Duplex with Front
For Sale
$210,000
1333-31 Elmira Avenue, New Orleans, LA 70114
Two residential units provide a flexible layout for an owner occupant or rental-focused buyer.
Property Size1,456 SF
Price / SF$144.23
Days on Market220
Property Features for 1333-31 Elmira Avenue
General Information
Standard status
Active
Size
1,456 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
Central Air
Central
1
2
4
Asphalt
Pillar/Post/Pier
Vinyl Siding
Porch
Building Details
Year Built
1937
Listing Agency:
Samantha Bush Real Estate Services LLC
Listed By:
Samantha Bush · License #995692155
(504) 575-8986
Source:
Compass
Added: Jan 26
Changed: Sep 2
Last Checked: Sep 2 at 11:27PM
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 Samantha Bush Real Estate Services LLC
Investment Insights
Based on property information with market context.
This duplex contains 1456 SF arranged as two residential units, with each side offering 2 bedrooms and 1 bathroom. The property includes central air, vinyl siding, a porch, asphalt exterior features, and pillar/post/pier construction. Built in 1937, the building presents a defined two-unit configuration for residential occupancy.
Located at 1333-31 Elmira Avenue in New Orleans, Louisiana, the property is identified within ZIP code 70114. Its separate unit layout supports the option of occupying one side while renting the other, subject to the buyer’s intended use and applicable requirements.
Located at 1333-31 Elmira Avenue in New Orleans, Louisiana, the property is identified within ZIP code 70114. Its separate unit layout supports the option of occupying one side while renting the other, subject to the buyer’s intended use and applicable requirements.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom on each side
- 1456 SF total property size
- Central air included
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
$18,437
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
8.78%
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%
$368,740
$368.7K
Cap Rate 7%
$263,386
$263.4K
Cap Rate 9%
$204,856
$204.9K
Market Conditions
NOI Build-Up for 1,456 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
$28.8K $19.80/SF
− Vacancy
−$2.5K −$1.71/SF
EGI
$26.3K $18.09/SF
− OpEx
−$7.9K −$5.43/SF
NOI
$18.4K $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%
$368,740
Cap Rate 7%
$263,386
Cap Rate 9%
$204,856
Alternative Uses
Best Use
Multifamily LT 5
$263.4K
$230.5K – $307.3K
NOI $18,437 @ 7.0% cap · market cap 8.78%
Second Best
Apartment 5plus
$242.1K
$211.8K – $282.4K
NOI $16,946 @ 7.0% cap · market cap 8.07%
Theoretical Best
Office A
$370.1K
$323.8K – $431.8K
NOI $25,905 @ 7.0% cap · market cap 12.34%
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
419
Businesses Nearby
Explore this area
Business Placement
Demographics for 70114, LA
23,127
Population
11,860
Households
2
Avg Household Size
38
Median Age
26%
College-Educated
86%
High-School Grad
5.1 sq mi
ZIP Area
4,535
Density / Sq Mi
$41,435
Median Household Income
$31,743
Median Earnings
$1,113
Median Rent
$194,100
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 residential units provide a flexible layout for an owner occupant or rental-focused buyer.
Where is this duplex located?
The property is located at 1333-31 Elmira Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom on each side; 1456 SF total property size; Central air included
