Renovated Two-Unit
For Sale
$625,000
1039-41 Poland Ave, New Orleans, LA 70117
Historic character, separate metering, and flexible storage support the property’s income-producing configuration.
Property Size2,400 SF
Price / SF$260.42
Days on Market86
Property Features for 1039-41 Poland Ave
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
1900
Year Renovated
2020
Buildings
1
Listing Agency:
Homesmart Realty South
Listed By:
John Franco
(504) 343-3300
Source:
Dominionplace
Added: Jul 25
Changed: Oct 3
Last Checked: Oct 7 at 12:59PM
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 Homesmart Realty South
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Investment Insights
Based on property information with market context.
This duplex contains two residential units within approximately 2,400 square feet. Each unit offers three bedrooms and two bathrooms, creating a balanced layout across the property. A 2020 renovation upgraded the roof, HVAC, plumbing, electrical, insulation, siding, and foundation/framing. Original-style millwork and tall ceilings retain the building’s historic New Orleans character, while a separate storage area provides additional interior utility and could accommodate studio or workshop use.
Separate meters serve the two units, and the property is located in Flood Zone X. The address is a short distance from Crescent Park, with parks, galleries, and dining in the surrounding Bywater area. The building was originally constructed in 1900 and combines updated building systems with preserved architectural details.
Separate meters serve the two units, and the property is located in Flood Zone X. The address is a short distance from Crescent Park, with parks, galleries, and dining in the surrounding Bywater area. The building was originally constructed in 1900 and combines updated building systems with preserved architectural details.
Key Highlights
- Two‑unit duplex with 2,400 SF of total property size
- Each unit includes 3 bedrooms and 2 bathrooms
- Renovated in 2020, including roof, HVAC, plumbing, electrical, and structural systems
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,390
Cap Rate
4.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$607,800
$607.8K
Cap Rate 7%
$434,143
$434.1K
Cap Rate 9%
$337,667
$337.7K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$47.5K $19.80/SF
− Vacancy
−$4.1K −$1.71/SF
EGI
$43.4K $18.09/SF
− OpEx
−$13.0K −$5.43/SF
NOI
$30.4K $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 Rate 5%
$607,800
Cap Rate 7%
$434,143
Cap Rate 9%
$337,667
Alternative Uses
Best Use
Multifamily LT 5
$434.1K
$379.9K – $506.5K
NOI $30,390 @ 7.0% cap · market cap 4.86%
Second Best
Apartment 5plus
$399.0K
$349.2K – $465.6K
NOI $27,933 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$610.0K
$533.8K – $711.7K
NOI $42,700 @ 7.0% cap · market cap 6.83%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
765
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Historic character, separate metering, and flexible storage support the property’s income-producing configuration.
Where is this duplex located?
The property is located at 1039-41 Poland Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,400 SF of total property size; Each unit includes 3 bedrooms and 2 bathrooms; Renovated in 2020, including roof, HVAC, plumbing, electrical, and structural systems
