Historic Duplex with
For Sale
$299,000
1240 N Villere St, New Orleans, LA 70116
Side-hall camelback duplex with shared courtyard, hardwood floors, and stainless steel kitchen appliances.
Property Size1,743 SF
Price / SF$171.54
Days on Market17
Property Features for 1240 N Villere St
General Information
Standard status
Active
Size
1,743 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Amenities
courtyard
balcony
Building Details
Year Built
1863
Construction
camelback
Listing Agency:
REVE, REALTORS
(504) 909-0824
Listed By:
Lane Washburn · License #0995697093
Source:
Dominionplace
Added: Aug 16
Changed: Aug 30
Last Checked: Aug 31 at 7:17PM
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.
Built in 1863, this 1,743-square-foot side-hall camelback duplex is arranged as two separate units with a combined total of 3 bedrooms and 3 bathrooms. The front residence offers 2 bedrooms and 2 bathrooms, while the rear unit includes 1 bedroom and 1 bathroom. Both units connect to a shared courtyard, and the property also includes a balcony, hardwood flooring, high ceilings, and an open kitchen with stainless steel appliances. A newer roof is already in place.
The property is in Historic Treme near Esplanade Avenue, with the French Quarter and Bayou St. John only minutes away. Its existing two-unit layout, adaptable guest suite, and central New Orleans setting provide a range of residential income and owner-occupant configurations.
The property is in Historic Treme near Esplanade Avenue, with the French Quarter and Bayou St. John only minutes away. Its existing two-unit layout, adaptable guest suite, and central New Orleans setting provide a range of residential income and owner-occupant configurations.
Key Highlights
- 1,743 SF duplex built in 1863
- Two‑unit layout with 3 bedrooms and 3 bathrooms total
- Front unit includes 2 bedrooms and 2 bathrooms
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
$22,071
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
7.38%
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%
$441,420
$441.4K
Cap Rate 7%
$315,300
$315.3K
Cap Rate 9%
$245,233
$245.2K
Market Conditions
NOI Build-Up for 1,743 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
$34.5K $19.80/SF
− Vacancy
−$3.0K −$1.71/SF
EGI
$31.5K $18.09/SF
− OpEx
−$9.5K −$5.43/SF
NOI
$22.1K $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 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%
$441,420
Cap Rate 7%
$315,300
Cap Rate 9%
$245,233
Alternative Uses
Best Use
Multifamily LT 5
$315.3K
$275.9K – $367.9K
NOI $22,071 @ 7.0% cap · market cap 7.38%
Second Best
Apartment 5plus
$289.8K
$253.6K – $338.1K
NOI $20,286 @ 7.0% cap · market cap 6.78%
Theoretical Best
Office A
$443.0K
$387.6K – $516.9K
NOI $31,011 @ 7.0% cap · market cap 10.37%
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
2,095
Businesses Nearby
Explore this area
Business Placement
Demographics for 70116, LA
10,676
Population
9,620
Households
1.1
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
8,212
Density / Sq Mi
$45,580
Median Household Income
$34,849
Median Earnings
$1,190
Median Rent
$385,100
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 - Side-hall camelback duplex with shared courtyard, hardwood floors, and stainless steel kitchen appliances.
Where is this duplex located?
The property is located at 1240 N Villere St New Orleans, LA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 1,743 SF duplex built in 1863; Two‑unit layout with 3 bedrooms and 3 bathrooms total; Front unit includes 2 bedrooms and 2 bathrooms
