Duplex with Gated
For Sale
$499,000
1140 TOURO Street, New Orleans, LA 70116
Multifamily, New Orleans, LA
Property Size2,851 SF
Price / SF$175.03
Days on Market30
Property Features for 1140 TOURO Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 5, Bedroom 3, Bathroom 2, Bedroom 1, Bathroom 3, Bedroom 6, Bathroom 1, Bedroom 2, Bedroom 4
Parking
2
Parking features
Driveway
Patio and Porch features
Porch
Lot features
Corner Lot
Directions
1 block lakeside of St Claude, 2 blocks Uptown side of Elysian Fields
Standard status
Active
APN
1142-TOUROST
Size
2,851 SF
Taxes and HOA fees
Tax Description
SQ 387 LOTS 1 OR 13 TOURO AND MARAIS 29 X 100
Legal Description
SQ 387 LOTS 1 OR 13 TOURO AND MARAIS 29 X 100
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2026
Number of units
2
Building materials
Frame, HardiPlank Type, Wood Siding
Architectural style
Other
Buildings
1
Listing Agency:
Keller Williams Realty NO
(504) 862-0100
Listed By:
Chris M Smith · License #000009641
(504) 231-2004
Added: Sep 24
Changed: Oct 23
Last Checked: Oct 23 at 7:06PM
MLS# 2578654
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Under construction, this duplex is planned with two residences, each containing three bedrooms and two full bathrooms. The open layouts connect the living, dining, and kitchen areas, with double-pane windows and modern insulation among the specified features. The property totals 2,851 square feet and includes a porch and gated off-street parking for two vehicles. Construction materials include frame, HardiPlank Type, and wood siding; central heating and air conditioning are specified. A five-year home builder warranty is also noted.
The corner property is one block from Saint Claude Avenue, two blocks from Elysian Fields Avenue, and four blocks from the French Quarter. It is identified as being in an X Flood Zone, and the property information states that it has never flooded. Public water and sewer are available, along with natural gas service.
The corner property is one block from Saint Claude Avenue, two blocks from Elysian Fields Avenue, and four blocks from the French Quarter. It is identified as being in an X Flood Zone, and the property information states that it has never flooded. Public water and sewer are available, along with natural gas service.
Key Highlights
- Two residences, each with 3 bedrooms and 2 full bathrooms
- 2,851 square feet; under construction with year built listed as 2026
- Gated off‑street parking for 2 vehicles on a corner lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,101
Cap Rate
7.23%
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 7.23%
Second Best
Apartment 5plus
$474.0K
$414.8K – $553.0K
NOI $33,182 @ 7.0% cap · market cap 6.65%
Theoretical Best
Office A
$724.6K
$634.1K – $845.4K
NOI $50,724 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer open living areas, contemporary construction, and dedicated parking on a corner parcel.
Where is this duplex located?
The property is located at 1140 TOURO Street New Orleans, LA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms and 2 full bathrooms; 2,851 square feet; under construction with year built listed as 2026; Gated off‑street parking for 2 vehicles on a corner lot
