Duplex with Additional
For Sale
$280,000
1203 05 Delery Street, New Orleans, LA 70117
Two distinct residences offer a screened porch, gated parking, and a separate one-bedroom apartment.
Property Size2,004 SF
Days on Market97
Property Features for 1203 05 Delery Street
General Information
Standard status
Active
Size
2,004 SF
Property subtype
Multi Family Home
Units
Unit Mix
1 x 2BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$10,800
Amenities
shared screen porch
gated lot
Building Details
Building Size
2,004 SF
Year Built
1920
Buildings
1
Stories
1
Listing Agency:
Witry Collective, L. L. C.
(504) 919-8585
Listed By:
Katie Witry · License #995710150
(504) 919-8585
Source:
Nolalivingrealty
Added: May 20
Changed: Aug 22
Last Checked: Aug 23 at 11:54AM
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 Witry Collective, L. L. C.
Investment Insights
Based on property information with market context.
Built in 1920, this duplex-style cottage includes three independent bedrooms arranged across two living areas. The primary residence has two bedrooms and two bathrooms, while a separate one-bedroom, one-bath apartment connects through a shared screened porch. Tall ceilings, wood floors, generous living rooms, and abundant natural light define the interior. The property also includes parking and a gated lot.
An adjoining 50-by-140-foot lot is included as a separate tax parcel, adding to the overall land component. The home occupies a corner lot in front of Jackson Barracks and sits one block from St. Claude Avenue, with access toward Orleans and St. Bernard Parishes. The property is located in Flood Zone X; flood insurance is recommended but not required.
An adjoining 50-by-140-foot lot is included as a separate tax parcel, adding to the overall land component. The home occupies a corner lot in front of Jackson Barracks and sits one block from St. Claude Avenue, with access toward Orleans and St. Bernard Parishes. The property is located in Flood Zone X; flood insurance is recommended but not required.
Key Highlights
- Duplex‑style cottage with 3 independent bedrooms
- Front residence includes 2 bedrooms and 2 baths
- Separate 1 bedroom/1 bath apartment
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
$25,376
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
9.06%
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%
$507,520
$507.5K
Cap Rate 7%
$362,514
$362.5K
Cap Rate 9%
$281,956
$282.0K
Market Conditions
NOI Build-Up for 2,004 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
$39.7K $19.80/SF
− Vacancy
−$3.4K −$1.71/SF
EGI
$36.3K $18.09/SF
− OpEx
−$10.9K −$5.43/SF
NOI
$25.4K $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%
$507,520
Cap Rate 7%
$362,514
Cap Rate 9%
$281,956
Alternative Uses
Best Use
Multifamily LT 5
$362.5K
$317.2K – $422.9K
NOI $25,376 @ 7.0% cap · market cap 9.06%
Second Best
Apartment 5plus
$333.2K
$291.6K – $388.7K
NOI $23,324 @ 7.0% cap · market cap 8.33%
Theoretical Best
Office A
$509.4K
$445.7K – $594.3K
NOI $35,655 @ 7.0% cap · market cap 12.73%
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
463
Businesses Nearby
Explore this area
Business Placement
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
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 distinct residences offer a screened porch, gated parking, and a separate one-bedroom apartment.
Where is this duplex located?
The property is located at 1203 05 Delery Street New Orleans, LA.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Duplex‑style cottage with 3 independent bedrooms; Front residence includes 2 bedrooms and 2 baths; Separate 1 bedroom/1 bath apartment
