Faubourg Marigny New Construction
1140 TOURO Street New Orleans, LA 70116
1140 TOURO Street, New Orleans, LA, 70116
$595,000
For Sale
$595,000
MULTI_FAMILY - New Orleans, LA
Property Size2,851 SF
Price / SF$208.70
Days on Market140
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 Agency
Keller Williams Realty New Orleans
(504) 862-0100
8601 Leake Ave., New Orleans, LA
Listed by
Chris Smith · License #000009641
(504) 862-0100
Added: Feb 27 Checked: Jul 17 at 3:06 pm
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.
Investment Insights
Based on property information with market context.
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.
Key Highlights
- New construction 2026 duplex with central heating and central air.
- 3 bedrooms and 2 full baths in each unit for a total of 6 bedrooms and 4 full baths.
- Corner lot with gated off‑street parking for 2 vehicles, plus driveway parking.
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 Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
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: New construction 2026 duplex with central heating and central air.; 3 bedrooms and 2 full baths in each unit for a total of 6 bedrooms and 4 full baths.; Corner lot with gated off‑street parking for 2 vehicles, plus driveway parking.
