Historic Two-Unit
For Sale
$249,000
1005-07 Marigny St, New Orleans, LA 70117
Two lodging suites operate with guest-use infrastructure in place and HMC-2 zoning.
Property Size1,400 SF
Price / SF$177.86
Days on Market49
Property Features for 1005-07 Marigny St
General Information
Standard status
Active
Size
1,400 SF
Zoning
HMC-2
Site & Location
Neighborhood
Marigny
Additional Details
Multifamily Units
2
Building Details
Year Built
1850
Listing Agency:
Parish Realty of Louisiana Inc
Listed By:
Gerard Bourgeois · License #995708368
(504) 236-3311
Source:
Dominionplace
Added: Sep 7
Changed: Oct 10
Last Checked: Oct 24 at 5:59PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Parish Realty of Louisiana Inc
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Investment Insights
Based on property information with market context.
This 1,400-square-foot duplex, built in 1850, is configured as two suites within a historic structure. The property currently supports lodging operations with infrastructure already established for guest accommodation. Its two-unit layout offers an existing income-producing configuration, subject to buyer verification of operating and regulatory details.
The property is located at 1005-07 Marigny St in New Orleans, positioned near the Elysian Fields and St. Claude corridor and across from Robért Fresh Market. The French Quarter, Frenchmen Street, and Bywater are within walking distance. HMC-2 zoning applies within the Historic Marigny/Tremé/Bywater Commercial District. Potential future work described for the property includes rear reconfiguration for outdoor space and a rear camelback addition, with all zoning, permitting, entitlement, and incentive matters requiring independent verification.
The property is located at 1005-07 Marigny St in New Orleans, positioned near the Elysian Fields and St. Claude corridor and across from Robért Fresh Market. The French Quarter, Frenchmen Street, and Bywater are within walking distance. HMC-2 zoning applies within the Historic Marigny/Tremé/Bywater Commercial District. Potential future work described for the property includes rear reconfiguration for outdoor space and a rear camelback addition, with all zoning, permitting, entitlement, and incentive matters requiring independent verification.
Key Highlights
- 1,400‑square‑foot duplex built in 1850
- Currently arranged as two lodging suites
- Existing guest‑use and lodging infrastructure
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,727
Cap Rate
7.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$354,540
$354.5K
Cap Rate 7%
$253,243
$253.2K
Cap Rate 9%
$196,967
$197.0K
Market Conditions
NOI Build-Up for 1,400 SF
Gross rent
$27.7K $19.80/SF
− Vacancy
−$2.4K −$1.71/SF
EGI
$25.3K $18.09/SF
− OpEx
−$7.6K −$5.43/SF
NOI
$17.7K $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 Rate 5%
$354,540
Cap Rate 7%
$253,243
Cap Rate 9%
$196,967
Alternative Uses
Best Use
Multifamily LT 5
$253.2K
$221.6K – $295.5K
NOI $17,727 @ 7.0% cap · market cap 7.12%
Second Best
Apartment 5plus
$232.8K
$203.7K – $271.6K
NOI $16,294 @ 7.0% cap · market cap 6.54%
Theoretical Best
Office A
$355.8K
$311.4K – $415.1K
NOI $24,908 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,240
Businesses Nearby
Explore this area
Business Placement
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two lodging suites operate with guest-use infrastructure in place and HMC-2 zoning.
Where is this duplex located?
The property is located at 1005-07 Marigny St New Orleans, LA.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: 1,400‑square‑foot duplex built in 1850; Currently arranged as two lodging suites; Existing guest‑use and lodging infrastructure
