Duplex with Fenced
For Sale
$284,000
8301-8303 BELFAST Street, New Orleans, LA 70118
Multi-Family, New Orleans, LA
Property Size1,960 SF
Lot Size0.09 Acres
Price / SF$144.90
Days on Market84
Property Features for 8301-8303 BELFAST Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Driveway
Patio and Porch features
Porch
Exterior features
Courtyard, Fence, Porch
Fencing
Fenced
Lot features
Corner, Regular
Subdivision
Leonidas
Standard status
Active
APN
716325005
Size
1,960 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Description
SQ 391 LOT G BELFAST & DANTE 40 X 100 8301-03 BELFAST
Legal Description
SQ 391 LOT G BELFAST & DANTE 40 X 100 8301-03 BELFAST
Utilities
Heating system
Central
Cooling system
Window Unit(s), Central Air
Water source
Public
Amenities
backyard
bonus room
Building Details
Year built
1925
Floors in Building
1
Number of units
2
Roof type
Metal
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
(504) 455-0100
Listed By:
Austin McCann · License #995704296
(504) 615-3946
Added: Jun 13
Changed: Aug 26
Last Checked: Sep 4 at 11:06AM
MLS# 2562909
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 1925, this duplex contains two distinct residential units totaling 1,960 square feet. Unit 8301 is configured as a one-bedroom, one-bath loft, while Unit 8303 includes three bedrooms, two full bathrooms, driveway parking, and an attic converted into bonus space. The property also offers a porch, fenced backyard, and courtyard-style outdoor area. Central heating, central air, and window units serve the improvements, with public water available.
Set on 0.0918 acres at 8301-8303 Belfast Street in New Orleans, the property is located in Flood Zone X. A metal roof and enclosed fencing are among the existing exterior features. The home requires updates and TLC, providing a two-unit configuration with established physical improvements and outdoor amenities.
Set on 0.0918 acres at 8301-8303 Belfast Street in New Orleans, the property is located in Flood Zone X. A metal roof and enclosed fencing are among the existing exterior features. The home requires updates and TLC, providing a two-unit configuration with established physical improvements and outdoor amenities.
Key Highlights
- Two separate units: a 1‑bedroom, 1‑bath loft and a 3‑bedroom, 2‑bath residence
- 1,960 square feet of total property size on a 0.0918‑acre lot
- Unit 8303 includes a converted attic used as bonus space
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
$24,818
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
8.74%
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%
$496,360
$496.4K
Cap Rate 7%
$354,543
$354.5K
Cap Rate 9%
$275,756
$275.8K
Market Conditions
NOI Build-Up for 1,960 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
$38.8K $19.80/SF
− Vacancy
−$3.4K −$1.71/SF
EGI
$35.5K $18.09/SF
− OpEx
−$10.6K −$5.43/SF
NOI
$24.8K $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%
$496,360
Cap Rate 7%
$354,543
Cap Rate 9%
$275,756
Alternative Uses
Best Use
Multifamily LT 5
$354.5K
$310.2K – $413.6K
NOI $24,818 @ 7.0% cap · market cap 8.74%
Second Best
Apartment 5plus
$325.9K
$285.2K – $380.2K
NOI $22,812 @ 7.0% cap · market cap 8.03%
Theoretical Best
Office A
$498.2K
$435.9K – $581.2K
NOI $34,872 @ 7.0% cap · market cap 12.28%
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
830
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-unit residential property with driveway parking, porch space, and separate layouts suited to rental occupancy.
Where is this duplex located?
The property is located at 8301-8303 BELFAST Street New Orleans, LA.
What is the asking price?
The asking price for this property is $284,000.
What are key features of this property?
This property features: Two separate units: a 1‑bedroom, 1‑bath loft and a 3‑bedroom, 2‑bath residence; 1,960 square feet of total property size on a 0.0918‑acre lot; Unit 8303 includes a converted attic used as bonus space
