What Are the Best Investment Properties for Sale in New Orleans Right Now?
Five properties, Five price points, Five different investor strategies
Every Wednesday our brokerage sits down and does something most agents don't — we argue about deals. Each agent brings what they think is the best property currently on the MLS, we compare the numbers, debate the angles, and vote on a winner. This week we had four properties across four completely different price points and investor strategies.
Here's what made the cut:
🏠 2933 Pine St, New Orleans, LA 70125 | $615,000
4-plex · Orleans Parish · Fontainebleau · 8bd/6ba · 3,908 sqft · Built 1970 · Across from Dominican High School · All 4 units rented · $5,500/month gross rent · Central HVAC · Hardwood floors · 500+ days on market · FHA assumable at 3.5% · Seller financing available · Agent/Owner listing
Agent’s take: The financing is the story here. Assuming an existing 3.5% FHA loan or going bond for deed are both on the table, either path dramatically changes the monthly debt service compared to today’s rates. 500+ days on market should mean the seller is motivated and there’s room to negotiate below ask.
🏘 4635 Allen St, New Orleans, LA 70122 | $279,000
4-plex · Orleans Parish · 4 units · 6bd total · 3,707 sqft · Built 1965 · Corner lot · Brick veneer · Roof replaced within 5 years · 2 units currently rented · $1,600/month current income · Main unit vacant (3bd/2.5ba)
Agent’s take: The two rented units alone nearly cover a 5% down mortgage (~$2,400/month). Once the main unit is occupied at market rent, this flips cash flow positive. Entry-level multifamily with an owner-occupant path for someone who wants their tenants paying most of the note.
🏠 7516-18 Willow St, New Orleans, LA 70118 | $375,000
Double · Orleans Parish · Uptown/Carrollton · 4bd total · 3ba · 1,825 sqft · $205/sqft · Built 1915 · Raised foundation · 2020 roof · Central HVAC both units · Separate meters · In-unit laundry · Large backyard · Half block from Willow Charter School ·
Agent’s take: At $205/sqft it’s the lowest price per square foot among move-in ready doubles in this corridor. The only listing priced lower is in poor condition — different product entirely. New HVACs and a 6-year-old roof mean the two biggest CapEx items are already off the table. Very Good condition at this price point in Uptown is rare. School proximity keeps rental demand consistent. Agent is related to the seller.
🏡 3740 Rue Nichole, New Orleans, LA 70131 | $234,000
Single family · Orleans Parish · Bocage · 4bd/2ba · 2,376 sqft · Built 1977 · Corner lot · Two-car garage · Fenced courtyard · X flood zone · As-is condition · Owner will not make repairs
Agent’s take: Comparable homes in Bocage are selling around $348,000. At $234,000 you’re potentially buying $114,000 below market value right out of the gate. Priced to reflect condition — this is a flip or value-add play for a buyer who can see past the cosmetics.
🏢 321-325 S Bengal Rd, River Ridge, LA 70123 | $1,350,000
16 units · Jefferson Parish · River Ridge · 26 beds · 16 baths · 6,429 sqft · Built 1980 · Cinder block and siding · Metal roof · 15/16 units occupied · $16,217/month current gross rent · $250,000+ in renovations completed past year · All voucher tenants · Agent/Owner listing
Agent’s take: The listing calls it a 9-cap on actuals. My numbers land closer to 8, which is still strong for this submarket. The real upside is the voucher structure, all 10 two-bedroom units are currently on 1-bedroom vouchers. Converting to 2-bedroom vouchers is a clear, documented path to push gross rent past $18,000/month without touching a single unit.
Every investor reads these differently. Someone in a 1031 exchange looks at Bengal differently than a first-time buyer eyeing Allen with house-hacking in mind.
Would you like to be in the know on deals before they hit the market?