Cottage Duplex with Business
For Sale
$420,000
4021 SAINT CLAUDE Avenue, New Orleans, LA 70117
Multi-Family, Cottage, New Orleans, LA
Property Size2,299 SF
Price / SF$182.69
Days on Market9
Property Features for 4021 SAINT CLAUDE Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Exterior features
Fence
Fencing
Fenced
Subdivision
Not a Subdivision
Lot features
Regular
Standard status
Active
APN
39W208904
Size
2,299 SF
Taxes and HOA fees
Tax Description
SQ 411 LOT F PT 5 AND 6 ST CLAUDE 38 X 117 BR/V/FRT 2/STORES & DBLE 4/R & 7/R A/R (CASA BLANCA INN)
Legal Description
SQ 411 LOT F PT 5 AND 6 ST CLAUDE 38 X 117 BR/V/FRT 2/STORES & DBLE 4/R & 7/R A/R (CASA BLANCA INN)
Utilities
Heating system
Natural Gas, Central
Cooling system
Central Air
Water source
Public
Amenities
indoor laundry
foyer/display area
Building Details
Year built
1940
Floors in Building
1
Number of units
2
Roof type
Shingle
Architectural style
Cottage
Listing Agency:
Gulf South Pinnacle Group
(504) 638-6742
Listed By:
Vasiliki Acosta
(504) 319-6748
Added: Sep 19
Changed: Sep 22
Last Checked: Sep 27 at 4:06PM
MLS# 2577951
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 2,299-square-foot cottage-style duplex, built in 1940, includes two units with a combined six bedrooms and three bathrooms. Each unit has indoor laundry and a separate water meter. The property has no carpet, central heating and air conditioning, public water, a shingle roof, and fencing.
The front unit includes a foyer and display area that can accommodate a gallery, studio, office, retail space, or another business concept. Commercial zoning supports a range of residential, investment, and business applications. The property is located in the Bywater area of New Orleans and is situated in an X flood zone.
The front unit includes a foyer and display area that can accommodate a gallery, studio, office, retail space, or another business concept. Commercial zoning supports a range of residential, investment, and business applications. The property is located in the Bywater area of New Orleans and is situated in an X flood zone.
Key Highlights
- 2,299 square feet configured as a two‑unit duplex
- Six bedrooms and three bathrooms across both units
- Indoor laundry and separate water meter for each unit
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
$29,111
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
6.93%
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%
$582,220
$582.2K
Cap Rate 7%
$415,871
$415.9K
Cap Rate 9%
$323,456
$323.5K
Market Conditions
NOI Build-Up for 2,299 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
$45.5K $19.80/SF
− Vacancy
−$3.9K −$1.71/SF
EGI
$41.6K $18.09/SF
− OpEx
−$12.5K −$5.43/SF
NOI
$29.1K $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%
$582,220
Cap Rate 7%
$415,871
Cap Rate 9%
$323,456
Alternative Uses
Best Use
Multifamily LT 5
$415.9K
$363.9K – $485.2K
NOI $29,111 @ 7.0% cap · market cap 6.93%
Second Best
Apartment 5plus
$382.3K
$334.5K – $446.0K
NOI $26,758 @ 7.0% cap · market cap 6.37%
Theoretical Best
Office A
$584.3K
$511.3K – $681.7K
NOI $40,903 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
879
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
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?
Duplex - Commercial zoning and a front-unit display area support residential, investment, or business use.
Where is this duplex located?
The property is located at 4021 SAINT CLAUDE Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: 2,299 square feet configured as a two‑unit duplex; Six bedrooms and three bathrooms across both units; Indoor laundry and separate water meter for each unit
