HOT SUBSIDIZED RENTAL IN NEW ORLEANS ( not section 8 )

The property is subsidized by a government program called Unity which pays a portion of the rent for handicapped persons. The home is outfitted for handicapped persons (has a wheelchair elevator) and is also raised as to prevent flooding. Unity has high standards for it’s residents so this home is in good condition. The house is also outfitted with solar panels.

Monthly rent is $1,150 with $750 of that is paid by Unity. The program coordinator told me that there are 30 people on the waiting list for houses through this program. The current tenants have a lease that is expiring on September 30th, but it could be extended if desired.

Comps: 

5034 Dreux Ave,

New Orleans, LA 70126

3 beds 2 baths 1,290 sqft

Sold 6/3/16

$135,000

2424 Pressburg St,

New Orleans, LA 70122

3 beds 2 baths 1,295 sqft

Sold 5/31/16

$175,000

5514 Wingate Dr,

New Orleans, LA 70122

3 beds 2 baths 1,351 sqft

Sold 6/17/16

$149,000