Duplex with Private
For Sale
$1,499,000
Pending
4721 PRYTANIA Street, New Orleans, LA 70115
MULTI_FAMILY - New Orleans, LA
Property Size6,412 SF
Lot Size0.15 Acres
Days on Market199
Property Features for 4721 PRYTANIA Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Off Street
Exterior features
Balcony, Courtyard, Fence
Fencing
Fenced
Lot features
Regular
Subdivision
Uptown
Standard status
Pending
APN
614225404
Size
6,412 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Description
SQ 364 LOT B PRYTANIA
Legal Description
SQ 364 LOT B PRYTANIA
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
in-unit washer and dryers
tall ceilings
hardwood floors
classic louvered shutters
raised basement
Building Details
Year built
1908
Floors in Building
3
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
eXp Realty, LLC
(337) 522-7554
Listed By:
Adrienne LaBauve
(504) 344-0877
Added: Jan 26
Changed: Jul 28
Last Checked: Aug 13 at 4:06AM
MLS# 2535143
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 1908 duplex offers a two-unit, privacy-focused layout with classic interior details. The larger unit features 4 bedrooms and 4.5 baths across three levels, including a sun-filled room off the kitchen for entertaining. The third floor includes a full bath and flexible space that can serve as a bedroom, media room, or bonus area. The primary suite includes a private balcony overlooking Prytania Street. The second unit offers 3 bedrooms and 2.5 baths, designed so no bedrooms share walls with the adjoining unit.
Both residences include in-unit washer and dryers, expansive kitchens, tall ceilings, hardwood floors, and louvered shutters. Exterior features include a balcony, courtyard, and fencing, plus central heating and central air. Parking is off-street with electric gated parking for multiple vehicles for each unit. A raised basement provides additional storage, and the property is in flood zone X.
Additional site facts include 0.1492 acres and a total property size of 6,412 SF, with public water and a shingle roof.
Both residences include in-unit washer and dryers, expansive kitchens, tall ceilings, hardwood floors, and louvered shutters. Exterior features include a balcony, courtyard, and fencing, plus central heating and central air. Parking is off-street with electric gated parking for multiple vehicles for each unit. A raised basement provides additional storage, and the property is in flood zone X.
Additional site facts include 0.1492 acres and a total property size of 6,412 SF, with public water and a shingle roof.
Key Highlights
- 0.1492‑acre duplex totaling 6,412 SF built in 1908
- Larger unit has 4 bedrooms and 4.5 baths across three levels
- Second unit has 3 bedrooms and 2.5 baths with no shared bedroom walls
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
$55,112
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
3.68%
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%
$1,102,240
$1.1M
Cap Rate 7%
$787,314
$787.3K
Cap Rate 9%
$612,356
$612.4K
Market Conditions
NOI Build-Up for 6,412 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
$86.2K $13.44/SF
− Vacancy
−$7.4K −$1.16/SF
EGI
$78.7K $12.28/SF
− OpEx
−$23.6K −$3.68/SF
NOI
$55.1K $8.60/SF
Area
ZIP 70115
Vacancy
8.64%
Lease Rate
$13.44 /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%
$1,102,240
Cap Rate 7%
$787,314
Cap Rate 9%
$612,356
Alternative Uses
Best Use
Multifamily LT 5
$787.3K
$688.9K – $918.5K
NOI $55,112 @ 7.0% cap · market cap 3.68%
Second Best
Apartment 5plus
$697.9K
$610.7K – $814.3K
NOI $48,855 @ 7.0% cap · market cap 3.26%
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,417 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,806
Businesses Nearby
Explore this area
Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
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 - 1908-built duplex with central HVAC, in-unit laundry, and private balcony off the primary suite.
Where is this duplex located?
The property is located at 4721 PRYTANIA Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: 0.1492‑acre duplex totaling 6,412 SF built in 1908; Larger unit has 4 bedrooms and 4.5 baths across three levels; Second unit has 3 bedrooms and 2.5 baths with no shared bedroom walls
