New Construction
For Sale
$519,000
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$182.04
Days on Market217
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
Central Air
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:
Keller Williams Realty New Orleans
Listed By:
Chris Smith · License #000009641
(504) 231-2004
Source:
Compass
Added: Mar 17
Changed: Oct 13
Last Checked: Oct 19 at 8:53AM
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 Keller Williams Realty New Orleans
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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 / Yr
$36,101
Cap Rate
6.96%
Suggested Prices Based on Cap Rates
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
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 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 6.96%
Second Best
Apartment 5plus
$474.0K
$414.8K – $553.0K
NOI $33,182 @ 7.0% cap · market cap 6.39%
Theoretical Best
Office A
$724.6K
$634.1K – $845.4K
NOI $50,724 @ 7.0% cap · market cap 9.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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
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 $519,000.
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
