Have you considered buying investment property on the West Bank?
As the home sales market has slowed, there is still a demand for rental properties across the West Bank of New Orleans.
Since 9/1/2007, there have been 84 units rented on the West Bank, including single family homes, condos, townhouses, doubles and apartments. Note: These are only rental units listed in the MLS. Private rentals are not included. Of the 84 units leased in the last 90+ days, 68 units (81%) are commanding rents of $1,000 per month or more.
A rental property can be a good investment, even in a slow real estate market. While West Bank homes may not be appreciating at the same rapid pace as in the past, buying a multi-family property to live in one unit and renting the remaining unit(s) is a good way to offset some of your monthly mortgage payment.
New Orleans West Bank Multi-Family Properties for Sale
| Area | # For Sale | Low Price | High Price |
| Algiers | 41 | $50,000 | $1,800,000 |
| Belle Chasse | 3 | $259,000 | $550,000 |
| Gretna | 8 | $64,900 | $350,000 |
| Terrytown/Gretna | 5 | $224,900 | $1,800,000 |
| Harvey | 14 | $119,500 | $1,800,000 |
| Marrero | 11 | $129,000 | $1,650,000 |
| Westwego | 4 | $149,900 | $1,100,000 |
If you need more information on purchasing a home or an investment property on the West Bank, please contact Lisa Heindel, Realtor®.
Copyright 2007. Lisa Heindel, All rights reserved.
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