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    Fontainebleau Triplex: Income Potential Title is generated by Realmo AI

    6216-18 FONTAINEBLEAU Drive, New Orleans, LA 70125

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    For Sale
    $595,000

    MULTI_FAMILY - New Orleans, LA

    Property size:
    3,311 SF
    Lot size:
    0.10 Acres
    Price / SF:
    $179/SF
    Added:
    Mar 25, 2026
    Days on Market:
    53
    Last Refresh:
    May 16 at 11:06 pm

    Property Features for 6216-18 FONTAINEBLEAU Drive

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Patio and Porch features
    Porch
    Exterior features
    Balcony, Fence, Porch
    Fencing
    Fenced
    Standard status
    Active
    APN
    615210906
    Size
    3,311 SF
    Lot size
    0.10 Acres

    Taxes and HOA fees

    Tax Description
    BURTHEVILLE SQ 146 LOT Y FONTAINEBLEAU & CALHOUN 42X104 DUP-W 6216-18 FONTAINEBLEAU DR FILE #79137 5/99

    Utilities

    Heating system
    Other (Heating), Central, Ductless (Heating)
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1940
    Floors in Building
    2
    Number of units
    3
    Roof type
    Shingle
    Architectural style
    Colonial

    We can help!

    Listing Contact
    Edward Breaux

    Listing agent Edward Breaux

    Listing office Berkshire Hathaway HomeServices Preferred, REALTOR 4018 Magazine St., New Orleans, LA

    Listing date Mar 25, 2026

    MLS# 2549136 Listing URL

    Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Strong income potential with projected gross rental income of $5,200+/month when fully leased.
    • Two vacant 2‑bedroom, 2‑bath units offer immediate owner‑occupancy or lease‑up opportunity.
    • Located in a desirable Fontainebleau neighborhood with convenient access to key areas.
    • Located in an X flood zone.
    • Charming exterior with covered front porch and upper balcony, complemented by classic interior details.
    • Detached rear efficiency provides immediate rental income of $1,200/month.

    Overview

    This well-maintained triplex is located on a corner lot in the Fontainebleau neighborhood, offering convenient access to the interstate, downtown, Carrollton, Uptown, and nearby universities. The property features a charming exterior with a covered front porch and upper balcony. Interior details include hardwood floors and millwork. The main house is configured as two separate upper and lower units, each offering 2 bedrooms and 2 full baths with approximately 1,300 square feet of living space and abundant natural light. The upper unit includes a private balcony overlooking Fontainebleau Drive. Both units are currently vacant, providing immediate opportunity for an owner-occupant or lease-up at market rents. A detached rear efficiency is currently occupied, with potential rental income of $1,200/month. The property is located in an X flood zone and has a total configuration of 5 bedrooms and 5 full baths across approximately 3,311 square feet. Projected gross rental income is conservatively $5,200+/month when fully leased. The lot size is 0.1003 acres.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $465.8K
    NOI $41,926 @ 9.00% cap · cautious / downside scenario
    Moderate
    $598.9K
    NOI $41,926 @ 7.00% cap · market / base-case scenario
    Aggressive
    $838.5K
    NOI $41,926 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $65.6k $19.80
    − Vacancy −$5.7k −$1.71
    EGI $59.9k $18.09
    − OpEx −$18.0k −$5.43
    NOI $41.9k $12.66
    3,311 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $598.9K
    $524.1K – $698.8K (±1% cap)
    NOI $41,926 @ 7.0% cap · market cap 7.05%
    Second Best
    Apartment 5plus
    $550.5K
    $481.7K – $642.3K (±1% cap)
    NOI $38,536 @ 7.0% cap · market cap 6.48%
    Theoretical Best
    Office A
    $841.5K
    $736.4K – $981.8K (±1% cap)
    NOI $58,908 @ 7.0% cap · market cap 9.90%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.110839
    Latitude
    29.951456

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    FAQs

    What type of property is this?
    Triplex - Well-maintained triplex in Fontainebleau with strong income potential.
    Where is this triplex located?
    The property is located at 6216-18 FONTAINEBLEAU Drive New Orleans, LA.
    What is the asking price?
    The asking price for this property is $595,000.
    What are key features of this property?
    This property features: Strong income potential with projected gross rental income of $5,200+/month when fully leased.; Two vacant 2‑bedroom, 2‑bath units offer immediate owner‑occupancy or lease‑up opportunity.; Located in a desirable Fontainebleau neighborhood with convenient access to key areas.
    (504) 799-1702
    We can help!
    Listing Contact
    Edward Breaux
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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