Renovated Income-Generating
1027 Madison Street Gretna, LA 70053
For Sale
$355,000
Renovated duplex offers open-concept living on each side, with updated kitchens and refreshed bathrooms.
Property Size1,624 SF
Price / SF$218.60
Days on Market108
Property Features for 1027 Madison Street
General Information
- Standard status
- Active
- Size
- 1,624 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1921
Listing Agency:
TJones & Co, LLC
(504) 430-4979
Listed By:
Tyesha Jones · License #995697835
(504) 430-4979
Source:
Compass
Added: Apr 8
Changed: Jul 23
Last Checked: Jul 23 at 2:44AM
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 TJones & Co, LLC
Investment Insights
Based on property information with market context.
This renovated income-producing duplex features an updated, modern design with an open-concept layout on each side. The interiors include updated flooring and abundant natural light, with kitchens equipped with stylish cabinetry, modern fixtures, and upgraded finishes. Both sides also provide spacious bedrooms and refreshed bathrooms.
One unit is currently generating revenue, creating built-in income potential for an owner-occupant or investor. The property is located at 1027 Madison Street in Gretna, with convenient access to shopping and dining on the Westbank.
The configuration supports separate living for each side while maintaining a cohesive, contemporary look throughout the property.
One unit is currently generating revenue, creating built-in income potential for an owner-occupant or investor. The property is located at 1027 Madison Street in Gretna, with convenient access to shopping and dining on the Westbank.
The configuration supports separate living for each side while maintaining a cohesive, contemporary look throughout the property.
Key Highlights
- Renovated double/duplex in Gretna with open‑concept layout on each side
- 4 bedrooms and 2 full bathrooms total; handicap interior provisions
- Each unit features updated kitchens with modern fixtures and stylish cabinetry
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $27.9k | $17.16 |
| − Vacancy | −$2.4k | −$1.48 |
| EGI | $25.5k | $15.68 |
| − OpEx | −$7.6k | −$4.70 |
| NOI | $17.8k | $10.97 |
1,624 SF · lease $17.16/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$254.6K
$222.8K – $297.0K
NOI $17,822 @ 7.0% cap · market cap 5.02%
Second Best
Apartment 5plus
$238.0K
$208.3K – $277.7K
NOI $16,661 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$428.5K
$374.9K – $499.9K
NOI $29,992 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Renovated duplex offers open-concept living on each side, with updated kitchens and refreshed bathrooms.
Where is this duplex located?
The property is located at 1027 Madison Street Gretna, 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: Renovated double/duplex in Gretna with open‑concept layout on each side; 4 bedrooms and 2 full bathrooms total; handicap interior provisions; Each unit features updated kitchens with modern fixtures and stylish cabinetry
