Updated One-Story
For Sale
$379,000
1124 Athania Parkway, Metairie, LA 70001
Two refreshed units provide flexible owner-occupant and rental-use options in central Metairie.
Property Size1,986 SF
Price / SF$190.84
Days on Market9
Property Features for 1124 Athania Parkway
General Information
Standard status
Active
Size
1,986 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Buildings
1
Stories
1
Listing Agency:
Keller Williams Realty Bayou P
(225) 937-0900
Listed By:
Borne2Sell Realty
(225) 937-0900
Source:
Borne2sell
Added: Aug 24
Changed: Aug 31
Last Checked: Aug 31 at 3:08PM
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 Keller Williams Realty Bayou P
Investment Insights
Based on property information with market context.
This one-story duplex at 1124 Athania Parkway includes two updated residential units with bright living areas, contemporary kitchens, renovated bathrooms, neutral finishes, and modern flooring. The straightforward layout supports either owner occupancy with rental income from the second unit or leasing both units, as supported by the existing configuration.
The property includes a well-kept lot, a large fenced backyard, and off-street parking. Its Metairie setting places the property minutes from Causeway, Veterans, Airline, and I-10, with shopping and schools also identified nearby. Both units are described as move-in ready, offering a maintained residential income property with practical outdoor and parking features.
The property includes a well-kept lot, a large fenced backyard, and off-street parking. Its Metairie setting places the property minutes from Causeway, Veterans, Airline, and I-10, with shopping and schools also identified nearby. Both units are described as move-in ready, offering a maintained residential income property with practical outdoor and parking features.
Key Highlights
- Two updated units in a one‑story duplex configuration
- Renovated kitchens and bathrooms with modern flooring
- Large fenced backyard on a well‑kept lot
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
$21,238
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
5.60%
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%
$424,760
$424.8K
Cap Rate 7%
$303,400
$303.4K
Cap Rate 9%
$235,978
$236.0K
Market Conditions
NOI Build-Up for 1,986 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
$32.2K $16.20/SF
− Vacancy
−$1.8K −$0.92/SF
EGI
$30.3K $15.28/SF
− OpEx
−$9.1K −$4.58/SF
NOI
$21.2K $10.69/SF
Area
Metairie, LA
Vacancy
5.70%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$424,760
Cap Rate 7%
$303,400
Cap Rate 9%
$235,978
Alternative Uses
Best Use
Multifamily LT 5
$303.4K
$265.5K – $354.0K
NOI $21,238 @ 7.0% cap · market cap 5.60%
Second Best
Apartment 5plus
$264.0K
$231.0K – $308.0K
NOI $18,482 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$465.1K
$406.9K – $542.6K
NOI $32,555 @ 7.0% cap · market cap 8.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,618
Businesses Nearby
Explore this area
Business Placement
Demographics for 70001, LA
40,068
Population
19,103
Households
2.1
Avg Household Size
39
Median Age
37%
College-Educated
93%
High-School Grad
6.5 sq mi
ZIP Area
6,164
Density / Sq Mi
$70,187
Median Household Income
$43,662
Median Earnings
$1,145
Median Rent
$313,300
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?
Duplex - Two refreshed units provide flexible owner-occupant and rental-use options in central Metairie.
Where is this duplex located?
The property is located at 1124 Athania Parkway Metairie, LA.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: Two updated units in a one‑story duplex configuration; Renovated kitchens and bathrooms with modern flooring; Large fenced backyard on a well‑kept lot
