Furnished
For Sale
$565,000
618 S LOPEZ Street, New Orleans, LA 70119
Multi-Family, Creole Cottage, New Orleans, LA
Property Size1,820 SF
Price / SF$310.44
Days on Market23
Property Features for 618 S LOPEZ Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Lot features
Regular
Standard status
Active
APN
105204813
Size
1,820 SF
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2018
Floors in Building
1
Number of units
2
Roof type
Shingle
Architectural style
Cottage
Listing Agency:
The McEnery Company
(504) 274-2701
Listed By:
Scott Weston · License #995684661
(318) 218-4860
Added: Aug 12
Changed: Aug 19
Last Checked: Sep 3 at 6:06AM
MLS# 2572141
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 cottage-style duplex at 618 S Lopez Street contains 1,820 SF across two separately configured units. Unit 616 provides three bedrooms and two bathrooms within 1,350 SF, while Unit 618 includes one bedroom, one bathroom, and 470 SF. The property was renovated in 2018 and includes central HVAC, hardwood flooring, granite countertops, updated plumbing and electrical systems, new appliances, and a brick patio. Furnishings include linens, televisions, and other household contents. Public water service and a shingle roof are also in place.
The property is commercially zoned and fully permitted for short-term-rental use. It is located steps from the Tulane Avenue bike lane and approximately 1 mile from Downtown New Orleans, with the address identified as 618 S Lopez Street, New Orleans, LA 70119.
The property is commercially zoned and fully permitted for short-term-rental use. It is located steps from the Tulane Avenue bike lane and approximately 1 mile from Downtown New Orleans, with the address identified as 618 S Lopez Street, New Orleans, LA 70119.
Key Highlights
- Two‑unit duplex totaling 1,820 SF
- Unit 616: 3 bedrooms, 2 bathrooms, and 1,350 SF
- Unit 618: 1 bedroom, 1 bathroom, and 470 SF
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
$23,046
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
4.08%
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%
$460,920
$460.9K
Cap Rate 7%
$329,229
$329.2K
Cap Rate 9%
$256,067
$256.1K
Market Conditions
NOI Build-Up for 1,820 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
$36.0K $19.80/SF
− Vacancy
−$3.1K −$1.71/SF
EGI
$32.9K $18.09/SF
− OpEx
−$9.9K −$5.43/SF
NOI
$23.0K $12.66/SF
Area
ZIP 70119
Vacancy
8.64%
Lease Rate
$19.80 /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%
$460,920
Cap Rate 7%
$329,229
Cap Rate 9%
$256,067
Alternative Uses
Best Use
Multifamily LT 5
$329.2K
$288.1K – $384.1K
NOI $23,046 @ 7.0% cap · market cap 4.08%
Second Best
Apartment 5plus
$302.6K
$264.8K – $353.1K
NOI $21,183 @ 7.0% cap · market cap 3.75%
Theoretical Best
Office A
$476.2K
$416.7K – $555.6K
NOI $33,337 @ 7.0% cap · market cap 5.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,967
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two furnished units offer commercially zoned, fully permitted short-term-rental use in a renovated cottage-style property.
Where is this duplex located?
The property is located at 618 S LOPEZ Street New Orleans, LA.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,820 SF; Unit 616: 3 bedrooms, 2 bathrooms, and 1,350 SF; Unit 618: 1 bedroom, 1 bathroom, and 470 SF
