Two-Story Duplex with
2405 07 MILAN Street New Orleans, LA 70115
2405 07 MILAN Street, New Orleans, LA, 70115
$549,000
For Sale
$549,000
Craftsman, Other - New Orleans, LA
Property Size2,878 SF
Price / SF$190.76
Days on Market10
Property Features for 2405 07 MILAN Street
General Information
- Property type
- Other
- Property subtype
- Duplex
- Bedrooms
- 4
- Bathrooms
- 6
- Rooms
- Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
- Parking features
- None
- Standard status
- Active
- APN
- 614325116
- Size
- 2,878 SF
Utilities
- Heating system
- Ductless (Heating), Wall Furnace
- Cooling system
- Ductless, Multi Units, Wall Unit(s)
Building Details
- Year built
- 1925
- Floors in Building
- 2
- Roof type
- Shingle
- Architectural style
- Craftsman
Listing Agency
Engel & Völkers New Orleans
(504) 234-5000
2844 Magazine Street, New Orleans, LA
Listed by
Kiley Martin
(504) 957-3019
Added: Jul 9 Checked: Jul 18 at 2:06 pm
MLS# 2564943
Listing URL
Copyright © 2026 Engel & Völkers. 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 two-story duplex offers a practical layout for separate living spaces, with two bedrooms and 2.5 baths on each side plus additional bonus space. Interior finishes include wood floors and high ceilings throughout. Exterior features include a huge front porch, a back yard, and storage. Updates include renovated bathrooms and kitchens, and central mini-splits for heating and cooling. Solar panels are installed on the owner’s side.
Located in the Uptown area, the property sits right off the Freret corridor and is described as being across from a new Trader Joe’s. It is also noted to be close to universities and restaurants, and the location is right off the parade route.
Overall, the home is presented as a roomy double with multiple upgrades and an improved comfort package, including mini-splits and solar on one side.
Located in the Uptown area, the property sits right off the Freret corridor and is described as being across from a new Trader Joe’s. It is also noted to be close to universities and restaurants, and the location is right off the parade route.
Overall, the home is presented as a roomy double with multiple upgrades and an improved comfort package, including mini-splits and solar on one side.
Key Highlights
- Large 2‑story craftsman double with 2 bedrooms and 2.5 baths on each side, plus bonus space
- Renovated kitchens and renovated bathrooms, with wood floors and high ceilings throughout
- Central mini‑splits/ductless wall units for heating and cooling (heating: ductless, wall furnace; cooling: ductless, multi units)
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 | $38.7k | $13.44 |
| − Vacancy | −$3.3k | −$1.16 |
| EGI | $35.3k | $12.28 |
| − OpEx | −$10.6k | −$3.68 |
| NOI | $24.7k | $8.60 |
2,878 SF · lease $13.44/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$353.4K
$309.2K – $412.3K
NOI $24,737 @ 7.0% cap · market cap 4.51%
Second Best
Apartment 5plus
$313.3K
$274.1K – $365.5K
NOI $21,928 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$759.3K
$664.4K – $885.9K
NOI $53,151 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Spacious two-story duplex with two bedrooms and 2.5 baths per side, renovated interiors, and solar on the owner’s side.
Where is this duplex located?
The property is located at 2405 07 MILAN Street New Orleans, LA.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Large 2‑story craftsman double with 2 bedrooms and 2.5 baths on each side, plus bonus space; Renovated kitchens and renovated bathrooms, with wood floors and high ceilings throughout; Central mini‑splits/ductless wall units for heating and cooling (heating: ductless, wall furnace; cooling: ductless, multi units)
