Historic Two-Unit
New
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 Market3
Property Features for 1005-07 Marigny St
General Information
Standard status
Active
Size
1,400 SF
Zoning
HMC-2
Additional Details
Multifamily Units
2
Building Details
Year Built
1850
Listing Agency:
Parish Realty of Louisiana Inc
Listed By:
Gerard Bourgeois · License #995708368
(504) 421-2440
Source:
Dominionplace
Added: Sep 7
Changed: Sep 8
Last Checked: Sep 8 at 11:06AM
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
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 = 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
$17,727
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
7.12%
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%
$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
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
$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 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%
$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.
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
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 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
