New Construction Two-Unit
For Sale
$449,900
2024 26 Mandeville St, New Orleans, LA 70117
Two light-filled residences feature modern finishes, private outdoor space, and off-street parking near New Orleans destinations.
Property Size2,161 SF
Price / SF$208.19
Days on Market66
Property Features for 2024 26 Mandeville St
General Information
Standard status
Active
Size
2,161 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Additional Details
Furnished
Yes
Amenities
front porch
backyard
pergola
outdoor entertaining space
electric fireplaces
walk-in closets
contemporary kitchens
Building Details
Year Built
2025
Buildings
1
Listing Agency:
Snap Realty
Listed By:
Kara Breithaupt · License #995694143
(504) 444-6400
Source:
Fiorellaavenue
Added: Jul 21
Changed: Sep 11
Last Checked: Sep 22 at 6:30PM
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 Snap Realty
Investment Insights
Based on property information with market context.
Completed in 2025, this duplex contains two residences, each with two bedrooms and two bathrooms. The units feature efficient layouts, contemporary kitchens with quartz countertops and custom cabinetry, finished flooring, walk-in closets, electric fireplaces, and updated interior finishes. Each side also includes a front porch and access to a private, low-maintenance backyard with a pergola and outdoor entertaining area.
The property includes off-street parking and is located near the Marigny, the French Quarter, and St Roch Market, with restaurants, bars, coffee shops, and other local businesses nearby. Both residences can be purchased furnished. The two-unit configuration supports occupying one residence while receiving income from the other, or acquiring the property as a multifamily investment.
The property includes off-street parking and is located near the Marigny, the French Quarter, and St Roch Market, with restaurants, bars, coffee shops, and other local businesses nearby. Both residences can be purchased furnished. The two-unit configuration supports occupying one residence while receiving income from the other, or acquiring the property as a multifamily investment.
Key Highlights
- 2025 construction with two 2‑bedroom, 2‑bathroom residences
- 2,161 property size
- Quartz countertops and custom cabinetry in both kitchens
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
$27,364
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
6.08%
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%
$547,280
$547.3K
Cap Rate 7%
$390,914
$390.9K
Cap Rate 9%
$304,044
$304.0K
Market Conditions
NOI Build-Up for 2,161 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
$42.8K $19.80/SF
− Vacancy
−$3.7K −$1.71/SF
EGI
$39.1K $18.09/SF
− OpEx
−$11.7K −$5.43/SF
NOI
$27.4K $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%
$547,280
Cap Rate 7%
$390,914
Cap Rate 9%
$304,044
Alternative Uses
Best Use
Multifamily LT 5
$390.9K
$342.1K – $456.1K
NOI $27,364 @ 7.0% cap · market cap 6.08%
Second Best
Apartment 5plus
$359.3K
$314.4K – $419.2K
NOI $25,152 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$549.3K
$480.6K – $640.8K
NOI $38,448 @ 7.0% cap · market cap 8.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
682
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
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Cap Rate, Value Estimation, Potential NOI and more
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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 light-filled residences feature modern finishes, private outdoor space, and off-street parking near New Orleans destinations.
Where is this duplex located?
The property is located at 2024 26 Mandeville St New Orleans, LA.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: 2025 construction with two 2‑bedroom, 2‑bathroom residences; 2,161 property size; Quartz countertops and custom cabinetry in both kitchens
