Updated Duplex with
For Sale
$199,000
1133-35 Belleville St, New Orleans, LA 70114
Both units include refreshed kitchens, bathrooms, and windows alongside hardwood floors and high ceilings.
Property Size936 SF
Price / SF$212.61
Days on Market12
Property Features for 1133-35 Belleville St
General Information
Standard status
Active
Size
936 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
front porch
back porch
fenced backyard
hardwood floors
high ceilings
Building Details
Year Built
1939
Construction
shotgun double
Listing Agency:
Bennette Dukes Realty LLC
(504) 321-1014
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Sep 16
Changed: Sep 26
Last Checked: Sep 26 at 6:31AM
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 Bennette Dukes Realty LLC
Investment Insights
Based on property information with market context.
This duplex at 1133-35 Belleville St contains 936 SF and was built in 1939. The two sides are arranged in a similar configuration, with updated kitchens, bathrooms, and windows completed within the last few years. Hardwood flooring and high ceilings add period character throughout the property.
Outdoor features include front and rear porches, along with a fenced backyard divided for the two units. Located in Algiers, the property offers a duplex layout with improvements to key interior components and separate outdoor areas for each side.
Outdoor features include front and rear porches, along with a fenced backyard divided for the two units. Located in Algiers, the property offers a duplex layout with improvements to key interior components and separate outdoor areas for each side.
Key Highlights
- Duplex at 1133‑35 Belleville St in Algiers
- 936 SF property built in 1939
- Kitchens, bathrooms, and windows updated within the last few years
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
$11,852
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
5.96%
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%
$237,040
$237.0K
Cap Rate 7%
$169,314
$169.3K
Cap Rate 9%
$131,689
$131.7K
Market Conditions
NOI Build-Up for 936 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
$18.5K $19.80/SF
− Vacancy
−$1.6K −$1.71/SF
EGI
$16.9K $18.09/SF
− OpEx
−$5.1K −$5.43/SF
NOI
$11.9K $12.66/SF
Area
New Orleans, LA
Vacancy
8.64%
Lease Rate
$19.80 /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%
$237,040
Cap Rate 7%
$169,314
Cap Rate 9%
$131,689
Alternative Uses
Best Use
Multifamily LT 5
$169.3K
$148.2K – $197.5K
NOI $11,852 @ 7.0% cap · market cap 5.96%
Second Best
Apartment 5plus
$155.6K
$136.2K – $181.6K
NOI $10,894 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$237.9K
$208.2K – $277.6K
NOI $16,653 @ 7.0% cap · market cap 8.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
437
Businesses Nearby
Explore this area
Business Placement
Demographics for 70114, LA
23,127
Population
11,860
Households
2
Avg Household Size
38
Median Age
26%
College-Educated
86%
High-School Grad
5.1 sq mi
ZIP Area
4,535
Density / Sq Mi
$41,435
Median Household Income
$31,743
Median Earnings
$1,113
Median Rent
$194,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Both units include refreshed kitchens, bathrooms, and windows alongside hardwood floors and high ceilings.
Where is this duplex located?
The property is located at 1133-35 Belleville St New Orleans, LA.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Duplex at 1133‑35 Belleville St in Algiers; 936 SF property built in 1939; Kitchens, bathrooms, and windows updated within the last few years
