Renovated Two-Unit Cottage
For Sale
$465,000
1412 DAUPHINE Street, New Orleans, LA 70116
Multi-Family, CreoleFrenchColonial, New Orleans, LA
Property Size1,028 SF
Lot Size0.03 Acres
Price / SF$452.33
Days on Market58
Property Features for 1412 DAUPHINE Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Exterior features
Courtyard
Lot features
Regular
Subdivision
Marigny Rec
Standard status
Active
APN
37W100808
Size
1,028 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Description
SQ 157 LOT O DAUPHINE 18X65 1/ST SGLE 4/R S/R SEE SEQ 002
Legal Description
SQ 157 LOT O DAUPHINE 18X65 1/ST SGLE 4/R S/R SEE SEQ 002
Utilities
Heating system
Other (Heating), Ductless (Heating)
Cooling system
Ductless, Wall Unit(s)
Water source
Public
Amenities
private courtyard
outdoor shower
outdoor storage
Building Details
Year built
1840
Floors in Building
1
Number of units
2
Roof type
Metal, Shingle
Architectural style
Colonial
Listing Agency:
Witry Collective, L.L.C.
(504) 291-2022
Listed By:
Katie Witry · License #995710150
(504) 919-8585
Added: Jun 30
Changed: Aug 26
Last Checked: Aug 26 at 4:06PM
MLS# 2565473
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 1840-built duplex property includes two separate structures on a 0.0269-acre lot. The front cottage offers one bedroom and one bathroom, while the rear structure is configured as a studio with a full bathroom. Combined property size is 1,028 square feet. Renovation work was completed in 2022, with wood floors, 11-foot ceilings, working shutters, a private courtyard, outdoor shower, and dedicated exterior storage. Heating includes ductless and other systems, while cooling is provided by ductless and wall units. The property has public water service and metal and shingle roofing.
Located at 1412 Dauphine Street in New Orleans, the property is one block from the French Quarter, three blocks from Cabrini Park, and three blocks from Frenchmen Street. It is within the Historic Marigny Tremé Bywater Residential District and the Faubourg Marigny Historic District, with Flood Zone X designation and Full Control.
Located at 1412 Dauphine Street in New Orleans, the property is one block from the French Quarter, three blocks from Cabrini Park, and three blocks from Frenchmen Street. It is within the Historic Marigny Tremé Bywater Residential District and the Faubourg Marigny Historic District, with Flood Zone X designation and Full Control.
Key Highlights
- Two separate structures: a one‑bedroom/one‑bath front cottage and a rear studio with full bathroom
- 1,028 square feet on a 0.0269‑acre lot
- Renovated in 2022 with wood floors and 11ft ceilings
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
$13,017
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
2.80%
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%
$260,340
$260.3K
Cap Rate 7%
$185,957
$186.0K
Cap Rate 9%
$144,633
$144.6K
Market Conditions
NOI Build-Up for 1,028 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
$20.4K $19.80/SF
− Vacancy
−$1.8K −$1.71/SF
EGI
$18.6K $18.09/SF
− OpEx
−$5.6K −$5.43/SF
NOI
$13.0K $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%
$260,340
Cap Rate 7%
$185,957
Cap Rate 9%
$144,633
Alternative Uses
Best Use
Multifamily LT 5
$186.0K
$162.7K – $217.0K
NOI $13,017 @ 7.0% cap · market cap 2.80%
Second Best
Apartment 5plus
$170.9K
$149.6K – $199.4K
NOI $11,965 @ 7.0% cap · market cap 2.57%
Theoretical Best
Office A
$261.3K
$228.6K – $304.8K
NOI $18,290 @ 7.0% cap · market cap 3.93%
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
2,937
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate structures provide a one-bedroom cottage and a studio with full bath, plus a private courtyard and outdoor shower.
Where is this duplex located?
The property is located at 1412 DAUPHINE Street New Orleans, LA.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Two separate structures: a one‑bedroom/one‑bath front cottage and a rear studio with full bathroom; 1,028 square feet on a 0.0269‑acre lot; Renovated in 2022 with wood floors and 11ft ceilings
