1323 Lizardi St · New Orleans, LA 70117

$127,000

3 bd · 2.0 ba · 882 sqft · SingleFamily public records · 115 Days on market

Built 2009 4,787 sqft lot $144/sqft · at area comps Est $159k · 20% under ↓ 7% since listing

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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 +25.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.6/10.0
• 1% rule +6.8/10.0
• 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

Great opportunity in the heart of the Lower Ninth Ward! This 3-bedroom, 2-bath fixer-upper offers an open floor plan and neutral paint throughout, providing the perfect canvas to make it your own. Whether you're looking for your next home or a smart investment property, this one has strong potential. Conveniently located near shopping centers, parks, and just minutes from the heart of New Orleans. Priced attractively at $137,000 and sold as-is. Don't miss this chance to bring your vision to life!

Key facts

• Open floor plan
• Near parks
• 4,787 sq ft lot

Tags

• OPEN FLOOR PLAN
• NEAR SHOPPING CENTERS
• NEAR PARKS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $127k.

Deal economics

• At list price, monthly cash flow is $240 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $127k).
• Recommended offer: $116k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• This rent runs 39% of the median local income ($46k/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 $878 of loan paydown is wiped out by about $4k 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

• It's been on market 115 days — a 9% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $115,570 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.18% ✓
• Cap rate: 9.19%
• Cash-on-cash: 10.34%
• DSCR: 1.46
• GRM: 7.1

CMA / ARV

• ARV (median comp): $158,820
• List price: $127,000
• Delta: -20.04%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5412 Marais St	0.18mi	3/1.0	900 (+2%)	14mo	$131,500	$146	72
1835 Andry St	0.41mi	3/2.0	918 (+4%)	20mo	$125,000	$136	57
622 Lizardi St	0.50mi	3/1.0	926 (+5%)	9mo	$140,000	$151	56
5859 N Claiborne Ave	0.48mi	3/2.0	903 (+2%)	22mo	$55,000	$61	56

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: -4.5%
• Equity multiple: 0.83×
• Total profit: $-5,995
• Equity at exit: $18,936

10-year hold

• IRR: 4.6%
• Equity multiple: 1.33×
• Total profit: $11,612
• Equity at exit: $10,981

Cash invested: $35,560 (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: 7.1×

Monthly cashflow live

• Estimated rent: $1,499 high
• Mortgage (P&I): −$666
• Tax est. 1.5%: −$159 /mo · $1,905/yr
• Insurance: −$53
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $240

Break-even live

Break-even rent $1,195

Max offer price $127,000

Occupancy floor 79%

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: $31,750
• Closing costs: $3,810
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1422 Andry St New Orleans, LA	3.0	2.0	1100	$1,400	$1.27	3d	1	0.09mi
1449 Andry St New Orleans, LA	2.0	1.0	833	$1,300	$1.56	23d	1	0.13mi
18 Saint Claude Ct New Orleans, LA	3.0	1.0	864	$1,200	$1.39	11d	1	0.29mi
1137 Deslonde St New Orleans, LA	2.0	1.0	1017	$1,500	$1.47	23d	1	0.30mi
1301 Lamanche St New Orleans, LA	3.0	2.0	1090	$1,600	$1.47	3d	1	0.34mi
1301 Lamanche St New Orleans, LA	3.0	2.0	1090	$1,600	$1.47	3d	1	0.34mi
918 Forstall St New Orleans, LA	2.0	1.0	800	$2,290	$2.86	23d	1	0.35mi
920 Forstall St New Orleans, LA	2.0	1.0	800	$1,600	$2.00	23d	1	0.35mi
1304 Jourdan Ave New Orleans, LA	2.0	2.0	890	$959	$1.08	16d	6	0.35mi
5109 Burgundy St New Orleans, LA	2.0	1.0	1122	$1,474	$1.31	17d	1	0.36mi
1835 Andry St New Orleans, LA	3.0	2.0	918	$1,800	$1.96	23d	1	0.38mi
1810 Fats Domino Ave New Orleans, LA	2.0	2.0	975	$916	$0.94	23d	1	0.41mi
816 Forstall St New Orleans, LA	3.0	1.0	850	$1,600	$1.88	23d	1	0.42mi
4824 N Rampart St New Orleans, LA	2.0	1.0	606	$1,450	$2.39	23d	1	0.42mi
4824 N Rampart St New Orleans, LA	2.0	1.0	606	$1,450	$2.39	3d	1	0.42mi
4826 N Rampart St Unit 4826 New Orleans, LA	2.0	1.0	850	$1,200	$1.41	23d	1	0.42mi
5805 Saint Claude Ave New Orleans, LA	2.0	1.0	800	$1,200	$1.50	23d	1	0.42mi
924 Deslonde St Unit B New Orleans, LA	2.0	1.0	658	$1,250	$1.90	23d	1	0.43mi
5900 N Derbigny St Unit 1 New Orleans, LA	3.0	2.0	1000	$1,950	$1.95	3d	1	0.52mi
1030 Gordon St New Orleans, LA	2.0	1.0	675	$12,000	$17.78	43d	1	0.52mi
1030 Gordon St New Orleans, LA	2.0	1.0	675	$1,200	$1.78	3d	1	0.52mi
1030 Gordon St New Orleans, LA	2.0	1.0	675	$1,200	$1.78	3d	1	0.52mi
6002 Saint Claude Ave New Orleans, LA	2.0	2.0	965	$1,275	$1.32	21d	1	0.53mi
4801 Dauphine St Unit B New Orleans, LA	2.0	1.0	875	$1,100	$1.26	23d	1	0.53mi
5317 N Galvez St New Orleans, LA	2.0	1.0	796	$1,275	$1.60	3d	1	0.55mi
5434 Chartres St New Orleans, LA	2.0	1.0	800	$1,150	$1.44	23d	1	0.60mi
4545 Urquhart St Unit B New Orleans, LA	2.0	1.0	700	$1,150	$1.64	23d	1	0.61mi
6038 N Rampart St New Orleans, LA	3.0	2.0	1080	$1,795	$1.66	23d	1	0.61mi
4543 Urquhart St Unit B New Orleans, LA	2.0	1.0	700	$1,150	$1.64	11d	1	0.61mi
6019 Royal St New Orleans, LA	2.0	1.0	790	$1,200	$1.52	23d	1	0.68mi
1334 Tricou St New Orleans, LA	2.0	1.0	1117	$1,500	$1.34	21d	1	0.69mi
924 Kentucky St New Orleans, LA	2.0	1.0	1102	$1,700	$1.54	3d	1	0.75mi
1420 Delery St New Orleans, LA	2.0	1.0	900	$1,250	$1.39	11d	1	0.76mi
4318 N Rampart St New Orleans, LA	2.0	1.0	750	$1,100	$1.47	23d	1	0.82mi
1319 France St New Orleans, LA	2.0	1.0	923	$975	$1.06	21d	1	0.84mi
716 Delery St Unit 716 New Orleans, LA	2.0	1.0	900	$1,200	$1.33	23d	1	0.85mi
4222 N Johnson St New Orleans, LA	3.0	2.0	1100	$1,895	$1.72	23d	1	0.92mi
1015 Government St Unit 11 Arabi, LA	2.0	1.0	720	$999	$1.39	43d	1	0.92mi
1333 Angela Ave Arabi, LA	3.0	2.0	1090	$1,850	$1.70	2d	1	0.94mi
4217 N Johnson St New Orleans, LA	3.0	2.0	904	$1,650	$1.83	23d	1	0.94mi

