7016-18 Fig St · New Orleans, LA 70125

$199,000

4 bd · 2.0 ba · 1,752 sqft · MultiFamily public records · 153 Days on market

Built 1920 4,356 sqft lot $114/sqft · 42% below area Est $346k · 42% under

---

Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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: 2 units. confirmed

Listing remarks MLS

Shot-gun style Double/Duplex, side by side, renovated by previous owner 2021. Great Investment opportunity to add to your rental portfolio as an Owner occupant living on one side and collect rent to help with the mortgage or as an investor, renting both sides. Unit 7016 features open living room and kitchen, with granite counter, SS dishwasher and vent, refrigerator, 1 full bath, 2 bedrooms and inside laundry area. 7018 side features open living room and kitchen with granite counter, ss dishwasher, stove, vent and refrigerator, inside laundry across from 1 full bath, 3 bedroom with the last one independent of the other two. Share the large rear which measures 30 x 151 according to tax records. Don't let this one get away, call for your appointment today.

Key facts

• Inside laundry area
• Granite counter
• Large rear

Tags

• RENOVATED BY PREVIOUS OWNER
• OPEN LIVING ROOM AND KITCHEN
• GRANITE COUNTER
• INSIDE LAUNDRY AREA
• LARGE REAR

What this means for you Summary

Snapshot

• This is a 1×2bd/1ba + 1×3bd/1ba units multifamily listed at $199k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $533/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• Recommended offer: $175k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.1% 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; 217 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,239/mo this rent would consume 64% of the median local household income ($61k/yr) (locally 1270% 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 $1k of loan paydown is wiped out by about $6k 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 + 0.7% rent growth), your $56k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 153 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y ago; this cycle's ask has dropped $51k (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; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• 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 $175,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 153 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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.
9. 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.
10. 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: 1.63% ✓
• Cap rate: 13.12%
• Cash-on-cash: 24.37%
• DSCR: 2.08
• GRM: 5.1

CMA / ARV

• ARV (median comp): $345,922
• List price: $199,000
• Delta: -39.58%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3229 31 Vincennes Pl	0.33mi	4/2.0	1,620 (-8%)	1mo	$100,000	$62	71
2513 15 Dante St	0.64mi	4/2.0	1,775 (+1%)	11mo	$234,600	$132	58
4112 14 Thalia St	0.66mi	4/2.0	1,700 (-3%)	8mo	$235,000	$138	58
8335 37 S Claiborne Ave	0.74mi	4/2.0	1,809 (+3%)	4mo	$175,000	$97	56
7709 11 Sycamore St	0.56mi	4/2.0	1,887 (+8%)	14mo	$445,000	$236	49
7700 02 Spruce St	0.71mi	4/2.0	1,900 (+8%)	11mo	$260,000	$137	44
6208 S Rocheblave St	0.55mi	4/4.0	2,000 (+14%)	0mo	$402,500	$201	42
6204 S Rocheblave St	0.55mi	4/4.0	2,000 (+14%)	0mo	$402,500	$201	42
1401 03 S Dupre St	0.61mi	4/3.0	1,953 (+12%)	19mo	$205,000	$105	33
7728 30 Spruce St	0.73mi	4/2.0	1,568 (-10%)	21mo	$188,900	$120	31
2001 03 Adams St	0.69mi	4/2.0	2,005 (+14%)	24mo	$245,000	$122	24
8200 02 Edinburgh St	0.66mi	4/4.0	1,534 (-12%)	24mo	$199,000	$130	21

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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: 13.2%
• Equity multiple: 1.51×
• Total profit: $28,473
• Equity at exit: $29,672

10-year hold

• IRR: 20.2%
• Equity multiple: 2.51×
• Total profit: $84,269
• Equity at exit: $17,206

Cash invested: $55,720 (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 70125

• Home prices YoY: -16.3%
• Rents YoY: 0.7%
• Active inventory: 217
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $3,239 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$301 /mo · $3,610/yr
• Insurance: −$83
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$680
• Net cashflow: $1,065

