Raised-Basement
For Sale
$759,000
1312 SHORT Street, New Orleans, LA 70118
Multi-Family, Raised Basement, New Orleans, LA
Property Size4,644 SF
Lot Size0.14 Acres
Price / SF$163.44
Days on Market24
Property Features for 1312 SHORT Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Off Street, Driveway
Patio and Porch features
Porch
Exterior features
Courtyard, Fence, Porch
Fencing
Fenced
Lot features
Oversized
Subdivision
East Carrollton
Standard status
Active
APN
1312-SHORTST
Size
4,644 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Description
1. SQ 163 LOT S SHORT 2. 50 X 120 3. 1312 SHORT & APT A
Legal Description
1. SQ 163 LOT S SHORT 2. 50 X 120 3. 1312 SHORT & APT A
Utilities
Heating system
Central
Cooling system
Window Unit(s), Central Air
Water source
Public
Amenities
enclosed sunroom
workshop
storage
front porch
Building Details
Year built
1904
Floors in Building
3
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
REVE, REALTORS
(504) 300-0700
Listed By:
Zachary Russell
(504) 493-9770
Added: Aug 11
Changed: Aug 26
Last Checked: Sep 3 at 11:06AM
MLS# 2569583
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.
Built in 1904, this 4,644-square-foot duplex sits on a 0.14-acre lot in New Orleans. The main level includes 10-foot ceilings, two primary suites with ensuite bathrooms, a sitting room or library, and an enclosed sunroom. A private upper-level suite adds an office, bedroom or flex area, walk-in closet, and full bathroom.
The raised ground level contains a separate two-bedroom apartment with an independent electric meter. Additional improvements include a workshop, storage space, a sealed staircase between levels, front and rear yards, a brick driveway, and a front porch. Central heating, central air, and window units are present, along with public water service.
The property is located one block from restaurants and shops on Oak Street and a three-minute walk from a grocery store. Off-street parking, a driveway, fencing, and courtyard space are also included.
The raised ground level contains a separate two-bedroom apartment with an independent electric meter. Additional improvements include a workshop, storage space, a sealed staircase between levels, front and rear yards, a brick driveway, and a front porch. Central heating, central air, and window units are present, along with public water service.
The property is located one block from restaurants and shops on Oak Street and a three-minute walk from a grocery store. Off-street parking, a driveway, fencing, and courtyard space are also included.
Key Highlights
- 4,644‑square‑foot duplex on a 0.14‑acre lot
- Built in 1904 with 10‑foot ceilings on the main level
- Separate two‑bedroom apartment with its own electric meter
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
$58,805
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
7.75%
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%
$1,176,100
$1.2M
Cap Rate 7%
$840,071
$840.1K
Cap Rate 9%
$653,389
$653.4K
Market Conditions
NOI Build-Up for 4,644 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
$92.0K $19.80/SF
− Vacancy
−$7.9K −$1.71/SF
EGI
$84.0K $18.09/SF
− OpEx
−$25.2K −$5.43/SF
NOI
$58.8K $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%
$1,176,100
Cap Rate 7%
$840,071
Cap Rate 9%
$653,389
Alternative Uses
Best Use
Multifamily LT 5
$840.1K
$735.1K – $980.1K
NOI $58,805 @ 7.0% cap · market cap 7.75%
Second Best
Apartment 5plus
$772.2K
$675.6K – $900.9K
NOI $54,051 @ 7.0% cap · market cap 7.12%
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,625 @ 7.0% cap · market cap 10.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,472
Businesses Nearby
Explore this area
Business Placement
Demographics for 70118, LA
35,635
Population
15,464
Households
2.3
Avg Household Size
31
Median Age
54%
College-Educated
92%
High-School Grad
4.6 sq mi
ZIP Area
7,747
Density / Sq Mi
$62,665
Median Household Income
$28,199
Median Earnings
$1,257
Median Rent
$451,600
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?
Duplex - Historic New Orleans property with multiple living areas, outdoor space, and a separate apartment with its own electric meter.
Where is this duplex located?
The property is located at 1312 SHORT Street New Orleans, LA.
What is the asking price?
The asking price for this property is $759,000.
What are key features of this property?
This property features: 4,644‑square‑foot duplex on a 0.14‑acre lot; Built in 1904 with 10‑foot ceilings on the main level; Separate two‑bedroom apartment with its own electric meter
