Duplex with HMC-2
For Sale
$410,000
1705 henriette delille street, New Orleans, LA 70116
Historic duplex with shotgun-style layouts and residential/commercial potential under HMC-2 zoning.
Property Size1,341 SF
Price / SF$305.74
Days on Market897
Property Features for 1705 henriette delille street
General Information
Standard status
Active
Size
1,341 SF
Property subtype
Retail
Zoning
HMC-2
Amenities
Water
Sewer
Building Details
Year Built
1923
Listing Agency:
eXp Realty
(504) 344-0877
Listed By:
Adrienne LaBauve · License #995684424
(504) 344-0877
Source:
Lacdb.resimplifi
Added: Mar 18, 2024
Changed: Aug 29
Last Checked: Aug 31 at 1:01PM
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 eXp Realty
Investment Insights
Based on property information with market context.
Built in 1923, this duplex includes two separate sides, each arranged in a 2-room/1-bath shotgun configuration. Kitchens, bathrooms, and utility rooms are positioned at the rear. Interior details include high ceilings, ceiling fans, original mantels, wood floors, window units, stainless steel appliances, and gas ranges.
The property is located at 1705 Henriette Delille Street in New Orleans, blocks from the Marigny, French Quarter, and Esplanade Avenue. Restaurants, live music, art markets, and Frenchmen Street are nearby. HMC-2 zoning identifies the Historic Marigny/Tremé/Bywater Commercial District and offers residential/commercial potential. Possible uses mentioned for the property include an art gallery or studio, office, retail, salon, or tattoo studio; buyers should independently verify permitted uses.
The property is located at 1705 Henriette Delille Street in New Orleans, blocks from the Marigny, French Quarter, and Esplanade Avenue. Restaurants, live music, art markets, and Frenchmen Street are nearby. HMC-2 zoning identifies the Historic Marigny/Tremé/Bywater Commercial District and offers residential/commercial potential. Possible uses mentioned for the property include an art gallery or studio, office, retail, salon, or tattoo studio; buyers should independently verify permitted uses.
Key Highlights
- Two‑unit duplex with a 2‑room/1‑bath shotgun layout on each side
- HMC‑2 zoning in the Historic Marigny/Tremé/Bywater Commercial District
- Built in 1923 with original mantels and wood floors
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
$16,980
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
4.14%
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%
$339,600
$339.6K
Cap Rate 7%
$242,571
$242.6K
Cap Rate 9%
$188,667
$188.7K
Market Conditions
NOI Build-Up for 1,341 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
$26.6K $19.80/SF
− Vacancy
−$2.3K −$1.71/SF
EGI
$24.3K $18.09/SF
− OpEx
−$7.3K −$5.43/SF
NOI
$17.0K $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%
$339,600
Cap Rate 7%
$242,571
Cap Rate 9%
$188,667
Alternative Uses
Best Use
Multifamily LT 5
$242.6K
$212.3K – $283.0K
NOI $16,980 @ 7.0% cap · market cap 4.14%
Second Best
Apartment 5plus
$223.0K
$195.1K – $260.1K
NOI $15,608 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$340.8K
$298.2K – $397.7K
NOI $23,859 @ 7.0% cap · market cap 5.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,140
Businesses Nearby
Explore this area
Business Placement
Demographics for 70116, LA
10,676
Population
9,620
Households
1.1
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
8,212
Density / Sq Mi
$45,580
Median Household Income
$34,849
Median Earnings
$1,190
Median Rent
$385,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Historic duplex with shotgun-style layouts and residential/commercial potential under HMC-2 zoning.
Where is this duplex located?
The property is located at 1705 henriette delille street New Orleans, LA.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Two‑unit duplex with a 2‑room/1‑bath shotgun layout on each side; HMC‑2 zoning in the Historic Marigny/Tremé/Bywater Commercial District; Built in 1923 with original mantels and wood floors
