Spanish-Style Duplex with
For Sale
$575,000
1310 URSULINES Avenue, New Orleans, LA 70116
Multi-Family, Spanish, New Orleans, LA
Property Size1,981 SF
Price / SF$290.26
Days on Market182
Property Features for 1310 URSULINES Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Off Street, Driveway
Exterior features
Balcony, Fence
Fencing
Fenced
Lot features
Regular
Subdivision
Treme
Standard status
Active
APN
208103819
Size
1,981 SF
Taxes and HOA fees
Tax Description
1. SQ 146 LOT Y URSULINES 2. 26X96XVAR
Legal Description
1. SQ 146 LOT Y URSULINES 2. 26X96XVAR
Utilities
Heating system
Ductless (Heating), Other (Heating)
Cooling system
Window Unit(s), Wall Unit(s), Ductless
Water source
Public
Amenities
gated off-street parking
covered porches
rear roof deck
workshop/entertainment area
laundry
storage
Building Details
Year built
1923
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Spanish
Listing Agency:
REVE, REALTORS
(504) 300-0700
Listed By:
Cindy Flannery · License #099564494
(504) 908-9333
Added: Mar 17
Changed: Sep 12
Last Checked: Sep 14 at 2:06PM
MLS# 2543859
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 Spanish-style duplex, built in 1923, contains 1,981 square feet and is currently arranged as two separate units. The layout includes 4 bedrooms and 3 bathrooms, with the option to combine the spaces into a single residence. Original antique wide-plank heart pine floors bring historic character, while the property also includes covered porches, a rear roof deck, and a workshop or entertainment area. A renovated upstairs bathroom features a large walk-in shower completed in 2022, and the upper-level kitchen includes modern appliances.
The property is located two blocks from the French Quarter and includes gated off-street parking, fencing, laundry, and storage. A washer, dryer, and downstairs refrigerator were added in 2024. The home is offered furnished, excluding artwork, and has public water service, shingle roofing, and ductless, window-unit, and wall-unit cooling systems.
The property is located two blocks from the French Quarter and includes gated off-street parking, fencing, laundry, and storage. A washer, dryer, and downstairs refrigerator were added in 2024. The home is offered furnished, excluding artwork, and has public water service, shingle roofing, and ductless, window-unit, and wall-unit cooling systems.
Key Highlights
- Two‑unit configuration with 4 bedrooms and 3 bathrooms
- 1,981 square feet; Spanish architectural style; built in 1923
- Gated off‑street parking with fenced outdoor areas
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
$25,084
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
4.36%
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%
$501,680
$501.7K
Cap Rate 7%
$358,343
$358.3K
Cap Rate 9%
$278,711
$278.7K
Market Conditions
NOI Build-Up for 1,981 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
$39.2K $19.80/SF
− Vacancy
−$3.4K −$1.71/SF
EGI
$35.8K $18.09/SF
− OpEx
−$10.8K −$5.43/SF
NOI
$25.1K $12.66/SF
Area
New Orleans, LA
Vacancy
8.64%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$501,680
Cap Rate 7%
$358,343
Cap Rate 9%
$278,711
Alternative Uses
Best Use
Multifamily LT 5
$358.3K
$313.6K – $418.1K
NOI $25,084 @ 7.0% cap · market cap 4.36%
Second Best
Apartment 5plus
$329.4K
$288.2K – $384.3K
NOI $23,057 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$503.5K
$440.6K – $587.4K
NOI $35,245 @ 7.0% cap · market cap 6.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,963
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Flexible two-unit property with historic character, outdoor entertaining areas, and gated off-street parking near the French Quarter.
Where is this duplex located?
The property is located at 1310 URSULINES Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two‑unit configuration with 4 bedrooms and 3 bathrooms; 1,981 square feet; Spanish architectural style; built in 1923; Gated off‑street parking with fenced outdoor areas
