Duplex with Two 3-Bedroom
For Sale
$635,000
5872 74 Canal Boulevard, New Orleans, LA 70124
Lakeview duplex with separate residences, covered parking, and convenient access to I-610, downtown, Metairie, parks, and dining.
Property Size3,670 SF
Price / SF$173.02
Days on Market20
Property Features for 5872 74 Canal Boulevard
General Information
Standard status
Active
Size
3,670 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1968
Buildings
1
Listing Agency:
Rodi Realty, Inc
Listed By:
Grant Champagne · License #CHAMPAGNGRA
Source:
Thepuckettteam
Added: Aug 13
Changed: Aug 31
Last Checked: Aug 31 at 1:13PM
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 Rodi Realty, Inc
Investment Insights
Based on property information with market context.
Built in 1968, this duplex contains two residences, each offering 3 bedrooms, 2 bathrooms, and 1,835 square feet of living space. The upper unit features wood flooring and granite countertops. The lower residence is vacant, giving a new owner flexibility to lease it or update the interiors. A 5-year-old roof, carport, and additional off-street parking are included.
The property sits at 5874 Canal Boulevard in New Orleans’ Lakeview area, approximately half a block from I-610. Its location provides access to downtown, Metairie, neighborhood parks, and local dining. The 3,670-square-foot property offers a two-unit configuration suitable for an owner-occupant or rental-focused buyer.
The property sits at 5874 Canal Boulevard in New Orleans’ Lakeview area, approximately half a block from I-610. Its location provides access to downtown, Metairie, neighborhood parks, and local dining. The 3,670-square-foot property offers a two-unit configuration suitable for an owner-occupant or rental-focused buyer.
Key Highlights
- Two‑unit duplex with 3 bedrooms and 2 bathrooms in each residence
- Each unit provides 1,835 square feet of living space
- Upper unit includes wood floors and granite countertops
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
$46,471
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
7.32%
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%
$929,420
$929.4K
Cap Rate 7%
$663,871
$663.9K
Cap Rate 9%
$516,344
$516.3K
Market Conditions
NOI Build-Up for 3,670 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
$72.7K $19.80/SF
− Vacancy
−$6.3K −$1.71/SF
EGI
$66.4K $18.09/SF
− OpEx
−$19.9K −$5.43/SF
NOI
$46.5K $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 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%
$929,420
Cap Rate 7%
$663,871
Cap Rate 9%
$516,344
Alternative Uses
Best Use
Multifamily LT 5
$663.9K
$580.9K – $774.5K
NOI $46,471 @ 7.0% cap · market cap 7.32%
Second Best
Apartment 5plus
$610.2K
$533.9K – $711.9K
NOI $42,715 @ 7.0% cap · market cap 6.73%
Theoretical Best
Office A
$932.8K
$816.2K – $1.09M
NOI $65,295 @ 7.0% cap · market cap 10.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
586
Businesses Nearby
Explore this area
Business Placement
Demographics for 70124, LA
22,777
Population
8,919
Households
2.6
Avg Household Size
37
Median Age
70%
College-Educated
98%
High-School Grad
6.7 sq mi
ZIP Area
3,400
Density / Sq Mi
$121,318
Median Household Income
$66,323
Median Earnings
$1,752
Median Rent
$577,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Lakeview duplex with separate residences, covered parking, and convenient access to I-610, downtown, Metairie, parks, and dining.
Where is this duplex located?
The property is located at 5872 74 Canal Boulevard New Orleans, LA.
What is the asking price?
The asking price for this property is $635,000.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms and 2 bathrooms in each residence; Each unit provides 1,835 square feet of living space; Upper unit includes wood floors and granite countertops
