Updated Two-Unit
For Sale
$379,000
1124 Athania Parkway, Metairie, LA 70001
Residential Income, Metairie, LA
Property Size1,986 SF
Lot Size0.14 Acres
Price / SF$190.84
Days on Market13
Property Features for 1124 Athania Parkway
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
4
Parking features
On Street, Parking Lot
Interior features
9+ Ft. Ceiling, Gas Stove Con., Master Bath
Exterior features
Lighting
Fencing
Chain Link
Appliances
Washer/Dryer All, Dishwasher, Range/Oven, Refrigerator
Subdivision
Athania Addition
Elementary school district
Jefferson Parish
Middle school district
Jefferson Parish
High school district
Jefferson Parish
Directions
From I-10, take the Clearview Pkwy exit toward Metairie. Head south on Clearview Pkwy, turn onto W Metairie Ave, then turn onto Athania Pkwy. Continue to 1124 Athania Pkwy."
Standard status
Active
Size
1,986 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Description
LOT 12 SQ 8 ATHANIA ADD #1
Legal Description
LOT 12 SQ 8 ATHANIA ADD #1
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
large fenced backyard
Building Details
Flooring type
Tile - Ceramic
Building materials
Brick Siding, Brick
Roof type
Shingle
Listing Agency:
Homecoin.com
(888) 400-2513
Listed By:
Jonathan Minerick · License #01523060
(888) 400-2513
Added: Aug 20
Changed: Aug 22
Last Checked: Sep 1 at 5:06AM
MLS# 2026015544
Copyright © 2026 Greater Baton Rouge Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This one-story duplex contains two updated units with bright living areas, refreshed kitchens, renovated bathrooms, neutral paint, and modern flooring. Central heating and air conditioning, natural-gas service, ceramic tile, and included appliances support practical day-to-day occupancy. The brick property also offers 9+ Ft. Ceiling, a shingle roof, and a functional layout suited to separate residential use.
The property is located at 1124 Athania Parkway in Metairie, near Causeway, Veterans, Airline, and I-10. The 0.14-acre lot includes a chain-link fenced backyard and parking areas, while public water and public sewer serve the property. Additional features include washer/dryer appliances, a dishwasher, range/oven, refrigerator, and master baths.
The property is located at 1124 Athania Parkway in Metairie, near Causeway, Veterans, Airline, and I-10. The 0.14-acre lot includes a chain-link fenced backyard and parking areas, while public water and public sewer serve the property. Additional features include washer/dryer appliances, a dishwasher, range/oven, refrigerator, and master baths.
Key Highlights
- Two updated residential units in a one‑story duplex
- 0.14‑acre lot with a chain‑link fenced backyard
- 9+ Ft. Ceiling and ceramic tile flooring
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - One-story duplex with renovated interiors, fenced backyard, and off-street parking near major Metairie corridors.
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 residential units in a one‑story duplex; 0.14‑acre lot with a chain‑link fenced backyard; 9+ Ft. Ceiling and ceramic tile flooring
