New Orleans Income
For Sale
$250,000
1870 N ROMAN Street, New Orleans, LA 70116
Multi-Family, Shot Gun, New Orleans, LA
Property Size1,948 SF
Price / SF$128.34
Days on Market328
Property Features for 1870 N ROMAN Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Off Street
Subdivision
Not a Subdivision
Lot features
Regular
Standard status
Active
APN
37W109626
Size
1,948 SF
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2008
Floors in Building
1
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
Keller Williams Realty Services
(985) 727-7000
Listed By:
Shannon Wells-Guidry · License #995691606
(985) 727-7000
Added: Oct 2, 2025
Changed: Aug 19
Last Checked: Aug 25 at 11:06AM
MLS# 2524637
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 income-producing multifamily property is located in New Orleans, LA. The property has a size of 1948 square feet. It is tenant occupied. Showings require a minimum of 48 hours advance notice and must be conducted by a licensed real estate agent.
Key Highlights
- Income‑producing property
- Enjoy year‑round comfort with central heating and central air conditioning
- Benefit from the convenience of off‑street parking
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
$22,672
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
9.07%
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%
$453,440
$453.4K
Cap Rate 7%
$323,886
$323.9K
Cap Rate 9%
$251,911
$251.9K
Market Conditions
NOI Build-Up for 1,948 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
$45.3K $23.28/SF
− Vacancy
−$4.1K −$2.12/SF
EGI
$41.2K $21.16/SF
− OpEx
−$18.6K −$9.52/SF
NOI
$22.7K $11.64/SF
Area
New Orleans, LA
Vacancy
9.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$453,440
Cap Rate 7%
$323,886
Cap Rate 9%
$251,911
Alternative Uses
Best Use
Multifamily LT 5
$352.4K
$308.3K – $411.1K
NOI $24,667 @ 7.0% cap · market cap 9.87%
Second Best
Apartment 5plus
$323.9K
$283.4K – $377.9K
NOI $22,672 @ 7.0% cap · market cap 9.07%
Theoretical Best
Office A
$495.1K
$433.2K – $577.6K
NOI $34,658 @ 7.0% cap · market cap 13.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,266
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Income-producing multifamily property in New Orleans, tenant occupied.
Where is this duplex located?
The property is located at 1870 N ROMAN Street New Orleans, LA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Income‑producing property; Enjoy year‑round comfort with central heating and central air conditioning; Benefit from the convenience of off‑street parking
