Spanish-Style Duplex with Rental
1114-16 Second Street New Orleans, LA 70130
1114-16 Second Street, New Orleans, LA, 70130
$825,000
For Sale
$825,000
Two well-maintained units sit above a garage with tandem parking and substantial storage, supported by a new 2024 Fortified roof.
Property Size2,168 SF
Price / SF$380.54
Days on Market261
Property Features for 1114-16 Second Street
General Information
- Standard status
- Active
- Size
- 2,168 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1915
Listing agency
REVE, REALTORS
(504) 352-3303
Listed by
Tracey Moore · License #000073376
(504) 352-3303
Source
Compass
Added: Nov 4, 2025 Updated: Jul 22 at 7:17PM Checked: Jul 22 at 7:17PM
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 REVE, REALTORS
Investment Insights
Based on property information with market context.
This Spanish-style duplex features a ground-level garage with room for two vehicles in tandem, along with substantial storage space above. The upper level includes two separate 2-bedroom, 1-bath units, each with access to a private front balcony. A brand-new Fortified roof was installed in 2024, supporting reduced insurance costs per the seller’s statement.
The unit directly over the garage is owner occupied, and the other upper unit is tenant occupied, creating immediate rental income. Both units have separate meters for added convenience.
Located at 1114-16 Second Street in New Orleans’ Garden District, the property is positioned within walking distance of the shops and restaurants along Magazine Street and near local attractions referenced in the remarks.
The unit directly over the garage is owner occupied, and the other upper unit is tenant occupied, creating immediate rental income. Both units have separate meters for added convenience.
Located at 1114-16 Second Street in New Orleans’ Garden District, the property is positioned within walking distance of the shops and restaurants along Magazine Street and near local attractions referenced in the remarks.
Key Highlights
- Spanish‑style duplex built in 1915 with 2 units above a garage and central heating/cooling
- Garage offers tandem parking for 2 vehicles plus over 1,000 sq. ft. of versatile storage space
- Each unit features 2 bedrooms and 1 full bathroom, with balconies at the front of the units
Local 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 | $42.9k | $19.80 |
| − Vacancy | −$3.7k | −$1.71 |
| EGI | $39.2k | $18.09 |
| − OpEx | −$11.8k | −$5.43 |
| NOI | $27.5k | $12.66 |
2,168 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$392.2K
$343.2K – $457.5K
NOI $27,452 @ 7.0% cap · market cap 3.33%
Second Best
Apartment 5plus
$360.5K
$315.4K – $420.6K
NOI $25,233 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$551.0K
$482.2K – $642.9K
NOI $38,572 @ 7.0% cap · market cap 4.68%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two well-maintained units sit above a garage with tandem parking and substantial storage, supported by a new 2024 Fortified roof.
Where is this duplex located?
The property is located at 1114-16 Second Street New Orleans, LA.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Spanish‑style duplex built in 1915 with 2 units above a garage and central heating/cooling; Garage offers tandem parking for 2 vehicles plus over 1,000 sq. ft. of versatile storage space; Each unit features 2 bedrooms and 1 full bathroom, with balconies at the front of the units
