Duplex with Two Distinct
For Sale
$284,000
8301-8303 Belfast St, New Orleans, LA 70118
Two-unit residential property with driveway parking, outdoor space, and a flexible attic bonus room.
Property Size1,960 SF
Price / SF$144.90
Days on Market26
Property Features for 8301-8303 Belfast St
General Information
Standard status
Active
Size
1,960 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
could benefit from some updates and TLC
Units
Unit Mix
1 x 1BR/1BA, 1 x 3BR/2BA
Multifamily Units
2
Amenities
off-street driveway parking
spacious backyard
converted attic
Building Details
Year Built
1925
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
(504) 615-3946
Listed By:
Austin McCann · License #995704296
Source:
Dominionplace
Added: Aug 7
Changed: Aug 29
Last Checked: Aug 30 at 8:18PM
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 KELLER WILLIAMS REALTY 455-0100
Investment Insights
Based on property information with market context.
Built in 1925, this duplex at 8301-8303 Belfast St includes two separate residential units with distinct layouts. Unit 8301 is a one-bedroom, one-bath loft, while Unit 8303 provides three bedrooms, two full bathrooms, driveway parking, and an attic converted into additional flexible space.
The property occupies a corner lot with a backyard suited to outdoor use and off-street parking. Located in Flood Zone X, the duplex offers a combination of varied unit configurations and existing auxiliary space. The home would benefit from updates and additional work, giving the property a clear improvement component for an owner-user or residential income buyer.
The property occupies a corner lot with a backyard suited to outdoor use and off-street parking. Located in Flood Zone X, the duplex offers a combination of varied unit configurations and existing auxiliary space. The home would benefit from updates and additional work, giving the property a clear improvement component for an owner-user or residential income buyer.
Key Highlights
- Two separate units at 8301‑8303 Belfast St
- Unit 8301: 1‑bedroom, 1‑bath loft
- Unit 8303: 3 bedrooms and 2 full bathrooms
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
$24,818
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
8.74%
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%
$496,360
$496.4K
Cap Rate 7%
$354,543
$354.5K
Cap Rate 9%
$275,756
$275.8K
Market Conditions
NOI Build-Up for 1,960 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
$38.8K $19.80/SF
− Vacancy
−$3.4K −$1.71/SF
EGI
$35.5K $18.09/SF
− OpEx
−$10.6K −$5.43/SF
NOI
$24.8K $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 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%
$496,360
Cap Rate 7%
$354,543
Cap Rate 9%
$275,756
Alternative Uses
Best Use
Multifamily LT 5
$354.5K
$310.2K – $413.6K
NOI $24,818 @ 7.0% cap · market cap 8.74%
Second Best
Apartment 5plus
$325.9K
$285.2K – $380.2K
NOI $22,812 @ 7.0% cap · market cap 8.03%
Theoretical Best
Office A
$498.2K
$435.9K – $581.2K
NOI $34,872 @ 7.0% cap · market cap 12.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
830
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with driveway parking, outdoor space, and a flexible attic bonus room.
Where is this duplex located?
The property is located at 8301-8303 Belfast St New Orleans, LA.
What is the asking price?
The asking price for this property is $284,000.
What are key features of this property?
This property features: Two separate units at 8301‑8303 Belfast St; Unit 8301: 1‑bedroom, 1‑bath loft; Unit 8303: 3 bedrooms and 2 full bathrooms
