New Construction Duplex with
For Sale
$595,000
1140 42 TOURO Street New, New Orleans, LA 70116
Corner-lot property with two residences, open-plan interiors, and gated off-street parking.
Property Size2,851 SF
Days on Market142
Property Features for 1140 42 TOURO Street New
General Information
Standard status
Active
Size
2,851 SF
Total Parking Spaces
2
Property subtype
Duplex
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
Central
Multiple Heating Units
Central Air
2 Units
Deck, Patio, Porch, Shingle
Building Details
Building Size
2,851 SF
Year Built
2026
Buildings
1
Listing Agency:
LATTER & BLUM INC/REALTORS
(504) 231-2004
Listed By:
Chris Smith · License #09641
(504) 231-2004
Source:
Kw
Added: Apr 13
Changed: Aug 31
Last Checked: Aug 31 at 1:39AM
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 duplex places two thoughtfully arranged residences on a corner lot. Each unit includes three separate bedrooms and two full bathrooms, along with an open layout connecting the living, dining, and kitchen areas. Double-pane windows, modern insulation, contemporary materials, central air, and multiple heating units support the newer construction. Deck, patio, and porch areas add exterior space, while gated off-street parking accommodates two vehicles.
The property is located in Faubourg Marigny, one block from Saint Claude Avenue, two blocks from Elysian Fields Avenue, and four blocks from the French Quarter. Nearby destinations include The Ruby Slipper Cafe, Hotel Peter & Paul, Who Dat Coffee Cafe, AYU Bakehouse, and Robert Fresh Market. The property is in an X Flood Zone and has never flooded.
The property is located in Faubourg Marigny, one block from Saint Claude Avenue, two blocks from Elysian Fields Avenue, and four blocks from the French Quarter. Nearby destinations include The Ruby Slipper Cafe, Hotel Peter & Paul, Who Dat Coffee Cafe, AYU Bakehouse, and Robert Fresh Market. The property is in an X Flood Zone and has never flooded.
Key Highlights
- Two‑unit duplex completed in 2026
- Each unit has 3 bedrooms and 2 full bathrooms
- 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
6.07%
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 6.07%
Second Best
Apartment 5plus
$474.0K
$414.8K – $553.0K
NOI $33,182 @ 7.0% cap · market cap 5.58%
Theoretical Best
Office A
$724.6K
$634.1K – $845.4K
NOI $50,724 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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 - Corner-lot property with two residences, open-plan interiors, and gated off-street parking.
Where is this duplex located?
The property is located at 1140 42 TOURO Street New New Orleans, LA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Two‑unit duplex completed in 2026; Each unit has 3 bedrooms and 2 full bathrooms; Corner lot with gated off‑street parking for 2 vehicles
