Duplex with Screened
For Sale
$260,000
1205 Delery St, New Orleans, LA 70117
Two independent living areas include a two-bedroom, two-bath residence and a one-bedroom, one-bath apartment.
Property Size2,004 SF
Price / SF$129.74
Days on Market41
Property Features for 1205 Delery St
General Information
Standard status
Active
Size
2,004 SF
Property subtype
Multi-Family
Building Details
Year Built
1920
Listing Agency:
Witry Collective, L.L.C.
(504) 919-8585
Listed By:
Katie Witry · License #995710150
Source:
Fiorellaavenue
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 29 at 8:34PM
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 2,004-square-foot duplex, built in 1920, is arranged with a two-bedroom, two-bath front residence and a separate one-bedroom, one-bath apartment at the rear. Both areas connect through a shared screened porch. Interior details include tall ceilings, wood floors, generously sized living rooms, and abundant natural light, providing distinct residential spaces within the same structure.
The property occupies a corner lot measuring 50x140 in front of Jackson Barracks and one block from St. Claude Avenue. Its New Orleans location provides access toward both Orleans and St. Bernard Parishes. The home is in Flood Zone X; flood insurance is recommended but not required.
The property occupies a corner lot measuring 50x140 in front of Jackson Barracks and one block from St. Claude Avenue. Its New Orleans location provides access toward both Orleans and St. Bernard Parishes. The home is in Flood Zone X; flood insurance is recommended but not required.
Key Highlights
- 2,004‑square‑foot duplex built in 1920
- Front residence includes 2 bedrooms and 2 baths
- Rear apartment offers 1 bedroom and 1 bath
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
$23,324
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
8.97%
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%
$466,480
$466.5K
Cap Rate 7%
$333,200
$333.2K
Cap Rate 9%
$259,156
$259.2K
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
$46.7K $23.28/SF
− Vacancy
−$4.2K −$2.12/SF
EGI
$42.4K $21.16/SF
− OpEx
−$19.1K −$9.52/SF
NOI
$23.3K $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 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%
$466,480
Cap Rate 7%
$333,200
Cap Rate 9%
$259,156
Alternative Uses
Best Use
Multifamily LT 5
$362.5K
$317.2K – $422.9K
NOI $25,376 @ 7.0% cap · market cap 9.76%
Second Best
Apartment 5plus
$333.2K
$291.6K – $388.7K
NOI $23,324 @ 7.0% cap · market cap 8.97%
Theoretical Best
Office A
$509.4K
$445.7K – $594.3K
NOI $35,655 @ 7.0% cap · market cap 13.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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 independent living areas include a two-bedroom, two-bath residence and a one-bedroom, one-bath apartment.
Where is this duplex located?
The property is located at 1205 Delery St New Orleans, LA.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: 2,004‑square‑foot duplex built in 1920; Front residence includes 2 bedrooms and 2 baths; Rear apartment offers 1 bedroom and 1 bath
