Renovated Two-Unit
For Sale
$210,000
2649 51 Ap Tureaud Ave, New Orleans, LA 70119
Two-bedroom residences with included appliances, current occupancy, and separately metered tenant-paid electric and gas service.
Property Size1,416 SF
Price / SF$148.31
Days on Market14
Property Features for 2649 51 Ap Tureaud Ave
General Information
Standard status
Active
Size
1,416 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
in-unit washer/dryer
Building Details
Year Built
1940
Tenancy
Multi
Listing Agency:
Satsuma Property Management
(504) 884-2718
Listed By:
Renae Berthelot · License #995707536
Source:
Dominionplace
Added: Aug 19
Changed: Aug 31
Last Checked: Aug 30 at 8:55PM
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 Satsuma Property Management
Investment Insights
Based on property information with market context.
This duplex contains two residences, each offering two bedrooms and one bathroom. The property underwent renovation in 2023 and includes vinyl flooring, updated interior and exterior paint, and owner-provided appliances in both units. Each side has a stove, refrigerator, washer, and dryer, all included with the sale. The building was constructed in 1940 and totals 1,416 square feet.
Both residences are occupied by HANO recipients, with tenants interested in remaining in place. Residents maintain the yard and pay their own electric and gas utilities, while water is delivered through one shared meter. Located at 2649 51 Ap Tureaud Ave in New Orleans, the property offers a two-unit residential income configuration with established occupancy and a defined utility arrangement.
Both residences are occupied by HANO recipients, with tenants interested in remaining in place. Residents maintain the yard and pay their own electric and gas utilities, while water is delivered through one shared meter. Located at 2649 51 Ap Tureaud Ave in New Orleans, the property offers a two-unit residential income configuration with established occupancy and a defined utility arrangement.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom per residence
- Renovated in 2023 with vinyl flooring and fresh interior and exterior paint
- 1,416 square feet on a property built in 1940
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
$17,930
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
8.54%
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%
$358,600
$358.6K
Cap Rate 7%
$256,143
$256.1K
Cap Rate 9%
$199,222
$199.2K
Market Conditions
NOI Build-Up for 1,416 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
$28.0K $19.80/SF
− Vacancy
−$2.4K −$1.71/SF
EGI
$25.6K $18.09/SF
− OpEx
−$7.7K −$5.43/SF
NOI
$17.9K $12.66/SF
Area
ZIP 70119
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%
$358,600
Cap Rate 7%
$256,143
Cap Rate 9%
$199,222
Alternative Uses
Best Use
Multifamily LT 5
$256.1K
$224.1K – $298.8K
NOI $17,930 @ 7.0% cap · market cap 8.54%
Second Best
Apartment 5plus
$235.4K
$206.0K – $274.7K
NOI $16,481 @ 7.0% cap · market cap 7.85%
Theoretical Best
Office A
$370.5K
$324.2K – $432.3K
NOI $25,937 @ 7.0% cap · market cap 12.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
758
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
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 - Two-bedroom residences with included appliances, current occupancy, and separately metered tenant-paid electric and gas service.
Where is this duplex located?
The property is located at 2649 51 Ap Tureaud Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom per residence; Renovated in 2023 with vinyl flooring and fresh interior and exterior paint; 1,416 square feet on a property built in 1940
