Renovated Income-Generating
For Sale
$350,000
1027 Madison Street, Gretna, LA 70053
Renovated duplex offers open-concept living on each side, with updated kitchens and refreshed bathrooms.
Property Size1,624 SF
Price / SF$215.52
Days on Market94
Property Features for 1027 Madison Street
General Information
Standard status
Active
Size
1,624 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Additional Details
Multifamily Units
2
Amenities
Central Air
Central
1
2
4
Asphalt
Pillar/Post/Pier
Wood Siding
Building Details
Year Built
1921
Listing Agency:
TJones & Co, LLC
(504) 430-4979
Listed By:
T Jones · License #995697835
(504) 430-4979
Source:
Compass
Added: May 8
Changed: Aug 8
Last Checked: Aug 9 at 11:57AM
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
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
$17,822
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
5.09%
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%
$356,440
$356.4K
Cap Rate 7%
$254,600
$254.6K
Cap Rate 9%
$198,022
$198.0K
Market Conditions
NOI Build-Up for 1,624 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
$27.9K $17.16/SF
− Vacancy
−$2.4K −$1.48/SF
EGI
$25.5K $15.68/SF
− OpEx
−$7.6K −$4.70/SF
NOI
$17.8K $10.97/SF
Area
Jefferson 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%
$356,440
Cap Rate 7%
$254,600
Cap Rate 9%
$198,022
Alternative Uses
Best Use
Multifamily LT 5
$254.6K
$222.8K – $297.0K
NOI $17,822 @ 7.0% cap · market cap 5.09%
Second Best
Apartment 5plus
$238.0K
$208.3K – $277.7K
NOI $16,661 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$428.5K
$374.9K – $499.9K
NOI $29,992 @ 7.0% cap · market cap 8.57%
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
1,201
Businesses Nearby
Explore this area
Business Placement
Demographics for 70053, LA
16,509
Population
7,865
Households
2.1
Avg Household Size
39
Median Age
24%
College-Educated
75%
High-School Grad
3.4 sq mi
ZIP Area
4,856
Density / Sq Mi
$43,786
Median Household Income
$31,667
Median Earnings
$1,017
Median Rent
$225,700
Median Home Value
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 - 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 $350,000.
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
