Duplex with Separate
For Sale
$1,700,000
839 PINE Street, New Orleans, LA 70118
Multi-Family, Traditional, New Orleans, LA
Property Size6,024 SF
Lot Size0.17 Acres
Price / SF$282.20
Days on Market36
Property Features for 839 PINE Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Garage, Covered
Exterior features
Balcony, Courtyard, Fence
Fencing
Fenced
Lot features
Corner
Standard status
Active
APN
615307407
Size
6,024 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
GREENVILLE SQ 79 LOTS 11 12 60X120 839 PINE & 7222 BURTHE S-2 STY-W/APT FILE #86691 1/04 FILE #86691 1/04
Legal Description
GREENVILLE SQ 79 LOTS 11 12 60X120 839 PINE & 7222 BURTHE S-2 STY-W/APT FILE #86691 1/04 FILE #86691 1/04
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
front porch
private courtyard
Building Details
Year built
1960
Floors in Building
3
Number of units
1
Architectural style
Other
Listing Agency:
Homesmart Realty South · HomeSmart International
(504) 908-7653
Listed By:
Coniece Allen-Brown · License #000069487
(504) 782-2470
Added: Jul 29
Changed: Aug 26
Last Checked: Sep 2 at 11:06PM
MLS# 2568046
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 6,024-square-foot duplex property includes a primary residence with six bedrooms, three bathrooms, high ceilings, a front porch, and detailed interior character. A separate two-bedroom apartment adds flexibility for rental use, guest accommodations, or multigenerational living. The property also includes a two-car attached garage, private courtyard, balcony, fencing, central heating and cooling, and public water service.
Located at 839 Pine Street in New Orleans, the property is three blocks from St. Charles Avenue and minutes from Audubon Park, Tulane University, dining, shopping, and entertainment. The site is in an X Flood Zone, and the residence offers a combination of substantial interior space, secondary living quarters, and outdoor areas within Uptown.
Located at 839 Pine Street in New Orleans, the property is three blocks from St. Charles Avenue and minutes from Audubon Park, Tulane University, dining, shopping, and entertainment. The site is in an X Flood Zone, and the residence offers a combination of substantial interior space, secondary living quarters, and outdoor areas within Uptown.
Key Highlights
- 6,024 square feet with a six‑bedroom, three‑bathroom main residence
- Separate two‑bedroom apartment included
- Two‑car attached garage
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
$76,279
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
4.49%
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%
$1,525,580
$1.5M
Cap Rate 7%
$1,089,700
$1.1M
Cap Rate 9%
$847,544
$847.5K
Market Conditions
NOI Build-Up for 6,024 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
$119.3K $19.80/SF
− Vacancy
−$10.3K −$1.71/SF
EGI
$109.0K $18.09/SF
− OpEx
−$32.7K −$5.43/SF
NOI
$76.3K $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%
$1,525,580
Cap Rate 7%
$1,089,700
Cap Rate 9%
$847,544
Alternative Uses
Best Use
Multifamily LT 5
$1.09M
$953.5K – $1.27M
NOI $76,279 @ 7.0% cap · market cap 4.49%
Second Best
Apartment 5plus
$1.00M
$876.4K – $1.17M
NOI $70,112 @ 7.0% cap · market cap 4.12%
Theoretical Best
Office A
$1.53M
$1.34M – $1.79M
NOI $107,177 @ 7.0% cap · market cap 6.30%
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
1,353
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Main residence includes six bedrooms and three bathrooms, with a separate two-bedroom apartment.
Where is this duplex located?
The property is located at 839 PINE Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 6,024 square feet with a six‑bedroom, three‑bathroom main residence; Separate two‑bedroom apartment included; Two‑car attached garage
