Shotgun-Style Duplex with Central
For Sale
$479,000
3809 DAUPHINE Street, New Orleans, LA 70117
MULTI_FAMILY - New Orleans, LA
Property Size2,591 SF
Price / SF$184.87
Days on Market176
Property Features for 3809 DAUPHINE Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Lot features
Regular
Subdivision
Bywater
Standard status
Active
APN
3809
Size
2,591 SF
Taxes and HOA fees
Tax Description
SQ 243 LOT R PT 2 3
Legal Description
SQ 243 LOT R PT 2 3
Utilities
Heating system
Central
Cooling system
Window Unit(s), Central Air
Water source
Public
Building Details
Year built
1900
Floors in Building
1
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
Crane Realtors
(504) 210-2014
Listed By:
Aaron Dare · License #995681183
(504) 899-8666
Added: Mar 13
Changed: Jun 9
Last Checked: Sep 4 at 2:06AM
MLS# 2547446
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 Bywater double offers two distinct floor plans within a classic New Orleans layout. Unit 3809 features a traditional shotgun-style layout with original hardwood floors and historic architectural details. Unit 3811 has been thoughtfully updated in a side hall configuration and includes central A/C, while preserving the home’s original character. Across both units, tall ceilings, abundant natural light, and original wood flooring carry the historic look throughout.
The property is located in the heart of the Bywater within a highly walkable neighborhood, with nearby local restaurants, coffee shops, and neighborhood favorites within easy reach.
With two separate units and different interior configurations, this property can work well for owner-occupants seeking flexibility, or for investors looking for a residential income opportunity. The combination of historic features and practical updates in one unit supports a range of tenant and occupancy strategies while keeping the overall character of the building intact.
The property is located in the heart of the Bywater within a highly walkable neighborhood, with nearby local restaurants, coffee shops, and neighborhood favorites within easy reach.
With two separate units and different interior configurations, this property can work well for owner-occupants seeking flexibility, or for investors looking for a residential income opportunity. The combination of historic features and practical updates in one unit supports a range of tenant and occupancy strategies while keeping the overall character of the building intact.
Key Highlights
- New Orleans double with 3809 and 3811, featuring traditional shotgun‑style layouts and original hardwood floors
- 3811 includes a side hall configuration and central A/C
- Heating is central; cooling includes central air and window unit(s)
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
$32,809
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
6.85%
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%
$656,180
$656.2K
Cap Rate 7%
$468,700
$468.7K
Cap Rate 9%
$364,544
$364.5K
Market Conditions
NOI Build-Up for 2,591 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
$51.3K $19.80/SF
− Vacancy
−$4.4K −$1.71/SF
EGI
$46.9K $18.09/SF
− OpEx
−$14.1K −$5.43/SF
NOI
$32.8K $12.66/SF
Area
New Orleans, LA
Vacancy
8.64%
Lease Rate
$19.80 /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%
$656,180
Cap Rate 7%
$468,700
Cap Rate 9%
$364,544
Alternative Uses
Best Use
Multifamily LT 5
$468.7K
$410.1K – $546.8K
NOI $32,809 @ 7.0% cap · market cap 6.85%
Second Best
Apartment 5plus
$430.8K
$377.0K – $502.6K
NOI $30,156 @ 7.0% cap · market cap 6.30%
Theoretical Best
Office A
$658.5K
$576.2K – $768.3K
NOI $46,098 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,033
Businesses Nearby
Explore this area
Business Placement
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
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-unit Bywater double offers original hardwood, historic details, and central A/C in one unit.
Where is this duplex located?
The property is located at 3809 DAUPHINE Street New Orleans, LA.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: New Orleans double with 3809 and 3811, featuring traditional shotgun‑style layouts and original hardwood floors; 3811 includes a side hall configuration and central A/C; Heating is central; cooling includes central air and window unit(s)
