Side-Hall Camelback
For Sale
$320,000
1240 N VILLERE Street, New Orleans, LA 70116
MULTI_FAMILY - New Orleans, LA
Property Size1,743 SF
Price / SF$183.59
Days on Market109
Property Features for 1240 N VILLERE Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Exterior features
Balcony, Fence
Fencing
Fenced
Lot features
Regular
Subdivision
Treme
Standard status
Active
APN
208104118
Size
1,743 SF
Taxes and HOA fees
Tax Description
SQS 172 173 LOT K N VILLERE 25X95
Legal Description
SQS 172 173 LOT K N VILLERE 25X95
Utilities
Cooling system
Central Air, Window Unit(s)
Water source
Public
Building Details
Year built
1863
Floors in Building
2
Number of units
2
Roof type
Shingle, Asphalt
Architectural style
Other
Listing Agency:
REVE, REALTORS
(504) 300-0700
Listed By:
Lane Washburn · License #0995697093
(504) 300-0700
Added: Apr 14
Changed: Jul 30
Last Checked: Jul 31 at 12:06AM
MLS# 2552386
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.
This side-hall camelback duplex is currently configured as two units, with the flexibility to be converted back to a single-family home. The layout totals three bedrooms and three bathrooms, with a front unit offering two bedrooms and two baths and a rear unit offering one bedroom and one bath. Both units share courtyard access, providing an outdoor space for daily use and entertaining. Interior highlights include hardwood floors and soaring ceilings. The home also features an open kitchen with stainless steel appliances, and there is a balcony for additional indoor-outdoor living. A newer roof is already in place.
The property is located in Historic Treme, just off iconic Esplanade Avenue, at 1240 N Villere Street in New Orleans, LA 70116. It is positioned minutes from the French Quarter and Bayou St. John, placing the home within reach of area dining, music, and culture.
For buyers and tenants, the current duplex configuration supports a range of uses, including owner-occupancy with rental income or a two-unit setup for guests, home office use, or long-term tenancy. With the option to rework the plan into a single-family residence, the property can also appeal to renovators and homeowners looking to tailor a historic-style home to their needs. Schedule a private tour to review the layout and finishes firsthand.
The property is located in Historic Treme, just off iconic Esplanade Avenue, at 1240 N Villere Street in New Orleans, LA 70116. It is positioned minutes from the French Quarter and Bayou St. John, placing the home within reach of area dining, music, and culture.
For buyers and tenants, the current duplex configuration supports a range of uses, including owner-occupancy with rental income or a two-unit setup for guests, home office use, or long-term tenancy. With the option to rework the plan into a single-family residence, the property can also appeal to renovators and homeowners looking to tailor a historic-style home to their needs. Schedule a private tour to review the layout and finishes firsthand.
Key Highlights
- Historic Treme side hall camelback built in 1863, currently configured as a 2‑unit layout
- Total 3 bedrooms and 3 bathrooms: front unit has 2BR/2BA; rear unit has 1BR/1BA
- Shared courtyard area for both units, with front and rear access to the outdoor space
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $34.5k | $19.80 |
| − Vacancy | −$3.0k | −$1.71 |
| EGI | $31.5k | $18.09 |
| − OpEx | −$9.5k | −$5.43 |
| NOI | $22.1k | $12.66 |
1,743 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$315.3K
$275.9K – $367.9K
NOI $22,071 @ 7.0% cap · market cap 6.90%
Second Best
Apartment 5plus
$289.8K
$253.6K – $338.1K
NOI $20,286 @ 7.0% cap · market cap 6.34%
Theoretical Best
Office A
$443.0K
$387.6K – $516.9K
NOI $31,011 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
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, totaling three bedrooms and three bathrooms, with an open kitchen and stainless appliances.
Where is this duplex located?
The property is located at 1240 N VILLERE Street New Orleans, LA.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Historic Treme side hall camelback built in 1863, currently configured as a 2‑unit layout; Total 3 bedrooms and 3 bathrooms: front unit has 2BR/2BA; rear unit has 1BR/1BA; Shared courtyard area for both units, with front and rear access to the outdoor space
