Historic Creole Cottage
For Sale
$249,000
Pending
1201 ST PHILIP, New Orleans, LA 70116
Multifamily, New Orleans, LA
Property Size1,964 SF
Days on Market74
Property Features for 1201 ST PHILIP
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 2, Bedroom 1, Bathroom 3
Directions
2 blocks uptown side of N Rampart St, 4 blocks riverside of Esplanade Ave
Standard status
Pending
APN
1201-STPHILIPSTB
Size
1,964 SF
Taxes and HOA fees
Tax Description
SQ 139 LOT 1 ST PHILIP AND ST CLAUDE 31X75
Legal Description
SQ 139 LOT 1 ST PHILIP AND ST CLAUDE 31X75
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Window Unit(s), Central Air
Water source
Public
Building Details
Year built
1880
Number of units
2
Building materials
Brick, Concrete, Wood Siding
Architectural style
Other
Listing Agency:
Keller Williams Realty NO
(504) 862-0100
Listed By:
Chris M Smith · License #000009641
(504) 231-2004
Added: Aug 12
Changed: Oct 23
Last Checked: Oct 24 at 2:06AM
MLS# 2571978
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.
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Investment Insights
Based on property information with market context.
This 1,964-square-foot duplex contains two residential units: one with 2 bedrooms and 2 bathrooms, and another with 2 bedrooms and 1 bathroom. The property is being sold as-is, with no repairs by the seller, and is described as a restoration project. Construction materials include brick, concrete, and wood siding. Heating is central; cooling includes central air and window units.
At 1201 St. Philip Street in New Orleans, the property stands across from Louis Armstrong Park and Congo Square, and two blocks from the French Quarter. Public water and sewer serve the property, and natural gas is available. The two-unit configuration and distinct bedroom and bathroom layouts are the principal residential features.
At 1201 St. Philip Street in New Orleans, the property stands across from Louis Armstrong Park and Congo Square, and two blocks from the French Quarter. Public water and sewer serve the property, and natural gas is available. The two-unit configuration and distinct bedroom and bathroom layouts are the principal residential features.
Key Highlights
- Two residential units, each with 2 bedrooms
- Unit layouts include 2 bathrooms and 1 bathroom, respectively
- 1,964 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,859
Cap Rate
9.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$457,180
$457.2K
Cap Rate 7%
$326,557
$326.6K
Cap Rate 9%
$253,989
$254.0K
Market Conditions
NOI Build-Up for 1,964 SF
Gross rent
$45.7K $23.28/SF
− Vacancy
−$4.2K −$2.12/SF
EGI
$41.6K $21.16/SF
− OpEx
−$18.7K −$9.52/SF
NOI
$22.9K $11.64/SF
Area
New Orleans, LA
Vacancy
9.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$457,180
Cap Rate 7%
$326,557
Cap Rate 9%
$253,989
Alternative Uses
Best Use
Multifamily LT 5
$355.3K
$310.9K – $414.5K
NOI $24,869 @ 7.0% cap · market cap 9.99%
Second Best
Apartment 5plus
$326.6K
$285.7K – $381.0K
NOI $22,859 @ 7.0% cap · market cap 9.18%
Theoretical Best
Office A
$499.2K
$436.8K – $582.4K
NOI $34,943 @ 7.0% cap · market cap 14.03%
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
4,536
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 residences offer separate 2-bedroom layouts with different bathroom counts.
Where is this duplex located?
The property is located at 1201 ST PHILIP New Orleans, LA.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Two residential units, each with 2 bedrooms; Unit layouts include 2 bathrooms and 1 bathroom, respectively; 1,964 square feet
