Student Housing Duplex with
2039 CALHOUN Street New Orleans, LA 70118
2039 CALHOUN Street, New Orleans, LA, 70118
$1,350,000
For Sale
$1,350,000
Fully leased student housing duplex with two units, full kitchens, and in-unit laundry near Tulane and Loyola.
Property Size5,700 SF
Price / SF$236.84
Days on Market482
Property Features for 2039 CALHOUN Street
General Information
- Standard status
- Active
- Size
- 5,700 SF
- Property subtype
- Duplex
Building Details
- Year Built
- 1905
Listing agency
Ben & Burka
(504) 301-1002
Listed by
Aaron Kazanoff · License #0995700882
Source
Talbot-realty
Added: Mar 28, 2025 Updated: Jul 21 at 8:04PM Checked: Jul 21 at 8:04PM
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 Ben & Burka
Investment Insights
Based on property information with market context.
This university-area student housing duplex is fully leased and configured as a standalone four-bedroom ground-floor unit and an eight-bedroom unit spread across the second and third floors. The property’s two units are currently leased to one group, with the ability to rent separately by closing a door. Each unit includes a full kitchen and in-unit laundry.
Located at the corner of Freret and Calhoun Streets, the property provides commanding corner presence with direct sightlines to nearby universities. Off-street parking is available, and the building includes original historic details alongside extensive renovations such as a new roof, new gutters, exterior paint, major siding and HVAC repairs, new flooring, updated bathrooms, and new laundry units. The upper unit is fully leased for 2025–2026, and ownership is finalizing a lease for the ground floor.
Located at the corner of Freret and Calhoun Streets, the property provides commanding corner presence with direct sightlines to nearby universities. Off-street parking is available, and the building includes original historic details alongside extensive renovations such as a new roof, new gutters, exterior paint, major siding and HVAC repairs, new flooring, updated bathrooms, and new laundry units. The upper unit is fully leased for 2025–2026, and ownership is finalizing a lease for the ground floor.
Key Highlights
- 1905‑built 5,700+ SF student housing property, fully leased and currently generating income from two units
- 12 total bedrooms: standalone 4‑bedroom unit on the ground floor and 8‑bedroom unit on the 2nd and 3rd floors
- Each unit has a full kitchen and in‑unit laundry; units can be rented separately by closing a door
Local 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 | $112.9k | $19.80 |
| − Vacancy | −$9.8k | −$1.71 |
| EGI | $103.1k | $18.09 |
| − OpEx | −$30.9k | −$5.43 |
| NOI | $72.2k | $12.66 |
5,700 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.03M
$902.2K – $1.20M
NOI $72,176 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$947.7K
$829.3K – $1.11M
NOI $66,341 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,413 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Fully leased student housing duplex with two units, full kitchens, and in-unit laundry near Tulane and Loyola.
Where is this duplex located?
The property is located at 2039 CALHOUN Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 1905‑built 5,700+ SF student housing property, fully leased and currently generating income from two units; 12 total bedrooms: standalone 4‑bedroom unit on the ground floor and 8‑bedroom unit on the 2nd and 3rd floors; Each unit has a full kitchen and in‑unit laundry; units can be rented separately by closing a door
