Historic Victorian Apartment
New
For Sale
$2,249,000
1309 DAUPHINE Street, New Orleans, LA 70116
Multi-Family, Victorian, New Orleans, LA
Property Size6,069 SF
Lot Size0.10 Acres
Price / SF$370.57
Days on Market4
Property Features for 1309 DAUPHINE Street
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Security features
Security
Patio and Porch features
Porch, Patio
Exterior features
Balcony, Courtyard, Fence, Outdoor Entertainment Area Beyond Your Average Patio, Porch, Security Cameras
Fencing
Fenced
Lot features
Regular
Subdivision
French Quarter, VC
Standard status
Active
APN
208101902
Size
6,069 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Description
SQ 81 LOT B OR 15 DAUPHINE ST 32-2/34X26-100/63-63
Legal Description
SQ 81 LOT B OR 15 DAUPHINE ST 32-2/34X26-100/63-63
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
courtyard
communal patio
balcony
in-unit washer/dryer
stainless steel appliances
gas ranges
dishwashers
Carrera marble countertops
Building Details
Year built
1883
Floors in Building
3
Number of units
7
Roof type
Slate
Architectural style
Victorian
Listing Agency:
Keller Williams Realty Services
(985) 727-7000
Listed By:
Justin Warren · License #S53843
(601) 297-9909
Added: Sep 10
Changed: Sep 12
Last Checked: Sep 13 at 8:06PM
MLS# 2576654
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 three-story apartment property dates to 1883 and contains approximately 6,069 square feet across seven residential units. The one-, two-, and three-bedroom residences provide 13 bedrooms and 13 full baths. Historic features include a Mansard roof, cypress siding, Heart Pine floors, chandeliers, and Victorian architectural detailing, while updated interiors offer stainless steel appliances, Carrera marble countertops, gas ranges, dishwashers, and in-unit washers and dryers. Major work has addressed the electrical, plumbing, and HVAC systems, and a fire sprinkler system has been installed.
The 0.0972-acre property is located at 1309 Dauphine Street in New Orleans' Vieux Carre, next to Cabrini Park and near Port of Call and the Esplanade Avenue corridor. Exterior amenities include an oversized courtyard, communal patio, balcony, porch, fencing, security cameras, and a detached rear unit. Six residences are rented, while the remaining unit is occupied by the owner, who intends to stay as a rent-paying tenant. Public water, central heating, central air, and a slate roof serve the property.
The 0.0972-acre property is located at 1309 Dauphine Street in New Orleans' Vieux Carre, next to Cabrini Park and near Port of Call and the Esplanade Avenue corridor. Exterior amenities include an oversized courtyard, communal patio, balcony, porch, fencing, security cameras, and a detached rear unit. Six residences are rented, while the remaining unit is occupied by the owner, who intends to stay as a rent-paying tenant. Public water, central heating, central air, and a slate roof serve the property.
Key Highlights
- Seven residential units with 13 bedrooms and 13 full baths
- Approximately 6,069 square feet on 0.0972 acres
- 1883 Victorian architecture with Mansard roof, cypress siding, and Heart Pine floors
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$70,636
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,412,720
$1.4M
Cap Rate 7%
$1,009,086
$1.0M
Cap Rate 9%
$784,844
$784.8K
Market Conditions
NOI Build-Up for 6,069 SF
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.
Gross rent
$141.3K $23.28/SF
− Vacancy
−$12.9K −$2.12/SF
EGI
$128.4K $21.16/SF
− OpEx
−$57.8K −$9.52/SF
NOI
$70.6K $11.64/SF
Area
New Orleans, LA
Vacancy
9.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,412,720
Cap Rate 7%
$1,009,086
Cap Rate 9%
$784,844
Alternative Uses
Best Use
Apartment 5plus
$1.01M
$883.0K – $1.18M
NOI $70,636 @ 7.0% cap · market cap 3.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $107,978 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
7
Residential units
Yes
Sprinkler system
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,585
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Three-story multifamily property combining period architecture with updated building systems and residential amenities.
Where is this apartment building located?
The property is located at 1309 DAUPHINE Street New Orleans, LA.
What is the asking price?
The asking price for this property is $2,249,000.
What are key features of this property?
This property features: Seven residential units with 13 bedrooms and 13 full baths; Approximately 6,069 square feet on 0.0972 acres; 1883 Victorian architecture with Mansard roof, cypress siding, and Heart Pine floors
