Renovated Duplex with Private
For Sale
$525,000
407 DODGE Avenue, Jefferson, LA 70121
Multi-Family, Cottage, Jefferson, LA
Property Size1,778 SF
Lot Size0.17 Acres
Price / SF$295.28
Days on Market20
Property Features for 407 DODGE Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Driveway
Patio and Porch features
Porch
Exterior features
Balcony, Porch
Lot features
Oversized
Standard status
Active
APN
0700004163
Size
1,778 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
LOTS 63 & 64 SQ 3 JEFFERSON HGTS
Legal Description
LOTS 63 & 64 SQ 3 JEFFERSON HGTS
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
in-unit washer/dryer
walk-in closet
courtyard
balcony
private entrance
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Architectural style
Cottage
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
(504) 455-0100
Listed By:
Simone Soignet · License #8892
(504) 650-6650
Added: Aug 17
Changed: Aug 30
Last Checked: Sep 5 at 7:06PM
MLS# 2572738
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 1,778-square-foot duplex occupies a 0.1722-acre lot in Jefferson and dates to 1920. The property combines original hardwood floors, antique doors, and vintage hardware with a comprehensive renovation that included new sheetrock, insulation with sound barriers, updated electrical and plumbing, LED lighting, and a new Owens Corning Duration shingle roof with gutters. Two Goodman central HVAC systems serve the building, while gas water heating is provided by a new tank unit upstairs and a tankless unit downstairs.
The primary residence offers a single-family-style layout with a large living and dining area, three bedrooms, two renovated bathrooms, and a new kitchen. The upper unit has a living room, separate office or bonus room, full kitchen, in-unit washer and dryer, walk-in closet, private entrance, small courtyard, and balcony. Separate electric meters, driveway parking, a shaded rear yard, public water, porch, and central air add practical functionality. River Road and the Mississippi River levee path are three blocks away, with nearby medical and educational facilities including Ochsner Hospital Main Campus.
The primary residence offers a single-family-style layout with a large living and dining area, three bedrooms, two renovated bathrooms, and a new kitchen. The upper unit has a living room, separate office or bonus room, full kitchen, in-unit washer and dryer, walk-in closet, private entrance, small courtyard, and balcony. Separate electric meters, driveway parking, a shaded rear yard, public water, porch, and central air add practical functionality. River Road and the Mississippi River levee path are three blocks away, with nearby medical and educational facilities including Ochsner Hospital Main Campus.
Key Highlights
- 1,778‑square‑foot duplex on a 0.1722‑acre lot
- 1920 cottage with original hardwood floors, antique doors, and vintage hardware
- Two Goodman central HVAC systems; updated electrical and plumbing
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
$22,514
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
4.29%
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%
$450,280
$450.3K
Cap Rate 7%
$321,629
$321.6K
Cap Rate 9%
$250,156
$250.2K
Market Conditions
NOI Build-Up for 1,778 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
$35.2K $19.80/SF
− Vacancy
−$3.0K −$1.71/SF
EGI
$32.2K $18.09/SF
− OpEx
−$9.6K −$5.43/SF
NOI
$22.5K $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%
$450,280
Cap Rate 7%
$321,629
Cap Rate 9%
$250,156
Alternative Uses
Best Use
Multifamily LT 5
$321.6K
$281.4K – $375.2K
NOI $22,514 @ 7.0% cap · market cap 4.29%
Second Best
Apartment 5plus
$295.6K
$258.7K – $344.9K
NOI $20,694 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$451.9K
$395.4K – $527.2K
NOI $31,634 @ 7.0% cap · market cap 6.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
903
Businesses Nearby
Explore this area
Business Placement
Demographics for 70121, LA
11,523
Population
6,415
Households
1.8
Avg Household Size
46
Median Age
36%
College-Educated
88%
High-School Grad
3.3 sq mi
ZIP Area
3,492
Density / Sq Mi
$59,029
Median Household Income
$40,151
Median Earnings
$1,113
Median Rent
$237,200
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 - Updated cottage-style duplex with separate electric meters, private access, flexible living arrangements, and outdoor space.
Where is this duplex located?
The property is located at 407 DODGE Avenue Jefferson, LA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 1,778‑square‑foot duplex on a 0.1722‑acre lot; 1920 cottage with original hardwood floors, antique doors, and vintage hardware; Two Goodman central HVAC systems; updated electrical and plumbing
