Renovated Historic
New
For Sale
$425,000
1030 GALLIER Street, New Orleans, LA 70117
Multi-Family, Shot Gun, New Orleans, LA
Property Size2,127 SF
Price / SF$199.81
Days on Market4
Property Features for 1030 GALLIER Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Off Street, Driveway
Patio and Porch features
Porch
Exterior features
Fence, Porch
Fencing
Fenced
Lot features
Regular
Subdivision
Bywater
Standard status
Active
APN
39W206610
Size
2,127 SF
Taxes and HOA fees
Tax Description
SQ 359 LOTS 3 4 GALLIER 53X120 W/FR SHOTGUN DBLE 10/RM C/R 1030-32 GALLIER ST
Legal Description
SQ 359 LOTS 3 4 GALLIER 53X120 W/FR SHOTGUN DBLE 10/RM C/R 1030-32 GALLIER ST
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1842
Floors in Building
1
Number of units
2
Architectural style
Other
Listing Agency:
Crane Realtors
(504) 210-2014
Listed By:
Aaron Dare · License #995681183
(504) 210-2014
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 22 at 8:06AM
MLS# 2573084
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.
This 2,127-square-foot duplex at 1030 Gallier Street includes a renovated studio residence and a larger owner-occupied unit with three bedrooms and three bathrooms. Improvements include updated electrical, plumbing, heating and air-conditioning systems, along with structural work in the crawlspace. Portions of the larger unit remain unfinished, including two bathrooms and the kitchen, allowing the next owner to complete the configuration.
Built in 1842, the property retains six fireplaces, original heart pine floors, exposed brick, decorative ceiling medallions, original wood doors, and ceilings exceeding 12 feet. The approximately 9-year-old roof includes an 8KW solar panel system. Fenced grounds feature mature trees, established landscaping, side-yard green space, a porch, and separate driveways on each side for off-street parking. Public water serves the property.
Built in 1842, the property retains six fireplaces, original heart pine floors, exposed brick, decorative ceiling medallions, original wood doors, and ceilings exceeding 12 feet. The approximately 9-year-old roof includes an 8KW solar panel system. Fenced grounds feature mature trees, established landscaping, side-yard green space, a porch, and separate driveways on each side for off-street parking. Public water serves the property.
Key Highlights
- 2,127‑square‑foot duplex built in 1842
- Renovated studio plus owner‑occupied three‑bedroom, three‑bath residence
- Six fireplaces, original heart pine floors, exposed brick, and 12'+ 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
$26,933
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
6.34%
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%
$538,660
$538.7K
Cap Rate 7%
$384,757
$384.8K
Cap Rate 9%
$299,256
$299.3K
Market Conditions
NOI Build-Up for 2,127 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
$42.1K $19.80/SF
− Vacancy
−$3.6K −$1.71/SF
EGI
$38.5K $18.09/SF
− OpEx
−$11.5K −$5.43/SF
NOI
$26.9K $12.66/SF
Area
New Orleans, LA
Vacancy
8.64%
Lease Rate
$19.80 /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%
$538,660
Cap Rate 7%
$384,757
Cap Rate 9%
$299,256
Alternative Uses
Best Use
Multifamily LT 5
$384.8K
$336.7K – $448.9K
NOI $26,933 @ 7.0% cap · market cap 6.34%
Second Best
Apartment 5plus
$353.7K
$309.5K – $412.6K
NOI $24,756 @ 7.0% cap · market cap 5.82%
Theoretical Best
Office A
$540.6K
$473.0K – $630.7K
NOI $37,843 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,368
Businesses Nearby
Explore this area
Business Placement
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
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 - Classic architectural details accompany completed improvements and unfinished areas ready for further customization.
Where is this duplex located?
The property is located at 1030 GALLIER Street New Orleans, LA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 2,127‑square‑foot duplex built in 1842; Renovated studio plus owner‑occupied three‑bedroom, three‑bath residence; Six fireplaces, original heart pine floors, exposed brick, and 12'+ ceilings
