New Construction
For Sale
$355,000
1021-1023 Center Street, Arabi, LA 70032
Two-unit residence with upgraded finishes, stainless steel appliances, and a functional interior layout.
Property Size1,659 SF
Days on Market33
Property Features for 1021-1023 Center Street
General Information
Standard status
Active
Size
1,659 SF
Property subtype
Multi Family Home
Additional Details
Multifamily Units
2
Building Details
Building Size
1,659 SF
Year Built
2026
Buildings
1
Stories
1
Construction
New Orleans-style
Listing Agency:
Arpent Realty And Property Man
(504) 220-2777
Listed By:
Mike Fernandez · License #995715563
(504) 220-2777
Source:
Nolalivingrealty
Added: Jul 29
Changed: Aug 29
Last Checked: Aug 22 at 5:23AM
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 Arpent Realty And Property Man
Investment Insights
Based on property information with market context.
Completed in 2026, this 1,659 SF duplex offers two residential units within a New Orleans-style design. Interior details include brick accent walls, coffered ceilings, stainless steel appliances, and a floor plan designed for separate unit living. The newer construction also provides a recently built property with updated finishes and systems.
The property is located at 1021-1023 Center St in Arabi, approximately 10 minutes from Downtown New Orleans. The Mississippi River levee is within walking distance, along with The Kitchen Table Café, Old Arabi Food Store, and Old Arabi Bar. Open green space and no rear neighbors provide added separation behind the property.
The property is located at 1021-1023 Center St in Arabi, approximately 10 minutes from Downtown New Orleans. The Mississippi River levee is within walking distance, along with The Kitchen Table Café, Old Arabi Food Store, and Old Arabi Bar. Open green space and no rear neighbors provide added separation behind the property.
Key Highlights
- Two‑unit duplex completed in 2026
- 1,659 SF property at 1021‑1023 Center St, Arabi, LA 70032
- New Orleans‑style design with brick accent walls and coffered ceilings
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
$18,206
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
5.13%
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%
$364,120
$364.1K
Cap Rate 7%
$260,086
$260.1K
Cap Rate 9%
$202,289
$202.3K
Market Conditions
NOI Build-Up for 1,659 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
$28.5K $17.16/SF
− Vacancy
−$2.5K −$1.48/SF
EGI
$26.0K $15.68/SF
− OpEx
−$7.8K −$4.70/SF
NOI
$18.2K $10.97/SF
Area
St. Bernard County, LA
Vacancy
8.64%
Lease Rate
$17.16 /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%
$364,120
Cap Rate 7%
$260,086
Cap Rate 9%
$202,289
Alternative Uses
Best Use
Multifamily LT 5
$260.1K
$227.6K – $303.4K
NOI $18,206 @ 7.0% cap · market cap 5.13%
Second Best
Apartment 5plus
$243.1K
$212.8K – $283.7K
NOI $17,020 @ 7.0% cap · market cap 4.79%
Theoretical Best
Office A
$437.7K
$383.0K – $510.6K
NOI $30,638 @ 7.0% cap · market cap 8.63%
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
529
Businesses Nearby
Explore this area
Business Placement
Demographics for 70032, LA
4,533
Population
2,160
Households
2.1
Avg Household Size
39
Median Age
23%
College-Educated
80%
High-School Grad
2.0 sq mi
ZIP Area
2,267
Density / Sq Mi
$52,500
Median Household Income
$45,463
Median Earnings
$998
Median Rent
$212,400
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-unit residence with upgraded finishes, stainless steel appliances, and a functional interior layout.
Where is this duplex located?
The property is located at 1021-1023 Center Street Arabi, LA.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: Two‑unit duplex completed in 2026; 1,659 SF property at 1021‑1023 Center St, Arabi, LA 70032; New Orleans‑style design with brick accent walls and coffered ceilings
