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    2612-2614 St. Philip St New Orleans, LA 70113

    Sponsored
    For Sale
    Under Contract
    $299,000

    Duplex, Shot Gun - New Orleans, LA

    Type:Duplex
    Property size:
    1,517 SF
    Days on Market:
    3
    Last Refresh:
    Feb 4 at 4:06 am

    Property Features for 2612-2614 St. Philip St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Standard status
    Active Under Contract
    Rooms
    Laundry
    EntryLevel
    1
    Exterior features
    Fence
    Fencing
    Fenced
    Size
    1,517 SF

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Floors in Building
    1
    Number of units
    2
    Building materials
    Wood Siding
    Roof type
    Asphalt, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Brittany Picolo

    HODC LLC dba Keller Williams Realty New Orleans (504) 862-0100

    Listing agent Brittany Picolo (504) 862-0100

    Listing date Feb 2, 2026

    MLS# 2540240 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.

    Learn more

    Overview

    Renovated Mid-City New Orleans Duplex

    This fully renovated duplex in Mid-City New Orleans presents an opportunity for investors or owner-occupants. Located on St Philip Street, the property provides access to dining, parks, medical facilities, downtown New Orleans, and transportation routes. The building contains two separate units, each featuring 2 bedrooms and 1 bathroom, with approximately 758 square feet of living space per unit. Each unit includes an open living and dining area that connects to a modern kitchen. The kitchens are equipped with white shaker cabinets, solid surface countertops, updated appliances, and contemporary finishes. The units feature tall ceilings, ceiling fans, and large windows. Wood-look flooring is installed throughout the living areas and bedrooms. Bedrooms offer closet space, and bathrooms have been updated with modern fixtures. Exterior features include a raised foundation, individual front porches, and private rear outdoor areas for each unit. Updated systems and finishes have been installed. The property is suitable for investors seeking a turnkey rental, owner-occupants looking to live in one unit and lease the other, or buyers expanding a multi-family portfolio. The property size is 1517 Square Feet and the lot size is 0 acres.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Map

    City
    New Orleans
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.0828
    Latitude
    29.9429

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    FAQs

    What type of property is this?
    Duplex - Fully renovated duplex in Mid-City, New Orleans with strong rental appeal.
    Where is this duplex located?
    The property is located at 2612-2614 St. Philip St New Orleans, LA.
    What is the asking price?
    The asking price for this property is $299,000.
    What are key features of this property?
    This property features: - Fully renovated duplex in desirable Mid-City location; - Two separate 2-bedroom, 1-bath units, each with 758 sq ft of living space; - Modern kitchens with white shaker cabinets and solid surface countertops
    (504) 862-0100
    Request Owner's contact information
    2612-2614 St. Philip St New Orleans, LA 70113
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    New Orleans, LA 70113
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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.

    More about this property
    2612-2614 St. Philip St New Orleans, LA 70113
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    We can help!
    Listing Contact
    Brittany Picolo
    (504) 862-0100
    Learn more
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