Duplex with New
For Sale
$249,900
3625 SHANGRI LA Drive, Chalmette, LA 70043
Multi-Family, Traditional, Chalmette, LA
Property Size2,045 SF
Lot Size0.13 Acres
Price / SF$122.20
Days on Market26
Property Features for 3625 SHANGRI LA Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Driveway, Off Street
Lot features
Regular
Standard status
Active
APN
303300000050
Size
2,045 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Description
LOT 50 NORTH PATRICIA SUB. 55X102=5610
Legal Description
LOT 50 NORTH PATRICIA SUB. 55X102=5610
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
off-street parking
large fenced backyard
Building Details
Year built
1982
Floors in Building
1
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
1 Percent Lists Legacy
(504) 499-0047
Listed By:
Richard Miley · License #995709617
(985) 265-2046
Added: Jul 28
Changed: Aug 20
Last Checked: Aug 22 at 7:06PM
MLS# 2569761
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 2,045-square-foot duplex, built in 1982, contains two separate residences: one with 3 bedrooms and 1 bath, and another with 2 bedrooms and 1 bath. Both units include functional living areas, tile flooring across the main spaces, and kitchens with cabinetry and work surfaces. Central heating and central air serve the property, while a shingle roof was installed in February 2025.
The property is located at 3625 Shangri La Drive in Chalmette, Louisiana. Exterior features include driveway and off-street parking along with a large fenced backyard. One residence is leased at $1,350 per month, and the adjoining unit is vacant for leasing or occupancy.
The property is located at 3625 Shangri La Drive in Chalmette, Louisiana. Exterior features include driveway and off-street parking along with a large fenced backyard. One residence is leased at $1,350 per month, and the adjoining unit is vacant for leasing or occupancy.
Key Highlights
- 2,045 square feet on a 0.1288‑acre lot
- Two units: 3‑bedroom/1‑bath and 2‑bedroom/1‑bath layouts
- One unit leased at $1,350 per month; adjoining unit is vacant
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
$22,442
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
8.98%
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%
$448,840
$448.8K
Cap Rate 7%
$320,600
$320.6K
Cap Rate 9%
$249,356
$249.4K
Market Conditions
NOI Build-Up for 2,045 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
$35.1K $17.16/SF
− Vacancy
−$3.0K −$1.48/SF
EGI
$32.1K $15.68/SF
− OpEx
−$9.6K −$4.70/SF
NOI
$22.4K $10.97/SF
Area
St. Bernard 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%
$448,840
Cap Rate 7%
$320,600
Cap Rate 9%
$249,356
Alternative Uses
Best Use
Multifamily LT 5
$320.6K
$280.5K – $374.0K
NOI $22,442 @ 7.0% cap · market cap 8.98%
Second Best
Apartment 5plus
$299.7K
$262.3K – $349.7K
NOI $20,980 @ 7.0% cap · market cap 8.40%
Theoretical Best
Office A
$539.5K
$472.1K – $629.5K
NOI $37,767 @ 7.0% cap · market cap 15.11%
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
427
Businesses Nearby
Explore this area
Business Placement
Demographics for 70043, LA
21,596
Population
8,782
Households
2.5
Avg Household Size
34
Median Age
15%
College-Educated
83%
High-School Grad
9.1 sq mi
ZIP Area
2,373
Density / Sq Mi
$57,065
Median Household Income
$37,969
Median Earnings
$1,091
Median Rent
$203,800
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?
Duplex - Two distinct residences offer separate layouts, central systems, off-street parking, and a fenced backyard.
Where is this duplex located?
The property is located at 3625 SHANGRI LA Drive Chalmette, LA.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: 2,045 square feet on a 0.1288‑acre lot; Two units: 3‑bedroom/1‑bath and 2‑bedroom/1‑bath layouts; One unit leased at $1,350 per month; adjoining unit is vacant
