Algiers Point Two-Family
715 ELIZA Street New Orleans, LA 70114
715 ELIZA Street, New Orleans, LA, 70114
$299,000
Pending
For Sale
$299,000
Pending
MULTI_FAMILY - New Orleans, LA
Property Size1,288 SF
Lot Size0.03 Acres
Days on Market75
Property Features for 715 ELIZA Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- Off Street
- Exterior features
- Fence
- Fencing
- Fenced
- Standard status
- Pending
- APN
- 513109525
- Size
- 1,288 SF
- Lot size
- 0.03 Acres
Taxes and HOA fees
- Tax Description
- SQ 95 RR PT 25 OR 25-A 48 X 32 715 ELIZA
Utilities
- Heating system
- Central
- Cooling system
- Window Unit(s), Central Air
- Water source
- Public
Building Details
- Year built
- 1925
- Floors in Building
- 2
- Number of units
- 2
- Roof type
- Shingle
- Architectural style
- Other
Listing Agency
REVE, REALTORS
(504) 300-0700
4827 Prytania St, New Orleans, LA
Listed by
Joey Walker · License #995699523
(504) 300-0700
Added: May 4 Checked: Jul 17 at 9:06 am
MLS# 2556243
Listing URL
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 versatile home is located in the historic Algiers Point neighborhood. Currently configured as a two-family property, each level features 1 bedroom and 1 bathroom. The original single-family layout could be restored with the reinstallation of interior stairs. A welcoming front porch and private side courtyard create inviting outdoor spaces, with the courtyard also offering the potential for off-street parking. The upper level features high ceilings, wood floors, vintage kitchen and bath details, and central HVAC. The downstairs offers good ceiling height, tile floors, an updated kitchen and bathroom, and window units for heating and cooling. Additional features include a recently replaced roof and washer/dryer hookups for each unit. The property is situated minutes from the French Quarter via the nearby ferry. Algiers Point is known for its tree-lined streets, neighborhood cafes, levee walking paths, and strong sense of community. The lot size is 0.0348 acres, and the property size is 1288 square feet. This flexible property delivers multiple possibilities for homeowners and investors alike, including a charming starter home, multi-generational living arrangement, income-producing property, or owner-occupant investment opportunity.
Key Highlights
- Two‑family home in historic Algiers Point with 1 bed/1 bath on each level
- Original single‑family layout could be restored by reinstalling interior stairs
- Front porch plus private side courtyard with potential for off‑street parking
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 | $25.5k | $19.80 |
| − Vacancy | −$2.2k | −$1.71 |
| EGI | $23.3k | $18.09 |
| − OpEx | −$7.0k | −$5.43 |
| NOI | $16.3k | $12.66 |
1,288 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$233.0K
$203.9K – $271.8K
NOI $16,309 @ 7.0% cap · market cap 5.45%
Second Best
Apartment 5plus
$214.2K
$187.4K – $249.9K
NOI $14,991 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$327.4K
$286.5K – $381.9K
NOI $22,916 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Charming two-family home in historic Algiers Point neighborhood.
Where is this duplex located?
The property is located at 715 ELIZA Street New Orleans, LA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two‑family home in historic Algiers Point with 1 bed/1 bath on each level; Original single‑family layout could be restored by reinstalling interior stairs; Front porch plus private side courtyard with potential for off‑street parking
