What $650,000 Buys You in New Orleans Right Now

A side-by-side look at five active homes and the trade-offs buyers are navigating at this price point

Here are five homes around the $650k mark that highlight the trade-offs buyers are navigating right now, newer builds vs. historic homes, city proximity vs. space, and layout vs. lot size. Same budget, very different outcomes depending on where you’re willing to land.

73914 Whistling Duck Ln (Abita Springs)
4bd / 3ba · 2,447 sqft · $650,000
Custom-built modern farmhouse on 2.04 acres, built in 2021, with a single-story layout and open floor plan. Listing highlights include Fisher & Paykel professional appliances, plantation shutters throughout, a primary suite connected to the laundry room, and an outdoor kitchen with extensive yard space.

1233 N Robertson St (New Orleans – Treme)
3bd / 2.5ba · 1,937 sqft · $649,000
Victorian side-hall home originally built in 1910 and fully gut-renovated in 2014. Features include an open living layout, reclaimed cypress trim, engineered hardwood bedrooms, off-street parking for multiple cars, and a large elevated deck located five blocks from the French Quarter.

2732 Danneel St (New Orleans – Uptown)
4bd / 3.5ba · 2,488 sqft · $650,000
Two-story contemporary home built in 2020 with vaulted ceilings and a second-floor wraparound balcony. The layout includes three ensuite bedrooms, a primary suite with a bonus office/library space, gated and covered off-street parking, and proximity to the St. Charles streetcar line.

164 Glendurgan Way (Madisonville – Arbor Walk)
5bd / 4ba · 3,488 sqft · $650,000
Located in the gated Arbor Walk subdivision, this French Provincial-style home offers high ceilings, nail-down pine hardwood floors throughout, and a whole-home generator. Additional features include custom cypress cabinetry, granite countertops, and professionally landscaped grounds.

3424 Tolmas Dr (Metairie – Cecile Park)
4bd / 3ba · 3,218 sqft · $650,000
Acadian-style home with a full downstairs renovation completed in 2023. The layout includes a guest suite on the first floor, large mudroom and laundry area, Wolf range with pot filler, renovated kitchen, and a covered rear patio overlooking a fenced backyard.

A lot of buyers are surprised how different down-payments look with Conventional looks at this price point, so here are two real scenarios based on current rates, just to give some context if you’re budgeting or planning a move. These numbers are courtesy of Cameron Budzius over at The Mortgage Krewe.

Scenario #1: 3% Down Payment – Conventional Loan
30 Year Fixed Rate Mortgage
$650,000 Sales Price
$630,500 Loan Amount
Interest Rate: 6.125%
APR: 6.345%

Monthly Payment Breakdown:
P&I Payment: $3,830.98
Homeowners Insurance: $542.00
Property Taxes (with Homestead Exemption): $646.79
Mortgage Insurance: $152.37
Total Monthly Payment: $5,172.14

Cash to Close Breakdown:
Closing Costs: $8,456.33
Prepaids and Escrows: $12,560.46
Down Payment: $19,500
Total Cash to Close: $40,516.79

Scenario #2: 20% Down Payment – Conventional Loan
30 Year Fixed Rate Mortgage
$650,000 Sales Price
$520,000 Loan Amount
Interest Rate: 6.125%
APR: 6.187%

Monthly Payment Breakdown:
P&I Payment: $3,159.57
Homeowners Insurance: $542.00
Property Taxes (with Homestead Exemption): $646.79
Mortgage Insurance: $0.00
Total Monthly Payment: $4,348.36

Cash to Close Breakdown:
Closing Costs: $8,456.33
Prepaids and Escrows: $13,049.26
Down Payment: $130,000
Total Cash to Close: $151,505.59