Two-Unit Duplex with Separate
For Sale
$400,000
2130 Robert St, New Orleans, LA 70115
Each residence occupies a full floor and includes distinct living, dining, kitchen, and sleeping areas.
Property Size3,470 SF
Price / SF$115.27
Days on Market32
Property Features for 2130 Robert St
General Information
Standard status
Active
Size
3,470 SF
Property subtype
Multi-Family
Building Details
Year Built
1940
Listing Agency:
REVE, REALTORS
(504) 493-9770
Listed By:
Zachary Russell
Source:
Dominionplace
Added: Aug 1
Changed: Aug 31
Last Checked: Aug 31 at 6:47PM
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 REVE, REALTORS
Investment Insights
Based on property information with market context.
This 1940-built duplex contains two separately metered residences totaling 3,470 square feet. Each unit occupies its own floor and offers a sunroom, living room, dining room, kitchen, three bedrooms, and one bathroom. The upper residence also includes a butler’s pantry and dedicated laundry room, while the lower unit has a screened porch and a bathroom configured for a stackable washer and dryer. Hardwood flooring extends through the rooms, including beneath the bedroom carpeting, and the first-floor kitchen features ceiling-height custom wood cabinetry and slate flooring.
The property includes separate entrances, a driveway, and a substantial rear patio. Recent work includes foundation repairs completed in 2025, water heaters installed in 2025 and 2021, and 2026 plumbing, sewer-line, and gas-line updates. The lower unit measures 1,735 square feet including its screened porch; the upper unit is also listed at 1,735 square feet with the porch and 1,531 square feet without it.
The property includes separate entrances, a driveway, and a substantial rear patio. Recent work includes foundation repairs completed in 2025, water heaters installed in 2025 and 2021, and 2026 plumbing, sewer-line, and gas-line updates. The lower unit measures 1,735 square feet including its screened porch; the upper unit is also listed at 1,735 square feet with the porch and 1,531 square feet without it.
Key Highlights
- Two separately metered units with separate entrances
- 3,470 total square feet in a 1940‑built duplex
- Each unit includes 3 bedrooms and 1 bathroom
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
$29,825
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
7.46%
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%
$596,500
$596.5K
Cap Rate 7%
$426,071
$426.1K
Cap Rate 9%
$331,389
$331.4K
Market Conditions
NOI Build-Up for 3,470 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
$46.6K $13.44/SF
− Vacancy
−$4.0K −$1.16/SF
EGI
$42.6K $12.28/SF
− OpEx
−$12.8K −$3.68/SF
NOI
$29.8K $8.60/SF
Area
ZIP 70115
Vacancy
8.64%
Lease Rate
$13.44 /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%
$596,500
Cap Rate 7%
$426,071
Cap Rate 9%
$331,389
Alternative Uses
Best Use
Multifamily LT 5
$426.1K
$372.8K – $497.1K
NOI $29,825 @ 7.0% cap · market cap 7.46%
Second Best
Apartment 5plus
$377.7K
$330.5K – $440.7K
NOI $26,439 @ 7.0% cap · market cap 6.61%
Theoretical Best
Office A
$915.5K
$801.1K – $1.07M
NOI $64,084 @ 7.0% cap · market cap 16.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,612
Businesses Nearby
Explore this area
Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
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 - Each residence occupies a full floor and includes distinct living, dining, kitchen, and sleeping areas.
Where is this duplex located?
The property is located at 2130 Robert St New Orleans, LA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Two separately metered units with separate entrances; 3,470 total square feet in a 1940‑built duplex; Each unit includes 3 bedrooms and 1 bathroom
