Updated Two-Unit
For Sale
$299,000
Pending
204 CHEROKEE Street, New Orleans, LA 70118
Multi-Family, Shot Gun, New Orleans, LA
Property Size1,792 SF
Days on Market75
Property Features for 204 CHEROKEE Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Off Street, Driveway
Patio and Porch features
Porch
Exterior features
Porch
Lot features
Condo
Subdivision
Black Pearl
Standard status
Pending
APN
204-CHEROKEEST
Size
1,792 SF
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
cathedral ceilings
fireplace
laundry
front yard
rear patio
Building Details
Year built
1985
Floors in Building
1
Number of units
2
Roof type
Metal
Architectural style
Other
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
(504) 455-0100
Listed By:
Sandy Duplessis · License #99562625
(504) 756-7136
Added: Jul 23
Changed: Sep 16
Last Checked: Oct 5 at 10:06PM
MLS# 2569045
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 1,792-square-foot duplex, built in 1985, contains two separate one-bedroom, one-bath residences. Each unit includes a living room with cathedral ceilings, a fireplace, laundry, a small front yard, a rear patio, and one off-street parking space. One side has been updated, while the second unit is leased through December 2026. The property is served by central heating, central air, public water, and a metal roof.
The duplex is located in New Orleans’ Black Pearl neighborhood near Audubon Park, the St. Charles streetcar line, Uptown universities, and the Mississippi River levee. Its address is 204 CHEROKEE Street, New Orleans, LA 70118. The property is in Flood Zone X and includes a porch, driveway, and off-street parking.
The duplex is located in New Orleans’ Black Pearl neighborhood near Audubon Park, the St. Charles streetcar line, Uptown universities, and the Mississippi River levee. Its address is 204 CHEROKEE Street, New Orleans, LA 70118. The property is in Flood Zone X and includes a porch, driveway, and off-street parking.
Key Highlights
- 1,792‑square‑foot duplex with two separate 1‑bedroom, 1‑bath units
- One residence has been updated; the other is leased through December 2026
- Each unit includes a fireplace, laundry, cathedral‑ceilinged living room, rear patio, and small front yard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,691
Cap Rate
7.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$453,820
$453.8K
Cap Rate 7%
$324,157
$324.2K
Cap Rate 9%
$252,122
$252.1K
Market Conditions
NOI Build-Up for 1,792 SF
Gross rent
$35.5K $19.80/SF
− Vacancy
−$3.1K −$1.71/SF
EGI
$32.4K $18.09/SF
− OpEx
−$9.7K −$5.43/SF
NOI
$22.7K $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 Rate 5%
$453,820
Cap Rate 7%
$324,157
Cap Rate 9%
$252,122
Alternative Uses
Best Use
Multifamily LT 5
$324.2K
$283.6K – $378.2K
NOI $22,691 @ 7.0% cap · market cap 7.59%
Second Best
Apartment 5plus
$298.0K
$260.7K – $347.6K
NOI $20,857 @ 7.0% cap · market cap 6.98%
Theoretical Best
Office A
$455.5K
$398.5K – $531.4K
NOI $31,883 @ 7.0% cap · market cap 10.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
978
Businesses Nearby
Explore this area
Business Placement
Demographics for 70118, LA
35,635
Population
15,464
Households
2.3
Avg Household Size
31
Median Age
54%
College-Educated
92%
High-School Grad
4.6 sq mi
ZIP Area
7,747
Density / Sq Mi
$62,665
Median Household Income
$28,199
Median Earnings
$1,257
Median Rent
$451,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Two one-bedroom residences with private outdoor areas, fireplaces, laundry, and off-street parking.
Where is this duplex located?
The property is located at 204 CHEROKEE Street New Orleans, LA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 1,792‑square‑foot duplex with two separate 1‑bedroom, 1‑bath units; One residence has been updated; the other is leased through December 2026; Each unit includes a fireplace, laundry, cathedral‑ceilinged living room, rear patio, and small front yard
