Real Estate Investment Opportunities – New Orleans West Bank
December 3, 2007 by lisa
Filed under Blog, For Buyers, Real Estate Talk
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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