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    3609 MARAIS Street New Orleans, LA 70117

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    Claim this Listing
    New
    For Sale
    $575,000

    MULTI_FAMILY - New Orleans, LA

    Property size:
    2,387 SF
    Price / SF:
    $240/SF
    Added:
    May 5, 2026
    Days on Market:
    2
    Last Refresh:
    May 6 at 12:06 pm

    Property Features for 3609 MARAIS Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Patio and Porch features
    Porch
    Exterior features
    Balcony, Fence, Porch
    Fencing
    Fenced
    Standard status
    Active
    APN
    39W302903
    Size
    2,387 SF

    Taxes and HOA fees

    Tax Description
    SQ 476 LOT 3

    Utilities

    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    2021
    Floors in Building
    2
    Number of units
    2

    We can help!

    Listing Contact
    Adrienne LaBauve
    Adrienne LaBauve

    Listing agent Adrienne LaBauve

    Listing office eXp Realty, LLC 650 Poydras St, New Orleans, LA

    Listing date May 5, 2026

    MLS# 2553469 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.

    HighLights

    • Newer construction (2021) multi‑family property in the desirable Bywater/St. Claude corridor.
    • Two well‑appointed units: a 3‑bedroom/2‑bathroom unit (approx. 1,350 sq ft) and a 2‑bedroom/2‑bathroom unit (approx. 1,037 sq ft), both with contemporary finishes.
    • Upper unit features a large, private rooftop deck with open sky views, ideal for entertaining.
    • Modern kitchens with stainless steel appliances, gas ranges, vented hoods, subway tile backsplashes, and oversized islands.
    • In‑unit laundry for both units.
    • Located minutes from the French Quarter and Bywater, with easy access to restaurants, live music, and coffee shops.

    Overview

    New Orleans Multifamily Property

    This newer construction multifamily property is designed for comfort and functionality, offering an opportunity to own an income-producing asset in a dynamic New Orleans neighborhood. It features two units with contemporary finishes. The lower unit includes 3 bedrooms, 2 bathrooms, and approximately 1,350 square feet, while the upper unit has 2 bedrooms, 2 bathrooms, and approximately 1,037 square feet. Each unit features an open-concept living space filled with natural light. Interior features include wide-plank wood flooring, tall ceilings, and large windows. The kitchens include stainless steel appliances, gas ranges, vented hoods, subway tile backsplashes, and oversized islands with warm wood countertops. Bathrooms are finished with custom tilework, glass-enclosed showers, double vanities in select spaces, and sleek fixtures. The primary suite offers generous proportions and an en suite bath. Additional interior features include in-unit laundry for both units, recessed lighting, contemporary ceiling fans, and a neutral color palette. The upper unit has access to a private rooftop deck. The property includes a low-maintenance yard. Located in the Bywater/St. Claude corridor, it is near the French Quarter and Bywater, with access to restaurants, live music, and coffee shops. The property is suitable for an owner-occupant, an investor, or a buyer in need of a flexible living arrangement. The property size is 2,387 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Nola Blue House Vacation Rental

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.038147
    Latitude
    29.967405

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    FAQs

    What type of property is this?
    Duplex - Newer construction multifamily property in a dynamic New Orleans neighborhood.
    Where is this duplex located?
    The property is located at 3609 MARAIS Street New Orleans, LA.
    What is the asking price?
    The asking price for this property is $575,000.
    What are key features of this property?
    This property features: Newer construction (2021) multi‑family property in the desirable Bywater/St. Claude corridor.; Two well‑appointed units: **a 3‑bedroom/2‑bathroom unit (approx. 1,350 sq ft) and a 2‑bedroom/2‑bathroom unit (approx. 1,037 sq ft), both with contemporary finishes.**; **Upper unit features a large, private rooftop deck with open sky views, ideal for entertaining.**
    (337) 522-7554
    We can help!
    Listing Contact
    Adrienne LaBauve
    Adrienne LaBauve
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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