Victorian Triplex with Private
For Sale
$439,000
1827 BARONNE Street, New Orleans, LA 70113
Multi-Family, Victorian, New Orleans, LA
Property Size2,558 SF
Price / SF$171.62
Days on Market213
Property Features for 1827 BARONNE Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Patio and Porch features
Porch
Exterior features
Fence, Porch
Fencing
Fenced
Lot features
Regular
Standard status
Active
APN
1827-BARONNEST
Size
2,558 SF
Taxes and HOA fees
Tax Description
SQ 267 LOT 40 BARONNE ST 30X120 = 3600 SQ FT DBLE 1827/29 BARONNE ST
Legal Description
SQ 267 LOT 40 BARONNE ST 30X120 = 3600 SQ FT DBLE 1827/29 BARONNE ST
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
private laundry
large shared backyard
hardwood floors
tall ceilings
Building Details
Year built
1900
Floors in Building
2
Number of units
3
Architectural style
Victorian
Listing Agency:
McEnery Residential, LLC
(504) 605-4400
Listed By:
Lesley Poche · License #000017799
(504) 259-2561
Added: Feb 2
Changed: Aug 19
Last Checked: Sep 3 at 8:06PM
MLS# 2541125
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.
Built in 1900, this 2,558-square-foot Victorian triplex contains three residences, each with two bedrooms and one bathroom. The units feature independent bedrooms, refreshed kitchens and baths, hardwood flooring in the living areas and bedrooms, and tall ceilings. Private laundry areas and separate electric meters support distinct utility management for each residence.
Exterior features include a covered porch, fencing, and a large shared backyard. Central heating and central air conditioning serve the property, with public water provided. The property is a few blocks from St. Charles Ave. All current tenants are on month-to-month arrangements.
Exterior features include a covered porch, fencing, and a large shared backyard. Central heating and central air conditioning serve the property, with public water provided. The property is a few blocks from St. Charles Ave. All current tenants are on month-to-month arrangements.
Key Highlights
- Three‑unit Victorian property built in 1900
- 2,558 square feet with three 2‑bed/1‑bath units
- Updated kitchens and baths with hardwood floors
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
$32,391
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
7.38%
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%
$647,820
$647.8K
Cap Rate 7%
$462,729
$462.7K
Cap Rate 9%
$359,900
$359.9K
Market Conditions
NOI Build-Up for 2,558 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
$50.6K $19.80/SF
− Vacancy
−$4.4K −$1.71/SF
EGI
$46.3K $18.09/SF
− OpEx
−$13.9K −$5.43/SF
NOI
$32.4K $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%
$647,820
Cap Rate 7%
$462,729
Cap Rate 9%
$359,900
Alternative Uses
Best Use
Multifamily LT 5
$462.7K
$404.9K – $539.9K
NOI $32,391 @ 7.0% cap · market cap 7.38%
Second Best
Apartment 5plus
$425.3K
$372.2K – $496.2K
NOI $29,772 @ 7.0% cap · market cap 6.78%
Theoretical Best
Office A
$650.2K
$568.9K – $758.5K
NOI $45,511 @ 7.0% cap · market cap 10.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,948
Businesses Nearby
Explore this area
Business Placement
Demographics for 70113, LA
8,569
Population
5,512
Households
1.6
Avg Household Size
37
Median Age
27%
College-Educated
74%
High-School Grad
0.9 sq mi
ZIP Area
9,521
Density / Sq Mi
$36,897
Median Household Income
$31,126
Median Earnings
$960
Median Rent
$258,500
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?
Triplex - Three separately metered residences offer updated interiors, shared outdoor space, and month-to-month tenancy.
Where is this triplex located?
The property is located at 1827 BARONNE Street New Orleans, LA.
What is the asking price?
The asking price for this property is $439,000.
What are key features of this property?
This property features: Three‑unit Victorian property built in 1900; 2,558 square feet with three 2‑bed/1‑bath units; Updated kitchens and baths with hardwood floors
