New Construction Duplex with
For Sale
$369,000
1337 Tupelo St, New Orleans, LA 70117
Two-unit property with three-bedroom layouts, en suite bathrooms, modern kitchens, and in-unit laundry hookups.
Property Size2,462 SF
Price / SF$149.88
Days on Market30
Property Features for 1337 Tupelo St
General Information
Standard status
Active
Size
2,462 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/3BA
Multifamily Units
2
Amenities
in-unit washer/dryer hookups
balcony
Building Details
Year Built
2024
Listing Agency:
Christian Shane Properties
(504) 252-0455
Listed By:
Christian Galvin · License #995718884
Source:
Dominionplace
Added: Aug 3
Changed: Aug 28
Last Checked: Aug 31 at 7:03PM
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 Christian Shane Properties
Investment Insights
Based on property information with market context.
Built in 2024, this duplex contains two residential units, each offering three bedrooms with en suite bathrooms. Both units include updated kitchens, in-unit washer and dryer hookups, and ample storage. The upper unit adds a private balcony, providing an additional outdoor feature within the building’s compact residential layout.
The property is located within 15 minutes of the University of New Orleans and Nunez Community College, with the Bywater and St. Claude Arts District also nearby. The building provides a recently constructed configuration with six total bedrooms, six en suite bathrooms, and separate living spaces across both units.
The property is located within 15 minutes of the University of New Orleans and Nunez Community College, with the Bywater and St. Claude Arts District also nearby. The building provides a recently constructed configuration with six total bedrooms, six en suite bathrooms, and separate living spaces across both units.
Key Highlights
- Duplex built in 2024
- Two units, each with three bedrooms and en suite bathrooms
- 2,462 square feet of property size
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
$31,175
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
8.45%
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%
$623,500
$623.5K
Cap Rate 7%
$445,357
$445.4K
Cap Rate 9%
$346,389
$346.4K
Market Conditions
NOI Build-Up for 2,462 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
$48.7K $19.80/SF
− Vacancy
−$4.2K −$1.71/SF
EGI
$44.5K $18.09/SF
− OpEx
−$13.4K −$5.43/SF
NOI
$31.2K $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%
$623,500
Cap Rate 7%
$445,357
Cap Rate 9%
$346,389
Alternative Uses
Best Use
Multifamily LT 5
$445.4K
$389.7K – $519.6K
NOI $31,175 @ 7.0% cap · market cap 8.45%
Second Best
Apartment 5plus
$409.4K
$358.2K – $477.6K
NOI $28,655 @ 7.0% cap · market cap 7.77%
Theoretical Best
Office A
$625.8K
$547.5K – $730.1K
NOI $43,803 @ 7.0% cap · market cap 11.87%
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
471
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-unit property with three-bedroom layouts, en suite bathrooms, modern kitchens, and in-unit laundry hookups.
Where is this duplex located?
The property is located at 1337 Tupelo St New Orleans, LA.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: Duplex built in 2024; Two units, each with three bedrooms and en suite bathrooms; 2,462 square feet of property size
