Brick Duplex with Fenced
For Sale
$299,000
Pending
3766 ROMAN Street, Metairie, LA 70001
Multi-Family, Traditional, Metairie, LA
Property Size1,637 SF
Lot Size0.12 Acres
Days on Market32
Property Features for 3766 ROMAN Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Driveway
Patio and Porch features
Porch
Exterior features
Fence, Porch
Fencing
Fenced
Lot features
Regular
Subdivision
Metairie Terrace
Standard status
Pending
APN
302500500009
Size
1,637 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
Lot R, DIV G, Metairie Terrace
Legal Description
Lot R, DIV G, Metairie Terrace
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
indoor laundry/storage space
covered rear patios
private fenced backyard areas
Building Details
Year built
1960
Floors in Building
1
Number of units
2
Roof type
Asphalt
Architectural style
Other
Listing Agency:
RE/MAX Synergy · RE/MAX International
(985) 307-1367
Listed By:
Jeffery Melancon
(504) 914-0988
Added: Aug 3
Changed: Aug 19
Last Checked: Sep 3 at 4:06PM
MLS# 2570634
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 1,637-square-foot duplex sits on a 0.119-acre lot and was built in 1960. The brick property contains two residential units, with one currently vacant and the other occupied. Each unit offers living space, bedrooms, a kitchen with adjoining dining area, an updated bathroom, indoor laundry and storage, and a covered rear patio. Central heating and central air serve the property, while public water, an asphalt roof, and driveway parking complete the core improvements.
Both units have private fenced backyard areas and access to covered porch space. The property is located near shopping, dining, schools, and major highways in Metairie, providing access to established everyday services and transportation routes.
Both units have private fenced backyard areas and access to covered porch space. The property is located near shopping, dining, schools, and major highways in Metairie, providing access to established everyday services and transportation routes.
Key Highlights
- 1,637‑square‑foot duplex on a 0.119‑acre lot
- Built in 1960 with brick construction and an asphalt roof
- One unit is vacant; the second unit is occupied
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
$17,505
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
5.85%
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%
$350,100
$350.1K
Cap Rate 7%
$250,071
$250.1K
Cap Rate 9%
$194,500
$194.5K
Market Conditions
NOI Build-Up for 1,637 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
$26.5K $16.20/SF
− Vacancy
−$1.5K −$0.92/SF
EGI
$25.0K $15.28/SF
− OpEx
−$7.5K −$4.58/SF
NOI
$17.5K $10.69/SF
Area
Metairie, LA
Vacancy
5.70%
Lease Rate
$16.20 /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%
$350,100
Cap Rate 7%
$250,071
Cap Rate 9%
$194,500
Alternative Uses
Best Use
Multifamily LT 5
$250.1K
$218.8K – $291.8K
NOI $17,505 @ 7.0% cap · market cap 5.85%
Second Best
Apartment 5plus
$217.6K
$190.4K – $253.9K
NOI $15,234 @ 7.0% cap · market cap 5.09%
Theoretical Best
Office A
$383.3K
$335.4K – $447.2K
NOI $26,834 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
924
Businesses Nearby
Explore this area
Business Placement
Demographics for 70001, LA
40,068
Population
19,103
Households
2.1
Avg Household Size
39
Median Age
37%
College-Educated
93%
High-School Grad
6.5 sq mi
ZIP Area
6,164
Density / Sq Mi
$70,187
Median Household Income
$43,662
Median Earnings
$1,145
Median Rent
$313,300
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 residential units offer private fenced outdoor areas, covered rear porches, and driveway parking.
Where is this duplex located?
The property is located at 3766 ROMAN Street Metairie, LA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 1,637‑square‑foot duplex on a 0.119‑acre lot; Built in 1960 with brick construction and an asphalt roof; One unit is vacant; the second unit is occupied
