6970 Bunker Hill Rd · New Orleans, LA 70127

$16,000

4 bd · 3.0 ba · 2,160 sqft · MultiFamily public records · 1232 Days on market

Built 1970 6,899 sqft lot Est $15k · 8% over

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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 +15.0/30.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• ARV discount +3.9/15.0
• Rent growth +2.5/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Nice cleared lot ready for that new build that once housed a duplex, located in an area of many multi-family dwellings and just waiting for your new project.

Key facts

• 6,899 sq ft lot
• Listed 1232 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Property zoned RES; Current use listed as Multi-Family and Single Family Residential
• Construction: Built year not provided; Construction materials not provided; Roof and foundation details not provided
• Exterior features: City lot; Frontage approximately 58 feet; Lot dimensions approximately 58 x 117/121

Interior

• Interior features: Irregular lot shape noted in property description

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath multifamily listed at $16k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $16k).
• Recommended offer: $14k (12.0% below list) — sets the bar for market timing.
• Cap rate 150.3% 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: 130 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,564/mo this rent would consume 75% of the median local household income ($41k/yr) (locally 2030% 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 $111 of loan paydown is wiped out by about $480 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 1232 days — a 12% lower offer ($14k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 24y ago; this cycle's ask has dropped $4k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe 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 $14,080 (12.0% below list)

Questions for the listing agent

1. It's been on market 1232 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 16.02% ✓
• Cap rate: 150.27%
• Cash-on-cash: 514.19%
• DSCR: 23.88
• GRM: 0.5

CMA / ARV

• ARV (median comp): $14,807
• List price: $16,000
• Delta: 8.06%
• Verdict: FAIR
• Comps: 5 within 2.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7120 22 Bunker Hill Rd	0.12mi	5/3.0 (+1)	2,450 (+13%)	6mo	$212,500	$87	62
7100 02 Bunker Hill Rd	0.10mi	5/3.0 (+1)	2,450 (+13%)	8mo	$225,000	$92	61
8830 32 Bunker Hill Rd	0.09mi	4/3.0	2,400 (+11%)	23mo	$165,000	$69	58
8821-23 Dinkins St	0.67mi	5/3.0 (+1)	2,166 (+0%)	7mo	$195,000	$90	57
8631 33 Dinkins St	0.68mi	5/3.0 (+1)	2,010 (-7%)	3mo	$160,000	$80	49
8712 Dinkins St	0.64mi	5/3.0 (+1)	2,150 (-0%)	20mo	$152,000	$71	47
8520 22 Bill St	0.71mi	5/3.0 (+1)	2,060 (-5%)	11mo	$180,000	$87	45
8901 03 Dinkins St	0.68mi	5/2.0 (+1)	2,165 (+0%)	18mo	$225,000	$104	44
8601 Dinkins St	0.69mi	5/3.0 (+1)	2,303 (+7%)	12mo	$160,000	$69	42
8921 23 Gervais St	0.61mi	5/3.0 (+1)	2,373 (+10%)	14mo	$194,000	$82	38
8018 20 Gus St	0.75mi	5/3.0 (+1)	1,992 (-8%)	18mo	$179,000	$90	32

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 26.78×
• Total profit: $115,514
• Equity at exit: $2,386

10-year hold

• IRR: —
• Equity multiple: 57.45×
• Total profit: $252,881
• Equity at exit: $1,383

Cash invested: $4,480 (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 70127

• Home prices YoY: -29.2%
• Active inventory: 130
• Price-to-rent: 1.0×

Monthly cashflow live

• Estimated rent: $2,564 high
• Mortgage (P&I): −$84
• Tax from tax record: −$15 /mo · $184/yr
• Insurance: −$7
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$538
• Net cashflow: $1,853

Break-even live

Break-even rent $218

Max offer price $16,000

Occupancy floor 23%

Sensitivity live

Price	-10% $1,862	-5% $1,858	+0% $1,853	+5% $1,849	+10% $1,844
Rent	-10% $1,651	-5% $1,752	+0% $1,853	+5% $1,954	+10% $2,056
Rate	-1.0pp $1,861	-0.5pp $1,857	base $1,853	+0.5pp $1,849	+1.0pp $1,845

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,564
Total (2 units)			$2,564

