Property Description:
New Orleans Double in an X-Flood Zone
Located just two miles from the historic French Quarter, 2013-15 Congress St. is a shotgun-style double that presents a strong value-add opportunity for investors seeking both rental income and potential equity growth in an X-flood zone. The property features 4 bedrooms and 2 bathrooms (2 bedrooms and 1 bathroom in each unit), totaling approximately 1,800 square feet of living space.
One unit is turnkey and ready for occupancy, while the second unit would benefit from cosmetic renovations, including flooring in one bedroom and general interior updates. The property also needs a new roof, making it an ideal candidate for an investor looking to complete strategic improvements and increase overall value. A detached shed includes laundry hookups, providing added convenience for tenants.
A recent Abbott Price property analysis indicates an estimated After Repair Value (ARV) of $240,000, with a potential rental income of $2,800 per month ($1,400/month per unit) after cosmetic upgrades and renovations.
This property is conveniently located near the Bywater, Downtown New Orleans, and the French Quarter, as well as major employment hubs such as the University Medical Center. It offers easy access to some of the city’s most well-known neighborhoods and benefits from ongoing investment in the surrounding area.
Property Highlights
• Estimated ARV: $240,000
• Potential post-renovation rental income: $2,800/month ($1,400 per unit)
• X-flood zone
• 4 bedrooms and 2 bathrooms (2-bed/1-bath each side)
• Approximately 1,800 square feet
• One unit is turnkey
• Second unit requires cosmetic renovations, including flooring in one bedroom
• New roof needed
• Detached shed with laundry hookups