7601 03 Hampson St · New Orleans, LA 70118

$600,000

6 bd · 4.0 ba · 3,483 sqft · MultiFamily public records · 20 Days on market

Built 1956 Est $791k · 24% under

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +15.4/30.0
• ARV discount +15.0/15.0
• DSCR +4.7/10.0
• Livability +4.0/5.0
• 1% rule +3.3/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Located in the heart of Uptown on a gorgeous tree lined street, this charming duplex offers timeless New Orleans character in an unbeatable location. Just one block from the St. Charles Avenue and one block from the vibrant shops, restaurants, and cafés of Maple Street, this property places you in the center of one of the city’s most desirable neighborhoods. Enjoy easy walking access to Audubon Park, Tulane University, and Loyola University. The property features classic architectural details, hardwood floors, spacious living and dining areas, abundant natural light, and inviting front porches perfect for enjoying the charm of Uptown living. The upper unit showcases a stunning

Key facts

• Generous room sizes
• Hardwood floors
• Built 1956

Tags

• CLASSIC ARCHITECTURAL DETAILS
• HARDWOOD FLOORS
• ABUNDANT NATURAL LIGHT
• INVITING FRONT PORCHES
• OVERSIZED ARCHED WINDOW
• GENEROUS ROOM SIZES

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: 2-story property; Raised foundation
• Construction: Stucco and wood siding exterior; Shingle roof
• Exterior features: Enclosed porch; Porch (screened); Fence; Corner lot; City lot; Lot dimensions approximately 30 x 100

Interior

• Bathrooms: 4 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Very good condition

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $600k.

Deal economics

• At list price, monthly cash flow is $160 ($2k/yr) — positive. Per door: $80/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $498k (17.0% below list).
• Recommended offer: $498k (17.0% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 4.4% in New Orleans — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 81/100 on livability (#3 in LA, #1,383 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime C-, employment D.
• Orleans Parish (urban): math 11% / reading 27% proficiency, ranked #69 of 98 in LA (top 70%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 279 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $4,982/mo this rent would consume 94% of the median local household income ($64k/yr) (locally 2237% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $18k of value loss. Plan a longer hold.
• Orleans County population projected at +61% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($591k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 32y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $173k; list at $600k implies a 247% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $498,200 (17.0% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.83% ✗
• Cap rate: 6.75%
• Cash-on-cash: 1.62%
• DSCR: 1.07
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $790,641
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1212 14 Pine St	0.60mi	6/5.0	3,328 (-4%)	13mo	$755,000	$227	50
7718 Hickory St	0.70mi	6/4.0	3,194 (-8%)	5mo	$499,000	$156	49

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.97% rent growth · sell at horizon

5-year hold

• IRR: -16.6%
• Equity multiple: 0.42×
• Total profit: $-97,177
• Equity at exit: $89,462

10-year hold

• IRR: -12.2%
• Equity multiple: 0.34×
• Total profit: $-111,431
• Equity at exit: $51,877

Cash invested: $168,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Louisiana: 90 Strongly Landlord-Friendly · R+12
• County: — inherits STATE
• City: — inherits STATE

5-day notice; no state rent control; civil-law jurisdiction; landlord-favorable.

Methodology + full state rankings →

ZIP-level market 70118

• Rents YoY: 1.0%
• Active inventory: 279
• Price-to-rent: 20.1×

Monthly cashflow live

• Estimated rent: $4,982 high
• Mortgage (P&I): −$3,146
• Tax from tax record: −$313 /mo · $3,757/yr
• Insurance: −$250
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,046
• Net cashflow: $160

Break-even live

Break-even rent $4,780

Max offer price $600,000

Occupancy floor 92%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$4,982
Total (2 units)			$4,982

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $150,000
• Closing costs: $18,000
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7211 Saint Charles Ave New Orleans, LA	5.0	3.0	2800	$2,999	$1.07	43d	1	0.26mi
1519 Pine St New Orleans, LA	5.0	3.0	3000	$4,000	$1.33	23d	1	0.56mi
4 Cromwell Pl New Orleans, LA	5.0	2.0	2600	$7,000	$2.69	43d	1	0.81mi
2808 Calhoun St New Orleans, LA	6.0	4.0	3037	$7,500	$2.47	21d	1	0.83mi
2703 Palmer Ave New Orleans, LA	5.0	2.0	2349	$5,500	$2.34	43d	1	0.87mi
3112 Upperline St New Orleans, LA	5.0	3.5	2800	$3,650	$1.30	23d	1	1.31mi

