Renovated Bywater Income-Producing
For Sale
$625,000
1039-41 POLAND Avenue, New Orleans, LA 70117
MULTI_FAMILY - New Orleans, LA
Property Size2,400 SF
Lot Size0.06 Acres
Price / SF$260.42
Days on Market406
Property Features for 1039-41 POLAND Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Driveway
Exterior features
Balcony, Courtyard, Driveway Permeable Surface, Fence
Fencing
Fenced
Subdivision
Bywater
Lot features
Regular
Standard status
Active
APN
39W205908
Size
2,400 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Description
SQ 349 LOT 11 26 X 100 1039-41 POLAND AVE
Legal Description
SQ 349 LOT 11 26 X 100 1039-41 POLAND AVE
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Roof type
Shingle, Asphalt
Listing Agency:
Homesmart Realty South · HomeSmart International
(504) 908-7653
Listed By:
John Franco
(504) 908-5037
Added: Jun 21, 2025
Changed: Jul 9
Last Checked: Jul 31 at 7:06AM
MLS# 2505936
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.
Located in New Orleans, this renovated Bywater double at 1039-1041 Poland Ave is an income-producing property. Fully renovated in 2020, each side of this historic double features 3 bedrooms and 2 bathrooms. The renovations included updated systems such as a new roof, HVAC, plumbing, electrical, insulation, siding, and foundation/framing. Historic millwork and high ceilings preserve classic New Orleans charm. The property includes a bonus storage area that offers potential for a private studio or workshop. The lot size is 0.0597 acres and the property size is 2400 square feet. The property features separate meters and is located in Flood Zone X. It is situated just blocks from Crescent Park and other Bywater attractions. This turnkey, cash-flowing property is full of character.
Key Highlights
- Income‑producing Bywater double, turnkey and ready to rent.
- Fully renovated in 2020 from the studs up, including new roof, HVAC, plumbing, electrical, insulation, siding, and foundation/framing.
- Two separate 3‑bedroom, 2‑bath units with separate meters.
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 | $47.5k | $19.80 |
| − Vacancy | −$4.1k | −$1.71 |
| EGI | $43.4k | $18.09 |
| − OpEx | −$13.0k | −$5.43 |
| NOI | $30.4k | $12.66 |
2,400 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
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.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
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
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 - Turnkey New Orleans duplex, renovated in 2020, income-producing.
Where is this duplex located?
The property is located at 1039-41 POLAND Avenue 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: Income‑producing Bywater double, turnkey and ready to rent.; Fully renovated in 2020 from the studs up, including new roof, HVAC, plumbing, electrical, insulation, siding, and foundation/framing.; Two separate 3‑bedroom, 2‑bath units with separate meters.
