Tenant-Occupied
For Sale
$335,000
1236-38 Carrollton Avenue, Metairie, LA 70005
Two-unit residential property with brick exterior, porch, and central air.
Property Size2,438 SF
Price / SF$137.41
Days on Market79
Property Features for 1236-38 Carrollton Avenue
General Information
Standard status
Active
Size
2,438 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Additional Details
Multifamily Units
2
Amenities
Central Air
Central
1
3
5
Yes Indoor
Other
Slab: Traditional
Brick
Porch
Building Details
Year Built
1960
Listing Agency:
REVE, REALTORS
(504) 390-2335
Listed By:
Anne Favret · License #995705535
(504) 390-2335
Source:
Compass
Added: Jun 15
Changed: Aug 30
Last Checked: Aug 31 at 9:52PM
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 REVE, REALTORS
Investment Insights
Based on property information with market context.
This tenant-occupied duplex contains two separate residential units within approximately 2,438 square feet. The property was built in 1960 and includes central air, a brick exterior, and a porch. Traditional slab construction is also noted.
The existing occupancy provides an established residential operating profile for a buyer seeking a small multifamily property. Separate units create a two-unit configuration rather than a single residence, while the manageable scale supports straightforward ownership and oversight.
The existing occupancy provides an established residential operating profile for a buyer seeking a small multifamily property. Separate units create a two-unit configuration rather than a single residence, while the manageable scale supports straightforward ownership and oversight.
Key Highlights
- Tenant‑occupied duplex with two separate units
- 2,438 square feet of total property size
- Built in 1960
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
$26,071
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
7.78%
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%
$521,420
$521.4K
Cap Rate 7%
$372,443
$372.4K
Cap Rate 9%
$289,678
$289.7K
Market Conditions
NOI Build-Up for 2,438 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
$39.5K $16.20/SF
− Vacancy
−$2.3K −$0.92/SF
EGI
$37.2K $15.28/SF
− OpEx
−$11.2K −$4.58/SF
NOI
$26.1K $10.69/SF
Area
Metairie, LA
Vacancy
5.70%
Lease Rate
$16.20 /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%
$521,420
Cap Rate 7%
$372,443
Cap Rate 9%
$289,678
Alternative Uses
Best Use
Multifamily LT 5
$372.4K
$325.9K – $434.5K
NOI $26,071 @ 7.0% cap · market cap 7.78%
Second Best
Apartment 5plus
$324.1K
$283.6K – $378.1K
NOI $22,688 @ 7.0% cap · market cap 6.77%
Theoretical Best
Office A
$570.9K
$499.6K – $666.1K
NOI $39,964 @ 7.0% cap · market cap 11.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
871
Businesses Nearby
Explore this area
Business Placement
Demographics for 70005, LA
25,431
Population
12,447
Households
2
Avg Household Size
45
Median Age
50%
College-Educated
94%
High-School Grad
4.2 sq mi
ZIP Area
6,055
Density / Sq Mi
$86,048
Median Household Income
$53,258
Median Earnings
$1,160
Median Rent
$381,000
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-unit residential property with brick exterior, porch, and central air.
Where is this duplex located?
The property is located at 1236-38 Carrollton Avenue Metairie, LA.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: Tenant‑occupied duplex with two separate units; 2,438 square feet of total property size; Built in 1960
