Duplex With Covered Rear
For Sale
$525,000
5008 Newlands St, Metairie, LA 70006
Tenant-occupied duplex with rear parking, shared-driveway access, and outdoor patio areas.
Property Size3,635 SF
Price / SF$144.43
Days on Market59
Property Features for 5008 Newlands St
General Information
Standard status
Active
Size
3,635 SF
Property subtype
Multi-Family
Amenities
covered rear patios
Building Details
Year Built
1966
Listing Agency:
Bourg Realty Group LLC
Listed By:
Mary Paulk
(504) 884-1005
Source:
Fiorellaavenue
Added: Aug 10
Changed: Oct 3
Last Checked: Oct 5 at 9:49PM
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 Bourg Realty Group LLC
Investment Insights
Based on property information with market context.
Located at 5008 Newlands St in Metairie, this duplex contains 3,635 square feet with six bedrooms, four full bathrooms, and two half bathrooms. The property includes covered rear patios and rear parking reached through a shared driveway.
Long-term tenants are already in place. The roofs were installed circa 2020 and are approximately 6 years old, adding a relatively recent major building improvement to the property’s physical profile.
Long-term tenants are already in place. The roofs were installed circa 2020 and are approximately 6 years old, adding a relatively recent major building improvement to the property’s physical profile.
Key Highlights
- Duplex with 6 bedrooms, 4 full bathrooms, and 2 half bathrooms
- 3,635 SF property at 5008 Newlands St, Metairie, LA
- Long‑term tenants are in place
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,871
Cap Rate
7.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$777,420
$777.4K
Cap Rate 7%
$555,300
$555.3K
Cap Rate 9%
$431,900
$431.9K
Market Conditions
NOI Build-Up for 3,635 SF
Gross rent
$58.9K $16.20/SF
− Vacancy
−$3.4K −$0.92/SF
EGI
$55.5K $15.28/SF
− OpEx
−$16.7K −$4.58/SF
NOI
$38.9K $10.69/SF
Area
Metairie, LA
Vacancy
5.70%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$777,420
Cap Rate 7%
$555,300
Cap Rate 9%
$431,900
Alternative Uses
Best Use
Multifamily LT 5
$555.3K
$485.9K – $647.9K
NOI $38,871 @ 7.0% cap · market cap 7.40%
Second Best
Apartment 5plus
$483.2K
$422.8K – $563.8K
NOI $33,827 @ 7.0% cap · market cap 6.44%
Theoretical Best
Office A
$851.2K
$744.8K – $993.1K
NOI $59,586 @ 7.0% cap · market cap 11.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
790
Businesses Nearby
Explore this area
Business Placement
Demographics for 70006, LA
16,540
Population
6,645
Households
2.5
Avg Household Size
39
Median Age
38%
College-Educated
89%
High-School Grad
2.6 sq mi
ZIP Area
6,362
Density / Sq Mi
$74,049
Median Household Income
$42,120
Median Earnings
$1,206
Median Rent
$333,000
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?
Duplex - Tenant-occupied duplex with rear parking, shared-driveway access, and outdoor patio areas.
Where is this duplex located?
The property is located at 5008 Newlands St Metairie, LA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Duplex with 6 bedrooms, 4 full bathrooms, and 2 half bathrooms; 3,635 SF property at 5008 Newlands St, Metairie, LA; Long‑term tenants are in place
