New Construction Duplex with
For Sale
$1,599,000
2412 N Rampart St, New Orleans, LA 70117
Flexible duplex with a spacious owner residence, separate apartment, elevator, garage, and private backyard pool.
Property Size3,891 SF
Lot Size0.09 Acres
Price / SF$410.95
Days on Market26
Property Features for 2412 N Rampart St
General Information
Standard status
Active
Size
3,891 SF
Total Parking Spaces
2
Elevators
Yes
Lot size
0.09 Acres
Property subtype
Multi-Family
Amenities
ADA-friendly features
whole house water filtration system
whole-home natural gas generator
swimming pool
terraces and balconies
laundry centers
soundproofing between all units
Building Details
Year Built
2024
Listing Agency:
Keller Williams Realty New Orleans
(504) 231-2004
Listed By:
Chris Smith · License #09641
Source:
Dominionplace
Added: Aug 7
Changed: Aug 31
Last Checked: Aug 31 at 7:20PM
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 New Orleans
Investment Insights
Based on property information with market context.
Completed in 2024, this 3,891-square-foot duplex combines a large owner residence with a separate legal apartment. The primary residence includes five bedrooms and four full baths, along with an integrated one-bedroom, one-bath guest suite that can support extended household use, visiting guests, or private workspace. A chef’s kitchen, hardwood flooring, multiple laundry centers, elevator, ADA-friendly features, attached two-car garage, water filtration system, and natural gas generator serving the owner’s residence add practical functionality. The property also includes a new in-ground pool with heater and chiller, a private backyard, and multiple terraces and balconies.
Set on an oversized 30' Wide x 127' Deep lot in the X Flood Zone, the property is located at 2412 N Rampart St in New Orleans. Frenchmen Street is three blocks away, with Hotel Peter & Paul, The Elysian Bar, Who Dat Coffee Cafe, Robert Fresh Market, SukhoThai, Ruby Slipper, and Ayu Bakehouse nearby. Balconies and terraces provide views toward Saint Peter & Paul Church, the Greater New Orleans Bridge, and the downtown skyline.
Set on an oversized 30' Wide x 127' Deep lot in the X Flood Zone, the property is located at 2412 N Rampart St in New Orleans. Frenchmen Street is three blocks away, with Hotel Peter & Paul, The Elysian Bar, Who Dat Coffee Cafe, Robert Fresh Market, SukhoThai, Ruby Slipper, and Ayu Bakehouse nearby. Balconies and terraces provide views toward Saint Peter & Paul Church, the Greater New Orleans Bridge, and the downtown skyline.
Key Highlights
- 2024 construction with 3,891 SF of total property size
- Owner residence offers 5 bedrooms, 4 full baths, and an integrated 1‑bedroom, 1‑bath guest suite
- Separate legal 1‑bedroom, 1‑bath apartment
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
$49,270
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
3.08%
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%
$985,400
$985.4K
Cap Rate 7%
$703,857
$703.9K
Cap Rate 9%
$547,444
$547.4K
Market Conditions
NOI Build-Up for 3,891 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
$77.0K $19.80/SF
− Vacancy
−$6.7K −$1.71/SF
EGI
$70.4K $18.09/SF
− OpEx
−$21.1K −$5.43/SF
NOI
$49.3K $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%
$985,400
Cap Rate 7%
$703,857
Cap Rate 9%
$547,444
Alternative Uses
Best Use
Multifamily LT 5
$703.9K
$615.9K – $821.2K
NOI $49,270 @ 7.0% cap · market cap 3.08%
Second Best
Apartment 5plus
$647.0K
$566.1K – $754.8K
NOI $45,287 @ 7.0% cap · market cap 2.83%
Theoretical Best
Office A
$989.0K
$865.3K – $1.15M
NOI $69,227 @ 7.0% cap · market cap 4.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,240
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 - Flexible duplex with a spacious owner residence, separate apartment, elevator, garage, and private backyard pool.
Where is this duplex located?
The property is located at 2412 N Rampart St New Orleans, LA.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: 2024 construction with 3,891 SF of total property size; Owner residence offers 5 bedrooms, 4 full baths, and an integrated 1‑bedroom, 1‑bath guest suite; Separate legal 1‑bedroom, 1‑bath apartment
