Duplex with Off-Street
For Sale
$450,000
3420 CLARA Street, New Orleans, LA 70115
Multi-Family, Shot Gun, New Orleans, LA
Property Size1,736 SF
Lot Size0.11 Acres
Price / SF$259.22
Days on Market27
Property Features for 3420 CLARA Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Off Street
Lot features
Regular
Standard status
Active
APN
614333730
Size
1,736 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
SQ 633 LOT 31 30X153/156 3420 CLARA ST A&B
Legal Description
SQ 633 LOT 31 30X153/156 3420 CLARA ST A&B
Utilities
Water source
Public
Building Details
Year built
2008
Floors in Building
1
Number of units
1
Roof type
Asphalt
Architectural style
Other
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
(504) 455-0100
Listed By:
Noah Thomas · License #995715515
(504) 388-6437
Added: Aug 10
Changed: Aug 25
Last Checked: Sep 5 at 7:06PM
MLS# 2571840
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 duplex at 3420 Clara Street provides 1,736 square feet of residential space on a 0.1064-acre lot. The property was built in 2008 and includes off-street parking, public water service, and an asphalt roof.
Located in New Orleans, Louisiana, the property is identified by postal code 70115. Its established residential configuration and documented physical features provide a clear basis for evaluating the asset as a duplex.
Located in New Orleans, Louisiana, the property is identified by postal code 70115. Its established residential configuration and documented physical features provide a clear basis for evaluating the asset as a duplex.
Key Highlights
- 1,736 square feet of building area
- 0.1064‑acre lot
- Duplex configuration
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
$14,921
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
3.32%
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%
$298,420
$298.4K
Cap Rate 7%
$213,157
$213.2K
Cap Rate 9%
$165,789
$165.8K
Market Conditions
NOI Build-Up for 1,736 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
$23.3K $13.44/SF
− Vacancy
−$2.0K −$1.16/SF
EGI
$21.3K $12.28/SF
− OpEx
−$6.4K −$3.68/SF
NOI
$14.9K $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%
$298,420
Cap Rate 7%
$213,157
Cap Rate 9%
$165,789
Alternative Uses
Best Use
Multifamily LT 5
$213.2K
$186.5K – $248.7K
NOI $14,921 @ 7.0% cap · market cap 3.32%
Second Best
Apartment 5plus
$189.0K
$165.3K – $220.5K
NOI $13,227 @ 7.0% cap · market cap 2.94%
Theoretical Best
Office A
$458.0K
$400.8K – $534.3K
NOI $32,060 @ 7.0% cap · market cap 7.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,820
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 - Two-unit property with off-street parking, public water service, and an asphalt roof.
Where is this duplex located?
The property is located at 3420 CLARA Street New Orleans, LA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1,736 square feet of building area; 0.1064‑acre lot; Duplex configuration
