Charming Income-Generating New Orleans
1632 N GALVEZ Street, New Orleans, LA 70119
MULTI_FAMILY - New Orleans, LA
Property size:
1,996 SFLot size:
0.09 AcresPrice / SF:
$175/SF- Added:
- Nov 19, 2025
- Days on Market:
- 188
- Last Refresh:
- May 26 at 5:06 pm
Property Features for 1632 N GALVEZ Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- Off Street, Driveway
- Exterior features
- Fence
- Fencing
- Fenced
- Standard status
- Active
- APN
- 37W201414
- Size
- 1,996 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Description
- SQ 1037 LOT 7 N GALVEZ ST 31X132 SGLE 7/RM S/R
Utilities
- Heating system
- Central
- Cooling system
- Central Air, Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1902
- Floors in Building
- 1
- Number of units
- 2
- Roof type
- Shingle, Asphalt
- Architectural style
- Other
Listing agent Louis Williams License #73679 (985) 727-7000
Listing office Keller Williams Realty Services 1522 W. Causeway Approach, Mandeville, LA (985) 727-7000
Listing date Nov 19, 2025
MLS# 2531397
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.
HighLights
- Income Potential: Separate 1 bed/1 bath cottage with proven rental history, generating $3200/month when fully leased.
- Prime Location: Minutes from the CBD, close to the French Quarter and the Fairgrounds in a high‑demand area.
- Flexible Living Options: Main home (4 bed/2 bath) plus independent cottage allows for owner occupancy and rental income.
- Move‑In Ready: Includes a home warranty and the cottage is fully furnished.
- Outdoor Appeal: Features a classic front porch, rear deck with tropical gardens and decorative lighting.
- Flood Zone X: Offers added peace of mind.
Overview
This property offers comfort, character, and income potential. The main home includes 4 bedrooms and 2 baths, plus an independent 1 bedroom, 1 bath cottage in the rear. When fully leased, the property generated 3200 dollars per month from long term tenants who only moved due to relocation. The main home has been maintained to preserve its historical charm. The layout flows with a bright living room, a dedicated office with French doors, a cozy den, a dining area with large windows, and a kitchen at the center of the home with cabinet space and stainless appliances. The primary bedroom sits at the rear with a private en suite and a walk in closet. There is also a second full bath, a laundry room with shelving, central air and heat, and ceiling fans throughout. Outdoor spaces include a front porch and a rear deck with tropical gardens and decorative lighting. The property includes off street parking, with the driveway currently being extended to allow additional parking space, along with full perimeter fencing. The rear cottage features a comfortable bedroom, a combined living and dining area, a full kitchen, and its own bath. With porcelain tile floors, its own air and heat unit, and ceiling fans throughout, it is fully furnished. Located minutes from the CBD, close to the French Quarter and the Fairgrounds, this home sits in a high demand area. The property is in Flood Zone X and includes a home warranty. The property size is 1996 Square Feet and the lot size is 0.0939 acres.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$280.8K
NOI $25,274 @ 9.00% cap · cautious / downside scenario
Moderate
$361.1K
NOI $25,274 @ 7.00% cap · market / base-case scenario
Aggressive
$505.5K
NOI $25,274 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $39.5k | $19.80 |
| − Vacancy | −$3.4k | −$1.71 |
| EGI | $36.1k | $18.09 |
| − OpEx | −$10.8k | −$5.43 |
| NOI | $25.3k | $12.66 |
1,996 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$361.1K
$315.9K – $421.2K
NOI $25,274 @ 7.0% cap · market cap 7.22%
Second Best
Apartment 5plus
$331.9K
$290.4K – $387.2K
NOI $23,231 @ 7.0% cap · market cap 6.64%
Theoretical Best
Office A
$522.3K
$457.0K – $609.3K
NOI $36,560 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- New Orleans
- County
- Jefferson
- State
- Louisiana
- Longitude
- -90.06937
- Latitude
- 29.976227
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Comfortable home with income potential near French Quarter.
Where is this duplex located?
The property is located at 1632 N GALVEZ 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: Income Potential: Separate 1 bed/1 bath cottage with proven rental history, generating $3200/month when fully leased.; Prime Location: Minutes from the CBD, close to the French Quarter and the Fairgrounds in a high‑demand area.; Flexible Living Options: Main home (4 bed/2 bath) plus independent cottage allows for owner occupancy and rental income.
