Renovated Craftsman-Style
For Sale
$239,000
3008 10 N Conti St, New Orleans, LA 70119
Two-unit property with separate meters, tenant-paid utilities, private laundry areas, and a shared backyard near the Lafitte Greenway.
Property Size1,297 SF
Price / SF$184.27
Days on Market43
Property Features for 3008 10 N Conti St
General Information
Standard status
Active
Size
1,297 SF
Property subtype
Multi-Family
Building Details
Year Built
1943
Listing Agency:
Realty One Group Immobilia
(504) 722-7222
Listed By:
Darren Zuppardo · License #000000101
Source:
Fiorellaavenue
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 31 at 6:56PM
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 Realty One Group Immobilia
Investment Insights
Based on property information with market context.
This Mid-City duplex, built in 1943, contains two residences with matching two-bedroom layouts. Each unit places the living room and kitchen toward the front, with a central bath and bedrooms positioned at the rear. Separate laundry rooms open to a spacious backyard, while a full-width porch adds usable outdoor space at the front. Distinctive original elements include operable wood windows, solid wood doors, and Craftsman-style trim. The property was renovated in 2007 and received a roof replacement in 2021.
Separate utility meters are in place, and utilities are paid by the tenants. The property sits one block from the Lafitte Greenway, with Bayou St. John, restaurants, coffee shops, and entertainment venues identified nearby. The neighboring duplex at 3004-06 N. Conti Street is also available for purchase.
Separate utility meters are in place, and utilities are paid by the tenants. The property sits one block from the Lafitte Greenway, with Bayou St. John, restaurants, coffee shops, and entertainment venues identified nearby. The neighboring duplex at 3004-06 N. Conti Street is also available for purchase.
Key Highlights
- Two‑bedroom layout in each of the two units
- Separate meters with utilities paid by tenants
- Renovated in 2007; roof replaced in 2021
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
$16,423
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
6.87%
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%
$328,460
$328.5K
Cap Rate 7%
$234,614
$234.6K
Cap Rate 9%
$182,478
$182.5K
Market Conditions
NOI Build-Up for 1,297 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
$25.7K $19.80/SF
− Vacancy
−$2.2K −$1.71/SF
EGI
$23.5K $18.09/SF
− OpEx
−$7.0K −$5.43/SF
NOI
$16.4K $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%
$328,460
Cap Rate 7%
$234,614
Cap Rate 9%
$182,478
Alternative Uses
Best Use
Multifamily LT 5
$234.6K
$205.3K – $273.7K
NOI $16,423 @ 7.0% cap · market cap 6.87%
Second Best
Apartment 5plus
$215.7K
$188.7K – $251.6K
NOI $15,096 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$339.4K
$297.0K – $396.0K
NOI $23,757 @ 7.0% cap · market cap 9.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,476
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with separate meters, tenant-paid utilities, private laundry areas, and a shared backyard near the Lafitte Greenway.
Where is this duplex located?
The property is located at 3008 10 N Conti St New Orleans, LA.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: Two‑bedroom layout in each of the two units; Separate meters with utilities paid by tenants; Renovated in 2007; roof replaced in 2021
