Updated Duplex With Private Outdoor
2242 STATE Street New Orleans, LA 70118
2242 STATE Street, New Orleans, LA, 70118
$795,000
For Sale
$795,000
MULTI_FAMILY - New Orleans, LA
Property Size2,367 SF
Price / SF$335.87
Days on Market17
Property Features for 2242 STATE Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Parking features
- Off Street, Driveway
- Patio and Porch features
- Porch
- Exterior features
- Fence, Porch
- Fencing
- Fenced
- Standard status
- Active
- APN
- 615113838
- Size
- 2,367 SF
Taxes and HOA fees
- Tax Description
- BLOOMINGDALE SQ UPPERSIDE STATE LOT 90 STATE ST 2242-44 STATE ST
Utilities
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1938
- Floors in Building
- 2
- Number of units
- 2
- Roof type
- Shingle
- Architectural style
- Other
Listing agency
Homesmart Realty South
(504) 908-7653
Listed by
Robyn Schmitt · License #995687935
(504) 908-5037
Added: Jul 7 Updated: Jul 21 at 6:02PM Checked: Jul 23 at 5:06AM
MLS# 2565741
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 updated duplex features two separate units with in-unit washers and dryers, stainless steel kitchen appliances, and direct access to private outdoor space. Common amenities and finishes include front floor-to-ceiling windows, an upstairs foyer with original wood floors, and a downstairs unit with vinyl flooring and a renovated kitchen. Outdoor space is designed for both levels, with an expansive upper wooden deck and a covered patio below, opening to a shared yard and a storage shed. Two of the four bathrooms include newer oversized walk-in showers, while the third bath includes renovated marble basketweave floor tile and subway tub tile.
The property sits on an oversized lot with fenced yard, street-to-street layout, and rear access. Dual entry parking accommodates approximately five vehicles across front and rear spaces, with direct access via State Street or Magnolia Street.
Recent major capital improvements noted in the remarks include a roof completed in 2023, a new under-house sewer line about 15 feet completed in 2021, and foundation work completed in 2022. The water heater is noted as replaced in 2026. The property is tenant occupied, and appointments require a minimum 24-hour notice through ShowingTime.
The property sits on an oversized lot with fenced yard, street-to-street layout, and rear access. Dual entry parking accommodates approximately five vehicles across front and rear spaces, with direct access via State Street or Magnolia Street.
Recent major capital improvements noted in the remarks include a roof completed in 2023, a new under-house sewer line about 15 feet completed in 2021, and foundation work completed in 2022. The water heater is noted as replaced in 2026. The property is tenant occupied, and appointments require a minimum 24-hour notice through ShowingTime.
Key Highlights
- Updated duplex on an Uptown historic street with public water and shingle roof; built in 1938
- Generates $7,500/month revenue per provided remarks; tenant occupied with 24‑hour notice required
- Major improvements listed: roof approx. 3 years old (2023), new under‑house ~15‑ft sewer line (2021), foundation work (2022), HWH 2026
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $46.9k | $19.80 |
| − Vacancy | −$4.0k | −$1.71 |
| EGI | $42.8k | $18.09 |
| − OpEx | −$12.8k | −$5.43 |
| NOI | $30.0k | $12.66 |
2,367 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$428.2K
$374.7K – $499.5K
NOI $29,972 @ 7.0% cap · market cap 3.77%
Second Best
Apartment 5plus
$393.6K
$344.4K – $459.2K
NOI $27,549 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$601.6K
$526.4K – $701.9K
NOI $42,113 @ 7.0% cap · market cap 5.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Updated duplex with two units, each with private outdoor access, plus dual entry parking and an on-site storage shed.
Where is this duplex located?
The property is located at 2242 STATE Street New Orleans, LA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Updated duplex on an Uptown historic street with public water and shingle roof; built in 1938; Generates $7,500/month revenue per provided remarks; tenant occupied with 24‑hour notice required; Major improvements listed: roof approx. 3 years old (2023), new under‑house ~15‑ft sewer line (2021), foundation work (2022), HWH 2026
