Mid-City Duplex Income
For Sale
$499,999
4312 BANKS Street, New Orleans, LA 70119
MULTI_FAMILY - New Orleans, LA
Property Size2,480 SF
Price / SF$201.61
Days on Market182
Property Features for 4312 BANKS Street
General Information
Property type
Residential Multi Family
Property subtype
Manufactured Home
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
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) 862-0100
Added: Jan 30
Changed: Jul 11
Last Checked: Jul 31 at 8:06AM
MLS# 2539840
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 mid-city duplex is designed as a 6-bedroom, 4-bath income property with an open floor plan in each unit. Each unit offers 3 bedrooms and 2 full bathrooms, and both are currently rented. Updates completed in 2023 include fresh paint, ceiling fans, and stainless steel appliances including a refrigerator, range/oven, microwave, and dishwasher.
The units are all-electric (no gas) with central air and heat, laminate wood flooring (no carpet), and in-unit washer/dryer. The property is served by two separate electric meters and one water meter.
Each unit includes the appliance and comfort features listed above, with open layouts and in-unit laundry for tenant convenience. For sale at 4312 Banks Street, New Orleans, LA 70119, the property is also described as being in close proximity to popular eateries and public transportation.
The units are all-electric (no gas) with central air and heat, laminate wood flooring (no carpet), and in-unit washer/dryer. The property is served by two separate electric meters and one water meter.
Each unit includes the appliance and comfort features listed above, with open layouts and in-unit laundry for tenant convenience. For sale at 4312 Banks Street, New Orleans, LA 70119, the property is also described as being in close proximity to popular eateries and public transportation.
Key Highlights
- Mid City double with 2 units, each with 3/2 layout (6BD, 4BA total)
- Both units currently rented, providing income‑producing occupancy
- Updates completed in 2023 including fresh paint, ceiling fans, and stainless steel appliances
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $49.1k | $19.80 |
| − Vacancy | −$4.2k | −$1.71 |
| EGI | $44.9k | $18.09 |
| − OpEx | −$13.5k | −$5.43 |
| NOI | $31.4k | $12.66 |
2,480 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
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
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
4,235
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
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex with two rented units, each featuring 3 bedrooms and 2 full bathrooms, plus 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: Mid City double with 2 units, each with 3/2 layout (6BD, 4BA total); Both units currently rented, providing income‑producing occupancy; Updates completed in 2023 including fresh paint, ceiling fans, and stainless steel appliances
