New Construction Duplex with En-Suite
For Sale
$369,000
1337 TUPELO Street, New Orleans, LA 70117
MULTI_FAMILY - New Orleans, LA
Property Size2,462 SF
Price / SF$149.88
Days on Market329
Property Features for 1337 TUPELO Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Driveway
Patio and Porch features
Porch
Exterior features
Balcony, Fence, Porch
Fencing
Fenced
Lot features
Regular
Standard status
Active
APN
558
Size
2,462 SF
Taxes and HOA fees
Tax Description
SQ 558 LOT B PT LOT 10 AND LOT 11 TUPELO 31X111
Legal Description
SQ 558 LOT B PT LOT 10 AND LOT 11 TUPELO 31X111
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2024
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
Christian Shane Properties
(504) 208-5688
Listed By:
Christian Galvin · License #995718884
(504) 208-5688
Added: Sep 18, 2025
Changed: Jun 26
Last Checked: Aug 12 at 8:06AM
MLS# 2522464
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
New construction duplex at 1337 Tupelo Street in New Orleans, offering two separate units. Each unit features three bedrooms with en-suite bathrooms, along with kitchen interiors described as designed with both style and functionality in mind. Additional in-unit convenience includes washer/dryer hookup availability and ample storage space. The upper unit also includes a balcony.
The property is described as located within 15 minutes of multiple colleges, including the University of New Orleans and Nunez. It is also described as minutes from the Bywater and the St. Claude Arts District.
From a tenant-readiness standpoint, the configuration supports roommate or family living with private en-suite baths in every three-bedroom unit. In-unit washer/dryer hookups help reduce the need for off-site laundry. With two complete units in the duplex structure, the layout may appeal to buyers seeking straightforward, owner-occupant or rental use based on the existing two-unit design.
The property is described as located within 15 minutes of multiple colleges, including the University of New Orleans and Nunez. It is also described as minutes from the Bywater and the St. Claude Arts District.
From a tenant-readiness standpoint, the configuration supports roommate or family living with private en-suite baths in every three-bedroom unit. In-unit washer/dryer hookups help reduce the need for off-site laundry. With two complete units in the duplex structure, the layout may appeal to buyers seeking straightforward, owner-occupant or rental use based on the existing two-unit design.
Key Highlights
- New construction built in 2024 with central heating and central air
- Each unit offers 3 bedrooms with en‑suite bathrooms
- Upper unit features a balcony
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
485
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 - Newly built duplex offering two units, each with three bedrooms, en-suite baths, and in-unit washer/dryer hookups.
Where is this duplex located?
The property is located at 1337 TUPELO Street 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: New construction built in 2024 with central heating and central air; Each unit offers 3 bedrooms with en‑suite bathrooms; Upper unit features a balcony
