Faubourg Marigny New Construction
1140 TOURO Street, New Orleans, LA 70116
- Added:
- Feb 27, 2026
- Days on Market:
- 95
- Last Refresh:
- Jun 2 at 4:06 am
Property Features for 1140 TOURO Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Property condition
- Under Construction
- Parking features
- Driveway
- Patio and Porch features
- Porch, Patio
- Exterior features
- Balcony, Courtyard, Fence, Outdoor Entertainment Area Beyond Your Average Patio, Porch
- Fencing
- Fenced
- Standard status
- Active
- APN
- 1142-TOUROST
- Size
- 2,851 SF
Taxes and HOA fees
- Tax Description
- SQ 387 LOTS 1 OR 13 TOURO AND MARAIS 29 X 100
Utilities
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 2026
- Floors in Building
- 1
- Number of units
- 2
- Roof type
- Shingle
- Architectural style
- Other
Listing agent Chris Smith License #09641 (504) 862-0100
Listing office Keller Williams Realty New Orleans 8601 Leake Ave., New Orleans, LA (504) 862-0100
Listing date Feb 27, 2026
MLS# 2544983
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
- Prime Faubourg Marigny location: Walkable to French Quarter, Saint Claude, Elysian Fields, restaurants, cafes, and music venues.
- New construction duplex: Each unit features 3 bedrooms and 2 full baths with modern, open floor plans.
- Gated off‑street parking for 2 vehicles: A rare and valuable amenity in this neighborhood.
- Energy‑efficient construction: Double pane windows, modern insulation, and quality materials.
- Located in an X Flood Zone that has NEVER flooded: Low annual homeowner's insurance.
- New Home Builder Warranty: Includes a 5‑year warranty.
Overview
Located in the heart of the Faubourg Marigny, this new construction duplex offers a blend of location and modern construction. Situated one block from Saint Claude Avenue, four blocks from the French Quarter, and two blocks from Elysian Fields Avenue, the property provides walkability and connectivity to New Orleans attractions. The surrounding area includes neighborhood favorites such as The Ruby Slipper Cafe, Hotel Peter & Paul, Who Dat Coffee Cafe, AYU Bakehouse, and Robert Fresh Market, along with local restaurants, coffee shops, music venues, and nightlife. Each unit features three bedrooms and two full baths, with open floor plans designed to create a seamless flow between living, dining, and kitchen spaces, enhanced by natural light and a modern feel. The property is situated on a corner lot and includes gated off-street parking for two vehicles. Built with modern construction standards and energy-efficient materials, the residence includes functional double-pane windows, modern insulation, and quality contemporary building materials. The property is located in an X Flood Zone that has never flooded and has low homeowner's insurance of approximately $4,539 annually. This property is suitable for owner occupancy, multi-generational living, or investment with rental appeal. The property size is 2851 square feet.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $56.4k | $19.80 |
| − Vacancy | −$4.9k | −$1.71 |
| EGI | $51.6k | $18.09 |
| − OpEx | −$15.5k | −$5.43 |
| NOI | $36.1k | $12.66 |
2,851 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$515.7K
$451.3K – $601.7K
NOI $36,101 @ 7.0% cap · market cap 6.07%
Second Best
Apartment 5plus
$474.0K
$414.8K – $553.0K
NOI $33,182 @ 7.0% cap · market cap 5.58%
Theoretical Best
Office A
$724.6K
$634.1K – $845.4K
NOI $50,724 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- New Orleans
- County
- Jefferson
- State
- Louisiana
- Longitude
- -90.059448
- Latitude
- 29.969294
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - New construction duplex in vibrant Faubourg Marigny neighborhood.
Where is this duplex located?
The property is located at 1140 TOURO Street 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: Prime Faubourg Marigny location: Walkable to French Quarter, Saint Claude, Elysian Fields, restaurants, cafes, and music venues.; New construction duplex: Each unit features **3 bedrooms and 2 full baths** with modern, open floor plans.; Gated off‑street parking for 2 vehicles: A rare and valuable amenity in this neighborhood.
