Historic Duplex with Flexible
For Sale
$525,000
2473 75 N Rampart St, New Orleans, LA 70117
Two separately metered residences include kitchens, living areas, and an interior connection for combined use.
Property Size2,303 SF
Price / SF$227.96
Days on Market16
Property Features for 2473 75 N Rampart St
General Information
Standard status
Active
Size
2,303 SF
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Amenities
front porch
backyard
composite wood deck
Building Details
Year Built
1875
Construction
Creole Cottage
Listing Agency:
eXp Realty, LLC
(504) 344-0877
Listed By:
Adrienne LaBauve · License #995684424
Source:
Dominionplace
Added: Aug 16
Changed: Aug 29
Last Checked: Aug 30 at 6:51PM
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, LLC
Investment Insights
Based on property information with market context.
Built in 1875, this 2,303-square-foot duplex contains two residences with separate electric meters and one shared water meter. The property offers four bedrooms and two full bathrooms, with an interior connection between units that allows for continued separation or combined occupancy. Character features include hardwood flooring, tall ceilings, fireplace mantels, pocket doors, and a front porch.
The owner’s side includes a double parlor, a 2023-renovated kitchen with granite counters, white cabinetry, and stainless steel appliances, plus an upstairs bedroom. The second residence follows a shotgun-style arrangement with spacious rooms and a kitchen finished with wood cabinetry and tiled counters. Siding, exterior paint, windows, and central HVAC serving the owner’s unit were updated in 2022–2023.
Outdoor space includes a new composite deck at the rear. The property is located in Faubourg Marigny near the Healing Center and within walking distance of Franklin, Pepp’s, Robert’s, Baldwin & Co., restaurants, bars, and live music venues.
The owner’s side includes a double parlor, a 2023-renovated kitchen with granite counters, white cabinetry, and stainless steel appliances, plus an upstairs bedroom. The second residence follows a shotgun-style arrangement with spacious rooms and a kitchen finished with wood cabinetry and tiled counters. Siding, exterior paint, windows, and central HVAC serving the owner’s unit were updated in 2022–2023.
Outdoor space includes a new composite deck at the rear. The property is located in Faubourg Marigny near the Healing Center and within walking distance of Franklin, Pepp’s, Robert’s, Baldwin & Co., restaurants, bars, and live music venues.
Key Highlights
- 2,303 SF duplex built in 1875
- Two units with separate electric meters and one water meter
- Four bedrooms and two full bathrooms
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
$29,162
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
5.55%
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%
$583,240
$583.2K
Cap Rate 7%
$416,600
$416.6K
Cap Rate 9%
$324,022
$324.0K
Market Conditions
NOI Build-Up for 2,303 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
$45.6K $19.80/SF
− Vacancy
−$3.9K −$1.71/SF
EGI
$41.7K $18.09/SF
− OpEx
−$12.5K −$5.43/SF
NOI
$29.2K $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%
$583,240
Cap Rate 7%
$416,600
Cap Rate 9%
$324,022
Alternative Uses
Best Use
Multifamily LT 5
$416.6K
$364.5K – $486.0K
NOI $29,162 @ 7.0% cap · market cap 5.55%
Second Best
Apartment 5plus
$382.9K
$335.1K – $446.7K
NOI $26,804 @ 7.0% cap · market cap 5.11%
Theoretical Best
Office A
$585.3K
$512.2K – $682.9K
NOI $40,974 @ 7.0% cap · market cap 7.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,054
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 - Two separately metered residences include kitchens, living areas, and an interior connection for combined use.
Where is this duplex located?
The property is located at 2473 75 N Rampart St New Orleans, LA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 2,303 SF duplex built in 1875; Two units with separate electric meters and one water meter; Four bedrooms and two full bathrooms
