Residential Income Duplex
For Sale
$399,000
2817 UPPERLINE Street, New Orleans, LA 70115
Multi-Family, Raised Basement, New Orleans, LA
Property Size2,314 SF
Lot Size0.15 Acres
Price / SF$172.43
Days on Market164
Property Features for 2817 UPPERLINE Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Driveway
Patio and Porch features
Porch
Exterior features
Fence, Porch
Fencing
Fenced
Lot features
Oversized
Subdivision
Uptown
Standard status
Active
APN
614335710
Size
2,314 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Description
SQ 655 LOT 14 UPPERLINE 30X224 OVER 220 2817-19 UPPERLINE ST DU-RAISED-W FILE #86767 1/04 SALW
Legal Description
SQ 655 LOT 14 UPPERLINE 30X224 OVER 220 2817-19 UPPERLINE ST DU-RAISED-W FILE #86767 1/04 SALW
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Roof type
Shingle, Asphalt
Architectural style
Other
Listing Agency:
eXp Realty, LLC
(337) 522-7554
Listed By:
Michael Humphrey · License #995707327
(504) 756-3133
Added: Mar 24
Changed: Aug 26
Last Checked: Sep 3 at 12:06AM
MLS# 2548334
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 offering combines two lots of record sold together, totaling a 60' x 220' parcel. One lot is vacant, and the other includes an improved raised-basement Craftsman-era double that has been consistently tenant-occupied. Over time, some electrical and cosmetic updates have been made; however, the property will require a full renovation.
The seller states inspections are for informational purposes only, with no repairs or concessions. The property is also listed as vacant land separately, and the parcels have separate tax bills; however, the lots are not being sold individually.
The existing configuration is a duplex structure with a raised basement on the improved lot, positioned alongside the adjacent vacant lot as part of a single combined sale.
The seller states inspections are for informational purposes only, with no repairs or concessions. The property is also listed as vacant land separately, and the parcels have separate tax bills; however, the lots are not being sold individually.
The existing configuration is a duplex structure with a raised basement on the improved lot, positioned alongside the adjacent vacant lot as part of a single combined sale.
Key Highlights
- 60' x 220' parcel (220' deep) with two lots of record sold together
- Property includes one vacant lot plus an improved Craftsman‑era double with raised basement
- Existing structure has been consistently tenant‑occupied; inspections are for informational purposes only and seller makes no repairs
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,889
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.98%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$397,780
$397.8K
Cap Rate 7%
$284,129
$284.1K
Cap Rate 9%
$220,989
$221.0K
Market Conditions
NOI Build-Up for 2,314 SF
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.
Gross rent
$31.1K $13.44/SF
− Vacancy
−$2.7K −$1.16/SF
EGI
$28.4K $12.28/SF
− OpEx
−$8.5K −$3.68/SF
NOI
$19.9K $8.60/SF
Area
ZIP 70115
Vacancy
8.64%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$397,780
Cap Rate 7%
$284,129
Cap Rate 9%
$220,989
Alternative Uses
Best Use
Multifamily LT 5
$284.1K
$248.6K – $331.5K
NOI $19,889 @ 7.0% cap · market cap 4.98%
Second Best
Apartment 5plus
$251.9K
$220.4K – $293.9K
NOI $17,631 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$610.5K
$534.2K – $712.3K
NOI $42,735 @ 7.0% cap · market cap 10.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,617
Businesses Nearby
Explore this area
Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Parcel includes a vacant lot and a tenant-occupied raised-basement double requiring renovation or redevelopment.
Where is this duplex located?
The property is located at 2817 UPPERLINE Street New Orleans, LA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 60' x 220' parcel (220' deep) with two lots of record sold together; Property includes one vacant lot plus an improved Craftsman‑era double with raised basement; Existing structure has been consistently tenant‑occupied; inspections are for informational purposes only and seller makes no repairs
