Building Details

Year built 1961

Floors in Building 2

Number of units 3

Roof type Shingle

Architectural style Other

Listing Agency: Amanda Miller Realty, LLC a***@amandmillerrealty.com Show Phone

Listed By: Amanda Miller · License #995687438 Show Phone

Added: Mar 6 Changed: Aug 10 Last Checked: Aug 29 at 3:06AM

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MLS# 2546342

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 renovated triplex property at 616 Lebeau Street in Arabi contains 2,055 square feet on a 0.1377-acre lot. Interior finishes include light wood-colored flooring and white paint. A featured kitchen has white cabinets and counters, while the bathroom includes a claw-foot soaking tub, mosaic flooring, and subway-tile walls. The property also includes a large yard and backyard gazebo.

Built in 1961, the property has window-unit cooling, a shingle roof, public water, and driveway parking. It is located in Flood Zone X. The owner pays utilities, with those costs included in rental amounts.

Key Highlights

• 2,055‑square‑foot renovated triplex property on a 0.1377‑acre lot
• Located at 616 Lebeau Street in Arabi, LA 70032
• Large yard with a gazebo in the backyard

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

$22,552

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

8.36%

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%

$451,040 $451.0K

Cap Rate 7%

$322,171 $322.2K

Cap Rate 9%

$250,578 $250.6K

Market Conditions

NOI Build-Up for 2,055 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

$35.3K $17.16/SF

− Vacancy

−$3.0K −$1.48/SF

EGI

$32.2K $15.68/SF

− OpEx

−$9.7K −$4.70/SF

NOI

$22.6K $10.97/SF

Area

St. Bernard County, LA

Vacancy

8.64%

Lease Rate

$17.16 /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%

$451,040

Cap Rate 7%

$322,171

Cap Rate 9%

$250,578

Alternative Uses

Best Use

Multifamily LT 5

$322.2K

$281.9K – $375.9K (±1% cap)

NOI $22,552 @ 7.0% cap · market cap 8.36%

Second Best

Apartment 5plus

$301.2K

$263.5K – $351.4K (±1% cap)

NOI $21,082 @ 7.0% cap · market cap 7.81%

Theoretical Best

Office A

$542.2K

$474.4K – $632.5K (±1% cap)

NOI $37,952 @ 7.0% cap · market cap 14.06%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Triplexes

Suggested Use

Top Pick Dental Office Real Estate Agency Electrical Service Kitchen & Bath Showroom Parking Lot & Garage (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

388

Businesses Nearby

Explore this area Business Placement

Demographics for 70032, LA

4,533

Population

2,160

Households

2.1

Avg Household Size

39

Median Age

23%

College-Educated

80%

High-School Grad

2.0 sq mi

ZIP Area

2,267

Density / Sq Mi

$52,500

Median Household Income

$45,463

Median Earnings

$998

Median Rent

$212,400

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Triplex - Renovated multifamily property with bright interiors, a large yard, and a backyard gazebo in Arabi.

Where is this triplex located?

The property is located at 616 LEBEAU Street Arabi, LA.

What is the asking price?

The asking price for this property is $269,900.

What are key features of this property?

This property features: 2,055‑square‑foot renovated triplex property on a 0.1377‑acre lot; Located at 616 Lebeau Street in Arabi, LA 70032; Large yard with a gazebo in the backyard