Duplex with Ensuite
New
For Sale
$325,000
1164 66 Tallow Tree Ln, Harvey, LA 70058
Two separate residences offer flexible occupancy, individual driveways, and convenient indoor laundry rooms.
Property Size2,226 SF
Price / SF$146
Days on Market6
Property Features for 1164 66 Tallow Tree Ln
General Information
Standard status
Active
Size
2,226 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/2BA
Multifamily Units
2
Amenities
indoor laundry
Building Details
Year Built
2021
Listing Agency:
The Pellerin Group NOLA LLC
(504) 628-7723
Listed By:
Nicole Pellerin · License #995704017
Source:
Fiorellaavenue
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 28 at 7:06AM
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 The Pellerin Group NOLA LLC
Investment Insights
Based on property information with market context.
Built in 2021, this duplex contains two independent residences totaling 2,226 square feet. One side provides three bedrooms and two bathrooms, while the other includes two bedrooms and two bathrooms. Each residence has a primary bedroom with a private ensuite bath and walk-in closet. Interior features include open living and dining areas, vinyl flooring, recessed lighting, and an indoor laundry room. Both units are all-electric, with wood siding and installed gutters.
The property is located near Manhattan Boulevard in Harvey, surrounded by new construction, restaurants, stores, and businesses. The Westbank Expressway provides access to the surrounding area. Separate driveways serve each residence, providing direct access to the respective front doors.
The property is located near Manhattan Boulevard in Harvey, surrounded by new construction, restaurants, stores, and businesses. The Westbank Expressway provides access to the surrounding area. Separate driveways serve each residence, providing direct access to the respective front doors.
Key Highlights
- Two‑unit duplex built in 2021 with 2,226 SF
- Unit mix includes 3 bedrooms/2 bathrooms and 2 bedrooms/2 bathrooms
- Each residence has a primary ensuite bath and walk‑in closet
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
$24,428
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
7.52%
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%
$488,560
$488.6K
Cap Rate 7%
$348,971
$349.0K
Cap Rate 9%
$271,422
$271.4K
Market Conditions
NOI Build-Up for 2,226 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
$38.2K $17.16/SF
− Vacancy
−$3.3K −$1.48/SF
EGI
$34.9K $15.68/SF
− OpEx
−$10.5K −$4.70/SF
NOI
$24.4K $10.97/SF
Area
Jefferson County, LA
Vacancy
8.64%
Lease Rate
$17.16 /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%
$488,560
Cap Rate 7%
$348,971
Cap Rate 9%
$271,422
Alternative Uses
Best Use
Multifamily LT 5
$349.0K
$305.4K – $407.1K
NOI $24,428 @ 7.0% cap · market cap 7.52%
Second Best
Apartment 5plus
$326.2K
$285.5K – $380.6K
NOI $22,836 @ 7.0% cap · market cap 7.03%
Theoretical Best
Office A
$587.3K
$513.9K – $685.2K
NOI $41,110 @ 7.0% cap · market cap 12.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,441
Businesses Nearby
Explore this area
Business Placement
Demographics for 70058, LA
41,377
Population
16,063
Households
2.6
Avg Household Size
37
Median Age
20%
College-Educated
85%
High-School Grad
12.8 sq mi
ZIP Area
3,233
Density / Sq Mi
$58,533
Median Household Income
$34,680
Median Earnings
$1,217
Median Rent
$195,100
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 separate residences offer flexible occupancy, individual driveways, and convenient indoor laundry rooms.
Where is this duplex located?
The property is located at 1164 66 Tallow Tree Ln Harvey, LA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two‑unit duplex built in 2021 with 2,226 SF; Unit mix includes 3 bedrooms/2 bathrooms and 2 bedrooms/2 bathrooms; Each residence has a primary ensuite bath and walk‑in closet
