Historic Duplex with Private
For Sale
$649,000
817 CHEROKEE Street, New Orleans, LA 70118
Multi-Family, Camelback, New Orleans, LA
Property Size3,108 SF
Price / SF$208.82
Days on Market171
Property Features for 817 CHEROKEE Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Patio and Porch features
Porch
Exterior features
Fence, Porch
Fencing
Fenced
Lot features
Regular
Standard status
Active
APN
819-CHEROKEEST
Size
3,108 SF
Taxes and HOA fees
Tax Description
1. SQ 100 LOT M CHEROKEE 2. 33 X 120 3. 817-819 CHEROKEE ST
Legal Description
1. SQ 100 LOT M CHEROKEE 2. 33 X 120 3. 817-819 CHEROKEE ST
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
laundry room
private front porch
central AC/heater
landscaped backyard
Building Details
Year built
1917
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
Berkshire Hathaway HomeServices Preferred, REALTOR
(504) 799-1702
Listed By:
Nathalie Dubois · License #995703042
(504) 610-0679
Added: Mar 21
Changed: Sep 3
Last Checked: Sep 7 at 8:06PM
MLS# 2548041
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.
Built in 1917, this 3,108-square-foot duplex contains two independent units, each with two bedrooms, one full bath, and one half bath. The interiors include separate living and dining areas, eat-in kitchens with stainless steel appliances and gas ranges, private laundry rooms, central AC and heating, and upstairs bedrooms. Original architectural elements include fireplace mantels, high ceilings, stained glass, and hardwood flooring. Each side also has its own deep front porch.
The property is located at 817 Cherokee Street in New Orleans, approximately two blocks from the St. Charles Avenue StreetCar Line and nearby universities. Audubon Park, an elementary school, and neighborhood services are within walking distance. Exterior features include a fenced, landscaped backyard, a white picket fence, and a shingle roof.
The property is located at 817 Cherokee Street in New Orleans, approximately two blocks from the St. Charles Avenue StreetCar Line and nearby universities. Audubon Park, an elementary school, and neighborhood services are within walking distance. Exterior features include a fenced, landscaped backyard, a white picket fence, and a shingle roof.
Key Highlights
- 3,108‑square‑foot duplex built in 1917
- Two units, each with 2 bedrooms, 1 full bath, and 1 half bath
- Separate laundry room, central AC, and central heating in each unit
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
$39,355
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
6.06%
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%
$787,100
$787.1K
Cap Rate 7%
$562,214
$562.2K
Cap Rate 9%
$437,278
$437.3K
Market Conditions
NOI Build-Up for 3,108 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
$61.5K $19.80/SF
− Vacancy
−$5.3K −$1.71/SF
EGI
$56.2K $18.09/SF
− OpEx
−$16.9K −$5.43/SF
NOI
$39.4K $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%
$787,100
Cap Rate 7%
$562,214
Cap Rate 9%
$437,278
Alternative Uses
Best Use
Multifamily LT 5
$562.2K
$491.9K – $655.9K
NOI $39,355 @ 7.0% cap · market cap 6.06%
Second Best
Apartment 5plus
$516.8K
$452.2K – $602.9K
NOI $36,174 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$790.0K
$691.2K – $921.6K
NOI $55,297 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,538
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?
Duplex - Two independent units feature flexible layouts, private laundry rooms, central climate control, and fenced outdoor space.
Where is this duplex located?
The property is located at 817 CHEROKEE Street New Orleans, LA.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 3,108‑square‑foot duplex built in 1917; Two units, each with 2 bedrooms, 1 full bath, and 1 half bath; Separate laundry room, central AC, and central heating in each unit
