What $150,000 Buys in New Orleans Right Now
A cottage, a starter home, a condo with grant money, and a cash-flowing double.
If you’re shopping around the $150K range, here’s what that budget actually buys in Orleans Parish right now. Mix of property types this week, a pair of Gentilly cottages, a condo with serious grant money available, and an income-producing double.
6068 Wickfield Dr, New Orleans 70122
$149,900 | 2 bed · 1 bath · 724 sqft
(Listing Courtesy Of: Snap Realty)
A 1956 stucco cottage in Burbank a few minutes from the Lakefront. Updated bathroom, hardwood floors, carport, and a detached backyard structure that works as an office, studio, or storage. Move-in ready with more outdoor space than most listings at this price.
5712 Wildair Dr, New Orleans 70122
$150,000 | 3 bed · 1 bath · 1,130 sqft
(Listing Courtesy Of: Property Quest Realty)
A Gentilly starter home near City Park and UNO with three bedrooms, increasingly hard to find in Orleans Parish under $150K. The price has come down from where it started. Note: flood insurance on this one runs $1,371/year ($114/mo), factor that into your payment before running the numbers below.
1824 Oretha Castle Haley Blvd #301, New Orleans 70113
$149,000 | 1 bed · 1 bath · 700 sqft · Condo Fee: $250/mo
(Listing Courtesy Of: Crescent Sotheby's International)
A renovated third-floor condo in an FHA-approved building on OCH. Open floor plan, granite counters, loft-style windows. Qualified buyers can access a down payment grant of up to 20% plus a $5,000 closing cost credit through the LHC program, income limits apply, 640 minimum credit score. Water and exterior insurance included in HOA.
4707-09 Haydel St, New Orleans 70126
$149,900 | 4 bed · 2 bath · 1,416 sqft · Double
(Listing Courtesy Of: Powerhouse Realty Group))
Both units occupied at $919/side, $1,839/month total. New roof in 2022, central air and heat, separate electric meters. At the payment below, an investor clears roughly $567/month before vacancy and maintenance. Owner-occupant on FHA: one side covers $919, effective housing cost around $345/month.
Below are two scenarios: 3% Down Conventional vs 3.5% Down FHA
courtesy of Cameron Budzius at The Mortgage Krewe.
Scenario #1:
3% Down Payment Conventional Loan
30 Year Fixed Rate Mortgage
$149,900 Sales Price $145,403
Loan Amount Interest Rate: 6.33%
Monthly Payment Breakdown: P&I Payment: $903.47
Homeowners Insurance: $167.00
Property Taxes (with Homestead Exemption): $89.69 Mortgage Insurance: $60.58
Total Monthly Payment: $1,220.74
Cash to Close Breakdown: Closing Costs: $5,500.00
Prepaids and Escrows: $3,617.00
Down Payment: $4,497.00
Total Cash to Close: $13,614.00
Scenario #2:
3.5% Down Payment
FHA Loan 30 Year Fixed Rate Mortgage
$149,900 Sales Price $147,157
Loan Amount Interest Rate: 6.10%
Monthly Payment Breakdown: P&I Payment: $893.42
Homeowners Insurance: $167.00
Property Taxes (with Homestead Exemption): $89.69
Mortgage Insurance: $67.49
Total Monthly Payment: $1,217.60
Cash to Close Breakdown: Closing Costs: $5,500.00
Prepaids and Escrows: $3,617.00
Down Payment: $5,247.00
Total Cash to Close: $14,364.00
These are estimates.
For exact figures, contact Cameron Budzius at The Mortgage Krewe.
If you're actively looking in this price range and want eyes on listings before they move, I'm happy to help. Just reply to this email or reach me at 504.335.7481.