Charming New Orleans
For Sale
$350,000
1472 N PRIEUR Street, New Orleans, LA 70116
MULTI_FAMILY - New Orleans, LA
Property Size1,997 SF
Lot Size0.08 Acres
Price / SF$175.26
Days on Market143
Property Features for 1472 N PRIEUR Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Exterior features
Fence
Fencing
Fenced
Lot features
Regular
Subdivision
Esplanade Ridge
Standard status
Active
APN
37W111320
Size
1,997 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Description
SQ 896 LOT 21 OR PT 18 N PRIEUR 33 X 100 DBLE 1/ST 5/RMS S/R SEE E RECORD TAX SALE
Legal Description
SQ 896 LOT 21 OR PT 18 N PRIEUR 33 X 100 DBLE 1/ST 5/RMS S/R SEE E RECORD TAX SALE
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1920
Floors in Building
1
Number of units
2
Roof type
Shingle
Architectural style
Victorian
Listing Agency:
Crescent City Living, LLC
(504) 327-5303
Listed By:
Leslie Heindel · License #995688679
(504) 975-4252
Added: Apr 15
Changed: Jun 8
Last Checked: Sep 4 at 3:06AM
MLS# 2553121
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.
Located on a desirable block in the Esplanade Ridge neighborhood, this New Orleans double offers a blend of timeless charm and a modern floor plan. The side hall layout provides independent bedrooms and privacy. The property retains the character of a historic home, featuring hardwood floors, architectural brackets, 12-foot ceilings, and claw-foot tubs. Modern updates include newer windows, updated kitchens, and larger bathrooms. The kitchen has been upgraded with stainless steel appliances and granite countertops, and is spacious enough for a table or a large kitchen island. The property includes a backyard with a deck and grass. The location provides walkability to Jazz Fest, biking distance to City Park, and a short drive to the French Quarter. Nearby amenities include Old Road Coffee and The Flagpole, as well as proximity to Esplanade Ave, Pagoda Cafe, Leo's Bakery, and the Degas house. The property is situated in an X flood zone and has a termite contract and separate meters for both units. The property size is 1997 square feet and the lot size is 0.0758 acres.
Key Highlights
- 1920 Victorian New Orleans double with side hall layout and separate, private bedrooms
- Historic details include hardwood floors, architectural brackets, and 12' ceilings, plus claw‑foot tubs
- Updated kitchen with stainless steel appliances and granite countertops
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
$25,287
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
7.22%
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%
$505,740
$505.7K
Cap Rate 7%
$361,243
$361.2K
Cap Rate 9%
$280,967
$281.0K
Market Conditions
NOI Build-Up for 1,997 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
$39.5K $19.80/SF
− Vacancy
−$3.4K −$1.71/SF
EGI
$36.1K $18.09/SF
− OpEx
−$10.8K −$5.43/SF
NOI
$25.3K $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%
$505,740
Cap Rate 7%
$361,243
Cap Rate 9%
$280,967
Alternative Uses
Best Use
Multifamily LT 5
$361.2K
$316.1K – $421.5K
NOI $25,287 @ 7.0% cap · market cap 7.22%
Second Best
Apartment 5plus
$332.0K
$290.5K – $387.4K
NOI $23,243 @ 7.0% cap · market cap 6.64%
Theoretical Best
Office A
$507.6K
$444.1K – $592.2K
NOI $35,530 @ 7.0% cap · market cap 10.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12 ft
Clear height
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,454
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 - Historic double with modern updates in Esplanade Ridge.
Where is this duplex located?
The property is located at 1472 N PRIEUR Street New Orleans, LA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1920 Victorian New Orleans double with side hall layout and separate, private bedrooms; Historic details include hardwood floors, architectural brackets, and 12' ceilings, plus claw‑foot tubs; Updated kitchen with stainless steel appliances and granite countertops
