Raised Triplex with Fenced
For Sale
$449,000
7832 PLUM Street, New Orleans, LA 70118
Multi-Family, Townhouse, New Orleans, LA
Property Size3,311 SF
Price / SF$135.61
Days on Market49
Property Features for 7832 PLUM Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Off Street
Exterior features
Balcony, Fence
Fencing
Fenced
Lot features
Regular
Standard status
Active
APN
716201308
Size
3,311 SF
Taxes and HOA fees
Tax Description
Lot 12, Square 154, 7th Municipal District
Legal Description
Lot 12, Square 154, 7th Municipal District
Utilities
Heating system
Central
Cooling system
Central Air, Window Unit(s)
Water source
Public
Amenities
balcony
fenced yard
off-street parking
central heat and air
Building Details
Year built
1908
Floors in Building
2
Number of units
3
Roof type
Shingle
Architectural style
Other
Listing Agency:
RE/MAX Synergy · RE/MAX International
(985) 307-1367
Listed By:
Jason Melancon · License #995682487
(504) 905-1687
Added: Jul 22
Changed: Sep 5
Last Checked: Sep 8 at 6:06PM
MLS# 2563044
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 raised, townhouse-style triplex was built in 1908 and contains approximately 3,311 square feet. The property includes one larger two-bedroom, one-bath unit and two additional units, along with a balcony, fenced yard, off-street parking, and a shingle roof. Central heating and cooling are present, with window units also identified. The building is connected to public water and city sewer, with electric and natural gas service in place.
Located in New Orleans, Louisiana, the property is offered strictly as-is, where-is. Its existing configuration provides three residential units within a single multifamily structure, while the stated condition calls for renovation work by the purchaser.
Located in New Orleans, Louisiana, the property is offered strictly as-is, where-is. Its existing configuration provides three residential units within a single multifamily structure, while the stated condition calls for renovation work by the purchaser.
Key Highlights
- Triplex with approximately 3,311 square feet
- Unit mix includes one 2‑bedroom/1‑bath unit and two additional units
- Raised townhouse‑style building constructed in 1908
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
$38,536
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
8.58%
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%
$770,720
$770.7K
Cap Rate 7%
$550,514
$550.5K
Cap Rate 9%
$428,178
$428.2K
Market Conditions
NOI Build-Up for 3,311 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
$77.1K $23.28/SF
− Vacancy
−$7.0K −$2.12/SF
EGI
$70.1K $21.16/SF
− OpEx
−$31.5K −$9.52/SF
NOI
$38.5K $11.64/SF
Area
New Orleans, LA
Vacancy
9.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$770,720
Cap Rate 7%
$550,514
Cap Rate 9%
$428,178
Alternative Uses
Best Use
Multifamily LT 5
$598.9K
$524.1K – $698.8K
NOI $41,926 @ 7.0% cap · market cap 9.34%
Second Best
Apartment 5plus
$550.5K
$481.7K – $642.3K
NOI $38,536 @ 7.0% cap · market cap 8.58%
Theoretical Best
Office A
$841.5K
$736.4K – $981.8K
NOI $58,908 @ 7.0% cap · market cap 13.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,561
Businesses Nearby
Explore this area
Business Placement
Demographics for 70118, LA
35,635
Population
15,464
Households
2.3
Avg Household Size
31
Median Age
54%
College-Educated
92%
High-School Grad
4.6 sq mi
ZIP Area
7,747
Density / Sq Mi
$62,665
Median Household Income
$28,199
Median Earnings
$1,257
Median Rent
$451,600
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?
Triplex - Townhouse-style multifamily property with off-street parking, a balcony, and central heating and cooling.
Where is this triplex located?
The property is located at 7832 PLUM Street New Orleans, LA.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Triplex with approximately 3,311 square feet; Unit mix includes one 2‑bedroom/1‑bath unit and two additional units; Raised townhouse‑style building constructed in 1908
