Updated Duplex with
New
For Sale
$199,000
1133-35 BELLEVILLE Street, New Orleans, LA 70114
Multi-Family, Shot Gun, New Orleans, LA
Property Size936 SF
Price / SF$212.61
Days on Market2
Property Features for 1133-35 BELLEVILLE Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Patio and Porch features
Porch
Exterior features
Fence, Porch
Fencing
Fenced
Lot features
Oversized
Subdivision
Algiers
Standard status
Active
APN
1133-BELLEVILLEST
Size
936 SF
Taxes and HOA fees
Tax Description
1. SQ 190 2. LOT 13 3. 32 X 120
Legal Description
1. SQ 190 2. LOT 13 3. 32 X 120
Utilities
Cooling system
Window Unit(s)
Water source
Public
Amenities
front porch
back porch
divided fenced backyard
hardwood floors
high ceilings
Building Details
Year built
1939
Floors in Building
1
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
REVE, REALTORS
(504) 300-0700
Listed By:
Zachary Russell · License #995702384
(504) 493-9770
Added: Sep 15
Last Checked: Sep 16 at 8:06PM
MLS# 2577267
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 1939 duplex in Algiers contains 936 square feet and is arranged as two nearly matching sides. Kitchens, bathrooms, and windows were updated within the last few years, while hardwood flooring and high ceilings retain the building’s original character. Each side is served by a window unit, and the property has a shingle roof with public water service.
Front and rear porches extend the usable outdoor areas, while the backyard is divided and enclosed with fencing. The two residences share a similar layout and appearance, with listing photography showing one side of the duplex.
Front and rear porches extend the usable outdoor areas, while the backyard is divided and enclosed with fencing. The two residences share a similar layout and appearance, with listing photography showing one side of the duplex.
Key Highlights
- 936 square feet in a two‑residence duplex
- Kitchens, bathrooms, and windows updated within the last few years
- Hardwood floors and high ceilings
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 comparable residences feature refreshed interiors, outdoor porches, and a separated fenced yard.
Where is this duplex located?
The property is located at 1133-35 BELLEVILLE Street 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: 936 square feet in a two‑residence duplex; Kitchens, bathrooms, and windows updated within the last few years; Hardwood floors and high ceilings
