.0	2.0	1525	$2,000	$1.31	24d	1	0.87mi
617 Forstall St New Orleans, LA	3.0	2.0	1262	$2,200	$1.74	4d	1	0.89mi
619 Reynes St New Orleans, LA	3.0	2.0	1318	$2,100	$1.59	16d	1	0.90mi
1119 Bartholomew St Unit 1119 New Orleans, LA	2.0	2.0	1410	$2,500	$1.77	44d	1	1.06mi
1323 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	4d	1	1.10mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	3d	1	1.11mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	4d	1	1.11mi
2012 Esteban St Arabi, LA	3.0	2.0	1466	$2,500	$1.71	11d	1	1.12mi
740 Mazant St New Orleans, LA	2.0	2.0	1750	$2,200	$1.26	24d	1	1.18mi
2019 Gallier St New Orleans, LA	4.0	2.0	1400	$2,200	$1.57	24d	1	1.19mi
1437 Gallier St New Orleans, LA	3.0	2.0	1451	$1,875	$1.29	22d	1	1.21mi
2028 Desire St New Orleans, LA	3.0	1.0	1300	$1,300	$1.00	24d	1	1.28mi
5624-5626 Saint Claude ST New Orleans, LA	4.0	3.0	1521	$2,300	$1.51	24d	1	1.30mi
3900 Royal St Unit 2A New Orleans, LA	2.0	2.0	1300	$3,000	$2.31	4d	1	1.31mi
1835 Louisa St New Orleans, LA	3.0	2.5	1800	$2,350	$1.31	4d	1	1.36mi
1839 Louisa St New Orleans, LA	3.0	2.0	1500	$2,095	$1.40	16d	1	1.36mi
6900 Royal St Arabi, LA	3.0	2.0	1579	$5,888	$3.73	3d	1	1.42mi
3221 Saint Claude Ave New Orleans, LA	3.0	1.0	1900	$1,650	$0.87	24d	1	1.44mi
1239 Center St Arabi, LA	4.0	2.0	1922	$3,500	$1.82	3d	1	1.46mi

Listing history 16 events

1. 2026-06-18
   days on market $82,000 Active 91 DOM
2. 2026-06-17
   days on market $82,000 Active 90 DOM
3. 2026-06-16
   days on market $82,000 Active 89 DOM
4. 2026-06-15
   days on market $82,000 Active 88 DOM
5. 2026-06-13
   days on market $82,000 Active 86 DOM
6. 2026-06-10
   days on market $82,000 Active 83 DOM
7. 2026-06-09
   days on market $82,000 Active 82 DOM
8. 2026-06-08
   days on market $82,000 Active 81 DOM
9. 2026-06-07
   days on market $82,000 Active 80 DOM
10. 2026-06-05
    days on market $82,000 Active 77 DOM
11. 2026-06-03
    days on market $82,000 Active 76 DOM
12. 2026-06-02
    days on market $82,000 Active 75 DOM
13. 2026-06-01
    days on market $82,000 Active 74 DOM
14. 2026-05-31
    days on market $82,000 Active 73 DOM
15. 2026-03-18
    listed $82,000 Active 618-char remark

    Show marketing remark (607 chars)

    Investor special in the Lower 9th Ward! 1822 Lizardi St is a fully gutted property ready for renovation, offering a blank slate to bring your vision to life. Whether you're looking for your next flip, rental, or custom build project, this property presents a great opportunity to create value. Situated on a quiet street with new development and revitalization happening nearby, this is an ideal chance to get in early in a growing area. Seller is also offering separately additional lots at 1909, 47766, and 48151 Lizardi St--creating a rare opportunity for a package deal with strong investment potential.

16. 2026-03-18
    listed $82,000 Active 607-char remark

    Show marketing remark (607 chars)

    Investor special in the Lower 9th Ward! 1822 Lizardi St is a fully gutted property ready for renovation, offering a blank slate to bring your vision to life. Whether you're looking for your next flip, rental, or custom build project, this property presents a great opportunity to create value. Situated on a quiet street with new development and revitalization happening nearby, this is an ideal chance to get in early in a growing area. Seller is also offering separately additional lots at 1909, 47766, and 48151 Lizardi St--creating a rare opportunity for a package deal with strong investment potential.

ⓘ 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 8/10 Severe FEMA zone X (shaded) · 60% 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,087
• − Mortgage interest: −$4,593
• − Property taxes: −$1,230
• − Insurance: −$1,208
• − Repairs & maintenance: −$1,927
• − Management: −$1,927
• − Depreciation: −$2,385
• Taxable income: $10,817
• Est. tax owed @ 24.0%: −$2,596
• After-tax cash flow: $8,835/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): 25,652
• Household income: $45,764
• Rent vs Own: 47.8% rent · 52.2% own
• Severe rent burden: 1988.0

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: Majority Black (60%)
• Race & ethnicity: Black 60% White 30% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Lithuanian 5% Italian 1% Romanian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -177.22%
• Current HPI: 184.6061
• Rent YoY: ▲ 2.49%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-03-18 Listed $82,000 AcadianaMLS
• 2026-03-18 Listed $82,000 GSREIN

Property tax history

+1.4%/yr

Latest (2026): $133 · +1.1% YoY. Source: county tax records.