Duplex in Historic Mixed-Use
114-16 South Hennessey Street New Orleans, LA 70119
For Sale
$674,900
Two-unit duplex with one side currently operating as a short-term rental and the other recently vacant.
Property Size3,584 SF
Price / SF$188.31
Days on Market149
Property Features for 114-16 South Hennessey Street
General Information
- Standard status
- Active
- Size
- 3,584 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1913
Listing Agency:
Talbot Realty Group
(504) 319-1452
Listed By:
Christopher Talbot · License #000075986
(504) 319-1452
Source:
Compass
Added: Feb 24
Changed: Jul 23
Last Checked: Jul 23 at 2:25PM
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 Talbot Realty Group
Investment Insights
Based on property information with market context.
114-116 S Hennessey Street is a duplex offering a flexible setup with two separate sides. The 116 side is currently operating as a short-term rental, while the 114 side has recently become vacant after a long-term tenant moved out. The property is zoned HU-MU (Historic Urban Mixed-Use) and is located in Flood Zone X. The home conveys with furnishings and appliances (tenant personal items excluded), supporting continued rental use. A new roof was installed in December 2023.
The property is described as being in Mid-City, one block off Canal Street, and just steps from the Canal Streetcar line, restaurants, and local amenities. Any buyer evaluating short-term rental use should verify eligibility.
With approximately 3,584 total square feet, the duplex can suit an owner-occupant model using one side while generating income from the other, or support rental/short-term rental operations across both units, subject to eligibility and lease terms.
The property is described as being in Mid-City, one block off Canal Street, and just steps from the Canal Streetcar line, restaurants, and local amenities. Any buyer evaluating short-term rental use should verify eligibility.
With approximately 3,584 total square feet, the duplex can suit an owner-occupant model using one side while generating income from the other, or support rental/short-term rental operations across both units, subject to eligibility and lease terms.
Key Highlights
- 2‑unit duplex at 114‑116 S Hennessey St, one block off Canal Street and steps from the Canal Streetcar line
- About 3,584 SF building: 6 bedrooms total and 4 full bathrooms
- 116 side currently operating as a short‑term rental; 114 side recently vacant after a long‑term tenant moved out
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 | $71.0k | $19.80 |
| − Vacancy | −$6.1k | −$1.71 |
| EGI | $64.8k | $18.09 |
| − OpEx | −$19.4k | −$5.43 |
| NOI | $45.4k | $12.66 |
3,584 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$648.3K
$567.3K – $756.4K
NOI $45,382 @ 7.0% cap · market cap 6.72%
Second Best
Apartment 5plus
$595.9K
$521.4K – $695.2K
NOI $41,714 @ 7.0% cap · market cap 6.18%
Theoretical Best
Office A
$937.8K
$820.6K – $1.09M
NOI $65,647 @ 7.0% cap · market cap 9.73%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two-unit duplex with one side currently operating as a short-term rental and the other recently vacant.
Where is this duplex located?
The property is located at 114-16 South Hennessey Street New Orleans, LA.
What is the asking price?
The asking price for this property is $674,900.
What are key features of this property?
This property features: 2‑unit duplex at 114‑116 S Hennessey St, one block off Canal Street and steps from the Canal Streetcar line; About 3,584 SF building: 6 bedrooms total and 4 full bathrooms; 116 side currently operating as a short‑term rental; 114 side recently vacant after a long‑term tenant moved out