Break-even live

Break-even rent $1,891

Max offer price $199,000

Occupancy floor 62%

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,565
1× unit	3	1	$1,675
Total (2 units)			$3,239

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4117 State Street Dr New Orleans, LA	3.0	1.0	1678	$1,550	$0.92	11d	1	0.20mi
7922 Colapissa St New Orleans, LA	4.0	2.0	1848	$2,400	$1.30	10d	1	0.33mi
1603 S Rendon St New Orleans, LA	3.0	2.0	1329	$1,900	$1.43	20d	1	0.36mi
7933 Belfast St Unit Upper New Orleans, LA	3.0	2.0	1500	$2,400	$1.60	23d	1	0.37mi
2338 Audubon St New Orleans, LA	3.0	2.0	1935	$2,000	$1.03	3d	1	0.38mi
4400 Elba St New Orleans, LA	3.0	2.0	1600	$1,875	$1.17	23d	1	0.42mi
4403 Elba St New Orleans, LA	3.0	2.0	1400	$1,800	$1.29	3d	1	0.42mi
4401 Elba St New Orleans, LA	3.0	2.0	1400	$1,850	$1.32	23d	1	0.42mi
2308 Audubon St New Orleans, LA	4.0	1.5	1480	$3,050	$2.06	15d	1	0.42mi
3737 Nashville Ave New Orleans, LA	4.0	2.0	2000	$3,400	$1.70	21d	1	0.43mi
2117 S Lopez St New Orleans, LA	5.0	2.0	1920	$2,000	$1.04	23d	1	0.47mi
2203 Broadway St New Orleans, LA	3.0	2.0	1491	$3,000	$2.01	21d	1	0.51mi
2201 Broadway St Unit 2 New Orleans, LA	4.0	2.0	2000	$3,000	$1.50	43d	1	0.52mi
7325 Sycamore St New Orleans, LA	4.0	3.0	2500	$2,350	$0.94	23d	1	0.52mi
2201 Burdette St New Orleans, LA	3.0	1.5	1800	$2,695	$1.50	17d	1	0.56mi
2308 Short St New Orleans, LA	3.0	2.0	1600	$2,800	$1.75	3d	1	0.58mi
7909 Sycamore St New Orleans, LA	3.0	2.0	2000	$2,400	$1.20	2d	1	0.60mi
2116 Burdette St New Orleans, LA	3.0	1.0	1700	$1,975	$1.16	3d	1	0.61mi
7902 Sycamore St New Orleans, LA	4.0	2.0	1991	$3,200	$1.61	43d	1	0.62mi
3180 State Street Dr New Orleans, LA	3.0	2.0	1600	$1,900	$1.19	10d	1	0.62mi
2231 S Carrollton Ave Unit D New Orleans, LA	3.0	2.0	1600	$2,495	$1.56	23d	1	0.62mi
4120 Erato St New Orleans, LA	3.0	2.0	2250	$1,750	$0.78	23d	1	0.63mi
2010 Broadway St New Orleans, LA	4.0	2.0	1600	$2,400	$1.50	23d	1	0.64mi
2014 Lowerline St New Orleans, LA	3.0	1.5	1600	$2,850	$1.78	14d	1	0.65mi
3636 Upperline St New Orleans, LA	3.0	1.0	1600	$1,975	$1.23	23d	1	0.66mi
2101 S Carrollton Ave New Orleans, LA	4.0	2.0	1800	$2,400	$1.33	23d	1	0.71mi
2102 S Carrollton Ave New Orleans, LA	3.0	2.0	1800	$2,250	$1.25	11d	1	0.74mi
2102 S Carrollton Ave Unit NA New Orleans, LA	3.0	2.0	1800	$2,250	$1.25	10d	1	0.74mi
4603 S Miro St New Orleans, LA	3.0	2.0	1650	$1,650	$1.00	23d	1	0.76mi
7616 Cohn St Unit A New Orleans, LA	3.0	2.5	1492	$3,300	$2.21	17d	1	0.76mi
2251 Cambronne St Unit A New Orleans, LA	3.0	1.5	1945	$2,495	$1.28	23d	1	0.76mi
8502 Edinburgh St New Orleans, LA	3.0	2.0	1456	$1,800	$1.24	3d	1	0.78mi
6326 S Johnson St Unit 1 New Orleans, LA	5.0	2.0	2013	$3,950	$1.96	43d	1	0.79mi
1736 Pine St New Orleans, LA	5.0	2.0	1494	$4,500	$3.01	23d	1	0.81mi
2305 Joliet St New Orleans, LA	3.0	2.0	1451	$2,500	$1.72	43d	1	0.83mi
1700 Broadway St New Orleans, LA	4.0	2.0	1500	$3,600	$2.40	17d	1	0.85mi
5417 S Johnson St New Orleans, LA	3.0	3.0	1739	$2,900	$1.67	17d	1	0.86mi
2838 Palmer Ave New Orleans, LA	3.0	1.5	1500	$2,000	$1.33	17d	1	0.86mi
2834 Palmer Ave New Orleans, LA	3.0	2.0	1533	$2,800	$1.83	17d	1	0.87mi
2836 Palmer Ave New Orleans, LA	3.0	2.0	1376	$2,500	$1.82	43d	1	0.87mi

