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    New Construction Duplex Income Opportunity Title is generated by Realmo AI

    2401-03 FELICIANA Street, New Orleans, LA 70117

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    For Sale
    $349,900

    MULTI_FAMILY - New Orleans, LA

    Property size:
    2,295 SF
    Lot size:
    0.08 Acres
    Price / SF:
    $152/SF
    Added:
    May 8, 2026
    Days on Market:
    29
    Last Refresh:
    Jun 5 at 3:06 am

    Property Features for 2401-03 FELICIANA Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Property condition
    Under Construction
    Standard status
    Active
    APN
    39W607601
    Size
    2,295 SF
    Lot size
    0.08 Acres

    Taxes and HOA fees

    Tax Description
    SQ 1311 LOTS 1 2 FELICIANA AND N ROCHEBLAVE 60X117 2/ST SGLE 6-APTS 3/RMS EA SGLE 5/RMS A/R

    Utilities

    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    2026
    Floors in Building
    2
    Number of units
    2
    Architectural style
    Other

    We can help!

    Listing Contact
    John McCann
    John McCann

    Listing agent John McCann License #995704833

    Listing office KELLER WILLIAMS REALTY 455-0100 3500 N Causeway Blvd Suite 350, Metairie, LA

    Listing date May 8, 2026

    MLS# 2555965 Listing URL

    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.

    HighLights

    • New construction duplex under construction, year built 2026
    • Each unit features 3 bedrooms and 2 full bathrooms
    • Central heating and central air with 10‑year A/C warranty
    • Public water source
    • Each unit includes a range, microwave hood, and stackable washer and dryer
    • Fortified roof

    Overview

    This newly constructed duplex includes two separate units, each designed with an open-concept living area, modern finishes, and abundant natural light. Both the downstairs and upstairs layouts provide three bedrooms and two full bathrooms. The downstairs unit features a covered front porch, while the upstairs unit offers a front porch and a private balcony. Practical in-unit amenities add to the move-in readiness, with each unit coming equipped with a range, microwave hood, and stackable washer and dryer. The property also includes a Fortified roof for added durability and potential insurance savings, and a 10-year warranty on the A/C.

    The property is located at 2401-03 Feliciana Street in New Orleans, in an area positioned for long-term value. The seller notes an adjacent new construction double at 2405-07 Feliciana Street is available as a package opportunity, which may appeal to investors seeking to expand with side-by-side income properties.

    With three-bedroom, two-bath configurations in each unit, this duplex can work well for owner-occupants who want to offset their mortgage through rental income, or for investors looking for consistent rental appeal from a comfortable, turnkey setup. The porches and private balcony add outdoor living options that can support tenant desirability, while the roof and A/C warranty features are intended to provide added peace of mind.

    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 $45.4k $19.80
    − Vacancy −$3.9k −$1.71
    EGI $41.5k $18.09
    − OpEx −$12.5k −$5.43
    NOI $29.1k $12.66
    2,295 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $415.1K
    $363.3K – $484.3K (±1% cap)
    NOI $29,060 @ 7.0% cap · market cap 8.31%
    Second Best
    Apartment 5plus
    $381.6K
    $333.9K – $445.2K (±1% cap)
    NOI $26,711 @ 7.0% cap · market cap 7.63%
    Theoretical Best
    Office A
    $583.3K
    $510.4K – $680.5K (±1% cap)
    NOI $40,832 @ 7.0% cap · market cap 11.67%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.0407892
    Latitude
    29.9812101

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    FAQs

    What type of property is this?
    Duplex - Move-in ready duplex offers two units with modern finishes, three bedrooms each, and porches plus balcony for strong rental appeal.
    Where is this duplex located?
    The property is located at 2401-03 FELICIANA Street New Orleans, LA.
    What is the asking price?
    The asking price for this property is $349,900.
    What are key features of this property?
    This property features: New construction duplex under construction, year built 2026; Each unit features 3 bedrooms and 2 full bathrooms; Central heating and central air with 10‑year A/C warranty
    (504) 669-8822
    We can help!
    Listing Contact
    John McCann
    John McCann
    Real Estate License ID: 995704833
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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