Updated Quadplex with On-Site
For Sale
$435,000
300 DUKE Drive, Kenner, LA 70065
MULTI_FAMILY - Kenner, LA
Property Size3,353 SF
Price / SF$129.73
Days on Market607
Property Features for 300 DUKE Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Off Street, Driveway
Patio and Porch features
Porch
Exterior features
Balcony, Porch
Subdivision
University City
Lot features
Corner
Standard status
Active
APN
0920012622
Size
3,353 SF
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
on-site laundry facility
Building Details
Year built
1976
Floors in Building
2
Number of units
4
Listing Agency:
Realty One Group Immobilia
(985) 218-8081
Listed By:
Mary Dana Dandry · License #995689184
(504) 208-0515
Added: Jan 1, 2025
Changed: Aug 3
Last Checked: Aug 31 at 10:06AM
MLS# 2480816
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 3,353-square-foot quadplex, built in 1976, contains four residential units with updated interiors. Improvements include fresh drywall on ceilings, walls, and doors; laminate wood flooring in living areas and bedrooms; tiled bathrooms; contemporary cabinetry; granite kitchen countertops; and updated appliances. Units also feature generously sized bedrooms and spacious closets. A four-year-old roof, along with recently replaced soffits, fascia, and gutters, adds to the property's current physical improvements.
The property provides private off-street parking on both sides of the complex, with driveway parking also available. Exterior features include balconies and porches. A newly installed on-site laundry facility is reserved for tenants and includes a new washer and dryer serving all four units. Central heating, central air, and public water are also in place.
The property provides private off-street parking on both sides of the complex, with driveway parking also available. Exterior features include balconies and porches. A newly installed on-site laundry facility is reserved for tenants and includes a new washer and dryer serving all four units. Central heating, central air, and public water are also in place.
Key Highlights
- Four‑unit quadplex totaling 3,353 square feet
- Four‑year‑old roof with recently replaced soffits, fascia, and gutters
- Updated interiors with laminate flooring, tiled bathrooms, granite countertops, and updated appliances
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
$36,796
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
8.46%
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%
$735,920
$735.9K
Cap Rate 7%
$525,657
$525.7K
Cap Rate 9%
$408,844
$408.8K
Market Conditions
NOI Build-Up for 3,353 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
$57.5K $17.16/SF
− Vacancy
−$5.0K −$1.48/SF
EGI
$52.6K $15.68/SF
− OpEx
−$15.8K −$4.70/SF
NOI
$36.8K $10.97/SF
Area
Jefferson County, LA
Vacancy
8.64%
Lease Rate
$17.16 /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%
$735,920
Cap Rate 7%
$525,657
Cap Rate 9%
$408,844
Alternative Uses
Best Use
Multifamily LT 5
$525.7K
$460.0K – $613.3K
NOI $36,796 @ 7.0% cap · market cap 8.46%
Second Best
Apartment 5plus
$491.4K
$430.0K – $573.3K
NOI $34,398 @ 7.0% cap · market cap 7.91%
Theoretical Best
Office A
$884.6K
$774.0K – $1.03M
NOI $61,923 @ 7.0% cap · market cap 14.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
463
Businesses Nearby
Explore this area
Business Placement
Demographics for 70065, LA
51,484
Population
21,890
Households
2.4
Avg Household Size
40
Median Age
32%
College-Educated
87%
High-School Grad
8.0 sq mi
ZIP Area
6,436
Density / Sq Mi
$65,899
Median Household Income
$41,058
Median Earnings
$1,123
Median Rent
$255,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property with renovated interiors, private off-street parking, and a tenant-only laundry facility.
Where is this quadplex located?
The property is located at 300 DUKE Drive Kenner, LA.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: Four‑unit quadplex totaling 3,353 square feet; Four‑year‑old roof with recently replaced soffits, fascia, and gutters; Updated interiors with laminate flooring, tiled bathrooms, granite countertops, and updated appliances
