Duplex with Separate Utility
New
For Sale
$150,000
1005 ATLANTIC Avenue, New Orleans, LA 70114
Multi-Family, Shot Gun, New Orleans, LA
Property Size1,117 SF
Lot Size0.09 Acres
Price / SF$134.29
Days on Market2
Property Features for 1005 ATLANTIC Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Patio and Porch features
Porch
Exterior features
Porch
Lot features
Regular
Standard status
Active
APN
513207315
Size
1,117 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Description
SQ 176 LOT 19 32 X 124 1005/1007 ATLANTIC AV
Legal Description
SQ 176 LOT 19 32 X 124 1005/1007 ATLANTIC AV
Utilities
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1950
Floors in Building
1
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
(504) 455-0100
Listed By:
Mary Danna · License #995689808
(504) 517-6533
Added: Oct 9
Last Checked: Oct 10 at 7:06PM
MLS# 2580660
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.
Built in 1950, this raised duplex contains 1,117 square feet on a 0.0911-acre lot. The property includes a porch, window-unit cooling, a shingle roof, and public water service. Flooring is carpet-free, and the gas water heater was replaced one year ago. Electricity is metered separately for each residence, while water is shared through one meter.
The property is in Algiers, with access to the Algiers Point ferry, local dining, and the Mississippi River levee trail.
The property is in Algiers, with access to the Algiers Point ferry, local dining, and the Mississippi River levee trail.
Key Highlights
- 1,117‑square‑foot duplex on a 0.0911‑acre lot
- Separate electric meters; one shared water meter
- Gas water heater is one year old
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,001
Cap Rate
8.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$260,020
$260.0K
Cap Rate 7%
$185,729
$185.7K
Cap Rate 9%
$144,456
$144.5K
Market Conditions
NOI Build-Up for 1,117 SF
Gross rent
$26.0K $23.28/SF
− Vacancy
−$2.4K −$2.12/SF
EGI
$23.6K $21.16/SF
− OpEx
−$10.6K −$9.52/SF
NOI
$13.0K $11.64/SF
Area
New Orleans, LA
Vacancy
9.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$260,020
Cap Rate 7%
$185,729
Cap Rate 9%
$144,456
Alternative Uses
Best Use
Multifamily LT 5
$202.1K
$176.8K – $235.7K
NOI $14,144 @ 7.0% cap · market cap 9.43%
Second Best
Apartment 5plus
$185.7K
$162.5K – $216.7K
NOI $13,001 @ 7.0% cap · market cap 8.67%
Theoretical Best
Office A
$283.9K
$248.4K – $331.2K
NOI $19,873 @ 7.0% cap · market cap 13.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
486
Businesses Nearby
Explore this area
Business Placement
Demographics for 70114, LA
23,127
Population
11,860
Households
2
Avg Household Size
38
Median Age
26%
College-Educated
86%
High-School Grad
5.1 sq mi
ZIP Area
4,535
Density / Sq Mi
$41,435
Median Household Income
$31,743
Median Earnings
$1,113
Median Rent
$194,100
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
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Frequently Asked Questions
What type of property is this?
Duplex - The two residences have individual electric meters and share a single water meter.
Where is this duplex located?
The property is located at 1005 ATLANTIC Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: 1,117‑square‑foot duplex on a 0.0911‑acre lot; Separate electric meters; one shared water meter; Gas water heater is one year old
