New Construction
For Sale
$539,000
1140-42 Touro Street, New Orleans, LA 70116
Two open-concept units feature central air, contemporary materials, and dedicated gated parking.
Property Size2,851 SF
Price / SF$189.06
Days on Market201
Property Features for 1140-42 Touro Street
General Information
Standard status
Active
Size
2,851 SF
Total Parking Spaces
2
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
Multi Units, Central Air
2 or More Units, Central
1
4
6
In unit
Asphalt
Other
Balcony, Courtyard,
Pillar/Post/Pier
Frame, HardiPlank Type, Wood Siding
, Porch
Building Details
Year Built
2026
Listing Agency:
LATTER & BLUM INC/REALTORS
(504) 891-6400
Listed By:
Chris Smith · License #09641
(504) 891-6400
Source:
Compass
Added: Feb 12
Changed: Aug 31
Last Checked: Aug 31 at 1:11AM
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 LATTER & BLUM INC/REALTORS
Investment Insights
Based on property information with market context.
Completed in 2026, this 2,851-square-foot duplex provides two separate residences, each with three bedrooms and two full bathrooms. Open-concept layouts connect the living, dining, and kitchen areas, with central air, double-pane windows, modern insulation, and contemporary construction materials throughout. Each unit also includes a 5 Year Home Builder Warranty.
The corner-lot property is located at 1140-42 Touro Street, one block from Saint Claude Avenue, two blocks from Elysian Fields Avenue, and four blocks from the French Quarter. Gated off-street parking accommodates two vehicles. Additional exterior features include a balcony, courtyard, porch, and pillar/post/pier construction. The property is in an X Flood Zone and has never flooded.
The corner-lot property is located at 1140-42 Touro Street, one block from Saint Claude Avenue, two blocks from Elysian Fields Avenue, and four blocks from the French Quarter. Gated off-street parking accommodates two vehicles. Additional exterior features include a balcony, courtyard, porch, and pillar/post/pier construction. The property is in an X Flood Zone and has never flooded.
Key Highlights
- 2026 construction with 5 Year Home Builder Warranty
- 2,851‑square‑foot duplex with 3 bedrooms and 2 full baths in each unit
- Corner lot with gated off‑street parking for 2 vehicles
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
$36,101
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
6.70%
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%
$722,020
$722.0K
Cap Rate 7%
$515,729
$515.7K
Cap Rate 9%
$401,122
$401.1K
Market Conditions
NOI Build-Up for 2,851 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
$56.4K $19.80/SF
− Vacancy
−$4.9K −$1.71/SF
EGI
$51.6K $18.09/SF
− OpEx
−$15.5K −$5.43/SF
NOI
$36.1K $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%
$722,020
Cap Rate 7%
$515,729
Cap Rate 9%
$401,122
Alternative Uses
Best Use
Multifamily LT 5
$515.7K
$451.3K – $601.7K
NOI $36,101 @ 7.0% cap · market cap 6.70%
Second Best
Apartment 5plus
$474.0K
$414.8K – $553.0K
NOI $33,182 @ 7.0% cap · market cap 6.16%
Theoretical Best
Office A
$724.6K
$634.1K – $845.4K
NOI $50,724 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,255
Businesses Nearby
Explore this area
Business Placement
Demographics for 70116, LA
10,676
Population
9,620
Households
1.1
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
8,212
Density / Sq Mi
$45,580
Median Household Income
$34,849
Median Earnings
$1,190
Median Rent
$385,100
Median Home Value
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 open-concept units feature central air, contemporary materials, and dedicated gated parking.
Where is this duplex located?
The property is located at 1140-42 Touro Street New Orleans, LA.
What is the asking price?
The asking price for this property is $539,000.
What are key features of this property?
This property features: 2026 construction with 5 Year Home Builder Warranty; 2,851‑square‑foot duplex with 3 bedrooms and 2 full baths in each unit; Corner lot with gated off‑street parking for 2 vehicles
