Townhome-Style
For Sale
$330,000
6274-6276 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 6274-6276 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
716531707
Size
2,380 SF
Taxes and HOA fees
Tax Description
Lot 163-B Country Club Estates
Legal Description
Lot 163-B Country Club Estates
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
fenced backyards
storage sheds
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# 2507881
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 was built in 1979 with a townhome-style arrangement: one residence occupies the ground level and the other is upstairs. Each unit includes a den, kitchen, breakfast area, and laundry closet. The property also features central heating and central air, a shingle roof, public water service, and off-street parking through attached carports.
Both residences have fenced backyards with storage sheds, while the carports provide additional storage sheds. The HVAC system and water heater serving 6274 were replaced in 2024. Refrigerators remain with the landlord; washers and dryers are provided by tenants. This property is one of four duplex buildings being offered, with the option to purchase individually or as a package.
Both residences have fenced backyards with storage sheds, while the carports provide additional storage sheds. The HVAC system and water heater serving 6274 were replaced in 2024. Refrigerators remain with the landlord; washers and dryers are provided by tenants. This property is one of four duplex buildings being offered, with the option to purchase individually or as a package.
Key Highlights
- 2,380 SF duplex with one residence downstairs and one upstairs
- Built in 1979 with central heating and central air
- Fenced backyards with storage sheds for the residences
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
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,147
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-level layout includes private outdoor space, attached carports, and storage areas for both residences.
Where is this duplex located?
The property is located at 6274-6276 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 SF duplex with one residence downstairs and one upstairs; Built in 1979 with central heating and central air; Fenced backyards with storage sheds for the residences
