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1432 Magazine St
New Orleans, LA

1432 Magazine St

$955,000
3 bd • 2 ba • 4,801 sf

This analysis was generated by artificial intelligence on 2/11/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

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AI Property Analysis

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List Price

$955,000

Price/Sq.Ft

$199

Year Built

1867

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• Prime location in the Lower Garden District: The property is situated on a corner lot in the sought-after Lower Garden District, known for its historic architecture, vibrant culture, and proximity to amenities. This location enhances the property's value and appeal. Comparable properties in the Lower Garden District command premium prices, reflecting the area's desirability. • Large square footage: The townhouse offers 4,801 square feet of living space, providing ample room for a variety of uses. This is significantly larger than the median home size in New Orleans, which is around 1,500 square feet. • Historic charm and character: Built circa 1867, the home boasts original architectural details such as soaring ceilings, medallions, intricate molding, pocket doors, and wood floors. These features add to the property's unique character and appeal. • Outdoor space: The property includes a peaceful pool area and expansive side yard, providing opportunities for outdoor relaxation and recreation. Outdoor space is a valuable amenity in urban areas like New Orleans.

The Bad

• Significant renovation required: The property is described as a 'historic renovator's dream,' implying that it needs substantial work. This could involve costly repairs to structural elements, outdated systems, and cosmetic finishes. A detailed inspection is essential to assess the full scope of the renovation. • High climate risks: The property faces severe flood risk (7/10), extreme heat risk (10/10), and extreme wind risk (10/10). These risks can lead to property damage, increased insurance costs, and potential safety concerns. Buyers should carefully consider the potential impact of these risks on their investment. • Limited information on utilities and systems: The listing provides no details about the property's utilities and systems, such as HVAC, electrical, and plumbing. This lack of information makes it difficult to assess the condition and functionality of these essential components. • No room details: The absence of room details makes it challenging to evaluate the layout and suitability of the property for different uses. Potential buyers will need to conduct a site visit to fully assess the interior space.

The Ugly

• High estimated insurance costs: The estimated annual insurance cost of $3,438 is substantial, reflecting the property's vulnerability to flood and wind damage. This expense will significantly impact the overall cost of ownership. This is significantly higher than the national average of $1,600 per year. • Potential for hidden issues: As a historic home, the property may have hidden structural problems, such as foundation issues, termite damage, or asbestos. These issues can be costly to repair and may not be immediately apparent. • Lack of updated systems: Given the age of the property, it is likely that the electrical, plumbing, and HVAC systems are outdated and inefficient. Upgrading these systems can be expensive but is necessary to ensure safety and comfort. • High heat risk: The Extreme (10/10) heat risk indicates that the property is subject to prolonged periods of high temperatures, which can strain the HVAC system and increase energy costs. This could lead to very high utility bills during the summer months.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

• Experienced renovators: The property's description highlights its potential as a 'historic renovator's dream,' suggesting it's well-suited for individuals with a passion for restoration and a willingness to undertake significant projects. The property's existing historical features and prime location in the Lower Garden District offer the opportunity to create a unique and valuable residence. • Buyers seeking spacious properties: With 4,801 square feet of living space, the townhouse offers ample room for a variety of uses, whether for a large family, entertaining guests, or pursuing hobbies. The high ceilings on both floors enhance the sense of spaciousness and create an open and airy atmosphere. • Buyers interested in outdoor living: The property features a peaceful pool area and expansive side yard, providing opportunities for relaxation, recreation, and gardening. The presence of off-street parking adds convenience and enhances the overall appeal of the property. • Buyers comfortable with older homes: Built in 1867, this townhouse has historical charm and unique architectural details, such as original medallions, intricate molding, and elegant pocket doors. Buyers who appreciate the character and craftsmanship of older homes may find this property particularly attractive.

Not For

• Buyers seeking move-in-ready homes: The property is described as a 'historic renovator's dream,' suggesting it requires significant restoration or renovation work. Buyers looking for a home that is immediately habitable may not find this property suitable. • Buyers with limited budgets: Renovating a historic home can be expensive, with costs potentially exceeding those of renovating a more modern property. Buyers with limited budgets may struggle to afford the necessary repairs and upgrades. • Buyers sensitive to climate risks: The property faces significant climate risks, including severe flood risk (7/10), extreme heat risk (10/10), and extreme wind risk (10/10). Buyers concerned about these risks may prefer a property in a less vulnerable location. • Buyers prioritizing modern amenities: While the property boasts historic charm and character, it may lack some modern amenities that are common in newer homes. Buyers who prioritize modern conveniences may not find this property appealing.
Demographics
Area Median Income

$65,778

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Risk Assessment

Climate Risks

heatEXTREME

7 extreme heat days per year

98th percentile: 108°F

windEXTREME

Insurance: Required

floodSEVERE

FEMA Zone: X

Insurance: Required

airMODERATE

3 bad air quality days per year

fireMINIMAL

Insurance: Optional

Risk Analysis

• High flood risk (7/10): The property's location in FEMA Zone X indicates a high risk of flooding, which can lead to significant property damage and financial losses. Flood insurance is critical but can be expensive. Consider potential mitigation measures, such as elevating the property or installing flood barriers. • Extreme heat risk (10/10): New Orleans experiences hot and humid summers, which can strain the HVAC system and increase energy costs. Assess the efficiency of the existing HVAC system and consider upgrading to a more energy-efficient model. • Extreme wind risk (10/10): The property is vulnerable to strong winds during hurricanes and other severe weather events. Ensure that the roof, windows, and doors are properly secured and consider investing in wind-resistant upgrades. • Aging infrastructure: As a historic home built in 1867, the property may have outdated electrical, plumbing, and HVAC systems that require repair or replacement. A thorough inspection is essential to identify any potential issues. • Historic preservation restrictions: Renovations to the property may be subject to regulations imposed by the Historic District Landmarks Commission. Understand these restrictions before undertaking any major projects.
Insurance
Annual Cost

$3,438

$287 per month

Financials

Monthly Costs

Price History

Property Taxes

$7,571
2022 Tax Assessment
5.3%from previous year
Assessed Value$52,890
Tax Rate14.31%

Location & Comparables

Subject Property
Comparable Sales
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