Renovated Duplex with Off-Street
For Sale
$288,500
3016 Hamilton St, New Orleans, LA 70118
Fully occupied duplex with updated kitchen appliances and outdoor storage.
Property Size2,016 SF
Price / SF$143.11
Days on Market18
Property Features for 3016 Hamilton St
General Information
Standard status
Active
Size
2,016 SF
Property subtype
Multi-Family
Occupancy
100%
Building Details
Year Built
2022
Listing Agency:
Ronald Ward Real Estate
(225) 241-9620
Listed By:
Ronald Ward · License #000003484
Source:
Dominionplace
Added: Aug 15
Changed: Aug 29
Last Checked: Aug 31 at 7:51PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Ronald Ward Real Estate
Investment Insights
Based on property information with market context.
This duplex property offers 2,016 square feet with four bedrooms and two full bathrooms. The residence was built in 2022 and has been renovated, with an updated kitchen equipped with a range oven, microwave, and dishwasher. Off-street parking and outdoor storage provide additional functional amenities.
The property is fully occupied and positioned at 3016 Hamilton St in New Orleans, Louisiana. Its existing occupancy, residential configuration, and in-place kitchen improvements provide a defined setup for an income-producing residential asset.
The property is fully occupied and positioned at 3016 Hamilton St in New Orleans, Louisiana. Its existing occupancy, residential configuration, and in-place kitchen improvements provide a defined setup for an income-producing residential asset.
Key Highlights
- 2,016‑square‑foot duplex built in 2022
- Four bedrooms and two full bathrooms
- Fully occupied and generating income
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$25,528
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.85%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$510,560
$510.6K
Cap Rate 7%
$364,686
$364.7K
Cap Rate 9%
$283,644
$283.6K
Market Conditions
NOI Build-Up for 2,016 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$39.9K $19.80/SF
− Vacancy
−$3.4K −$1.71/SF
EGI
$36.5K $18.09/SF
− OpEx
−$10.9K −$5.43/SF
NOI
$25.5K $12.66/SF
Area
New Orleans, LA
Vacancy
8.64%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$510,560
Cap Rate 7%
$364,686
Cap Rate 9%
$283,644
Alternative Uses
Best Use
Multifamily LT 5
$364.7K
$319.1K – $425.5K
NOI $25,528 @ 7.0% cap · market cap 8.85%
Second Best
Apartment 5plus
$335.2K
$293.3K – $391.1K
NOI $23,464 @ 7.0% cap · market cap 8.13%
Theoretical Best
Office A
$512.4K
$448.4K – $597.8K
NOI $35,868 @ 7.0% cap · market cap 12.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
558
Businesses Nearby
Explore this area
Business Placement
Demographics for 70118, LA
35,635
Population
15,464
Households
2.3
Avg Household Size
31
Median Age
54%
College-Educated
92%
High-School Grad
4.6 sq mi
ZIP Area
7,747
Density / Sq Mi
$62,665
Median Household Income
$28,199
Median Earnings
$1,257
Median Rent
$451,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Fully occupied duplex with updated kitchen appliances and outdoor storage.
Where is this duplex located?
The property is located at 3016 Hamilton St New Orleans, LA.
What is the asking price?
The asking price for this property is $288,500.
What are key features of this property?
This property features: 2,016‑square‑foot duplex built in 2022; Four bedrooms and two full bathrooms; Fully occupied and generating income
