Residential Income Duplex
For Sale
$230,000
8615 BIRCH Street, New Orleans, LA 70118
MULTI_FAMILY - New Orleans, LA
Property Size1,631 SF
Lot Size0.11 Acres
Price / SF$141.02
Days on Market20
Property Features for 8615 BIRCH Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Off Street
Lot features
Regular
Subdivision
Leonidas
Standard status
Active
APN
716206522
Size
1,631 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
SQ 207 LOT R-3 BIRCH 33 8 X 150 8615-17 BIRCH
Legal Description
SQ 207 LOT R-3 BIRCH 33 8 X 150 8615-17 BIRCH
Utilities
Heating system
Central
Cooling system
Window Unit(s), Central Air
Water source
Public
Building Details
Year built
1940
Floors in Building
1
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
Service 1st Real Estate
(225) 503-2525
Listed By:
Ashley Stevenson
(504) 220-7297
Added: Jul 21
Changed: Aug 5
Last Checked: Aug 9 at 12:06PM
MLS# 2568768
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.
8615–17 Birch Street is a multifamily residential income property in the Leonidas area of New Orleans, LA 70118. The offering totals 1,631 square feet on a 0.1136-acre lot and is being sold as-is, with the property requiring some care and updates for its next ownership chapter.
The location is described as being in the South Carrollton Avenue area with streetcar and transit access nearby. The property is ready for an investor or owner-operator looking to reposition a residential income asset in Uptown/New Orleans.
This is an as-is sale of a small-scale income property at 8615 BIRCH Street, suited for buyers who plan to bring it back to full operating condition.
The location is described as being in the South Carrollton Avenue area with streetcar and transit access nearby. The property is ready for an investor or owner-operator looking to reposition a residential income asset in Uptown/New Orleans.
This is an as-is sale of a small-scale income property at 8615 BIRCH Street, suited for buyers who plan to bring it back to full operating condition.
Key Highlights
- Leonidas area (ZIP 70118), near the South Carrollton Ave streetcar/transit corridor
- Built in 1940
- Central heating
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
$20,653
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
8.98%
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%
$413,060
$413.1K
Cap Rate 7%
$295,043
$295.0K
Cap Rate 9%
$229,478
$229.5K
Market Conditions
NOI Build-Up for 1,631 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
$32.3K $19.80/SF
− Vacancy
−$2.8K −$1.71/SF
EGI
$29.5K $18.09/SF
− OpEx
−$8.9K −$5.43/SF
NOI
$20.7K $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%
$413,060
Cap Rate 7%
$295,043
Cap Rate 9%
$229,478
Alternative Uses
Best Use
Multifamily LT 5
$295.0K
$258.2K – $344.2K
NOI $20,653 @ 7.0% cap · market cap 8.98%
Second Best
Apartment 5plus
$271.2K
$237.3K – $316.4K
NOI $18,983 @ 7.0% cap · market cap 8.25%
Theoretical Best
Office A
$414.5K
$362.7K – $483.6K
NOI $29,018 @ 7.0% cap · market cap 12.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
875
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 - Multifamily residential income property near transit access, sized at 1,631 square feet on a 0.1136-acre lot.
Where is this duplex located?
The property is located at 8615 BIRCH Street New Orleans, LA.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Leonidas area (ZIP 70118), near the South Carrollton Ave streetcar/transit corridor; Built in 1940; Central heating
