Two-Unit
For Sale
$191,000
2017 19 MARIGNY Street, New Orleans, LA 70117
Residential income property with an owner-occupancy option and rental-income potential from the second unit.
Property Size1,392 SF
Price / SF$137.21
Days on Market554
Property Features for 2017 19 MARIGNY Street
General Information
Standard status
Active
Size
1,392 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1967
Listing Agency:
Greenup & Associates, LLC
(504) 324-2147
Listed By:
Rodney Greenup · License #000038311
(504) 931-0452
Source:
Exitrealty
Added: Feb 26, 2025
Changed: Sep 2
Last Checked: Sep 2 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 Greenup & Associates, LLC
Investment Insights
Based on property information with market context.
This two-unit residential property offers 1,392 square feet of living space in a duplex configuration. Constructed in 1967, it can support an income-producing ownership strategy while retaining the flexibility of occupying one unit and leasing the other.
The property is located in New Orleans’ 8th Ward at 2017 19 MARIGNY Street, one block from Elysian Fields. Its two-unit format provides a straightforward arrangement for residential rental use or combined owner occupancy and leasing.
The property is located in New Orleans’ 8th Ward at 2017 19 MARIGNY Street, one block from Elysian Fields. Its two-unit format provides a straightforward arrangement for residential rental use or combined owner occupancy and leasing.
Key Highlights
- Two‑unit duplex configuration
- 1,392 square feet of property size
- Built in 1967
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
$16,201
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
8.48%
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%
$324,020
$324.0K
Cap Rate 7%
$231,443
$231.4K
Cap Rate 9%
$180,011
$180.0K
Market Conditions
NOI Build-Up for 1,392 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
$32.4K $23.28/SF
− Vacancy
−$2.9K −$2.12/SF
EGI
$29.5K $21.16/SF
− OpEx
−$13.3K −$9.52/SF
NOI
$16.2K $11.64/SF
Area
New Orleans, LA
Vacancy
9.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$324,020
Cap Rate 7%
$231,443
Cap Rate 9%
$180,011
Alternative Uses
Best Use
Multifamily LT 5
$251.8K
$220.3K – $293.8K
NOI $17,626 @ 7.0% cap · market cap 9.23%
Second Best
Apartment 5plus
$231.4K
$202.5K – $270.0K
NOI $16,201 @ 7.0% cap · market cap 8.48%
Theoretical Best
Office A
$353.8K
$309.6K – $412.8K
NOI $24,766 @ 7.0% cap · market cap 12.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
821
Businesses Nearby
Explore this area
Business Placement
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
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 - Residential income property with an owner-occupancy option and rental-income potential from the second unit.
Where is this duplex located?
The property is located at 2017 19 MARIGNY Street New Orleans, LA.
What is the asking price?
The asking price for this property is $191,000.
What are key features of this property?
This property features: Two‑unit duplex configuration; 1,392 square feet of property size; Built in 1967
