Tenanted Duplex with Multiple
3120-22 Law Street New Orleans, LA 70117
For Sale
$225,000
Duplex with tenants already in place, a deep lot with backyard space, and a long driveway for multiple vehicles.
Property Size1,440 SF
Price / SF$156.25
Days on Market719
Property Features for 3120-22 Law Street
General Information
- Standard status
- Active
- Size
- 1,440 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 2013
Listing Agency:
The Pellerin Group NOLA LLC
(504) 628-7723
Listed By:
Nicole Pellerin · License #995704017
(504) 628-7723
Source:
Compass
Added: Aug 4, 2024
Changed: Jul 22
Last Checked: Jul 23 at 8:25AM
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 The Pellerin Group NOLA LLC
Investment Insights
Based on property information with market context.
This for-sale duplex offers two rental units with tenants already in place, providing immediate rental income potential for an investor or owner-occupant. The property sits on a deep lot and includes a sized backyard area suited to outdoor use. A long driveway allows parking for multiple vehicles.
Located in the Upper 9th Ward, the address at 3120-22 Law Street places the property within minutes of downtown New Orleans and St. Bernard Parish, supporting convenient commuting.
Overall, the combination of existing tenants, outdoor space from a deep lot, and practical on-site parking makes this duplex a straightforward option for buyers looking for a ready-to-rent setup.
Located in the Upper 9th Ward, the address at 3120-22 Law Street places the property within minutes of downtown New Orleans and St. Bernard Parish, supporting convenient commuting.
Overall, the combination of existing tenants, outdoor space from a deep lot, and practical on-site parking makes this duplex a straightforward option for buyers looking for a ready-to-rent setup.
Key Highlights
- Duplex with 4 bedrooms and 2 full bathrooms (1‑story) built in 2013
- Central heating and central air
- Asphalt roof with pillar/post/pier foundation
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 | $28.5k | $19.80 |
| − Vacancy | −$2.5k | −$1.71 |
| EGI | $26.0k | $18.09 |
| − OpEx | −$7.8k | −$5.43 |
| NOI | $18.2k | $12.66 |
1,440 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$260.5K
$227.9K – $303.9K
NOI $18,234 @ 7.0% cap · market cap 8.10%
Second Best
Apartment 5plus
$239.4K
$209.5K – $279.3K
NOI $16,760 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$366.0K
$320.3K – $427.0K
NOI $25,620 @ 7.0% cap · market cap 11.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Duplex with tenants already in place, a deep lot with backyard space, and a long driveway for multiple vehicles.
Where is this duplex located?
The property is located at 3120-22 Law Street New Orleans, LA.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Duplex with 4 bedrooms and 2 full bathrooms (1‑story) built in 2013; Central heating and central air; Asphalt roof with pillar/post/pier foundation
