Remodeled Duplex with
For Sale
$330,000
6262-6264 BELLAIRE Drive, New Orleans, LA 70124
MULTI_FAMILY - New Orleans, LA
Property Size2,380 SF
Price / SF$138.66
Days on Market417
Property Features for 6262-6264 BELLAIRE Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Off Street, Carport
Exterior features
Fence
Fencing
Fenced
Subdivision
Lakeview
Lot features
Levee, Oversized
Standard status
Active
APN
716531609
Size
2,380 SF
Taxes and HOA fees
Tax Description
Country Club Estates Lots 160,160-A Bellaire 40x199
Legal Description
Country Club Estates Lots 160,160-A Bellaire 40x199
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
storage shed
fenced backyard
Building Details
Year built
1979
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
Homesmart Realty South · HomeSmart International
(504) 908-7653
Listed By:
Joy Maureen Matthews · License #000008926
(504) 610-6522
Added: Jun 18, 2025
Changed: Aug 3
Last Checked: Aug 8 at 5:06PM
MLS# 2507878
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 2,380-square-foot duplex, built in 1979, contains two units with matching layouts that include two bedrooms, one bathroom, a large den, dinette, and laundry closets with full-size hookups. One unit has been remodeled, while the other features painted paneling and laminate flooring in the kitchen, living room, and bedrooms. Stoves are included, and the refrigerators are landlord-owned. Central heating and central air serve the property.
A carport and driveway provide off-street parking for two cars. The carport includes a storage shed, and a second large shed sits at the end of the fenced backyard. The HVAC system was replaced in December 2022. Both units are occupied, with one tenancy exceeding a year and the other approaching three years.
A carport and driveway provide off-street parking for two cars. The carport includes a storage shed, and a second large shed sits at the end of the fenced backyard. The HVAC system was replaced in December 2022. Both units are occupied, with one tenancy exceeding a year and the other approaching three years.
Key Highlights
- 2,380‑square‑foot duplex with two 2‑bedroom, 1‑bath units
- One unit remodeled; second unit has updated laminate flooring in key living areas
- Central HVAC replaced in December 2022
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
$30,137
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
9.13%
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%
$602,740
$602.7K
Cap Rate 7%
$430,529
$430.5K
Cap Rate 9%
$334,856
$334.9K
Market Conditions
NOI Build-Up for 2,380 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
$47.1K $19.80/SF
− Vacancy
−$4.1K −$1.71/SF
EGI
$43.1K $18.09/SF
− OpEx
−$12.9K −$5.43/SF
NOI
$30.1K $12.66/SF
Area
New Orleans, LA
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%
$602,740
Cap Rate 7%
$430,529
Cap Rate 9%
$334,856
Alternative Uses
Best Use
Multifamily LT 5
$430.5K
$376.7K – $502.3K
NOI $30,137 @ 7.0% cap · market cap 9.13%
Second Best
Apartment 5plus
$395.7K
$346.3K – $461.7K
NOI $27,700 @ 7.0% cap · market cap 8.39%
Theoretical Best
Office A
$604.9K
$529.3K – $705.7K
NOI $42,344 @ 7.0% cap · market cap 12.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,127
Businesses Nearby
Explore this area
Business Placement
Demographics for 70124, LA
22,777
Population
8,919
Households
2.6
Avg Household Size
37
Median Age
70%
College-Educated
98%
High-School Grad
6.7 sq mi
ZIP Area
3,400
Density / Sq Mi
$121,318
Median Household Income
$66,323
Median Earnings
$1,752
Median Rent
$577,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately occupied units offer flexible living space, full-size laundry hookups, and off-street parking.
Where is this duplex located?
The property is located at 6262-6264 BELLAIRE Drive New Orleans, LA.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: 2,380‑square‑foot duplex with two 2‑bedroom, 1‑bath units; One unit remodeled; second unit has updated laminate flooring in key living areas; Central HVAC replaced in December 2022
