Six-Unit Apartment
New
For Sale
$899,000
1039 MARAIS Street, New Orleans, LA 70116
The property combines one- and two-bedroom residences on a corner parcel.
Property Size4,460 SF
Lot Size0.08 Acres
Price / SF$201.57
Days on Market7
Property Features for 1039 MARAIS Street
General Information
Standard status
Active
Size
4,460 SF
Lot size
0.08 Acres
Property subtype
Apartment
Units
Unit Mix
3 x 2BR, 3 x 1BR
Multifamily Units
6
Building Details
Building Size
4,460 SF
Year Built
1978
Year Renovated
2019
Listing Agency:
Bridgewater Realty Advisors, LLC
Listed By:
Bryce Danna-Marullo · License #995705186
(504) 301-5583
Source:
Ewbank.kw
Added: Sep 28
Changed: Oct 1
Last Checked: Oct 4 at 6:47AM
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 Bridgewater Realty Advisors, LLC
Investment Insights
Based on property information with market context.
At 1039 Marais Street, this six-unit apartment property contains approximately 4,460 gross square feet. Its residences comprise three one-bedroom apartments and three two-bedroom apartments. Renovation work was completed in 2019, and the building occupies a 30' x 112' corner lot.
The property is in New Orleans’ Tremé neighborhood, within the New Orleans Historic District Landmarks Commission Tremé district. The French Quarter is described as steps away, along with cultural destinations in the city.
The property is in New Orleans’ Tremé neighborhood, within the New Orleans Historic District Landmarks Commission Tremé district. The French Quarter is described as steps away, along with cultural destinations in the city.
Key Highlights
- Six apartments: three one‑bedroom units and three two‑bedroom units
- Approximately 4,460 gross square feet
- Renovated in 2019
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
$51,909
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
5.77%
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%
$1,038,180
$1.0M
Cap Rate 7%
$741,557
$741.6K
Cap Rate 9%
$576,767
$576.8K
Market Conditions
NOI Build-Up for 4,460 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
$103.8K $23.28/SF
− Vacancy
−$9.4K −$2.12/SF
EGI
$94.4K $21.16/SF
− OpEx
−$42.5K −$9.52/SF
NOI
$51.9K $11.64/SF
Area
New Orleans, LA
Vacancy
9.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$1,038,180
Cap Rate 7%
$741,557
Cap Rate 9%
$576,767
Alternative Uses
Best Use
Apartment 5plus
$741.6K
$648.9K – $865.2K
NOI $51,909 @ 7.0% cap · market cap 5.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.13M
$991.9K – $1.32M
NOI $79,351 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
2,963
Businesses Nearby
Explore this area
Business Placement
Demographics for 70116, LA
10,676
Population
9,620
Households
1.1
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
8,212
Density / Sq Mi
$45,580
Median Household Income
$34,849
Median Earnings
$1,190
Median Rent
$385,100
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
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Frequently Asked Questions
What type of property is this?
Apartment building - The property combines one- and two-bedroom residences on a corner parcel.
Where is this apartment building located?
The property is located at 1039 MARAIS Street New Orleans, LA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Six apartments: three one‑bedroom units and three two‑bedroom units; Approximately 4,460 gross square feet; Renovated in 2019
