Two-Unit Duplex with Screened
For Sale
$400,000
2130 ROBERT Street, New Orleans, LA 70115
Multi-Family, Traditional, New Orleans, LA
Property Size3,470 SF
Lot Size0.10 Acres
Price / SF$115.27
Days on Market139
Property Features for 2130 ROBERT Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Off Street
Patio and Porch features
Porch
Exterior features
Courtyard, Fence, Porch Screened In
Fencing
Fenced
Lot features
Oversized
Subdivision
Freret
Standard status
Active
APN
614323513
Size
3,470 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Description
SQ 569 LOT B ROBERT 41X111 FILE #56748-A 3-83 2130-32 ROBERT ST DUP-W FILE #90225 2/06 DONATN
Legal Description
SQ 569 LOT B ROBERT 41X111 FILE #56748-A 3-83 2130-32 ROBERT ST DUP-W FILE #90225 2/06 DONATN
Utilities
Heating system
Ductless (Heating), Other (Heating)
Cooling system
Window Unit(s)
Water source
Public
Amenities
sunroom
screened porch
patio
driveway
laundry room
Building Details
Year built
1940
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
REVE, REALTORS
(504) 300-0700
Listed By:
Zachary Russell
(504) 493-9770
Added: Apr 17
Changed: Sep 1
Last Checked: Sep 2 at 3:06PM
MLS# 2550747
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 1940 duplex contains two separately metered residences, each arranged on its own floor with a sunroom, living room, dining room, kitchen, bedrooms, and bathroom. The property totals 3,470 square feet. The lower residence includes custom wood cabinetry, slate flooring, hardwood floors beneath bedroom carpeting, and a bathroom remodeled in 2026 with built-in space for a stackable washer and dryer. The upper residence has a butler’s pantry, a separate laundry room, three bedrooms, and one bathroom. Screened porches extend the living areas, while a driveway and large rear patio provide outdoor utility. Additional physical features include a fenced courtyard, shingle roof, public water, ductless and other heating, window-unit cooling, and off-street parking. The property is located on Robert Street in New Orleans, within ZIP code 70115 and the Freret neighborhood.
Key Highlights
- Two separately metered residences within a 3,470‑square‑foot duplex
- Each unit occupies its own floor and includes a sunroom, living room, dining room, kitchen, bedrooms, and bathroom
- Upper unit includes 3 bedrooms, 1 bathroom, a butler’s pantry, and separate laundry room
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
$29,825
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
7.46%
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%
$596,500
$596.5K
Cap Rate 7%
$426,071
$426.1K
Cap Rate 9%
$331,389
$331.4K
Market Conditions
NOI Build-Up for 3,470 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
$46.6K $13.44/SF
− Vacancy
−$4.0K −$1.16/SF
EGI
$42.6K $12.28/SF
− OpEx
−$12.8K −$3.68/SF
NOI
$29.8K $8.60/SF
Area
ZIP 70115
Vacancy
8.64%
Lease Rate
$13.44 /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%
$596,500
Cap Rate 7%
$426,071
Cap Rate 9%
$331,389
Alternative Uses
Best Use
Multifamily LT 5
$426.1K
$372.8K – $497.1K
NOI $29,825 @ 7.0% cap · market cap 7.46%
Second Best
Apartment 5plus
$377.7K
$330.5K – $440.7K
NOI $26,439 @ 7.0% cap · market cap 6.61%
Theoretical Best
Office A
$915.5K
$801.1K – $1.07M
NOI $64,084 @ 7.0% cap · market cap 16.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,612
Businesses Nearby
Explore this area
Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
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 - Separately metered residences offer traditional room layouts, off-street parking, and a fenced outdoor gathering area.
Where is this duplex located?
The property is located at 2130 ROBERT Street New Orleans, LA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Two separately metered residences within a 3,470‑square‑foot duplex; Each unit occupies its own floor and includes a sunroom, living room, dining room, kitchen, bedrooms, and bathroom; Upper unit includes 3 bedrooms, 1 bathroom, a butler’s pantry, and separate laundry room
