Reimagined Duplex with
New
For Sale
$995,000
1405 SAINT MARY Street, New Orleans, LA 70130
Multi-Family, Traditional, New Orleans, LA
Property Size3,537 SF
Price / SF$281.31
Days on Market5
Property Features for 1405 SAINT MARY Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Exterior features
Balcony, Fence
Fencing
Fenced
Lot features
Regular
Subdivision
Lower Garden Distric
Standard status
Active
APN
1405-STMARYST
Size
3,537 SF
Taxes and HOA fees
Tax Description
SQ 206 LOT 27-B ST MARY 35 X 89 MADE INTO SUB- DIVISION FROM TAXBILL NO. 4 12 1 031 16 DB 1405-07 ST MARY ST FILE #10998
Legal Description
SQ 206 LOT 27-B ST MARY 35 X 89 MADE INTO SUB- DIVISION FROM TAXBILL NO. 4 12 1 031 16 DB 1405-07 ST MARY ST FILE #10998
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1852
Floors in Building
2
Number of units
2
Roof type
Asphalt
Architectural style
Other
Listing Agency:
McEnery Residential, LLC
(504) 605-4400
Listed By:
Oliver Doxtater
(504) 494-9962
Added: Aug 25
Changed: Aug 26
Last Checked: Aug 29 at 12:06PM
MLS# 2574075
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 duplex property encompasses 3,537 square feet and combines a principal residence with a fully furnished in-law suite. The main home features three bedrooms and 2.5 bathrooms, a renovated kitchen with custom cabinetry, Calacatta Gold marble, a Bertazzoni range, Fireclay sink, and integrated Fisher & Paykel refrigerator. Living areas include a den or study, built-in storage, and a historic brick fireplace. The primary suite occupies the full width of the home and includes a private balcony, custom closet, and in-suite washer and dryer.
A separate entrance serves the in-law suite, while an additional standalone studio offers a private entrance and full bathroom. The studio can function as a home office, creative space, artist studio, or playroom. Exterior features include a balcony and fencing, with central heating and central air. The property was built in 1852 and uses public water.
A separate entrance serves the in-law suite, while an additional standalone studio offers a private entrance and full bathroom. The studio can function as a home office, creative space, artist studio, or playroom. Exterior features include a balcony and fencing, with central heating and central air. The property was built in 1852 and uses public water.
Key Highlights
- 3,537‑square‑foot duplex property with principal residence and furnished in‑law suite
- Main residence includes 3 bedrooms, 2.5 bathrooms, and a renovated chef's kitchen
- Primary suite features a private balcony, custom closet, and in‑suite washer/dryer
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
$44,787
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
4.50%
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%
$895,740
$895.7K
Cap Rate 7%
$639,814
$639.8K
Cap Rate 9%
$497,633
$497.6K
Market Conditions
NOI Build-Up for 3,537 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
$70.0K $19.80/SF
− Vacancy
−$6.1K −$1.71/SF
EGI
$64.0K $18.09/SF
− OpEx
−$19.2K −$5.43/SF
NOI
$44.8K $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%
$895,740
Cap Rate 7%
$639,814
Cap Rate 9%
$497,633
Alternative Uses
Best Use
Multifamily LT 5
$639.8K
$559.8K – $746.5K
NOI $44,787 @ 7.0% cap · market cap 4.50%
Second Best
Apartment 5plus
$588.1K
$514.6K – $686.1K
NOI $41,167 @ 7.0% cap · market cap 4.14%
Theoretical Best
Office A
$899.0K
$786.6K – $1.05M
NOI $62,929 @ 7.0% cap · market cap 6.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,728
Businesses Nearby
Explore this area
Business Placement
Demographics for 70130, LA
14,521
Population
10,927
Households
1.3
Avg Household Size
38
Median Age
64%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
6,915
Density / Sq Mi
$82,758
Median Household Income
$52,492
Median Earnings
$1,410
Median Rent
$529,300
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 - Historic New Orleans property with a furnished secondary suite, separate studio, private entrances, and updated residential interiors.
Where is this duplex located?
The property is located at 1405 SAINT MARY Street New Orleans, LA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 3,537‑square‑foot duplex property with principal residence and furnished in‑law suite; Main residence includes 3 bedrooms, 2.5 bathrooms, and a renovated chef's kitchen; Primary suite features a private balcony, custom closet, and in‑suite washer/dryer
