Tenant-Occupied Duplex with
For Sale
$300,000
Pending
1236 CARROLLTON Avenue, Metairie, LA 70005
Multi-Family, Traditional, Metairie, LA
Property Size2,438 SF
Days on Market65
Property Features for 1236 CARROLLTON Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Driveway, Off Street
Patio and Porch features
Porch
Exterior features
Porch
Subdivision
Metairieville
Lot features
Regular
Standard status
Pending
APN
0820001415
Size
2,438 SF
Taxes and HOA fees
Tax Description
Lot D Sq 90 Metairieville
Legal Description
Lot D Sq 90 Metairieville
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1960
Floors in Building
1
Number of units
2
Architectural style
Other
Listing Agency:
REVE, REALTORS
(504) 300-0700
Listed By:
Anne Favret · License #995705535
(504) 390-2335
Added: Jun 19
Changed: Aug 19
Last Checked: Aug 22 at 7:06PM
MLS# 2563854
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Tenant-occupied duplex offering two separate units under one property, designed to provide immediate rental income with established occupancy in place. The home features a porch and central heating and central air conditioning, with off-street parking and driveway access.
Built in 1960 and supplied with public water, the property is positioned in an established area of Metairie with convenient access to Downtown New Orleans, major employment hubs, healthcare facilities, and Louis Armstrong New Orleans International Airport. It is also described as being close to shopping, dining, and major transportation corridors, supporting broad tenant demand.
Property size is listed at 2,438 SF; measurements are not guaranteed.
Built in 1960 and supplied with public water, the property is positioned in an established area of Metairie with convenient access to Downtown New Orleans, major employment hubs, healthcare facilities, and Louis Armstrong New Orleans International Airport. It is also described as being close to shopping, dining, and major transportation corridors, supporting broad tenant demand.
Property size is listed at 2,438 SF; measurements are not guaranteed.
Key Highlights
- Tenant‑occupied duplex with two separate units and established rental occupancy
- Porch plus central heating and central air conditioning
- Off‑street parking with driveway access
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
8.69%
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 8.69%
Second Best
Apartment 5plus
$324.1K
$283.6K – $378.1K
NOI $22,688 @ 7.0% cap · market cap 7.56%
Theoretical Best
Office A
$570.9K
$499.6K – $666.1K
NOI $39,964 @ 7.0% cap · market cap 13.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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 - Tenant-occupied duplex with central HVAC, a porch, and off-street driveway parking in Metairie, LA.
Where is this duplex located?
The property is located at 1236 CARROLLTON Avenue Metairie, LA.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Tenant‑occupied duplex with two separate units and established rental occupancy; Porch plus central heating and central air conditioning; Off‑street parking with driveway access
