Duplex with Additional
New
For Sale
$280,000
1203 05 Delery St, New Orleans, LA 70117
Two distinct living areas share a screened porch and provide gated parking on a corner lot.
Property Size2,004 SF
Price / SF$139.72
Days on Market5
Property Features for 1203 05 Delery St
General Information
Standard status
Active
Size
2,004 SF
Property subtype
Multi-Family
Site & Location
Road Access
Yes
Fenced Yard
Yes
Additional Details
Land Use
residential
Amenities
screen porch
gated lot
Building Details
Year Built
1920
Buildings
1
Listing Agency:
Witry Collective, L.L.C.
(504) 919-8585
Listed By:
Katie Witry · License #995710150
Source:
Dominionplace
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 30 at 7:38PM
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.
This 1920 duplex contains 2,004 square feet with three independent bedrooms arranged as a two-bedroom, two-bath residence and a separate one-bedroom, one-bath apartment. A shared screened porch connects the living areas. Interior features include tall ceilings, wood floors, generously sized living rooms, and abundant natural light. The property also includes parking and a gated lot.
An adjoining 50-by-140-foot lot is included as a separate tax parcel. The duplex occupies a corner position at 1203–05 Delery St in New Orleans, across from Jackson Barracks and one block from St. Claude Avenue. The location provides access toward Orleans and St. Bernard Parishes. The property is 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. The duplex occupies a corner position at 1203–05 Delery St in New Orleans, across from Jackson Barracks and one block from St. Claude Avenue. The location provides access toward Orleans and St. Bernard Parishes. The property is in Flood Zone X; flood insurance is recommended but not required.
Key Highlights
- Duplex with 2,004 square feet and three independent bedrooms
- Two‑bedroom, two‑bath main residence plus a 1‑bedroom, 1‑bath apartment
- Additional 50x140 lot included as a separate tax parcel
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
Yes
Fenced yard
Yes
Paved road access
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 living areas share a screened porch and provide gated parking on a corner lot.
Where is this duplex located?
The property is located at 1203 05 Delery St 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 with 2,004 square feet and three independent bedrooms; Two‑bedroom, two‑bath main residence plus a 1‑bedroom, 1‑bath apartment; Additional 50x140 lot included as a separate tax parcel