Listing history 14 events

1. 2026-06-18
   days on market $600,000 Active 20 DOM
2. 2026-06-17
   days on market $600,000 Active 19 DOM
3. 2026-06-16
   days on market $600,000 Active 18 DOM
4. 2026-06-15
   days on market $600,000 Active 17 DOM
5. 2026-06-13
   days on market $600,000 Active 15 DOM
6. 2026-06-10
   days on market $600,000 Active 12 DOM
7. 2026-06-09
   days on market $600,000 Active 11 DOM
8. 2026-06-08
   days on market $600,000 Active 10 DOM
9. 2026-06-07
   days on market $600,000 Active 9 DOM
10. 2026-06-05
    days on market $600,000 Active 6 DOM
11. 2026-06-03
    days on market $600,000 Active 5 DOM
12. 2026-06-02
    days on market $600,000 Active 4 DOM
13. 2026-06-01
    days on market $600,000 Active 3 DOM
14. 2026-05-31
    days on market $600,000 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast LA · Resets to sale price

• Current annual tax: $3,757 · $313/mo
• Projected year-2 tax: $3,757 · $313/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X · 59% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $59,784
• − Mortgage interest: −$33,609
• − Property taxes: −$3,757
• − Insurance: −$3,798
• − Repairs & maintenance: −$4,783
• − Management: −$4,783
• − Depreciation: −$17,455
• Taxable loss: −$8,400
• Est. tax savings @ 24.0%: +$2,016
• After-tax cash flow: $3,933/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Orleans Parish
• NCES district ID: 2201170
• Math proficiency: 11% ▼ -52.00%
• Reading proficiency: 27% ▼ -46.00%
• Median HH income: $37,011
• Composite: 15.78/100
• National rank: #9271
• State rank: #69 of 98 in LA

Livability — New Orleans

• Score: 81/100
• State rank: #3
• US rank: #1383

Category grades

Amenities A+ Commute A+ Cost of living B+ Crime C- Employment D Housing B- Health & safety A+ User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Orleans, LA
• County: Orleans Parish · 338,817 people
• City population: 338,817
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 36,072
• Household income: $63,750
• Rent vs Own: 51.5% rent · 48.5% own
• Severe rent burden: 2237.0

Population outlook (Orleans County) Hauer SSP2

• Today (2025): 513,025 people
• By 2030: 575,781 · +12.2%
• By 2040: 700,174 · +36.5%
• By 2050: 826,541 · +61.1%
• By 2075: 1,123,374 · +119.0%
• By 2100: 1,355,609 · +164.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 47% Black 34% Hispanic / Latino 11% Two or more races 11% Asian 4%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 8% Italian 2% Romanian 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 86% English-only · Spanish 7% French/Haitian/Cajun 2% Other Indo-European 2%

Political lean MEDSL · Orleans

• 2024 margin: Solid D (+67.0) · D 82.2% · R 15.2% · Other 2.7%
• 2008→2024 swing: +6.7pp toward D · 2008: 60.3pp · 2024: 67.0pp
• All cycles: 2024: D+67.0 2020: D+68.2 2016: D+66.2 2012: D+62.5 2008: D+60.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -210.46%
• Current HPI: 282.9629
• Rent YoY: ▲ 0.97%
• Metro: New Orleans-Metairie, LA
• State GDP YoY: ▲ 3.29%
• F500 in state: 10

Industry mix (Fortune 500 HQ in LA)

Industry	F500 HQs	Revenue
▸Telecommunications	2	$23B
▸Utilities	1	$12B
▸Wholesale / Distribution	1	$5B
▸Advertising	1	$2B

Price history

+308.2% since first listed

5 events — show timeline

• 2026-05-29 Listed $600,000 GSREIN
• 1995-08-04 Sold (Public Records) $173,000 Public Records
• 1995-07-28 Sold (MLS) $173,000 GSREIN
• 1994-12-12 Listed $189,000 GSREIN
• 1991-10-29 Sold (Public Records) $147,000 Public Records

Property tax history

-0.9%/yr

Latest (2026): $3,757 · +1.1% YoY. Source: county tax records.