22 days on rocket

8816 Spruce St, New Orleans, LA, 70118

$599,000

Home List Price

$7,113*

Closing Credit

12 Bedrooms
6 Full Baths
4,547 SqFt
$132/SqFt
Condo

Location

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8816 Spruce St, New Orleans$599,000

Buyer Closing Credits

$7,113*

1.25% Loan Amount

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Property Highlights

Home TypeCondominium
ParkingOff Street, Three or more Spaces
Year Built1992
HeatingCentral
CoolingCentral Air
MLS #2474068
StatusActive

About 8816 Spruce St

8816-26 Spruce Street is a 6-unit multifamily property located in the rapidly-growing Leonidas/Carrollton neighborhood, just blocks away from the Carrollton Avenue and S. Claiborne Avenue. The property is in excellent condition and has major upside potential in rents as the current owner favored maintaining relationships with long term tenants. Rents for 2 bed/1 bath units in this area in similar condition and size can obtain a rental amount of $1,100 per month conservatively. This would bring the potential rental income to $6,600 per month. There are two (2) buildings included in the overall property that each have their own individual tax parcel, a four-plex and a duplex. This allows for a buyer to obtain residential 1-4 investment financing which is favorable compared to commercial 5+ financing. All of the units are separately metered for water AND electricity. The tenants are responsible for all utilities, which brings down overall costs and greatly enhances the value of the asset.

Property Details

Property Features

Property Information:

  • Architectural Style: Traditional
  • Year Built: 1992
  • Stories: 2
  • Living Area: 4,547 SqFt

Listing Office:

  • Office Name: Bridgewater Realty Advisors, LLC
  • Office Phone: (504) 901-0463
  • Listing Agent: Mason McCullough
  • Agent Phone: (504) 298-8631

Interior Features

Bedroom and Bathroom Information:

  • Full Bathrooms: 6
  • Total Bedroom Count: 12

Exterior Features

Parking Information:

  • Parking: Off Street, Three or more Spaces

Lot Features

Lot Information:

  • Lot: City Lot, Oversized Lot

Utilities

Utilities Information:

  • Heating: Central
  • Cooling: Central Air

Price Information

Listing Price Info

Price Summary:

  • List Price: $599,000
  • Price Per SqFt: $132/SqFt

Tax Information:

  • Annual Amount: $3,649
  • 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

$325.3K

Med. Price/SqFt

$189

Avg. Days On Market

72

# of Sold Homes

201

8816 Spruce St vs New Orleans

22 DAYS ON ROCKET

-50 Days

$599,000

+$273.6K More

$132/SqFt

-$57 Less

KEY TAKEAWAY

This property is $273.6K more than the Median Sold Price and $57/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: #2474068

Listing Office:

  • Office Name: Bridgewater Realty Advisors, LLC
  • Office Phone: (504) 901-0463
  • Listing Agent: Mason McCullough
  • Agent Phone: (504) 298-8631

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: 11/21/2024, 10:20:49 AM 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$3,649$25,100
2019$2,870$19,000
2018$2,928$19,000
2017$2,795$19,000

History based on county public records data.

Payment Calculator

$3,057

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$1,862

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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-262301
1
/10

  • Noble Minds

  • 1333 S Carrollton Ave

  • 0.68 miles

  • Public Charter Grades KG-5

school-card-donut-262302
10
/10

  • Metairie Academy for Advanced Studies

  • 201 Metairie Rd

  • 1.64 miles

  • Public Magnet Grades PK-5

school-card-donut-262303
4
/10

  • Mildred S. Harris Elementary School

  • 1805 Bridge City Ave

  • 3.22 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 $42,948. Typical income of New Orleans, LA residents is between $35k-100k annually. The most common type of family is single, no kids. Typical level of education for residents in this area is post secondary degree.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 8816 Spruce St

What is the listing price of this property?

The listing price of 8816 Spruce St property is $599,000.

What type of property is this?

The property 8816 Spruce St is a condo located in New Orleans, Louisiana, 70118.

Is this property for sale now?

Active Listing: 8816 Spruce St is For Sale (Active/New) which means the seller is accepting offers.

What is the annual property tax for this property?

According to the records, the last property tax for 2020 is $3,649 (source: MLS/based on county public records data).

How many bedrooms and bathrooms does this property have?

The property at 8816 Spruce St has 12 bedrooms and 6 bathrooms.

What is the square footage of this property?

The property 8816 Spruce St is 4,547 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 8816 Spruce St is 1992.

Rocket Homes›Louisiana›Orleans County›New Orleans›70118›8816 Spruce St

This home is located at 8816 Spruce St in New Orleans, LA and zip code 70118 in the Uptown / Carrollton neighborhood. This 4,547 square foot home was built in 1992. Features: 12 bedrooms, 6 bathrooms. It has been listed on Rocket Homes since October 30, 2024 and is currently priced at $599,000.

While more than 20 listings in New Orleans, LA in October 2024 were sold above asking price, there were more than 35 listings sold at asking price, and more than 146 were sold below. In October 2024 in New Orleans, LA there were 12.1% more homes for sale than in September 2024. The median list price of listings available in October 2024 was $325,365, while the average time on the real estate market was 72 days.

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

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