Updated Two-Unit
For Sale
$499,999
4312 BANKS Street, New Orleans, LA 70119
Multi-Family, Modular, New Orleans, LA
Property Size2,480 SF
Price / SF$201.61
Days on Market48
Property Features for 4312 BANKS Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Exterior features
Balcony
Lot features
Regular
Subdivision
Mid City
Standard status
Active
APN
4312-BANKSST
Size
2,480 SF
Taxes and HOA fees
Tax Description
Lot 7, Sq 798
Legal Description
Lot 7, Sq 798
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
Ceiling Fans
Stainless Steel Appliances
Open floor plans
Laminate wood flooring
Central Air & Heat
In-unit washer/dryer
Building Details
Year built
2009
Floors in Building
2
Number of units
2
Architectural style
Other
Listing Agency:
Keller Williams Realty New Orleans
(504) 862-0100
Listed By:
Kimberly Boudreaux · License #995712760
(504) 722-7003
Added: Aug 19
Changed: Sep 16
Last Checked: Oct 5 at 6:06PM
MLS# 2573356
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 2,480-square-foot duplex, built in 2009, contains two residential units with a 3-bedroom, 2-bath layout in each. Both units are currently rented. Interior updates completed in 2023 include fresh paint, ceiling fans, stainless steel refrigerators, range/ovens, microwaves, and dishwashers. Each unit also offers laminate wood flooring, an open floor plan, central air and heat, and an in-unit washer and dryer.
The property has two separate electric meters and one water meter, with all-electric systems and public water service. A balcony adds exterior space, while the New Orleans location provides access to nearby eateries and public transportation.
The property has two separate electric meters and one water meter, with all-electric systems and public water service. A balcony adds exterior space, while the New Orleans location provides access to nearby eateries and public transportation.
Key Highlights
- 2,480‑square‑foot duplex with two 3‑bedroom, 2‑bath units
- Both units currently rented
- Interior updates completed in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,403
Cap Rate
6.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$628,060
$628.1K
Cap Rate 7%
$448,614
$448.6K
Cap Rate 9%
$348,922
$348.9K
Market Conditions
NOI Build-Up for 2,480 SF
Gross rent
$49.1K $19.80/SF
− Vacancy
−$4.2K −$1.71/SF
EGI
$44.9K $18.09/SF
− OpEx
−$13.5K −$5.43/SF
NOI
$31.4K $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 Rate 5%
$628,060
Cap Rate 7%
$448,614
Cap Rate 9%
$348,922
Alternative Uses
Best Use
Multifamily LT 5
$448.6K
$392.5K – $523.4K
NOI $31,403 @ 7.0% cap · market cap 6.28%
Second Best
Apartment 5plus
$412.3K
$360.8K – $481.1K
NOI $28,864 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$648.9K
$567.8K – $757.1K
NOI $45,426 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
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
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately metered units feature open layouts, central air, and in-unit laundry.
Where is this duplex located?
The property is located at 4312 BANKS Street New Orleans, LA.
What is the asking price?
The asking price for this property is $499,999.
What are key features of this property?
This property features: 2,480‑square‑foot duplex with two 3‑bedroom, 2‑bath units; Both units currently rented; Interior updates completed in 2023
