8238 SPRUCE Street New Orleans, LA 70118
MULTI_FAMILY - New Orleans, LA
Property Features for 8238 SPRUCE Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Patio and Porch features
- Porch
- Exterior features
- Fence, Porch
- Fencing
- Fenced
- Standard status
- Active
- APN
- 716302208
- Size
- 2,194 SF
- Lot size
- 0.08 Acres
Taxes and HOA fees
- Tax Description
- SQ 257 LOT X SPRUCE & DANTE 30 X 120 8238-40 SPRUCE
Utilities
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1920
- Floors in Building
- 1
- Number of units
- 2
- Roof type
- Shingle
- Architectural style
- Other
Listing agent Mary Danna License #995689808 (504) 669-8822
Listing office KELLER WILLIAMS REALTY 455-0100 3500 N Causeway Blvd Suite 350, Metairie, LA (504) 455-0100
Listing date Mar 25, 2026
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.
The property also offers a thoughtfully arranged outdoor space. Behind the home, you’ll find a yard with a stepping stone path, turf lawn, privacy fencing, and a pergola equipped with string lights, creating a ready setting for outdoor dining and relaxed lounging. This configuration supports an owner-occupant lifestyle as well as tenant-friendly day-to-day usability.
From an investment perspective, the duplex setup is designed for strong rental potential, with the advantage of having two income-producing units in one cohesive asset. For buyers who prefer to reduce carrying costs, the layout supports an owner-occupy approach where you can live in one unit and rent the other. With its combination of original architectural elements and an outdoor area that’s already positioned for everyday use, the property offers a compelling mix of charm, flexibility, and long-term functionality.
Key Highlights
- Victorian shotgun double with strong rental potential or owner‑occupancy option.
- Corner lot featuring symmetrical double front porches and intricate gingerbread millwork.
- Original hardwood floors, high ceilings, and decorative mantels throughout.
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 | $43.4k | $19.80 |
| − Vacancy | −$3.8k | −$1.71 |
| EGI | $39.7k | $18.09 |
| − OpEx | −$11.9k | −$5.43 |
| NOI | $27.8k | $12.66 |