Listing history 23 events

1. 2026-06-19
   price $199,000 Active 153 DOM
2. 2026-06-18
   days on market $209,000 Active 153 DOM
3. 2026-06-17
   days on market $209,000 Active 152 DOM
4. 2026-06-16
   days on market $209,000 Active 151 DOM
5. 2026-06-15
   days on market $209,000 Active 150 DOM
6. 2026-06-13
   days on market $209,000 Active 148 DOM
7. 2026-06-10
   days on market $209,000 Active 145 DOM
8. 2026-06-09
   days on market $209,000 Active 144 DOM
9. 2026-06-08
   days on market $209,000 Active 143 DOM
10. 2026-06-07
    days on market $209,000 Active 142 DOM
11. 2026-06-05
    days on market $209,000 Active 139 DOM
12. 2026-06-03
    days on market $209,000 Active 138 DOM
13. 2026-06-02
    days on market $209,000 Active 137 DOM
14. 2026-06-01
    days on market $209,000 Active 136 DOM
15. 2026-05-31
    days on market $209,000 Active 135 DOM
16. 2026-05-06
    price $209,000 764-char remark

    Show marketing remark (764 chars)

    Shot-gun style Double/Duplex, side by side, renovated by previous owner 2021. Great Investment opportunity to add to your rental portfolio as an Owner occupant living on one side and collect rent to help with the mortgage or as an investor, renting both sides. Unit 7016 features open living room and kitchen, with granite counter, SS dishwasher and vent, refrigerator, 1 full bath, 2 bedrooms and inside laundry area. 7018 side features open living room and kitchen with granite counter, ss dishwasher, stove, vent and refrigerator, inside laundry across from 1 full bath, 3 bedroom with the last one independent of the other two. Share the large rear which measures 30 x 151 according to tax records. Don't let this one get away, call for your appointment today.

17. 2026-04-02
    price $219,000 764-char remark

    Show marketing remark (764 chars)

    Shot-gun style Double/Duplex, side by side, renovated by previous owner 2021. Great Investment opportunity to add to your rental portfolio as an Owner occupant living on one side and collect rent to help with the mortgage or as an investor, renting both sides. Unit 7016 features open living room and kitchen, with granite counter, SS dishwasher and vent, refrigerator, 1 full bath, 2 bedrooms and inside laundry area. 7018 side features open living room and kitchen with granite counter, ss dishwasher, stove, vent and refrigerator, inside laundry across from 1 full bath, 3 bedroom with the last one independent of the other two. Share the large rear which measures 30 x 151 according to tax records. Don't let this one get away, call for your appointment today.

