Building Details

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Listing Agency: Southern Breeze Real Estate LLC

Listed By: Borne2Sell Realty Show Phone

Source: Borne2sell

Added: Aug 24 Changed: Oct 16 Last Checked: Oct 16 at 8:34AM

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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.

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 / Yr

$21,238

Cap Rate

5.60%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$424,760 $424.8K

Cap Rate 7%

$303,400 $303.4K

Cap Rate 9%

$235,978 $236.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,986 SF

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 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 (±1% cap)

NOI $21,238 @ 7.0% cap · market cap 5.60%

Second Best

Apartment 5plus

$264.0K

$231.0K – $308.0K (±1% cap)

NOI $18,482 @ 7.0% cap · market cap 4.88%

Theoretical Best

Office A

$465.1K

$406.9K – $542.6K (±1% cap)

NOI $32,555 @ 7.0% cap · market cap 8.59%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Parking Lot & Garage Food Market Barber Shop Grocery & Convenience Store Daycare Center (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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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