Renovated Brick
1213 Alvar Street, New Orleans, LA 70117
For Sale
$319,000
Both residences have in-unit laundry, while separate electric meters serve the two-unit property.
Property Size1,728 SF
Price / SF$184.61
Days on Market30
Property Features for 1213 Alvar Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Highway Access
Public Transit
Utilities to Site
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Amenities
off-street parking
open floor plan
energy-efficient convection oven
stackable washer and dryer
in-unit washer and dryer
split-system HVAC
Building Details
Building Size
Year Built
Year Renovated
Units
Construction
Listing Agency:
Snap Realty
(504) 301-3826
Listed By:
Kathryn A Wilson
(504) 920-5711
Source:
Cypresskeyrealty
Added: Oct 13
Changed: Nov 7
Last Checked: Nov 10 at 2:37PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,728-square-foot brick duplex was renovated in 2025 and contains two apartments, each with two bedrooms and one bathroom. The upper residence has an open layout, convection oven, and stackable washer and dryer; the lower unit has a semi-open layout and its own washer and dryer. Off-street parking is available, and the property is designated Flood Zone X.
Plumbing, electrical systems, and split-system HVAC have been updated. Each unit has a separate electric meter, while water service remains on a shared meter, with the option to separate it. A termite contract is in place. The property is near dining, music venues, public transit, the French Quarter, and Interstate access.
Plumbing, electrical systems, and split-system HVAC have been updated. Each unit has a separate electric meter, while water service remains on a shared meter, with the option to separate it. A termite contract is in place. The property is near dining, music venues, public transit, the French Quarter, and Interstate access.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 bathroom
- 1,728 square feet; renovated in 2025
- Off‑street parking and brick construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,881
Cap Rate
6.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$437,620
$437.6K
Cap Rate 7%
$312,586
$312.6K
Cap Rate 9%
$243,122
$243.1K
Market Conditions
NOI Build-Up for 1,728 SF
Gross rent
$34.2K $19.80/SF
− Vacancy
−$3.0K −$1.71/SF
EGI
$31.3K $18.09/SF
− OpEx
−$9.4K −$5.43/SF
NOI
$21.9K $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 Rate 5%
$437,620
Cap Rate 7%
$312,586
Cap Rate 9%
$243,122
Alternative Uses
Best Use
Multifamily LT 5
$312.6K
$273.5K – $364.7K
NOI $21,881 @ 7.0% cap · market cap 6.86%
Second Best
Apartment 5plus
$287.3K
$251.4K – $335.2K
NOI $20,112 @ 7.0% cap · market cap 6.30%
Theoretical Best
Office A
$439.2K
$384.3K – $512.4K
NOI $30,744 @ 7.0% cap · market cap 9.64%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
879
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
$247,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Duplexes in New Orleans, LA
Properties on Market for Duplexes in New Orleans
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have in-unit laundry, while separate electric meters serve the two-unit property.
Where is this duplex located?
The property is located at 1213 Alvar Street New Orleans, LA.
What is the asking price?
The asking price for this property is $319,000.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 1 bathroom; 1,728 square feet; renovated in 2025; Off‑street parking and brick construction
