Residential Income Duplex
For Sale
$260,000
Pending
1205 DELERY Street, New Orleans, LA 70117
MULTI_FAMILY - New Orleans, LA
Property Size2,004 SF
Lot Size0.12 Acres
Days on Market58
Property Features for 1205 DELERY Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Exterior features
Fence
Fencing
Fenced
Lot features
Regular
Subdivision
Lower Ninth Ward
Standard status
Pending
APN
39W212605
Size
2,004 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
ST CLAUDE SUB DIV SQ 17 LOTS 7 8 50 X 104 DBLE 12/RM A/R 1203-05 DELERY & MARAIS STS
Legal Description
ST CLAUDE SUB DIV SQ 17 LOTS 7 8 50 X 104 DBLE 12/RM A/R 1203-05 DELERY & MARAIS STS
Utilities
Heating system
Ductless (Heating), Other (Heating)
Cooling system
Ductless, Wall Unit(s)
Water source
Public
Building Details
Year built
1920
Floors in Building
1
Number of units
2
Roof type
Shingle
Architectural style
Cottage
Listing Agency:
Witry Collective, L.L.C.
(504) 291-2022
Listed By:
Katie Witry · License #995710150
(504) 453-2277
Added: Jun 30
Changed: Jul 30
Last Checked: Aug 26 at 4:06PM
MLS# 2565488
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.
This residential income duplex cottage features a layout described as a double with distinct living areas rather than a shotgun style. The front portion includes a 2-bedroom, 2-bath setup, while the rear portion is described as a 1-bedroom, 1-bath apartment connected via a shared screen porch. The home is described with tall ceilings and wood floors, along with large living rooms designed for day-to-day living and entertaining.
The property is situated on a corner lot near Jackson Barracks, with access described as a block off St. Claude Avenue, supporting convenient travel to Orleans and St. Bernard Parishes. The lot size is listed as 50 by 140. The property is identified as being in flood zone X, and flood insurance is noted as recommended but not required.
The asset is offered for sale as part of a residential income property category and includes a total property size of 2,004 square feet.
The property is situated on a corner lot near Jackson Barracks, with access described as a block off St. Claude Avenue, supporting convenient travel to Orleans and St. Bernard Parishes. The lot size is listed as 50 by 140. The property is identified as being in flood zone X, and flood insurance is noted as recommended but not required.
The asset is offered for sale as part of a residential income property category and includes a total property size of 2,004 square feet.
Key Highlights
- 1920 cottage on a 50x140 corner lot in front of Jackson Barracks
- Double home layout: front 2‑bedroom/2‑bath unit with 3 independent bedrooms total, plus a rear 1‑bedroom/1‑bath apartment
- Shared screen porch connects the front unit and rear 1‑bedroom/1‑bath apartment
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,324
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.97%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$466,480
$466.5K
Cap Rate 7%
$333,200
$333.2K
Cap Rate 9%
$259,156
$259.2K
Market Conditions
NOI Build-Up for 2,004 SF
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.
Gross rent
$46.7K $23.28/SF
− Vacancy
−$4.2K −$2.12/SF
EGI
$42.4K $21.16/SF
− OpEx
−$19.1K −$9.52/SF
NOI
$23.3K $11.64/SF
Area
New Orleans, LA
Vacancy
9.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$466,480
Cap Rate 7%
$333,200
Cap Rate 9%
$259,156
Alternative Uses
Best Use
Multifamily LT 5
$362.5K
$317.2K – $422.9K
NOI $25,376 @ 7.0% cap · market cap 9.76%
Second Best
Apartment 5plus
$333.2K
$291.6K – $388.7K
NOI $23,324 @ 7.0% cap · market cap 8.97%
Theoretical Best
Office A
$509.4K
$445.7K – $594.3K
NOI $35,655 @ 7.0% cap · market cap 13.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
463
Businesses Nearby
Explore this area
Business Placement
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Corner-lot duplex cottage with independent units and a shared screen porch in a flood zone X area.
Where is this duplex located?
The property is located at 1205 DELERY Street New Orleans, LA.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: 1920 cottage on a 50x140 corner lot in front of Jackson Barracks; Double home layout: front 2‑bedroom/2‑bath unit with 3 independent bedrooms total, plus a rear 1‑bedroom/1‑bath apartment; Shared screen porch connects the front unit and rear 1‑bedroom/1‑bath apartment
