Cottage-Style
For Sale
$266,500
300 PASADENA Avenue, Metairie, LA 70001
Multi-Family, Cottage, Metairie, LA
Property Size1,491 SF
Price / SF$178.74
Days on Market39
Property Features for 300 PASADENA Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Carport, Off Street
Exterior features
Fence
Fencing
Fenced
Subdivision
Ponte Vista
Lot features
Regular
Standard status
Active
APN
0820027057
Size
1,491 SF
Taxes and HOA fees
Tax Description
LOT 1-A SQ 4 PONTE VISTA MAP # 4090
Legal Description
LOT 1-A SQ 4 PONTE VISTA MAP # 4090
Utilities
Heating system
Central
Cooling system
Window Unit(s), Central Air
Water source
Public
Amenities
covered carport
attached storage room
laundry hookups
private patio
fire pit
fenced-in yard
Building Details
Year built
1945
Floors in Building
1
Number of units
2
Roof type
Shingle, Flat
Architectural style
Cottage
Listing Agency:
Homesmart Realty South · HomeSmart International
(504) 908-7653
Listed By:
Robyn Schmitt · License #995687935
(504) 236-1144
Added: Aug 1
Changed: Sep 4
Last Checked: Sep 8 at 9:06AM
MLS# 2568799
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 1,491-square-foot duplex, built in 1945, combines a three-bedroom, one-bath cottage with an attached efficiency studio. The cottage includes a living room with wood floors, a granite-counter kitchen with white appliances and black cabinetry, a dining area, a rear primary bedroom, a fenced yard, covered carport, and storage room with laundry hookups. The studio has a private entrance, full kitchen, updated bathroom, walk-in closet, stackable washer and dryer, patio, and separate fenced yard.
Property improvements include replacement plumbing beneath the cottage, a newer water heater, piping, and windows completed 4 - 5 years ago; an AC condenser replaced approximately 5 - 7 years ago; and an updated electrical panel and breakers installed around 2010. The property is in Flood Zone X, has public water, central heating, central air, window units, and both flat and shingle roofing. The front cottage is tenant occupied and requires at least 24-hour notice for showings.
Property improvements include replacement plumbing beneath the cottage, a newer water heater, piping, and windows completed 4 - 5 years ago; an AC condenser replaced approximately 5 - 7 years ago; and an updated electrical panel and breakers installed around 2010. The property is in Flood Zone X, has public water, central heating, central air, window units, and both flat and shingle roofing. The front cottage is tenant occupied and requires at least 24-hour notice for showings.
Key Highlights
- 1,491‑square‑foot duplex built in 1945
- Front unit includes 3 bedrooms and 1 bath
- Attached efficiency studio with private entrance and full kitchen
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
$15,944
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
5.98%
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%
$318,880
$318.9K
Cap Rate 7%
$227,771
$227.8K
Cap Rate 9%
$177,156
$177.2K
Market Conditions
NOI Build-Up for 1,491 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
$24.2K $16.20/SF
− Vacancy
−$1.4K −$0.92/SF
EGI
$22.8K $15.28/SF
− OpEx
−$6.8K −$4.58/SF
NOI
$15.9K $10.69/SF
Area
Metairie, LA
Vacancy
5.70%
Lease Rate
$16.20 /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%
$318,880
Cap Rate 7%
$227,771
Cap Rate 9%
$177,156
Alternative Uses
Best Use
Multifamily LT 5
$227.8K
$199.3K – $265.7K
NOI $15,944 @ 7.0% cap · market cap 5.98%
Second Best
Apartment 5plus
$198.2K
$173.4K – $231.3K
NOI $13,875 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$349.2K
$305.5K – $407.4K
NOI $24,441 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
677
Businesses Nearby
Explore this area
Business Placement
Demographics for 70001, LA
40,068
Population
19,103
Households
2.1
Avg Household Size
39
Median Age
37%
College-Educated
93%
High-School Grad
6.5 sq mi
ZIP Area
6,164
Density / Sq Mi
$70,187
Median Household Income
$43,662
Median Earnings
$1,145
Median Rent
$313,300
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?
Duplex - Two-unit property with a three-bedroom cottage and a separate efficiency studio, each offering private outdoor space.
Where is this duplex located?
The property is located at 300 PASADENA Avenue Metairie, LA.
What is the asking price?
The asking price for this property is $266,500.
What are key features of this property?
This property features: 1,491‑square‑foot duplex built in 1945; Front unit includes 3 bedrooms and 1 bath; Attached efficiency studio with private entrance and full kitchen
