Duplex with Separate Electric
For Sale
$150,000
1005 ATLANTIC Avenue, New Orleans, LA 70114
Multifamily, New Orleans, LA
Property Size1,117 SF
Lot Size0.09 Acres
Price / SF$134.29
Days on Market15
Property Features for 1005 ATLANTIC Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 2
Patio and Porch features
Porch
Directions
https://maps.app.goo.gl/2esUU1G1C6FVPsjs9
Standard status
Active
APN
513207315
Size
1,117 SF
Lot size
0.09 Acres
Additional Details
Individually Metered Utilities
electricity
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
Utilities
Natural Gas Available
Sewer type
Public Sewer
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1950
Number of units
2
Architectural style
Shotgun
Listing Agency:
KELLER WILLIAMS REALTY 4550100
(504) 455-0100
Listed By:
Mary E Danna · License #995689808
(504) 517-6533
Added: Oct 9
Changed: Oct 23
Last Checked: Oct 23 at 3:06PM
MLS# 2580660
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This raised shotgun-style duplex contains 1,117 square feet on a 0.0911-acre lot. Built in 1950, the property has no carpet, a porch, and window-unit cooling. Its gas water heater is one year old. Electric service is separately metered for each side, while the property shares a single water meter. Public water and sewer are available, along with natural gas.
In Algiers, the property has access to the Algiers Point ferry, local dining, and the Mississippi River levee trail. The two-bedroom, two-bathroom room count provides a basic residential configuration for the duplex.
In Algiers, the property has access to the Algiers Point ferry, local dining, and the Mississippi River levee trail. The two-bedroom, two-bathroom room count provides a basic residential configuration for the duplex.
Key Highlights
- 1,117 square feet on a 0.0911‑acre lot
- Raised shotgun‑style duplex built in 1950
- Separate electric meters; one shared water meter
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.
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Lease Details
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - A raised shotgun-style rental property has two electric meters and a shared 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 feet on a 0.0911‑acre lot; Raised shotgun‑style duplex built in 1950; Separate electric meters; one shared water meter
