Historic Two-Unit
For Sale
$575,000
1310 Ursulines Avenue, New Orleans, LA 70116
Flexible layout includes gated off-street parking, porches, a roof deck, and workshop space.
Property Size1,981 SF
Price / SF$290.26
Days on Market298
Property Features for 1310 Ursulines Avenue
General Information
Standard status
Active
Size
1,981 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Additional Details
Furnished
Yes
Multifamily Units
2
Amenities
gated parking
covered porches
rear roof deck
workshop/entertainment area
laundry
storage
Wall Unit(s), Window Unit(s)
Wall Furnace
1
3
4
Yes
Asphalt
Other
2
Balcony
Pillar/Post/Pier
HardiPlank Type, Other, Stucco
Building Details
Year Built
1923
Buildings
1
Listing Agency:
REVE, REALTORS
Listed By:
Cindy Flannery · License #099564494
(504) 908-9333
Source:
Compass
Added: Nov 8, 2025
Changed: Aug 31
Last Checked: Sep 2 at 12:09AM
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 REVE, REALTORS
Investment Insights
Based on property information with market context.
Built in 1923, this 1,981-square-foot duplex is arranged as two separate units with four bedrooms and three bathrooms. The configuration can also be opened into a single-family residence. Original wide-plank heart pine flooring adds historic character, while the upper level includes a kitchen addition with modern appliances and a bathroom renovated in 2022 with a large walk-in shower.
Outdoor areas include covered porches, a rear roof deck, and a sizable workshop and entertainment area. The property also provides laundry and storage, along with a washer, dryer, and downstairs refrigerator purchased in 2024. Gated off-street parking is included. The home is offered furnished, excluding artwork, and sits two blocks from the French Quarter on Ursulines Avenue in New Orleans.
Outdoor areas include covered porches, a rear roof deck, and a sizable workshop and entertainment area. The property also provides laundry and storage, along with a washer, dryer, and downstairs refrigerator purchased in 2024. Gated off-street parking is included. The home is offered furnished, excluding artwork, and sits two blocks from the French Quarter on Ursulines Avenue in New Orleans.
Key Highlights
- Two‑unit configuration with 4 bedrooms and 3 bathrooms
- 1,981 SF property built in 1923
- Gated off‑street parking
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
$25,084
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
4.36%
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%
$501,680
$501.7K
Cap Rate 7%
$358,343
$358.3K
Cap Rate 9%
$278,711
$278.7K
Market Conditions
NOI Build-Up for 1,981 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
$39.2K $19.80/SF
− Vacancy
−$3.4K −$1.71/SF
EGI
$35.8K $18.09/SF
− OpEx
−$10.8K −$5.43/SF
NOI
$25.1K $12.66/SF
Area
New Orleans, LA
Vacancy
8.64%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$501,680
Cap Rate 7%
$358,343
Cap Rate 9%
$278,711
Alternative Uses
Best Use
Multifamily LT 5
$358.3K
$313.6K – $418.1K
NOI $25,084 @ 7.0% cap · market cap 4.36%
Second Best
Apartment 5plus
$329.4K
$288.2K – $384.3K
NOI $23,057 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$503.5K
$440.6K – $587.4K
NOI $35,245 @ 7.0% cap · market cap 6.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,963
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Flexible layout includes gated off-street parking, porches, a roof deck, and workshop space.
Where is this duplex located?
The property is located at 1310 Ursulines Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two‑unit configuration with 4 bedrooms and 3 bathrooms; 1,981 SF property built in 1923; Gated off‑street parking
