Corner-Lot Triplex with
For Sale
$449,000
3701 NASHVILLE Avenue, New Orleans, LA 70125
Multi-Family, Traditional, New Orleans, LA
Property Size3,339 SF
Price / SF$134.47
Days on Market184
Property Features for 3701 NASHVILLE Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Garage, Off Street
Patio and Porch features
Porch
Exterior features
Fence, Porch, Porch Screened In
Fencing
Fenced
Lot features
Oversized
Subdivision
Fontainebleau
Standard status
Active
APN
square 114 lot 7
Size
3,339 SF
Taxes and HOA fees
Tax Description
Square 114, Lot 7
Legal Description
Square 114, Lot 7
Utilities
Heating system
Central
Cooling system
Central Air, Window Unit(s)
Water source
Public
Amenities
hardwood floors
screened porch
Building Details
Year built
1953
Floors in Building
2
Number of units
3
Roof type
Shingle
Architectural style
Other
Listing Agency:
Berkshire Hathaway HomeServices Preferred, REALTOR
(504) 799-1702
Listed By:
Stephen Ehlinger · License #000042978
(504) 650-6770
Added: Mar 12
Changed: Sep 5
Last Checked: Sep 11 at 5:06AM
MLS# 2547311
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 3,339-square-foot triplex, built in 1953, occupies a corner lot and includes a two-car garage with additional off-street parking. Interior features include hardwood floors, spacious rooms, and screened porches serving both the first and second floors. The property also has a shingle roof, fencing, and public water service.
Heating is provided by a central system, while cooling combines central air with window units. Located at 3701 Nashville Avenue in New Orleans, the property offers a residential income configuration with established physical improvements and multiple outdoor spaces.
Heating is provided by a central system, while cooling combines central air with window units. Located at 3701 Nashville Avenue in New Orleans, the property offers a residential income configuration with established physical improvements and multiple outdoor spaces.
Key Highlights
- 3,339 SF triplex on a corner lot
- Two‑car garage plus off‑street parking
- Screened porches on the first and second floors
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
$38,862
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
8.66%
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%
$777,240
$777.2K
Cap Rate 7%
$555,171
$555.2K
Cap Rate 9%
$431,800
$431.8K
Market Conditions
NOI Build-Up for 3,339 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
$77.7K $23.28/SF
− Vacancy
−$7.1K −$2.12/SF
EGI
$70.7K $21.16/SF
− OpEx
−$31.8K −$9.52/SF
NOI
$38.9K $11.64/SF
Area
New Orleans, LA
Vacancy
9.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$777,240
Cap Rate 7%
$555,171
Cap Rate 9%
$431,800
Alternative Uses
Best Use
Multifamily LT 5
$604.0K
$528.5K – $704.7K
NOI $42,280 @ 7.0% cap · market cap 9.42%
Second Best
Apartment 5plus
$555.2K
$485.8K – $647.7K
NOI $38,862 @ 7.0% cap · market cap 8.66%
Theoretical Best
Office A
$848.7K
$742.6K – $990.1K
NOI $59,406 @ 7.0% cap · market cap 13.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,026
Businesses Nearby
Explore this area
Business Placement
Demographics for 70125, LA
17,457
Population
7,972
Households
2.2
Avg Household Size
33
Median Age
46%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
7,590
Density / Sq Mi
$58,956
Median Household Income
$39,623
Median Earnings
$1,292
Median Rent
$428,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential property with wood flooring, screened porches, and a mix of central and window air conditioning.
Where is this triplex located?
The property is located at 3701 NASHVILLE Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 3,339 SF triplex on a corner lot; Two‑car garage plus off‑street parking; Screened porches on the first and second floors
