Renovated Duplex with Corner
2928-30 Upperline Street New Orleans, LA 70115
2928-30 Upperline Street, New Orleans, LA, 70115
$485,000
For Sale
$485,000
Renovated duplex features two independent units with separate utilities and modern upgrades completed in 2024.
Property Size2,058 SF
Price / SF$235.67
Days on Market830
Property Features for 2928-30 Upperline Street
General Information
- Standard status
- Active
- Size
- 2,058 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1924
Listing agency
FQR Realtors
(504) 603-6577
Listed by
Jacob Freedman · License #995703560
(504) 603-6577
Source
Compass
Added: Apr 14, 2024 Updated: Jul 21 at 10:26PM Checked: Jul 22 at 10:24AM
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 FQR Realtors
Investment Insights
Based on property information with market context.
This renovated duplex offers two separate sides, each with three independent bedrooms and one bath, and it is not a shotgun layout. The 2024 upgrades include a new roof, new TRANE HVAC systems on both sides, all new subfloor and flooring, fresh interior and exterior paint, and updated kitchen finishes with wood cabinetry, stone counters, and stainless steel appliances.
The property sits on an oversized corner lot, which provides space at the rear for the potential addition of off-street parking. Separate electric, gas, and water meters are in place, allowing tenants to pay their own utilities.
With independent bedroom and bath layouts on each side, this property is designed for straightforward, tenant-friendly separation while maintaining a cohesive building style throughout.
The property sits on an oversized corner lot, which provides space at the rear for the potential addition of off-street parking. Separate electric, gas, and water meters are in place, allowing tenants to pay their own utilities.
With independent bedroom and bath layouts on each side, this property is designed for straightforward, tenant-friendly separation while maintaining a cohesive building style throughout.
Key Highlights
- Renovated duplex built in 1924 with 2 full bathrooms and 6 total bedrooms
- Each side has 3 independent bedrooms and 1 bath, and the layout is not a shotgun
- 2024 upgrades include new roof plus new TRANE HVAC systems on both sides
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 | $27.7k | $13.44 |
| − Vacancy | −$2.4k | −$1.16 |
| EGI | $25.3k | $12.28 |
| − OpEx | −$7.6k | −$3.68 |
| NOI | $17.7k | $8.60 |
2,058 SF · lease $13.44/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$252.7K
$221.1K – $294.8K
NOI $17,689 @ 7.0% cap · market cap 3.65%
Second Best
Apartment 5plus
$224.0K
$196.0K – $261.3K
NOI $15,680 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$543.0K
$475.1K – $633.5K
NOI $38,007 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Renovated duplex features two independent units with separate utilities and modern upgrades completed in 2024.
Where is this duplex located?
The property is located at 2928-30 Upperline Street New Orleans, LA.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Renovated duplex built in 1924 with 2 full bathrooms and 6 total bedrooms; Each side has 3 independent bedrooms and 1 bath, and the layout is not a shotgun; 2024 upgrades include new roof plus new TRANE HVAC systems on both sides
