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    Historical Building with Modern Conveniences Title is generated by Realmo AI

    920 POEYFARRE Street 102, New Orleans, LA 70130

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    Claim this Listing
    For Sale
    $580,000

    Historical building with modern amenities, pool, gym, and rooftop.

    Type:Condo/Townhome
    Property size:
    1,795 SF
    Lot size:
    0.01 Acres
    Price / SF:
    $323/SF
    Added:
    Aug 31, 2024
    Days on Market:
    641
    Last Refresh:
    May 20 at 2:34 am

    Property Features for 920 POEYFARRE Street 102

    General Information

    Standard status
    Active
    Size
    1,795 SF
    Lot size
    0.01 Acres
    Property subtype
    Condo/Townhome

    Building Details

    Year Built
    1882

    We can help!

    Listing Contact
    David Reso

    Listing agent David Reso License #000014419

    Listing office Audubon Realty, LLC

    Listing date Aug 31, 2024

    Source Exitrealty

    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 Audubon Realty, LLC

    HighLights

    • Historical building with features from the 1800s.
    • Walking distance to restaurants and entertainment.
    • Enjoy the swimming pool and park‑like grounds.
    • Rooftop view.
    • On‑site gym and private library.
    • First‑floor unit with patio.

    Overview

    This historical building offers features dating back to the 1800s, combined with modern conveniences. Located on the first floor, the unit includes a patio accessible from the living area. The property boasts soaring ceilings, exposed beams, an open living area, a split floor plan, and private bathrooms. Residents can enjoy park-like grounds with a swimming pool area, a centrally located clubhouse for special events, an on-site gym, and a private library for business meetings. The rooftop offers views of the surrounding area. The property is located within walking distance of numerous restaurants and entertainment venues, offering an immersive New Orleans experience. The unit size is 1795 square feet.
    Location Intelligence

    Current Use by Public Records

    The Cotton Mill Condominium Complex Gulf South Real ... Home Inspector Global South Logistics Logistics Company Sol de Terrace Medical Clinic Schonlau Elisabeth W ... Physician

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Daycare Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.068611
    Latitude
    29.9415527

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    FAQs

    What type of property is this?
    Residential income property - Historical building with modern amenities, pool, gym, and rooftop.
    Where is this residential income property located?
    The property is located at 920 POEYFARRE Street 102 New Orleans, LA.
    What is the asking price?
    The asking price for this property is $580,000.
    What are key features of this property?
    This property features: Historical building with features from the 1800s.; Walking distance to restaurants and entertainment.; Enjoy the swimming pool and park‑like grounds.
    (504) 616-6208
    We can help!
    Listing Contact
    David Reso
    Real Estate License ID: 000014419
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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