Renovated Duplex
1213-15 Alvar Street New Orleans, LA 70117
1213-15 Alvar Street, New Orleans, LA, 70117
$360,000
For Sale
$360,000
All-brick, renovated duplex completed in 2025 with separate electric meters and shared water service.
Property Size1,728 SF
Price / SF$208.33
Days on Market167
Property Features for 1213-15 Alvar Street
General Information
- Standard status
- Active
- Size
- 1,728 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1956
Listing agency
Snap Realty
(504) 920-5711
Listed by
Kathy Wilson · License #995692493
(504) 920-5711
Source
Compass
Added: Feb 6 Updated: Jul 22 at 9:51AM Checked: Jul 22 at 9:51AM
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 Snap Realty
Investment Insights
Based on property information with market context.
This renovated, all-brick two-story duplex was completed in 2025 and is configured with two separate units. The property has brand new plumbing and electrical systems and includes a modern HVAC split system. The upstairs unit is described as owner-occupied, while the downstairs unit is designated for rental income. Utilities are split with separate electric meters and a shared water meter.
The property is listed as being in an X Flood zone and is described as convenient to transportation and easy Interstate access, with proximity to local restaurants, music venues, and the French Quarter.
With its full renovation and two-unit setup supported by separate electric service, the property is positioned for an owner-occupant/live-and-rent scenario while maintaining an income-generating downstairs unit.
The property is listed as being in an X Flood zone and is described as convenient to transportation and easy Interstate access, with proximity to local restaurants, music venues, and the French Quarter.
With its full renovation and two-unit setup supported by separate electric service, the property is positioned for an owner-occupant/live-and-rent scenario while maintaining an income-generating downstairs unit.
Key Highlights
- All‑brick 2‑story duplex completed in 2025 with 4 bedrooms and 2 full bathrooms
- Upstairs unit is owner‑occupied; downstairs unit rents for $1,300 per month
- Brand new plumbing and electrical systems plus a modern HVAC split system
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $34.2k | $19.80 |
| − Vacancy | −$3.0k | −$1.71 |
| EGI | $31.3k | $18.09 |
| − OpEx | −$9.4k | −$5.43 |
| NOI | $21.9k | $12.66 |
1,728 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$312.6K
$273.5K – $364.7K
NOI $21,881 @ 7.0% cap · market cap 6.08%
Second Best
Apartment 5plus
$287.3K
$251.4K – $335.2K
NOI $20,112 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$439.2K
$384.3K – $512.4K
NOI $30,744 @ 7.0% cap · market cap 8.54%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - All-brick, renovated duplex completed in 2025 with separate electric meters and shared water service.
Where is this duplex located?
The property is located at 1213-15 Alvar Street New Orleans, LA.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: All‑brick 2‑story duplex completed in 2025 with 4 bedrooms and 2 full bathrooms; Upstairs unit is owner‑occupied; downstairs unit rents for $1,300 per month; Brand new plumbing and electrical systems plus a modern HVAC split system
