Triplex with Garage
New
For Sale
$315,000
1108 N Miro St, New Orleans, LA 70119
Residents handle their own utility costs, and the property includes shared laundry facilities.
Property Size1,513 SF
Price / SF$208.20
Days on Market2
Property Features for 1108 N Miro St
General Information
Standard status
Active
Size
1,513 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Gross Income
$37,200
Multifamily Units
3
Amenities
shared laundry facilities
massive bonus garage and workshop space
Building Details
Year Built
1918
Listing Agency:
Boyd Realtors, LLC
(504) 533-8701
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Oct 7
Last Checked: Oct 7 at 2:14PM
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 Boyd Realtors, LLC
Investment Insights
Based on property information with market context.
This three-unit residential property at 1108 N Miro St in New Orleans includes shared laundry and a separate garage and workshop area with a half bath. The building dates to 1918 and is fully occupied. Residents are responsible for their own utilities.
The garage and workshop provide additional functional space alongside the three residential units.
The garage and workshop provide additional functional space alongside the three residential units.
Key Highlights
- Fully occupied three‑unit property
- Garage and workshop with a half bath
- Shared laundry facilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,158
Cap Rate
6.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$383,160
$383.2K
Cap Rate 7%
$273,686
$273.7K
Cap Rate 9%
$212,867
$212.9K
Market Conditions
NOI Build-Up for 1,513 SF
Gross rent
$30.0K $19.80/SF
− Vacancy
−$2.6K −$1.71/SF
EGI
$27.4K $18.09/SF
− OpEx
−$8.2K −$5.43/SF
NOI
$19.2K $12.66/SF
Area
ZIP 70119
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%
$383,160
Cap Rate 7%
$273,686
Cap Rate 9%
$212,867
Alternative Uses
Best Use
Multifamily LT 5
$273.7K
$239.5K – $319.3K
NOI $19,158 @ 7.0% cap · market cap 6.08%
Second Best
Apartment 5plus
$251.6K
$220.1K – $293.5K
NOI $17,610 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$395.9K
$346.4K – $461.9K
NOI $27,713 @ 7.0% cap · market cap 8.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,712
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
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?
Triplex - Residents handle their own utility costs, and the property includes shared laundry facilities.
Where is this triplex located?
The property is located at 1108 N Miro St New Orleans, LA.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Fully occupied three‑unit property; Garage and workshop with a half bath; Shared laundry facilities