Listing history 18 events

1. 2026-06-18
   days on market $127,000 Active 115 DOM
2. 2026-06-17
   days on market $127,000 Active 114 DOM
3. 2026-06-16
   days on market $127,000 Active 113 DOM
4. 2026-06-15
   days on market $127,000 Active 112 DOM
5. 2026-06-13
   days on market $127,000 Active 110 DOM
6. 2026-06-10
   days on market $127,000 Active 107 DOM
7. 2026-06-09
   days on market $127,000 Active 106 DOM
8. 2026-06-08
   days on market $127,000 Active 105 DOM
9. 2026-06-07
   days on market $127,000 Active 104 DOM
10. 2026-06-05
    days on market $127,000 Active 101 DOM
11. 2026-06-03
    days on market $127,000 Active 100 DOM
12. 2026-06-02
    days on market $127,000 Active 99 DOM
13. 2026-06-01
    days on market $127,000 Active 98 DOM
14. 2026-05-31
    days on market $127,000 Active 97 DOM
15. 2026-04-06
    price $127,000 501-char remark

    Show marketing remark (513 chars)

    Great opportunity in the heart of the Lower Ninth Ward! This 3-bedroom, 2-bath fixer-upper offers an open floor plan and neutral paint throughout, providing the perfect canvas to make it your own. Whether you’re looking for your next home or a smart investment property, this one has strong potential. Conveniently located near shopping centers, parks, and just minutes from the heart of New Orleans. Priced attractively at $137,000 and sold as-is. Don’t miss this chance to bring your vision to life!

16. 2026-04-06
    price $127,000 513-char remark

    Show marketing remark (513 chars)

    Great opportunity in the heart of the Lower Ninth Ward! This 3-bedroom, 2-bath fixer-upper offers an open floor plan and neutral paint throughout, providing the perfect canvas to make it your own. Whether you’re looking for your next home or a smart investment property, this one has strong potential. Conveniently located near shopping centers, parks, and just minutes from the heart of New Orleans. Priced attractively at $137,000 and sold as-is. Don’t miss this chance to bring your vision to life!

17. 2026-02-23
    listed $137,000 Active 501-char remark

    Show marketing remark (513 chars)

    Great opportunity in the heart of the Lower Ninth Ward! This 3-bedroom, 2-bath fixer-upper offers an open floor plan and neutral paint throughout, providing the perfect canvas to make it your own. Whether you’re looking for your next home or a smart investment property, this one has strong potential. Conveniently located near shopping centers, parks, and just minutes from the heart of New Orleans. Priced attractively at $137,000 and sold as-is. Don’t miss this chance to bring your vision to life!

18. 2026-02-23
    listed $137,000 Active 513-char remark

    Show marketing remark (513 chars)

    Great opportunity in the heart of the Lower Ninth Ward! This 3-bedroom, 2-bath fixer-upper offers an open floor plan and neutral paint throughout, providing the perfect canvas to make it your own. Whether you’re looking for your next home or a smart investment property, this one has strong potential. Conveniently located near shopping centers, parks, and just minutes from the heart of New Orleans. Priced attractively at $137,000 and sold as-is. Don’t miss this chance to bring your vision to life!

ⓘ 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: $17,987
• − Mortgage interest: −$7,114
• − Property taxes: −$1,905
• − Insurance: −$1,432
• − Repairs & maintenance: −$1,439
• − Management: −$1,439
• − Depreciation: −$3,695
• Taxable income: $963
• Est. tax owed @ 24.0%: −$231
• After-tax cash flow: $2,649/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

-7.3% since first listed

4 events — show timeline

• 2026-04-06 Price Changed $127,000 AcadianaMLS
• 2026-04-06 Price Changed $127,000 GSREIN
• 2026-02-23 Listed $137,000 GSREIN
• 2026-02-23 Listed $137,000 AcadianaMLS

Property tax history

-14.2%/yr

Latest (2026): $156 · +0.0% YoY. Source: county tax records.