New Construction
New
For Sale
$389,000
8926 FORSHEY Street, New Orleans, LA 70118
Multi-Family, Traditional, New Orleans, LA
Property Size2,450 SF
Price / SF$158.78
Days on Market3
Property Features for 8926 FORSHEY Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Parking features
Driveway
Exterior features
Fence
Fencing
Fenced
Lot features
Regular
Standard status
Active
APN
716405807
Size
2,450 SF
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
fenced backyard
off-street parking
Building Details
Year built
2026
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
Galiano Realty
(504) 256-6311
Listed By:
Nicholas Galiano
(504) 218-1006
Added: Sep 8
Changed: Sep 9
Last Checked: Sep 10 at 10:06AM
MLS# 2575421
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 duplex is under construction with two private residential units and a combined interior area of 2,450 square feet. Each unit is planned with an open floor plan, high ceilings, wood flooring, and connected living and dining areas. Kitchens include extensive cabinetry, stone countertops, stainless steel appliances, breakfast bars, and modern fixtures. Primary suites feature soaking tubs and separate walk-in showers, while additional bedrooms include designer tile, contemporary vanities, and updated fixtures.
The property includes a fenced backyard, driveway parking, central heating, central air conditioning, public water service, and a shingle roof. Built in 2026, the duplex is located in New Orleans, Louisiana, with access to downtown, restaurants, shopping, and major thoroughfares.
The property includes a fenced backyard, driveway parking, central heating, central air conditioning, public water service, and a shingle roof. Built in 2026, the duplex is located in New Orleans, Louisiana, with access to downtown, restaurants, shopping, and major thoroughfares.
Key Highlights
- 2,450 square feet of combined interior area
- Two private units with open floor plans and high ceilings
- Kitchens with stone counters, stainless steel appliances, breakfast bars, and extensive cabinetry
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
$31,023
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
7.98%
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%
$620,460
$620.5K
Cap Rate 7%
$443,186
$443.2K
Cap Rate 9%
$344,700
$344.7K
Market Conditions
NOI Build-Up for 2,450 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
$48.5K $19.80/SF
− Vacancy
−$4.2K −$1.71/SF
EGI
$44.3K $18.09/SF
− OpEx
−$13.3K −$5.43/SF
NOI
$31.0K $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%
$620,460
Cap Rate 7%
$443,186
Cap Rate 9%
$344,700
Alternative Uses
Best Use
Multifamily LT 5
$443.2K
$387.8K – $517.1K
NOI $31,023 @ 7.0% cap · market cap 7.98%
Second Best
Apartment 5plus
$407.4K
$356.4K – $475.3K
NOI $28,515 @ 7.0% cap · market cap 7.33%
Theoretical Best
Office A
$622.7K
$544.9K – $726.5K
NOI $43,590 @ 7.0% cap · market cap 11.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
558
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Two private units offer open layouts, upgraded kitchens, fenced outdoor space, and driveway parking.
Where is this duplex located?
The property is located at 8926 FORSHEY Street New Orleans, LA.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: 2,450 square feet of combined interior area; Two private units with open floor plans and high ceilings; Kitchens with stone counters, stainless steel appliances, breakfast bars, and extensive cabinetry
