Building Details

Year Built 1960

Listing Agency: REVE, REALTORS

Listed By: Anne Favret · License #995705535 Show Phone

Source: Fiorellaavenue

Added: Aug 6 Changed: Oct 2 Last Checked: Oct 7 at 1:04PM

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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 REVE, REALTORS

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Investment Insights

Based on property information with market context.

This tenant-occupied duplex contains two separate rental units within approximately 1,999 square feet. Built in 1960, the property offers a compact multifamily configuration with rental occupancy already established.

The property is located on Carrollton Avenue in Metairie, Louisiana, with stated access to Downtown New Orleans, employment centers, healthcare facilities, Louis Armstrong New Orleans International Airport, shopping, dining, and major transportation corridors. Its two-unit format provides separate rental spaces within one residential income property.

Key Highlights

• Two‑unit duplex configuration
• Current tenant occupancy in both rental units
• Approximately 1,999 square feet

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$21,377

Cap Rate

7.13%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$427,540 $427.5K

Cap Rate 7%

$305,386 $305.4K

Cap Rate 9%

$237,522 $237.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,999 SF

Gross rent

$32.4K $16.20/SF

− Vacancy

−$1.8K −$0.92/SF

EGI

$30.5K $15.28/SF

− OpEx

−$9.2K −$4.58/SF

NOI

$21.4K $10.69/SF

Area

Metairie, LA

Vacancy

5.70%

Lease Rate

$16.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$427,540

Cap Rate 7%

$305,386

Cap Rate 9%

$237,522

Alternative Uses

Best Use

Multifamily LT 5

$305.4K

$267.2K – $356.3K (±1% cap)

NOI $21,377 @ 7.0% cap · market cap 7.13%

Second Best

Apartment 5plus

$265.8K

$232.5K – $310.1K (±1% cap)

NOI $18,603 @ 7.0% cap · market cap 6.20%

Theoretical Best

Office A

$468.1K

$409.6K – $546.1K (±1% cap)

NOI $32,768 @ 7.0% cap · market cap 10.92%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Parking Lot & Garage Daycare Center Building Supply Big Box & Wholesale Store Barber Shop Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

1,170

Businesses Nearby

Explore this area Business Placement

Demographics for 70005, LA

25,431

Population

12,447

Households

2

Avg Household Size

45

Median Age

50%

College-Educated

94%

High-School Grad

4.2 sq mi

ZIP Area

6,055

Density / Sq Mi

$86,048

Median Household Income

$53,258

Median Earnings

$1,160

Median Rent

$381,000

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two separate rental units are currently occupied, with established tenancy in place.

Where is this duplex located?

The property is located at 1170 72 Carrollton Ave Metairie, LA.

What is the asking price?

The asking price for this property is $300,000.

What are key features of this property?

This property features: Two‑unit duplex configuration; Current tenant occupancy in both rental units; Approximately 1,999 square feet