18. 2026-03-10
    price $229,000 764-char remark

    Show marketing remark (764 chars)

    Shot-gun style Double/Duplex, side by side, renovated by previous owner 2021. Great Investment opportunity to add to your rental portfolio as an Owner occupant living on one side and collect rent to help with the mortgage or as an investor, renting both sides. Unit 7016 features open living room and kitchen, with granite counter, SS dishwasher and vent, refrigerator, 1 full bath, 2 bedrooms and inside laundry area. 7018 side features open living room and kitchen with granite counter, ss dishwasher, stove, vent and refrigerator, inside laundry across from 1 full bath, 3 bedroom with the last one independent of the other two. Share the large rear which measures 30 x 151 according to tax records. Don't let this one get away, call for your appointment today.

19. 2026-02-18
    price $239,900 764-char remark

    Show marketing remark (764 chars)

    Shot-gun style Double/Duplex, side by side, renovated by previous owner 2021. Great Investment opportunity to add to your rental portfolio as an Owner occupant living on one side and collect rent to help with the mortgage or as an investor, renting both sides. Unit 7016 features open living room and kitchen, with granite counter, SS dishwasher and vent, refrigerator, 1 full bath, 2 bedrooms and inside laundry area. 7018 side features open living room and kitchen with granite counter, ss dishwasher, stove, vent and refrigerator, inside laundry across from 1 full bath, 3 bedroom with the last one independent of the other two. Share the large rear which measures 30 x 151 according to tax records. Don't let this one get away, call for your appointment today.

20. 2026-01-15
    listed $249,900 Active 764-char remark

    Show marketing remark (764 chars)

    Shot-gun style Double/Duplex, side by side, renovated by previous owner 2021. Great Investment opportunity to add to your rental portfolio as an Owner occupant living on one side and collect rent to help with the mortgage or as an investor, renting both sides. Unit 7016 features open living room and kitchen, with granite counter, SS dishwasher and vent, refrigerator, 1 full bath, 2 bedrooms and inside laundry area. 7018 side features open living room and kitchen with granite counter, ss dishwasher, stove, vent and refrigerator, inside laundry across from 1 full bath, 3 bedroom with the last one independent of the other two. Share the large rear which measures 30 x 151 according to tax records. Don't let this one get away, call for your appointment today.

21. 2022-03-07
    listed $328,500
22. 2017-04-06
    listed $140,000
23. 2016-10-03
    listed $145,000

ⓘ 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: $3,610 · $301/mo
• Projected year-2 tax: $3,610 · $301/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: $38,868
• − Mortgage interest: −$11,147
• − Property taxes: −$3,610
• − Insurance: −$1,792
• − Repairs & maintenance: −$3,109
• − Management: −$3,109
• − Depreciation: −$5,789
• Taxable income: $10,310
• Est. tax owed @ 24.0%: −$2,475
• After-tax cash flow: $10,306/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): 17,821
• Household income: $61,174
• Rent vs Own: 53.3% rent · 46.7% own
• Severe rent burden: 1270.0

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 0.63)
• Race & ethnicity: Black 51% White 32% Hispanic / Latino 9% Two or more races 9% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 8% Romanian 1% Slovak 1%
• Foreign-born: 7% · Canada, China
• Languages at home: 90% English-only · Spanish 6% French/Haitian/Cajun 1% Chinese 1%

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: ▼ -49.68%
• Current HPI: 255.5998
• Rent YoY: ▲ 0.73%
• 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

+44.1% since first listed

8 events — show timeline

• 2026-05-06 Price Changed $209,000 AcadianaMLS
• 2026-04-02 Price Changed $219,000 AcadianaMLS
• 2026-03-10 Price Changed $229,000 AcadianaMLS
• 2026-02-18 Price Changed $239,900 AcadianaMLS
• 2026-01-15 Listed $249,900 AcadianaMLS
• 2022-03-07 Listed $328,500 AcadianaMLS
• 2017-04-06 Listed $140,000 AcadianaMLS
• 2016-10-03 Listed $145,000 AcadianaMLS

Property tax history

+7.2%/yr

Latest (2026): $3,610 · +1.0% YoY. Source: county tax records.