Duplex with Front
For Sale
$315,000
411 S HENNESSEY Street, New Orleans, LA 70119
Multi-Family, Shot Gun, New Orleans, LA
Property Size2,027 SF
Price / SF$155.40
Days on Market180
Property Features for 411 S HENNESSEY 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
Mid-City
Standard status
Active
APN
105306910
Size
2,027 SF
Taxes and HOA fees
Tax Description
SQ 798 LOT 12 HENNESSEY 34 6 X157 2
Legal Description
SQ 798 LOT 12 HENNESSEY 34 6 X157 2
Utilities
Cooling system
Window Unit(s)
Water source
Public
Amenities
hardwood floors
tall ceilings
front porch
backyard
off-street parking
Building Details
Year built
1973
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 9
Changed: Aug 27
Last Checked: Sep 4 at 7:06PM
MLS# 2544577
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 duplex contains 2,027 square feet with a traditional interior layout, hardwood floors, and tall ceilings throughout the living spaces. A front porch adds exterior space, while the fenced backyard is divided into defined areas for the two units. The property also includes window-unit cooling, public water service, a shingle roof, and a driveway providing off-street parking on the 411 side.
The property is located in Mid-City just off Banks Street in New Orleans. Restaurants, coffee shops, and neighborhood businesses are identified in the surrounding area. Water, gas, and electric service are separately metered, allowing utilities to be paid by tenants. The roof was installed in 2022, and the property was built in 1973.
The property is located in Mid-City just off Banks Street in New Orleans. Restaurants, coffee shops, and neighborhood businesses are identified in the surrounding area. Water, gas, and electric service are separately metered, allowing utilities to be paid by tenants. The roof was installed in 2022, and the property was built in 1973.
Key Highlights
- 2,027‑square‑foot duplex in New Orleans’ Mid‑City area
- Separate water, gas, and electric meters support tenant‑paid utilities
- New shingle roof installed in 2022
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
$25,667
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
8.15%
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%
$513,340
$513.3K
Cap Rate 7%
$366,671
$366.7K
Cap Rate 9%
$285,189
$285.2K
Market Conditions
NOI Build-Up for 2,027 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
$40.1K $19.80/SF
− Vacancy
−$3.5K −$1.71/SF
EGI
$36.7K $18.09/SF
− OpEx
−$11.0K −$5.43/SF
NOI
$25.7K $12.66/SF
Area
ZIP 70119
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%
$513,340
Cap Rate 7%
$366,671
Cap Rate 9%
$285,189
Alternative Uses
Best Use
Multifamily LT 5
$366.7K
$320.8K – $427.8K
NOI $25,667 @ 7.0% cap · market cap 8.15%
Second Best
Apartment 5plus
$337.0K
$294.9K – $393.2K
NOI $23,592 @ 7.0% cap · market cap 7.49%
Theoretical Best
Office A
$530.4K
$464.1K – $618.8K
NOI $37,128 @ 7.0% cap · market cap 11.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,730
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Traditional interiors, divided outdoor areas, and separate utility metering create a practical two-unit configuration.
Where is this duplex located?
The property is located at 411 S HENNESSEY Street New Orleans, LA.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 2,027‑square‑foot duplex in New Orleans’ Mid‑City area; Separate water, gas, and electric meters support tenant‑paid utilities; New shingle roof installed in 2022
