Two-Unit Residential Income
1127 FERN Street New Orleans, LA 70118
1127 FERN Street, New Orleans, LA, 70118
$459,000
Pending
For Sale
$459,000
Pending
MULTI_FAMILY - New Orleans, LA
Property Size2,719 SF
Days on Market599
Property Features for 1127 FERN Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- Driveway
- Exterior features
- Fence
- Fencing
- Fenced
- Standard status
- Pending
- Size
- 2,719 SF
Taxes and HOA fees
- Tax Description
- Sq 131 PT Lots 15-16 Fern 34x120 Apt A & B
Utilities
- Heating system
- Central
- Cooling system
- Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1944
- Floors in Building
- 2
- Number of units
- 2
- Architectural style
- Other
Listing Agency
Realty One Group Immobilia
(504) 405-3211
3445 N Causeway Blvd PH 1005, Mandeville, LA
Listed by
Kim Catalano · License #000050350
(504) 228-6399
Added: Nov 25, 2024 Checked: Jul 17 at 3:06 pm
MLS# 2477314
Listing URL
Copyright © 2026 New Orleans Metropolitan 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 two-unit residential income property features a lower and upper unit, each with two bedrooms and one bath. The lower unit includes wood floors, renovated details noted as completed in 2013, fresh paint, new light fixtures and fans, and a fully equipped kitchen with dishwasher, range oven, microwave, and refrigerator. Indoor laundry is provided with a washer and dryer, and the unit is described as prewired for telephone and cable. Off-street parking is available for one vehicle.
The upper unit is also configured as two bedrooms and one bath and is described as having refinished floors and updated light fixtures and fans. The kitchen is equipped with granite counter tops plus microwave, dishwasher, refrigerator, and range oven. Indoor laundry includes a washer and dryer, and the porch has been enclosed for additional living space. The upper unit is all electric, with prewiring noted for cable and telephone.
The property is for sale at 1127 FERN Street in New Orleans, Louisiana 70118. The seller notes they will offer an Old Republic Home Warranty not to exceed $950, as described in the plan.
The upper unit is also configured as two bedrooms and one bath and is described as having refinished floors and updated light fixtures and fans. The kitchen is equipped with granite counter tops plus microwave, dishwasher, refrigerator, and range oven. Indoor laundry includes a washer and dryer, and the porch has been enclosed for additional living space. The upper unit is all electric, with prewiring noted for cable and telephone.
The property is for sale at 1127 FERN Street in New Orleans, Louisiana 70118. The seller notes they will offer an Old Republic Home Warranty not to exceed $950, as described in the plan.
Key Highlights
- Two separate 2‑bedroom, 1‑bath units (Unit A and Unit B), with off‑street driveway parking for one vehicle
- Unit A: renovated in 2013 with fresh paint, new light fixtures and fans, and wood floors; includes washer and dryer
- Unit A kitchen fully equipped with dishwasher, range oven, microwave, and refrigerator; prewired for telephone and cable
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 | $53.8k | $19.80 |
| − Vacancy | −$4.7k | −$1.71 |
| EGI | $49.2k | $18.09 |
| − OpEx | −$14.8k | −$5.43 |
| NOI | $34.4k | $12.66 |
2,719 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$491.8K
$430.4K – $573.8K
NOI $34,429 @ 7.0% cap · market cap 7.50%
Second Best
Apartment 5plus
$452.1K
$395.6K – $527.4K
NOI $31,646 @ 7.0% cap · market cap 6.89%
Theoretical Best
Office A
$691.1K
$604.7K – $806.3K
NOI $48,376 @ 7.0% cap · market cap 10.54%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Focus Technologies LLC
Industrial Manufacturer
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two 2-bedroom, 1-bath units with indoor laundry and off-street parking for one vehicle.
Where is this duplex located?
The property is located at 1127 FERN Street New Orleans, LA.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: Two separate 2‑bedroom, 1‑bath units (Unit A and Unit B), with off‑street driveway parking for one vehicle; Unit A: renovated in 2013 with fresh paint, new light fixtures and fans, and wood floors; includes washer and dryer; Unit A kitchen fully equipped with dishwasher, range oven, microwave, and refrigerator; prewired for telephone and cable
