Residential Income
2218 20 N ROMAN Street New Orleans, LA 70117
For Sale
$269,900
Well-maintained two-unit duplex is fully occupied, with separate side entries and courtyard access.
Property Size1,800 SF
Price / SF$149.94
Days on Market443
Property Features for 2218 20 N ROMAN Street
General Information
- Standard status
- Active
- Size
- 1,800 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1950
Listing Agency:
Wurth Real Estate Services
(504) 258-1800
Listed By:
Steve Richards · License #995683048
(504) 258-1800
Source:
Exitrealty
Added: May 7, 2025
Changed: Jul 22
Last Checked: Jul 23 at 8:54AM
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 Wurth Real Estate Services
Investment Insights
Based on property information with market context.
This well-maintained duplex includes two income-producing residential units. The 2218 side is a 1-bedroom, 1-bath layout with a side entry and direct courtyard access. The 2220 side offers 3 bedrooms and 2 baths with a front porch entry, plus a rear courtyard for outdoor living.
The property is located at 2218–2220 N Roman Street in New Orleans. It is described as fully occupied and provides immediate rental income, and the public remarks note the property is in Flood Zone X.
Each unit is presented as consistently maintained and rented, supporting an easy-to-understand duplex configuration for investors seeking current occupancy.
The property is located at 2218–2220 N Roman Street in New Orleans. It is described as fully occupied and provides immediate rental income, and the public remarks note the property is in Flood Zone X.
Each unit is presented as consistently maintained and rented, supporting an easy-to-understand duplex configuration for investors seeking current occupancy.
Key Highlights
- Well‑maintained 1950‑built two‑unit duplex in New Orleans’ 8th Ward
- Fully occupied with immediate rental income (Flood Zone X)
- 2218 unit: 1 bed/1 bath, side entry with direct courtyard access; rented for $1,000/month
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 | $35.6k | $19.80 |
| − Vacancy | −$3.1k | −$1.71 |
| EGI | $32.6k | $18.09 |
| − OpEx | −$9.8k | −$5.43 |
| NOI | $22.8k | $12.66 |
1,800 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$325.6K
$284.9K – $379.9K
NOI $22,792 @ 7.0% cap · market cap 8.44%
Second Best
Apartment 5plus
$299.3K
$261.9K – $349.2K
NOI $20,950 @ 7.0% cap · market cap 7.76%
Theoretical Best
Office A
$457.5K
$400.3K – $533.8K
NOI $32,025 @ 7.0% cap · market cap 11.87%
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 - Well-maintained two-unit duplex is fully occupied, with separate side entries and courtyard access.
Where is this duplex located?
The property is located at 2218 20 N ROMAN Street New Orleans, LA.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: Well‑maintained 1950‑built two‑unit duplex in New Orleans’ 8th Ward; Fully occupied with immediate rental income (Flood Zone X); 2218 unit: 1 bed/1 bath, side entry with direct courtyard access; rented for $1,000/month
