Custom Duplex with In-Unit
308 RIESS Place Chalmette, LA 70043
308 RIESS Place, Chalmette, LA, 70043
$364,900
For Sale
$364,900
MULTI_FAMILY - Chalmette, LA
Property Size1,812 SF
Price / SF$201.38
Days on Market168
Property Features for 308 RIESS Place
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- Driveway, Off Street
- Exterior features
- Fence
- Fencing
- Fenced
- Standard status
- Active
- APN
- 304207500003
- Size
- 1,812 SF
Taxes and HOA fees
- Tax Description
- LOT 3 SQ. 75 TRIST SUB. 50X100=5000
Utilities
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 2024
- Floors in Building
- 1
- Number of units
- 2
- Roof type
- Asphalt, Shingle
- Architectural style
- Other
Listing Agency
REVE, REALTORS
(504) 300-0700
4827 Prytania St, New Orleans, LA
Listed by
Jacques Alfonso · License #995690060
(504) 300-0700
Added: Jan 30 Checked: Jul 17 at 9:06 am
MLS# 2540149
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.
Investment Insights
Based on property information with market context.
308-10 Riess Place is a custom-built duplex in Chalmette, featuring two identical 3-bedroom, 2-bath units. Each unit includes a kitchen with tiled backsplash, open shelving, shaker-style cabinets, quartz countertops, and stainless appliances. Durable stained concrete floors run throughout the living spaces, and each unit offers in-unit laundry for added day-to-day convenience. Separate water meters are in place, which can simplify utilities management for an owner.
The property is located at 308 Riess Place in St. Bernard Parish and provides quick access to local restaurants, schools, and shopping. It sits about two blocks from Our Lady of Prompt Succor Church and School.
With two mirrored layouts and separate utilities metering, the duplex configuration is straightforward for either ongoing rental use or owner-occupancy with an additional unit.
The property is located at 308 Riess Place in St. Bernard Parish and provides quick access to local restaurants, schools, and shopping. It sits about two blocks from Our Lady of Prompt Succor Church and School.
With two mirrored layouts and separate utilities metering, the duplex configuration is straightforward for either ongoing rental use or owner-occupancy with an additional unit.
Key Highlights
- Custom‑built 2024 duplex in Chalmette with two identical 3‑bedroom, 2‑bath units
- Central heating and central air conditioning
- In‑unit laundry plus separate water meters for each unit
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 | $31.1k | $17.16 |
| − Vacancy | −$2.7k | −$1.48 |
| EGI | $28.4k | $15.68 |
| − OpEx | −$8.5k | −$4.70 |
| NOI | $19.9k | $10.97 |
1,812 SF · lease $17.16/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$284.1K
$248.6K – $331.4K
NOI $19,885 @ 7.0% cap · market cap 5.45%
Second Best
Apartment 5plus
$265.6K
$232.4K – $309.8K
NOI $18,589 @ 7.0% cap · market cap 5.09%
Theoretical Best
Office A
$478.1K
$418.3K – $557.7K
NOI $33,464 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Custom-built duplex offers two identical 3-bedroom, 2-bath units with in-unit laundry and separate water meters.
Where is this duplex located?
The property is located at 308 RIESS Place Chalmette, LA.
What is the asking price?
The asking price for this property is $364,900.
What are key features of this property?
This property features: Custom‑built 2024 duplex in Chalmette with two identical 3‑bedroom, 2‑bath units; Central heating and central air conditioning; In‑unit laundry plus separate water meters for each unit
