Historic French Second Empire
For Sale
$2,299,000
1309 DAUPHINE Street, New Orleans, LA 70116
MULTI_FAMILY - New Orleans, LA
Property Size6,069 SF
Lot Size0.10 Acres
Price / SF$378.81
Days on Market322
Property Features for 1309 DAUPHINE Street
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Security features
Security
Patio and Porch features
Porch, Patio
Exterior features
Balcony, Courtyard, Fence, Outdoor Entertainment Area Beyond Your Average Patio, Porch, Security Cameras
Fencing
Fenced
Lot features
Regular
Subdivision
French Quarter, VC
Standard status
Active
APN
208101902
Size
6,069 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Description
SQ 81 LOT B OR 15 DAUPHINE ST 32-2/34X26-100/63-63
Legal Description
SQ 81 LOT B OR 15 DAUPHINE ST 32-2/34X26-100/63-63
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1883
Floors in Building
3
Number of units
7
Roof type
Slate
Listing Agency:
Keller Williams Realty Services
(985) 727-7000
Listed By:
Justin Warren · License #995710345
(985) 727-7000
Added: Sep 26, 2025
Changed: Jul 30
Last Checked: Aug 13 at 3:06AM
MLS# 2515569
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 at 1309 Dauphine Street in New Orleans, this 1883 French Second Empire Victorian residence is a three-story multifamily property with seven income-producing units. The building retains notable original architectural elements including a mansard roof and original cypress siding. Extensively renovated throughout, the residence includes updated electrical, plumbing, HVAC, and a fire sprinkler system, along with refined interior finishes. Interior details include heart pine hardwood floors and original-style architectural features, complemented by historic crystal chandeliers.
The property is offered in the French Quarter/Vieux Carre area, with proximity to Cabrini Park, Port of Call, and the Esplanade Corridor. Outdoor common space includes an oversized courtyard and a communal patio, and there is also a detached rear unit.
From a tenant and operator standpoint, the unit interiors are described as fully appointed with stainless steel appliances, Carrera marble countertops, gas ranges, and in-unit washer/dryers. The property is professionally managed, fully occupied, and generating strong rents, combining historical character with modernized building systems. The listing size is approximately 6,069 square feet on about 0.0972 acres.
The property is offered in the French Quarter/Vieux Carre area, with proximity to Cabrini Park, Port of Call, and the Esplanade Corridor. Outdoor common space includes an oversized courtyard and a communal patio, and there is also a detached rear unit.
From a tenant and operator standpoint, the unit interiors are described as fully appointed with stainless steel appliances, Carrera marble countertops, gas ranges, and in-unit washer/dryers. The property is professionally managed, fully occupied, and generating strong rents, combining historical character with modernized building systems. The listing size is approximately 6,069 square feet on about 0.0972 acres.
Key Highlights
- 1883 French Second Empire Victorian in the French Quarter with original mansard roof and cypress siding
- 7 income‑producing units in a fully occupied, professionally managed multi‑family property
- Extensive renovations include updated electrical, plumbing, central HVAC, and a fire sprinkler system
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
$70,636
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
3.07%
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%
$1,412,720
$1.4M
Cap Rate 7%
$1,009,086
$1.0M
Cap Rate 9%
$784,844
$784.8K
Market Conditions
NOI Build-Up for 6,069 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
$141.3K $23.28/SF
− Vacancy
−$12.9K −$2.12/SF
EGI
$128.4K $21.16/SF
− OpEx
−$57.8K −$9.52/SF
NOI
$70.6K $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%
$1,412,720
Cap Rate 7%
$1,009,086
Cap Rate 9%
$784,844
Alternative Uses
Best Use
Apartment 5plus
$1.01M
$883.0K – $1.18M
NOI $70,636 @ 7.0% cap · market cap 3.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $107,978 @ 7.0% cap · market cap 4.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
3,585
Businesses Nearby
Explore this area
Business Placement
Demographics for 70116, LA
10,676
Population
9,620
Households
1.1
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
8,212
Density / Sq Mi
$45,580
Median Household Income
$34,849
Median Earnings
$1,190
Median Rent
$385,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated 1883 Victorian offers seven occupied units with modern systems and in-unit washer/dryers, plus courtyard space.
Where is this apartment building located?
The property is located at 1309 DAUPHINE Street New Orleans, LA.
What is the asking price?
The asking price for this property is $2,299,000.
What are key features of this property?
This property features: 1883 French Second Empire Victorian in the French Quarter with original mansard roof and cypress siding; 7 income‑producing units in a fully occupied, professionally managed multi‑family property; Extensive renovations include updated electrical, plumbing, central HVAC, and a fire sprinkler system
