Historic Duplex with Covered
For Sale
$759,000
1118 20 Milan St, New Orleans, LA 70115
Two-unit property with original architectural details, refreshed kitchens, and a private fenced rear yard.
Property Size2,855 SF
Price / SF$265.85
Days on Market76
Property Features for 1118 20 Milan St
General Information
Standard status
Active
Size
2,855 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
covered porch
second-floor balcony
fenced backyard
Building Details
Year Built
1900
Listing Agency:
Satsuma Real Estate LLC
Listed By:
William King · License #995688927
(504) 345-9737
Source:
Dominionplace
Added: Aug 5
Changed: Oct 5
Last Checked: Oct 16 at 1:42PM
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 Satsuma Real Estate LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1900, this 2,855 SF duplex combines historic character with updated interior features. The property includes two units, each arranged with airy double parlors and kitchens finished with stone countertops. Original wood flooring, mantels, and detailed millwork remain, while a deep covered porch and full-width second-floor balcony define the front elevation.
The property is located at 1118 20 Milan St in New Orleans, between St. Charles and Magazine. It sits two blocks from the Mardi Gras parade route and includes a large fenced backyard. The existing duplex configuration supports use as a two-unit residence, while the source information also identifies the possibility of conversion to a single-family home.
The property is located at 1118 20 Milan St in New Orleans, between St. Charles and Magazine. It sits two blocks from the Mardi Gras parade route and includes a large fenced backyard. The existing duplex configuration supports use as a two-unit residence, while the source information also identifies the possibility of conversion to a single-family home.
Key Highlights
- 2,855 SF duplex built in 1900
- Two units with double‑parlor layouts
- Updated kitchens with stone countertops
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,539
Cap Rate
3.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$490,780
$490.8K
Cap Rate 7%
$350,557
$350.6K
Cap Rate 9%
$272,656
$272.7K
Market Conditions
NOI Build-Up for 2,855 SF
Gross rent
$38.4K $13.44/SF
− Vacancy
−$3.3K −$1.16/SF
EGI
$35.1K $12.28/SF
− OpEx
−$10.5K −$3.68/SF
NOI
$24.5K $8.60/SF
Area
ZIP 70115
Vacancy
8.64%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$490,780
Cap Rate 7%
$350,557
Cap Rate 9%
$272,656
Alternative Uses
Best Use
Multifamily LT 5
$350.6K
$306.7K – $409.0K
NOI $24,539 @ 7.0% cap · market cap 3.23%
Second Best
Apartment 5plus
$310.8K
$271.9K – $362.6K
NOI $21,753 @ 7.0% cap · market cap 2.87%
Theoretical Best
Office A
$753.2K
$659.1K – $878.8K
NOI $52,726 @ 7.0% cap · market cap 6.95%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,748
Businesses Nearby
Explore this area
Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with original architectural details, refreshed kitchens, and a private fenced rear yard.
Where is this duplex located?
The property is located at 1118 20 Milan St New Orleans, LA.
What is the asking price?
The asking price for this property is $759,000.
What are key features of this property?
This property features: 2,855 SF duplex built in 1900; Two units with double‑parlor layouts; Updated kitchens with stone countertops
