5 months on rocket

3018 Cherry St, New Orleans, LA, 70118

$275,000

Home List Price

$3,266*

Closing Credit

6 Bedrooms
3 Full Baths
1,725 SqFt
$159/SqFt
Multi

Location

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3018 Cherry St, New Orleans$275,000

Buyer Closing Credits

$3,266*

1.25% Loan Amount

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Property Highlights

Home TypeTriplex
ParkingDriveway, Three or more Spaces
Year Built1968
HeatingCentral
CoolingCentral Air
MLS #2458385
Lot Size0.10 Acres
StatusActive

About 3018 Cherry St

INVESTMENT CASH FLOW OPPORTUNITY! This fully occupied triplex is a prime income-producing property. Each Unit is currently rented, with transferable leases in place, making this property a true CASH COW for the right investor. Presented in very good to excellent condition, it features a 4 years young Roof, HVAC system, and water heaters. WELL MAINTAINED & in a PRIME CENTRAL LOCATION with easy access to downtown and Elmwood Shopping/Dining. Tours of the property are available by appointment only. Due to tenant occupancy, all showings must be scheduled with the Listing Agent and will be accompanied by them.

Property Details

Property Features

Property Information:

  • Architectural Style: Traditional
  • Year Built: 1968
  • Stories: 1
  • Living Area: 1,725 SqFt

Listing Office:

  • Office Name: Atlas Real Estate Company, LLC
  • Office Phone: (504) 399-4663
  • Listing Agent: Chad Hymel
  • Agent Phone: (504) 777-9784

Interior Features

Bedroom and Bathroom Information:

  • Full Bathrooms: 3
  • Total Bedroom Count: 6

Exterior Features

Parking Information:

  • Parking: Driveway, Three or more Spaces

Lot Features

Lot Information:

  • Lot: City Lot, Rectangular Lot
  • Lot Size: 0.10 Acres

Utilities

Utilities Information:

  • Heating: Central
  • Cooling: Central Air

Price Information

Listing Price Info

Price Summary:

  • List Price: $275,000
  • Price Per SqFt: $159/SqFt

Tax Information:

  • Annual Amount: $711
  • Tax Year: 2020
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Housing Market Comparison

See how this home compares to others in New Orleans, LA.

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New Orleans, LA

City

Med. Sold Price

$327.6K

Med. Price/SqFt

$189

Avg. Days On Market

76

# of Sold Homes

231

3018 Cherry St vs New Orleans

159 DAYS ON ROCKET

+83 Days

$275,000

-$52.6K Less

$159/SqFt

-$31 Less

KEY TAKEAWAY

This property is $52.6K less than the Median Sold Price and $31/SqFt less than other homes in New Orleans, LA.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: NOMAR
  • MLS Number: #2458385

Listing Office:

  • Office Name: Atlas Real Estate Company, LLC
  • Office Phone: (504) 399-4663
  • Listing Agent: Chad Hymel
  • Agent Phone: (504) 777-9784

IDX Disclaimer: Copyright © 2024, New Orleans Metropolitan Association of REALTORS©, Inc. All rights reserved. Information deemed reliable, but not verified or guaranteed. Users are responsible for checking the accuracy, completeness, currency, and status of all information. The sharing of MLS database, or any portion thereof, with any unauthorized third party is strictly prohibited. Information contained on this site is believed to be reliable; yet, users of this web site are responsible for checking the accuracy, completeness, currency, or suitability of all information. Neither the New Orleans Metropolitan Association of REALTORS©, Inc. nor the Gulf South Real Estate Information Network, Inc. makes any representation, guarantees, or warranties as to the accuracy, completeness, currency, or suitability of the information provided. They specifically disclaim any and all liability for all claims or damages that may result from providing information to be used on the web site, or the information which it contains, including any web sites maintained by third parties, which may be linked to this web site.

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Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/22/2024, 1:20:53 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Tax History

YEARPROP. TAXASSESSMENT
2020$711$4,890
2019$738$4,890
2018$753$4,890
2017$719$4,890

History based on county public records data.

Payment Calculator

$1,440

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$891

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-982389
10
/10

  • Metairie Academy for Advanced Studies

  • 201 Metairie Rd

  • 0.87 miles

  • Public Magnet Grades PK-5

school-card-donut-982390
1
/10

  • Noble Minds

  • 1333 S Carrollton Ave

  • 1.44 miles

  • Public Charter Grades KG-5

school-card-donut-982391
7
/10

  • Marie Riviere Elementary School

  • 1564 Lake Ave

  • 3.25 miles

  • Public District Grades PK-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $11,831. Typical income of New Orleans, LA residents is less than $35k annually. The most common type of family is single, no kids. Residents of this area typically have high school diploma education.

All data provided by Home Junction and Claritas

Rocket Homes›Louisiana›Orleans County›New Orleans›70118›3018 Cherry St

This home is located at 3018 Cherry St in New Orleans, LA and zip code 70118 in the Holly Grove neighborhood. This 1,725 square foot home, which was built in 1968, sits on a 0.10 acre lot. Features: 6 bedrooms, 3 bathrooms. It has been listed on Rocket Homes since July 16, 2024 and is currently priced at $275,000.

In November 2024 more than 29 listings in New Orleans, LA were sold above the asking price. During the same period more than 41 listings were sold at asking price, while more than 161 were sold below. In November 2024 in New Orleans, LA there were 6.2% more homes for sale than in October 2024. Listings spent 76 days on the market in November 2024, and had a median list price of $327,611 during the same period.

From Rocket Homes Real Estate and based on county public records data.

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