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    1415-17 Terpsichore St New Orleans, LA 70130

    Sponsored
    For Sale
    $999,000

    Traditional, 4 Plex - New Orleans, LA

    Property size:
    5,076 SF
    Days on Market:
    2
    Last Refresh:
    Feb 6 at 12:06 pm

    Property Features for 1415-17 Terpsichore St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Laundry
    Patio and Porch features
    Porch
    EntryLevel
    2
    Exterior features
    Balcony, Courtyard, Fence, Porch
    Fencing
    Fenced
    Size
    5,076 SF

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Floors in Building
    2
    Number of units
    4
    Building materials
    Wood Siding
    Roof type
    Asphalt
    Architectural style
    New Traditional

    We can help!

    Listing Contact
    Betsy Richard

    Prime Real Estate Partners (504) 289-4377

    Listing agent Betsy Richard (504) 400-4969

    Listing date Feb 5, 2026

    MLS# 2539354 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Turnkey Greek Revival Quadplex

    This Greek Revival property, located in the Lower Garden District, is fully leased and offers an exceptional opportunity. The building features 12 bedrooms, 4 full baths, and 4 half baths, divided into four townhome-style units. Each unit includes 3 bedrooms, 1.5 baths, and approximately 1,229 square feet. The property generates a monthly income of $7900. Each unit features a kitchen, living area, main-floor bedroom, and half bath on the first level, with two bedrooms, a full bath, and in-unit laundry upstairs. The units have private outdoor spaces, including front porches and treetop balconies for the front residences, and fenced brick patios with upper side porches for the rear units. The property includes central HVAC, a post-Ida roof, four separate meters, updated granite and stainless-steel kitchens with dishwashers, and a full-size washer and dryer in each unit. The building showcases hardwood floors and original brick fireplaces. The property is located 1.5 blocks from St. Charles Avenue and one block from Magazine Street, and a 10-minute streetcar ride to the French Quarter. The building has the potential to convert into individual condos for resale.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Law Firm Grocery & Convenience Store Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.0738866
    Latitude
    29.9373927

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    FAQs

    What type of property is this?
    Quadplex - Beautifully maintained, fully leased quadplex in a coveted New Orleans neighborhood.
    Where is this quadplex located?
    The property is located at 1415-17 Terpsichore St New Orleans, LA.
    What is the asking price?
    The asking price for this property is $999,000.
    What are key features of this property?
    This property features: - Prime Location: Lower Garden District, close to St. Charles Avenue, Magazine Street, and the French Quarter.; - Income-Generating Property: Fully leased with $7900 monthly income.; - Turnkey Condition: Beautifully maintained and updated.
    (504) 400-4969
    Request Owner's contact information
    1415-17 Terpsichore St New Orleans, LA 70130
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    New Orleans, LA 70130
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1415-17 Terpsichore St New Orleans, LA 70130
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    We can help!
    Listing Contact
    Betsy Richard
    (504) 400-4969
    Learn more
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