Two-Unit Duplex
For Sale
$210,000
1333 31 Elmira Ave, New Orleans, LA 70114
New Orleans duplex with matching two-bedroom, one-bath units and flexible occupancy potential.
Property Size1,456 SF
Price / SF$144.23
Days on Market32
Property Features for 1333 31 Elmira Ave
General Information
Standard status
Active
Size
1,456 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1937
Buildings
1
Listing Agency:
Samantha Bush Real Estate Services LLC
(504) 575-8986
Listed By:
Samantha Bush · License #995692155
Source:
Fiorellaavenue
Added: Aug 1
Changed: Aug 29
Last Checked: Aug 30 at 8:06PM
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 New Orleans duplex contains two separate units, each configured with two bedrooms and one bathroom. The property provides 1,456 square feet of building area and was constructed in 1937, offering a straightforward two-unit layout for residential occupancy or rental use.
Each side follows the same bedroom and bathroom count, giving the building a consistent configuration across both units. Its duplex format supports a range of ownership arrangements, including occupying one unit while leasing the other or operating both as rental units.
Each side follows the same bedroom and bathroom count, giving the building a consistent configuration across both units. Its duplex format supports a range of ownership arrangements, including occupying one unit while leasing the other or operating both as rental units.
Key Highlights
- Two‑unit duplex in New Orleans
- Each unit includes 2 bedrooms and 1 bathroom
- 1,456 square feet of building area
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
Property Profile
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 - New Orleans duplex with matching two-bedroom, one-bath units and flexible occupancy potential.
Where is this duplex located?
The property is located at 1333 31 Elmira Ave 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 in New Orleans; Each unit includes 2 bedrooms and 1 bathroom; 1,456 square feet of building area
