Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Updated Duplex in New Orleans Title is generated by Realmo AI

    508 S MURAT Street, New Orleans, LA 70119

    View on Map
    Claim this Listing
    For Sale
    $329,900

    MULTI_FAMILY - New Orleans, LA

    Type:Single Family Residence
    Property size:
    2,036 SF
    Price / SF:
    $162/SF
    Added:
    Jul 15, 2025
    Days on Market:
    326
    Last Refresh:
    Jun 5 at 3:06 am

    Property Features for 508 S MURAT Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Single Family Residence
    Parking features
    Off Street
    Patio and Porch features
    Porch
    Exterior features
    Fence, Porch
    Fencing
    Fenced
    Standard status
    Active
    Size
    2,036 SF

    Taxes and HOA fees

    Tax Description
    SQ 806 LOT 17 S MURAT 36X112 508-510 SO MURAT

    Utilities

    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1910
    Floors in Building
    1
    Number of units
    2
    Roof type
    Shingle
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Joyce Guidroz
    Joyce Guidroz

    Listing agent Joyce Guidroz License #995682077

    Listing office KELLER WILLIAMS REALTY 455-0100 3500 N Causeway Blvd Suite 350, Metairie, LA

    Listing date Jul 15, 2025

    MLS# 2511984 Listing URL

    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.

    HighLights

    • Duplex: Two separate units, each with 2 bedrooms and 1 bathroom
    • Income Potential: Ideal for house‑hacking or rental income
    • Prime Location: In the heart of New Orleans, close to culture, dining, and entertainment
    • Updated Property: Beautifully updated, move‑in ready condition
    • Exterior Features: Includes a porch and fenced yard
    • Essential Amenities: Equipped with central heating and central air conditioning

    Overview

    This updated duplex in New Orleans presents an investment opportunity. Each side of the duplex features 2 bedrooms and 1 bathroom. The property is suitable for both homeowners and investors. It is located minutes from the city's culture, dining, and entertainment. The property size is 2036 square feet.

    Local 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 $40.3k $19.80
    − Vacancy −$3.5k −$1.71
    EGI $36.8k $18.09
    − OpEx −$11.0k −$5.43
    NOI $25.8k $12.66
    2,036 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $368.3K
    $322.3K – $429.7K (±1% cap)
    NOI $25,781 @ 7.0% cap · market cap 7.81%
    Second Best
    Apartment 5plus
    $338.5K
    $296.2K – $395.0K (±1% cap)
    NOI $23,697 @ 7.0% cap · market cap 7.18%
    Theoretical Best
    Office A
    $532.8K
    $466.2K – $621.6K (±1% cap)
    NOI $37,293 @ 7.0% cap · market cap 11.30%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.108165
    Latitude
    29.973664

    Nearby Similar for Sale

    • $800,000
      3,850 SF

      Mixed-Use Commercial & Residential Property

      Versatile property with restaurant, bar, retail, and residential spaces.
      8009 DOWNMAN Road, New Orleans, LA 70126
      View Details
    • $450,000
      2,700 SF

      Uptown Bar with Adjoining Lot

      Uptown bar with kitchen, storage, and adjacent vacant lot.
      1832 SEVENTH Street, New Orleans, LA 70115
      View Details
    • $729,000
      2,169 SF

      Magazine Street Commercial Jewel Box

      Freestanding commercial property on a high-profile corner in Uptown New Orleans.
      4332 MAGAZINE Street, New Orleans, LA 70115
      View Details
    • $230,000
      3,847 SF

      New Orleans Commercial Opportunity

      Spacious warehouse ready for custom transformation in New Orleans.
      1637 SERE Street, New Orleans, LA 70122
      View Details
    • $575,000
      1,428 SF

      Historic Ground-Floor Office Space

      Ground-floor office unit with 11-foot ceilings, exposed brick, storage, and a rear shared courtyard.
      862 CAMP Street, New Orleans, LA 70130
      View Details
    • $565,000
      2,522 SF

      Turnkey New Construction Duplex

      Newly built duplex with open-concept layouts, three en-suite baths per unit, and turnkey appliance package.
      3107 TOULOUSE Street, New Orleans, LA 70119
      View Details
    • $389,000
      4,016 SF

      Income-Producing Triplex in Broadmoor

      Triplex in central New Orleans with original wood floors.
      3221 UPPERLINE Street, New Orleans, LA 70125
      View Details
    • $650,000
      6,900 SF

      Iconic Bywater Commercial Space

      Versatile 6,900 SF space in vibrant Bywater neighborhood.
      4321 SAINT CLAUDE Avenue, New Orleans, LA 70117
      View Details
    • $650,000
      3,900 SF

      Uptown New Orleans Multi-Family Property

      Well-maintained 6-bedroom, 4-bath property near Tulane and Audubon Park.
      2721 CALHOUN Street, New Orleans, LA 70118
      View Details
    • $429,900
      5,020 SF

      Algiers Fourplex Investment Opportunity

      Fourplex in Algiers with income potential and convenient location.
      6001 TULLIS Drive, New Orleans, LA 70131
      View Details
    • $600,000
      3,304 SF

      Renovated Duplex in New Orleans

      Luxurious, renovated duplex with income potential in New Orleans.
      3905 ELYSIAN FIELDS Avenue, New Orleans, LA 70122
      View Details
    • $2,400,000
      3,850 SF

      Equipped Kitchen Space in New Orleans

      Restaurant kitchen space available in New Orleans with flexible lease terms.
      8001 DOWNMAN Road, New Orleans, LA 70126
      View Details

    FAQs

    What type of property is this?
    Duplex - Updated duplex in the heart of New Orleans.
    Where is this duplex located?
    The property is located at 508 S MURAT Street New Orleans, LA.
    What is the asking price?
    The asking price for this property is $329,900.
    What are key features of this property?
    This property features: Duplex: Two separate units, each with 2 bedrooms and 1 bathroom; Income Potential: Ideal for house‑hacking or rental income; Prime Location: In the heart of New Orleans, close to culture, dining, and entertainment
    (504) 669-8822
    We can help!
    Listing Contact
    Joyce Guidroz
    Joyce Guidroz
    Real Estate License ID: 995682077
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    508 S MURAT Street, New Orleans, LA 70119
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!