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$310,000

For Sale - Active
3016 Burdette St, New Orleans, LA 70125
3 Beds
2 Baths
1,538 Square Feet
0.00 Acres Lot
Built in 2021
For Sale - Active
Units n/a
Checked: 22 hours ago
Updated: May 23, 2025 at 03:11AM

Investment Summary


Potential Missing Expenses

We noticed that property taxes are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
-$114
Cap Rate
5.9%
Cash-on-Cash Return
-1.9%
Debt Coverage Ratio
0.93
Internal Rate of Return (5 years)
2.1%

Property Description


0.00 Acres Lot
Built in 2021
For Sale - Active
Units n/a

Renovated cottage with 3 bedrooms, 2 bathrooms is located in the highly desired Fontainebleau neighborhood of New Orleans. Features include a large kitchen with stainless steel appliances, granite countertops, walk-in pantry, laundry room with built-in shelves, shutters on all of the windows and a spacious den/family room. Must See!

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Location


Property Details


Parking

  • Details: None
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 10
  • # of Stories: 1

Exterior Features

  • Foundation: Raised
  • Roof Material: Shingle

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 716403109
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Cottage, Creole
  • Year Built: 2021

Tax Information

  • Annual Tax: $0

Utilities

  • Water & Sewer: Public
  • Heating: Central
  • Cooling: Central Air

Location

  • County: Orleans Parish

Listing Details


Listed by:
Melissa Martin
Prieur Properties, LLC
(504) 352-9800

Source:
Gulf South Real Estate Information Network
MLS#: 2494562
Gulf South Real Estate Information Network

Investment Summary


Potential Missing Expenses

We noticed that property taxes are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
-$114
Cap Rate
5.9%
Cash-on-Cash Return
-1.9%
Debt Coverage Ratio
0.93
Internal Rate of Return (5 years)
2.1%

Purchase Details

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Purchase price:
$310,000
Amount financed:
-$248,000
Down payment:
$62,000
Closing costs:
$9,300
Rehab costs:
$0
Initial cash invested:
$71,300
Square feet:
1,538
Cost per square foot:
$202
Monthly rent per square foot:
$1.43

Financing Details

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Loan amount:
$248,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.890%
Principal & interest:
$1,632
Property tax:
$0
Insurance:
$154
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,786

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,200 $26,400
Vacancy loss: (6%)
6% -$132 -$1,584
Operating income:
$2,068 $24,816

Operating Expenses


% Rent Monthly Yearly
Property taxes: (n/a)
n/an/an/a
Insurance: (7%)
7%-$154-$1,848
Property management: (8%)
8%-$176-$2,112
Repairs & maintenance: (5%)
5%-$110-$1,320
Capital expenditures: (5%)
5%-$110-$1,320
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (25%)
25%-$550-$6,600

Cash Flow


Monthly Yearly
Net operating income:
$1,518 $18,216
Mortgage payments:
-$1,632 -$19,584
Cash flow:
$114 $1,368