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We report the discovery of 1RXH J082623.6-505741, a 10.4 hr orbital periodcompact binary. Modeling extensive optical photometry and spectroscopy revealsa $\sim 0.4 M_{\odot}$ K-type secondary transferring mass through a low-stateaccretion disk to a non-magnetic $\sim 0.8 M_{\odot}$ white dwarf. Thesecondary is overluminous for its mass and dominates the optical spectra at allepochs, and must be evolved to fill its Roche Lobe at this orbital period. TheX-ray luminosity $L_X \sim 1$-$2 \times 10^{32}$ erg s$^{-1}$ derived from bothnew XMM-Newton and archival observations, although high compared to most CVs,still only requires a modest accretion rate onto the white dwarf of $\dot{M}\sim 3 \times 10^{-11}$ to $3 \times 10^{-10} M_{\odot}$ yr$^{-1}$, lower thanexpected for a cataclysmic variable with an evolved secondary. No dwarf novaoutbursts have yet been observed from the system, consistent with the lowderived mass transfer rate. Several other cataclysmic variables with similarorbital periods also show unexpectedly low mass transfer rates, even thoughselection effects disfavor the discovery of binaries with these properties.This suggests the abundance and evolutionary state of long-period, low masstransfer rate cataclysmic variables is worthy of additional attention.

1RXH J082623.6-505741: a new long-period cataclysmic variable with an evolved donor and a low mass transfer rate