Two-Story Duplex with Covered
For Sale
$559,000
2830 32 Palmer Ave, New Orleans, LA 70118
Two residential units offer flexible layouts, hardwood flooring, and substantial off-street parking near Tulane and Loyola campuses.
Property Size3,458 SF
Price / SF$161.65
Days on Market88
Property Features for 2830 32 Palmer Ave
General Information
Standard status
Active
Size
3,458 SF
Total Parking Spaces
8
Property subtype
Multi-Family
Units
Unit Mix
2 x 4BR/2BA
Multifamily Units
2
Amenities
patio
Building Details
Year Built
1932
Buildings
1
Stories
2
Listing Agency:
Crescent Sotheby's International
Listed By:
Dawnne Keeney · License #995696801
(504) 650-3912
Source:
Fiorellaavenue
Added: Jul 10
Changed: Sep 18
Last Checked: Oct 4 at 11:47AM
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 Crescent Sotheby's International
Investment Insights
Based on property information with market context.
Built in 1932, this two-story duplex was most recently configured as two four-bedroom, two-bath units. Each side includes a spacious living room, adjoining dining area, separate kitchen, center hall, three bedrooms, and two full baths; the fourth bedroom can serve as a home office or playroom. Hardwood flooring runs throughout the property.
The front yard upgrade added off-street parking for eight cars, including four spaces in front, two in the driveway, and two covered spaces in the rear garages. Each unit also has a covered rear carport, while a shared concrete patio provides outdoor grilling and dining space.
The property is a few blocks from Tulane and Loyola campuses and near dining along Claiborne Avenue. Maple Street and Carrollton Avenue retail, shopping, and restaurants are also nearby.
The front yard upgrade added off-street parking for eight cars, including four spaces in front, two in the driveway, and two covered spaces in the rear garages. Each unit also has a covered rear carport, while a shared concrete patio provides outdoor grilling and dining space.
The property is a few blocks from Tulane and Loyola campuses and near dining along Claiborne Avenue. Maple Street and Carrollton Avenue retail, shopping, and restaurants are also nearby.
Key Highlights
- Two‑story duplex built in 1932
- Most recently rented as two 4‑bedroom, 2‑bath units
- Off‑street parking for 8 cars, including 2 covered rear garage spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,787
Cap Rate
7.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$875,740
$875.7K
Cap Rate 7%
$625,529
$625.5K
Cap Rate 9%
$486,522
$486.5K
Market Conditions
NOI Build-Up for 3,458 SF
Gross rent
$68.5K $19.80/SF
− Vacancy
−$5.9K −$1.71/SF
EGI
$62.6K $18.09/SF
− OpEx
−$18.8K −$5.43/SF
NOI
$43.8K $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%
$875,740
Cap Rate 7%
$625,529
Cap Rate 9%
$486,522
Alternative Uses
Best Use
Multifamily LT 5
$625.5K
$547.3K – $729.8K
NOI $43,787 @ 7.0% cap · market cap 7.83%
Second Best
Apartment 5plus
$575.0K
$503.1K – $670.8K
NOI $40,247 @ 7.0% cap · market cap 7.20%
Theoretical Best
Office A
$878.9K
$769.1K – $1.03M
NOI $61,524 @ 7.0% cap · market cap 11.01%
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
1,485
Businesses Nearby
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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
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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 - Two residential units offer flexible layouts, hardwood flooring, and substantial off-street parking near Tulane and Loyola campuses.
Where is this duplex located?
The property is located at 2830 32 Palmer Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $559,000.
What are key features of this property?
This property features: Two‑story duplex built in 1932; Most recently rented as two 4‑bedroom, 2‑bath units; Off‑street parking for 8 cars, including 2 covered rear garage spaces
