3016 Hamilton St · New Orleans, LA 70118

$288,500

6 bd · 2.0 ba · 2,016 sqft · MultiFamily public records · 16 Days on market

Built 2022 4,499 sqft lot

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Why this score? — see what drove the C 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 +24.8/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Livability +4.0/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

This beautifully renovated half-double is fully occupied and generating income from day one. Featuring 4 spacious bedrooms and 2 full baths, this property blends modern upgrades with timeless charm. The updated kitchen includes a range oven, microwave, and dishwasher, while off-street parking and ample outdoor storage add convenience. A great addition to any investor's portfolio--don't miss this income-producing property today!

Key facts

• Outdoor storage
• Updated kitchen
• Off-street parking

Tags

• RENOVATED HALF-DOUBLE
• UPDATED KITCHEN
• OFF-STREET PARKING
• OUTDOOR STORAGE
• INCOME PRODUCING PROPERTY

Property features AI

Finance

• Financial info: Two-unit property; Unit 3018 current rent $1,800; Unit 3016 current rent $1,500

Exterior

• Parking: Off-street parking with one designated space
• Utilities: Public water; Public sewer
• Home design: Single-story building; Complete renovation in 2022; Raised foundation
• Construction: Vinyl siding; Shingle roof; Raised foundation
• Exterior features: Porch; City lot with rectangular shape; Lot dimensions approximately 30 x 150

Interior

• Bedrooms: One unit with 4 bedrooms (Unit 3018); One unit with 2 bedrooms (Unit 3016)
• Bathrooms: Three full bathrooms total; Unit 3018 has 2 full bathrooms; Unit 3016 has 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Porch

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $288k.

Deal economics

• At list price, monthly cash flow is $540 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $288k).
• Recommended offer: $284k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 4.3% 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; 277 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,128/mo this rent would consume 59% 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 $2k of loan paydown is wiped out by about $9k 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 16 days — a 2% lower offer ($284k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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.

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 $284,172 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.08% ✓
• Cap rate: 8.82%
• Cash-on-cash: 9.01%
• DSCR: 1.40
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $110,880
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8432 34 Forshey St	0.46mi	6/2.0	2,048 (+2%)	18mo	$85,000	$42	61
8518 Forshey St	0.41mi	6/2.0	2,066 (+2%)	20mo	$110,000	$53	60
3321-27 Leonidas St	0.43mi	5/3.0 (-1)	2,088 (+4%)	12mo	$310,000	$148	55
8812 Apple St	0.37mi	6/4.0	2,171 (+8%)	14mo	$226,800	$104	50
8709 Pritchard Pl	0.28mi	5/2.0 (-1)	1,776 (-12%)	19mo	$85,000	$48	46
3702 Monroe St	0.52mi	5/2.0 (-1)	2,232 (+11%)	13mo	$258,300	$116	42
2429 31 Joliet St	0.58mi	6/2.0	1,725 (-14%)	10mo	$95,000	$55	40

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: -6.3%
• Equity multiple: 0.77×
• Total profit: $-18,593
• Equity at exit: $43,016

10-year hold

• IRR: 0.7%
• Equity multiple: 1.04×
• Total profit: $3,482
• Equity at exit: $24,944

Cash invested: $80,780 (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: 277
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $3,128 high
• Mortgage (P&I): −$1,513
• Tax from tax record: −$231 /mo · $2,775/yr
• Insurance: −$120
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$657
• Net cashflow: $540

Break-even live

Break-even rent $2,444

Max offer price $288,500

Occupancy floor 78%

Sensitivity live

Price	-10% $704	-5% $622	+0% $540	+5% $459	+10% $377
Rent	-10% $293	-5% $417	+0% $540	+5% $664	+10% $787
Rate	-1.0pp $686	-0.5pp $614	base $540	+0.5pp $466	+1.0pp $389

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,128
Total (2 units)			$3,128

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: $72,125
• Closing costs: $8,655
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1736 Pine St New Orleans, LA	5.0	2.0	1494	$4,500	$3.01	24d	1	1.43mi

Listing history 11 events

1. 2026-06-21
   days on market $288,500 Active 16 DOM
2. 2026-06-18
   days on market $288,500 Active 13 DOM
3. 2026-06-17
   days on market $288,500 Active 12 DOM
4. 2026-06-16
   days on market $288,500 Active 11 DOM
5. 2026-06-15
   days on market $288,500 Active 10 DOM
6. 2026-06-13
   days on market $288,500 Active 8 DOM
7. 2026-06-10
   days on market $288,500 Active 5 DOM
8. 2026-06-09
   days on market $288,500 Active 4 DOM
9. 2026-06-08
   days on market $288,500 Active 3 DOM
10. 2026-06-07
    remarks 430-char remark
11. 2026-06-07
    listed $288,500 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: $2,775 · $231/mo
• Projected year-2 tax: $2,775 · $231/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 ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,536
• − Mortgage interest: −$16,160
• − Property taxes: −$2,775
• − Insurance: −$2,240
• − Repairs & maintenance: −$3,003
• − Management: −$3,003
• − Depreciation: −$8,393
• Taxable income: $1,962
• Est. tax owed @ 24.0%: −$471
• After-tax cash flow: $6,012/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

+13013.6% since first listed

7 events — show timeline

• 2026-06-05 Listed $288,500 GSREIN
• 2026-06-05 Listed $288,500 AcadianaMLS
• 2026-01-05 Price Changed $288,900 AcadianaMLS
• 2026-01-05 Price Changed $288,900 GSREIN
• 2025-02-14 Listed $289,000 AcadianaMLS
• 2024-12-06 Rental Removed $2,200 GSREIN
• 2024-10-31 Listed for Rent $2,200 GSREIN

Property tax history

+26.9%/yr

Latest (2026): $2,775 · +1.1% YoY. Source: county tax records.