Updated Duplex in New
508 S MURAT Street New Orleans, LA 70119
508 S MURAT Street, New Orleans, LA, 70119
$329,900
For Sale
$329,900
MULTI_FAMILY - New Orleans, LA
Property Size2,036 SF
Price / SF$162.03
Days on Market374
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
Listing agency
KELLER WILLIAMS REALTY 455-0100
(504) 455-0100
Listed by
Joyce Guidroz · License #995682077
(504) 669-8822
Added: Jul 15, 2025 Updated: May 14 at 11:30AM Checked: Jul 23 at 8:06AM
MLS# 2511984
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 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.
Key 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
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
NOI $25,781 @ 7.0% cap · market cap 7.81%
Second Best
Apartment 5plus
$338.5K
$296.2K – $395.0K
NOI $23,697 @ 7.0% cap · market cap 7.18%
Theoretical Best
Office A
$532.8K
$466.2K – $621.6K
NOI $37,293 @ 7.0% cap · market cap 11.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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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