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: $4,000
• Closing costs: $480
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6910 Bunker Hill Rd New Orleans, LA	3.0	2.5	1785	$1,400	$0.78	21d	1	0.05mi
9020 Bunker Hill Rd New Orleans, LA	3.0	1.5	1400	$1,400	$1.00	25d	1	0.18mi
7063 Boston Dr New Orleans, LA	4.0	2.5	1750	$1,900	$1.09	17d	1	0.18mi
9022 Bunker Hill Rd New Orleans, LA	3.0	1.5	1400	$1,400	$1.00	25d	1	0.19mi
9040 Bunker Hill Rd New Orleans, LA	3.0	1.5	1400	$1,450	$1.04	17d	1	0.20mi
9042 Bunker Hill Rd New Orleans, LA	3.0	1.5	1400	$1,450	$1.04	17d	1	0.21mi
6951 Salem Dr New Orleans, LA	3.0	2.5	1900	$1,875	$0.99	25d	1	0.22mi
6972 Bundy Rd New Orleans, LA	3.0	2.5	2048	$1,500	$0.73	25d	1	0.24mi
7230 Yorktown Dr New Orleans, LA	3.0	2.0	1550	$1,600	$1.03	17d	1	0.26mi
7230 Yorktown Dr New Orleans, LA	3.0	2.0	1550	$1,600	$1.03	25d	1	0.26mi
7202 Salem Dr New Orleans, LA	3.0	2.5	1995	$1,750	$0.88	25d	1	0.29mi
7201 Salem Dr New Orleans, LA	3.0	2.5	1764	$1,650	$0.94	25d	1	0.30mi
7401 Scottsdale Dr New Orleans, LA	3.0	2.5	2100	$2,000	$0.95	25d	1	0.43mi
8936 Curran Blvd New Orleans, LA	3.0	2.0	2050	$1,575	$0.77	22d	1	0.60mi
7608 Laine Ave New Orleans, LA	3.0	2.5	2060	$1,950	$0.95	25d	1	0.65mi
5611 Rickert Dr New Orleans, LA	3.0	2.5	2155	$2,900	$1.35	45d	1	0.83mi
7500 Symmes Ave New Orleans, LA	4.0	2.0	1400	$2,100	$1.50	25d	1	0.89mi
10951 Roger Dr Unit B New Orleans, LA	3.0	2.5	2048	$1,850	$0.90	25d	1	1.34mi
6628 Harbourview Dr New Orleans, LA	3.0	2.5	1520	$1,700	$1.12	4d	1	1.49mi

Listing history 14 events

1. 2026-06-08
   statusdays on market $16,000 Pending 1232 DOM

   Show marketing remark (157 chars)

   Nice cleared lot ready for that new build that once housed a duplex, located in an area of many multi-family dwellings and just waiting for your new project.

2. 2026-06-07
   days on market $16,000 Active 1231 DOM
3. 2026-06-05
   days on market $16,000 Active 1228 DOM
4. 2026-06-03
   days on market $16,000 Active 1227 DOM
5. 2026-06-02
   days on market $16,000 Active 1226 DOM
6. 2026-06-01
   days on market $16,000 Active 1225 DOM
7. 2026-05-31
   days on market $16,000 Active 1224 DOM
8. 2024-01-18
   price $16,000
9. 2023-11-10
   price $18,000
10. 2023-01-23
    listed $20,000 Active

    Show marketing remark (157 chars)

    Nice cleared lot ready for that new build that once housed a duplex, located in an area of many multi-family dwellings and just waiting for your new project.

11. 2023-01-23
    listed $16,000 Active 157-char remark

    Show marketing remark (157 chars)

    Nice cleared lot ready for that new build that once housed a duplex, located in an area of many multi-family dwellings and just waiting for your new project.

12. 2002-02-27
    listed $75,000
13. 2002-02-27
    listed $75,000
14. 1979-11-30
    soldstatus $67,000

ⓘ 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: $184 · $15/mo
• Projected year-2 tax: $184 · $15/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 8/10 Severe FEMA zone X (shaded) · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,768
• − Mortgage interest: −$896
• − Property taxes: −$184
• − Insurance: −$878
• − Repairs & maintenance: −$2,461
• − Management: −$2,461
• − Depreciation: −$465
• Taxable income: $23,422
• Est. tax owed @ 24.0%: −$5,621
• After-tax cash flow: $16,617/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): 23,107
• Household income: $40,765
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2030.0

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: Predominantly Black (91%)
• Race & ethnicity: Black 91% Hispanic / Latino 4% Two or more races 4% White 2%
• Common ancestry: Lithuanian 1% Hispanic 1%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 96% English-only · Spanish 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: ▼ -72.43%
• Current HPI: 175.4465
• Rent YoY: —
• 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

-76.1% since first listed

10 events — show timeline

• 2026-06-08 Pending — AcadianaMLS
• 2026-06-08 Pending — GSREIN
• 2024-01-18 Price Changed $16,000 GSREIN
• 2023-11-10 Price Changed $18,000 GSREIN
• 2023-01-23 Listed $20,000 GSREIN
• 2023-01-23 Listed $16,000 AcadianaMLS
• 2002-04-25 Sold (MLS) $69,000 GSREIN
• 2002-02-27 Listed $75,000 GSREIN
• 2002-02-27 Listed $75,000 AcadianaMLS
• 1979-11-30 Sold (Public Records) $67,000 Public Records

Property tax history

-5.8%/yr

Latest (2026): $184 · +1.1% YoY. Source: county tax records.