FULLY RENOVATED — 4 BED / 2.5 BATH — 2,748 SF — NEW ORLEANS 70126 — CASH/INVESTOR OR RETAIL BUYER — $249,900

• Address: 4327 Ray Ave, New Orleans, LA 70126
• Property Type: Single Family (2-Story, Slab Foundation)
• Specs: 4 Beds | 2.5 Baths (Public records indicate 3/2.5; Listing indicates 4/2.5)
• Square Footage: 2,748 sqft
• Listed Price: $239,000 (Price dropped from $249,900 on 08/04/2025) Redfin
• Seller’s ARV: $320,000
• Year Built: 1965/1967 Realtor.com

• Market Hotness Score: 72/100
  • New Orleans is currently seeing 25% of homes accept offers within 2 weeks Redfin.
  • Inventory in the 70126 zip code remains high, but renovated properties at lower price points move faster than distressed shells.

Market Pulse

The 70126 area (New Orleans East) is a high-density residential zone characterized by mid-century ranch and two-story homes. While the market is active, it is highly sensitive to flood insurance costs and foundation issues. The subject property is priced at ~$87/sqft, which is significantly higher than the $56-$60/sqft seen in recent nearby sales of larger homes Compass.

• ARV Range: $260,000 – $320,000
  • Midpoint: $290,000
  • Analysis: While the seller claims $320k, the sale of 7151 Thornley (larger sqft) at $180k suggests a lower ceiling unless the subject property features premium finishes far exceeding the neighborhood standard.
• As-Is Range: $180,000 – $239,000
  • Midpoint: $209,500
  • Analysis: The current list price of $239k is at the top of the "as-is" market for a renovated home in this specific block.

The property is marketed as "Fully Renovated" with a new roof and flooring Redfin.

• Bucket: Light / Punch List
• Estimated Cost: $7,500 – $15,000
• Line Items:
  • Roof: $0 (Reported New)
  • HVAC/Plumbing/Electrical: $2,500 (Inspection/Minor tuning)
  • Foundation: $0 (Assumed stable, but slab foundation in NOLA requires inspection)
  • Kitchen/Baths: $3,000 (Hardware upgrades/Punch list)
  • Landscaping: $2,000 (Curb appeal)
  • Misc/Contingency: $5,000

• Estimated Monthly Rent: $1,900 – $2,300
• Gross Yield: ~9.5% (at $239k purchase)
• Analysis: The property may perform better as a long-term rental or Section 8 placement given the high bedroom count, though high insurance and taxes in Orleans Parish will compress net cash flow.

• Assessed Value (Market): $165,900 Zillow
• Annual Tax: $2,214 (2026 estimate) Redfin
• Liens: Not confirmed.
• Distress: No active foreclosure or tax sale notices found. The property was previously sold in 2022 for $80,000 UnlistedHomes.
• Flood Zone: Not confirmed; however, Orleans Parish has 7,625 repetitive loss properties. Likely Zone AE or Zone X Fludzone.