Historic Duplex with New
New
For Sale
$189,000
1324 GENERAL OGDEN Street, New Orleans, LA 70118
Multi-Family, Shot Gun, New Orleans, LA
Property Size1,036 SF
Lot Size0.04 Acres
Price / SF$182.43
Days on Market7
Property Features for 1324 GENERAL OGDEN Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Patio and Porch features
Porch
Exterior features
Porch, Window Screens
Lot features
Regular
Subdivision
Leonidas
Standard status
Active
APN
716203107
Size
1,036 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Description
SQ 172 LOT 7 GEN OGDEN 30 X 60 1324-26 GEN OGDEN
Legal Description
SQ 172 LOT 7 GEN OGDEN 30 X 60 1324-26 GEN OGDEN
Utilities
Heating system
Central
Cooling system
Window Unit(s), Central Air
Water source
Public
Building Details
Year built
1930
Floors in Building
1
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
Keller Williams Realty New Orleans
(504) 862-0100
Listed By:
Cameron Smith
(504) 345-9996
Added: Aug 16
Changed: Aug 19
Last Checked: Aug 22 at 8:06AM
MLS# 2572276
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1930, this New Orleans duplex contains 1,036 square feet across two one-bedroom, one-bath units. The property has a porch, window screens, a shingle roof, and separate electric meters with shared public water service. Central heating and air conditioning serve the 1324 side, while the 1326 side has window units and space heaters; the mini-splits are inoperable.
The 0.0413-acre property is in the Leonidas area near the Oak Street corridor, with nearby access to Carrollton, Riverbend, Uptown, and the Mississippi River greenway. Oak Street destinations named in the property information include Jacques-Imo’s, Aguasanta, Breads on Oak, and Euphorbia Kava Bar. The site is in Flood Zone X, and the roof was replaced after Hurricane Ida.
The 0.0413-acre property is in the Leonidas area near the Oak Street corridor, with nearby access to Carrollton, Riverbend, Uptown, and the Mississippi River greenway. Oak Street destinations named in the property information include Jacques-Imo’s, Aguasanta, Breads on Oak, and Euphorbia Kava Bar. The site is in Flood Zone X, and the roof was replaced after Hurricane Ida.
Key Highlights
- 1,036‑square‑foot duplex with two 1‑bedroom, 1‑bath units
- Built in 1930 on a 0.0413‑acre lot
- New roof installed following Hurricane Ida
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
$13,118
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
6.94%
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%
$262,360
$262.4K
Cap Rate 7%
$187,400
$187.4K
Cap Rate 9%
$145,756
$145.8K
Market Conditions
NOI Build-Up for 1,036 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
$20.5K $19.80/SF
− Vacancy
−$1.8K −$1.71/SF
EGI
$18.7K $18.09/SF
− OpEx
−$5.6K −$5.43/SF
NOI
$13.1K $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%
$262,360
Cap Rate 7%
$187,400
Cap Rate 9%
$145,756
Alternative Uses
Best Use
Multifamily LT 5
$187.4K
$164.0K – $218.6K
NOI $13,118 @ 7.0% cap · market cap 6.94%
Second Best
Apartment 5plus
$172.3K
$150.7K – $201.0K
NOI $12,058 @ 7.0% cap · market cap 6.38%
Theoretical Best
Office A
$263.3K
$230.4K – $307.2K
NOI $18,432 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,334
Businesses Nearby
Explore this area
Business Placement
Demographics for 70118, LA
35,635
Population
15,464
Households
2.3
Avg Household Size
31
Median Age
54%
College-Educated
92%
High-School Grad
4.6 sq mi
ZIP Area
7,747
Density / Sq Mi
$62,665
Median Household Income
$28,199
Median Earnings
$1,257
Median Rent
$451,600
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 separate one-bedroom units offer flexible residential income or owner-occupant use near Oak Street.
Where is this duplex located?
The property is located at 1324 GENERAL OGDEN Street New Orleans, LA.
What is the asking price?
The asking price for this property is $189,000.
What are key features of this property?
This property features: 1,036‑square‑foot duplex with two 1‑bedroom, 1‑bath units; Built in 1930 on a 0.0413‑acre lot; New roof installed following Hurricane Ida
