Duplex with Separate
For Sale
$315,000
411 13 S Hennessey St, New Orleans, LA 70119
Traditional duplex layout with hardwood floors, private outdoor areas, and off-street driveway parking.
Property Size2,027 SF
Price / SF$155.40
Days on Market29
Property Features for 411 13 S Hennessey St
General Information
Standard status
Active
Size
2,027 SF
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Amenities
hardwood floors
tall ceilings
front porch
backyard
separately metered utilities
driveway parking
Building Details
Year Built
1973
Listing Agency:
Crane Realtors
(504) 210-2014
Listed By:
Aaron Dare · License #995681183
Source:
Dominionplace
Added: Aug 4
Changed: Aug 31
Last Checked: Aug 30 at 8:02PM
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 Crane Realtors
Investment Insights
Based on property information with market context.
This duplex contains 2,027 square feet and was built in 1973. The interior features hardwood flooring across the living areas, tall ceilings, and a traditional arrangement with a straightforward connection between rooms. A front porch adds exterior space, while the divided backyard creates separate outdoor areas for the two units. The roof was replaced in 2022.
Water, gas, and electric service are separately metered, allowing utilities to be paid by tenants. A driveway provides off-street parking on the 411 side. The property is in Mid-City, just off Banks Street, within a walkable corridor surrounded by restaurants, coffee shops, and neighborhood establishments.
Water, gas, and electric service are separately metered, allowing utilities to be paid by tenants. A driveway provides off-street parking on the 411 side. The property is in Mid-City, just off Banks Street, within a walkable corridor surrounded by restaurants, coffee shops, and neighborhood establishments.
Key Highlights
- 2,027‑square‑foot duplex built in 1973
- New roof installed in 2022
- Water, gas & electric separately metered
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
$25,667
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
8.15%
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%
$513,340
$513.3K
Cap Rate 7%
$366,671
$366.7K
Cap Rate 9%
$285,189
$285.2K
Market Conditions
NOI Build-Up for 2,027 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
$40.1K $19.80/SF
− Vacancy
−$3.5K −$1.71/SF
EGI
$36.7K $18.09/SF
− OpEx
−$11.0K −$5.43/SF
NOI
$25.7K $12.66/SF
Area
ZIP 70119
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%
$513,340
Cap Rate 7%
$366,671
Cap Rate 9%
$285,189
Alternative Uses
Best Use
Multifamily LT 5
$366.7K
$320.8K – $427.8K
NOI $25,667 @ 7.0% cap · market cap 8.15%
Second Best
Apartment 5plus
$337.0K
$294.9K – $393.2K
NOI $23,592 @ 7.0% cap · market cap 7.49%
Theoretical Best
Office A
$530.4K
$464.1K – $618.8K
NOI $37,128 @ 7.0% cap · market cap 11.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,730
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
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 - Traditional duplex layout with hardwood floors, private outdoor areas, and off-street driveway parking.
Where is this duplex located?
The property is located at 411 13 S Hennessey St New Orleans, LA.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 2,027‑square‑foot duplex built in 1973; New roof installed in 2022; Water, gas & electric separately metered
