Renovated Duplex with Separate Living
For Sale
$249,900
2231 ARTS Street, New Orleans, LA 70117
Multi-Family, Arts and Crafts, New Orleans, LA
Property Size1,974 SF
Price / SF$126.60
Days on Market146
Property Features for 2231 ARTS Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Patio and Porch features
Porch
Exterior features
Balcony, Porch
Lot features
Regular
Standard status
Active
APN
2231-ARTSST
Size
1,974 SF
Taxes and HOA fees
Tax Description
SQ 1166 LOT 16 ARTS 32X110 FR SGLE 8/RMS A/R SEE E002
Legal Description
SQ 1166 LOT 16 ARTS 32X110 FR SGLE 8/RMS A/R SEE E002
Utilities
Heating system
Central, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
balconies/porches
rain barrels with gutters
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Roof type
Shingle, Asphalt
Architectural style
Other
Listing Agency:
Keller Williams Realty New Orleans
(504) 862-0100
Listed By:
Steven Flynn · License #995703619
(504) 975-1150
Added: May 16
Changed: Oct 6
Last Checked: Oct 8 at 2:06AM
MLS# 2573237
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.
Rebuilt from the studs in 2016, this 1,974-square-foot duplex provides two distinct residences within a 1920 structure. Each living space has its own full kitchen and HVAC system, creating functional separation for an owner-occupant, household members, guests, or a tenant. The property also includes three balconies or porches, blown insulation, VOC-free finished pine flooring, gutters, and rain barrels. Central heating uses natural gas, while cooling is provided by central air. The roof is shingle and asphalt, and the property is connected to public water.
The home is located two blocks from the St Roch Greenway and near Morris Jeff High School and the International School of Louisiana. Its New Orleans location provides access to much of the city within roughly twelve minutes, according to the provided property information.
The home is located two blocks from the St Roch Greenway and near Morris Jeff High School and the International School of Louisiana. Its New Orleans location provides access to much of the city within roughly twelve minutes, according to the provided property information.
Key Highlights
- Two independent living spaces under one roof
- 1,974 square feet across a duplex configuration
- Rebuilt from the studs in 2016
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,975
Cap Rate
9.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$459,500
$459.5K
Cap Rate 7%
$328,214
$328.2K
Cap Rate 9%
$255,278
$255.3K
Market Conditions
NOI Build-Up for 1,974 SF
Gross rent
$46.0K $23.28/SF
− Vacancy
−$4.2K −$2.12/SF
EGI
$41.8K $21.16/SF
− OpEx
−$18.8K −$9.52/SF
NOI
$23.0K $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 Rate 5%
$459,500
Cap Rate 7%
$328,214
Cap Rate 9%
$255,278
Alternative Uses
Best Use
Multifamily LT 5
$357.1K
$312.5K – $416.6K
NOI $24,996 @ 7.0% cap · market cap 10.00%
Second Best
Apartment 5plus
$328.2K
$287.2K – $382.9K
NOI $22,975 @ 7.0% cap · market cap 9.19%
Theoretical Best
Office A
$501.7K
$439.0K – $585.4K
NOI $35,121 @ 7.0% cap · market cap 14.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
581
Businesses Nearby
Explore this area
Business Placement
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two independent residences offer flexible owner-occupant, multigenerational, or tenant arrangements.
Where is this duplex located?
The property is located at 2231 ARTS Street New Orleans, LA.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two independent living spaces under one roof; 1,974 square feet across a duplex configuration; Rebuilt from the studs in 2016
