Newly Built Duplex with
For Sale
$699,000
725-27 DESIRE Street, New Orleans, LA 70117
Multi-Family, New Orleans, LA
Property Size1,882 SF
Lot Size0.08 Acres
Price / SF$371.41
Days on Market551
Property Features for 725-27 DESIRE Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Off Street
Patio and Porch features
Porch
Exterior features
Balcony, Porch
Lot features
Regular
Subdivision
Bywater
Standard status
Active
APN
39W107917
Size
1,882 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Description
SQ 174 LOT 5 OR 19 DESIRE 29 X 120
Legal Description
SQ 174 LOT 5 OR 19 DESIRE 29 X 120
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2020
Floors in Building
2
Number of units
2
Roof type
Asphalt
Listing Agency:
REVE, REALTORS
(504) 300-0700
Listed By:
Phillipa Bowers
(504) 884-3893
Added: Mar 2, 2025
Changed: Aug 19
Last Checked: Sep 4 at 5:06AM
MLS# 2488070
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.
Completed in 2020, this townhouse-style duplex contains 1,882 square feet on a 0.0799-acre lot. The property includes an in-ground pool, balcony, porch, central heating and cooling, off-street parking, public water service, and an asphalt roof. It is currently tenant occupied and carries HMR-3 zoning.
The duplex is located in New Orleans’ Bywater neighborhood, with access to the French Quarter, Marigny, and CBD. Nearby businesses include Satsuma, Alma, Bywater Bakery, Elizabeth’s, and The Country Club. The property is offered as part of a package with 3400 Desire St., which is separately listed for sale.
The duplex is located in New Orleans’ Bywater neighborhood, with access to the French Quarter, Marigny, and CBD. Nearby businesses include Satsuma, Alma, Bywater Bakery, Elizabeth’s, and The Country Club. The property is offered as part of a package with 3400 Desire St., which is separately listed for sale.
Key Highlights
- Townhouse‑style duplex completed in 2020
- 1,882 square feet on a 0.0799‑acre lot
- In‑ground pool with balcony and porch
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
$23,831
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
3.41%
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%
$476,620
$476.6K
Cap Rate 7%
$340,443
$340.4K
Cap Rate 9%
$264,789
$264.8K
Market Conditions
NOI Build-Up for 1,882 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
$37.3K $19.80/SF
− Vacancy
−$3.2K −$1.71/SF
EGI
$34.0K $18.09/SF
− OpEx
−$10.2K −$5.43/SF
NOI
$23.8K $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%
$476,620
Cap Rate 7%
$340,443
Cap Rate 9%
$264,789
Alternative Uses
Best Use
Multifamily LT 5
$340.4K
$297.9K – $397.2K
NOI $23,831 @ 7.0% cap · market cap 3.41%
Second Best
Apartment 5plus
$312.9K
$273.8K – $365.1K
NOI $21,904 @ 7.0% cap · market cap 3.13%
Theoretical Best
Office A
$478.3K
$418.6K – $558.1K
NOI $33,484 @ 7.0% cap · market cap 4.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,274
Businesses Nearby
Explore this area
Business Placement
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
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 - Tenant-occupied townhouse-style property with central HVAC, balcony, porch, and off-street parking.
Where is this duplex located?
The property is located at 725-27 DESIRE Street New Orleans, LA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Townhouse‑style duplex completed in 2020; 1,882 square feet on a 0.0799‑acre lot; In‑ground pool with balcony and porch
