Tenant-Occupied
For Sale
$240,000
3120 Broadway St, New Orleans, LA 70125
Built in 1930, the property includes one unit leased to a long-term tenant and access to public transportation.
Property Size1,700 SF
Price / SF$141.18
Days on Market81
Property Features for 3120 Broadway St
General Information
Standard status
Active
Size
1,700 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Year Built
1930
Listing Agency:
Composite Realty Group, LLC
Listed By:
Demetria Miller · License #995717734
(504) 430-4490
Source:
Dominionplace
Added: Jul 20
Changed: Oct 1
Last Checked: Oct 7 at 4:02PM
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 Composite Realty Group, LLC
Investment Insights
Based on property information with market context.
This 1,700-square-foot duplex, constructed in 1930, contains four bedrooms and two bathrooms. One side is occupied by a long-term tenant, while the property’s current configuration supports two residential units.
Located at 3120 Broadway St in New Orleans, the property offers access to major streets, universities, shopping, dining, and public transportation. Tenant privacy is requested, with showings arranged by appointment.
Located at 3120 Broadway St in New Orleans, the property offers access to major streets, universities, shopping, dining, and public transportation. Tenant privacy is requested, with showings arranged by appointment.
Key Highlights
- Duplex with 1,700 square feet of building area
- Four bedrooms and two bathrooms
- Built in 1930
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,526
Cap Rate
8.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$430,520
$430.5K
Cap Rate 7%
$307,514
$307.5K
Cap Rate 9%
$239,178
$239.2K
Market Conditions
NOI Build-Up for 1,700 SF
Gross rent
$33.7K $19.80/SF
− Vacancy
−$2.9K −$1.71/SF
EGI
$30.8K $18.09/SF
− OpEx
−$9.2K −$5.43/SF
NOI
$21.5K $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 Rate 5%
$430,520
Cap Rate 7%
$307,514
Cap Rate 9%
$239,178
Alternative Uses
Best Use
Multifamily LT 5
$307.5K
$269.1K – $358.8K
NOI $21,526 @ 7.0% cap · market cap 8.97%
Second Best
Apartment 5plus
$282.7K
$247.3K – $329.8K
NOI $19,786 @ 7.0% cap · market cap 8.24%
Theoretical Best
Office A
$432.1K
$378.1K – $504.1K
NOI $30,246 @ 7.0% cap · market cap 12.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,274
Businesses Nearby
Explore this area
Business Placement
Demographics for 70125, LA
17,457
Population
7,972
Households
2.2
Avg Household Size
33
Median Age
46%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
7,590
Density / Sq Mi
$58,956
Median Household Income
$39,623
Median Earnings
$1,292
Median Rent
$428,600
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 - Built in 1930, the property includes one unit leased to a long-term tenant and access to public transportation.
Where is this duplex located?
The property is located at 3120 Broadway St New Orleans, LA.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Duplex with 1,700 square feet of building area; Four bedrooms and two bathrooms; Built in 1930
