Renovated Duplex with Private
For Sale
$390,000
4781 Eastern Street, New Orleans, LA 70122
Two residential units offer updated interiors, separate outdoor areas, and covered parking.
Property Size2,442 SF
Price / SF$159.71
Days on Market503
Property Features for 4781 Eastern Street
General Information
Standard status
Active
Size
2,442 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
private yard
covered carport/patio
fenced driveway
Central Air
Central
1
4
5
In Units
Asphalt
Other
2
Pillar/Post/Pier
Building Details
Year Built
1972
Listing Agency:
The Pellerin Group NOLA LLC
Listed By:
Latoya Robinson · License #995715997
(504) 914-2043
Source:
Compass
Added: Apr 19, 2025
Changed: Aug 31
Last Checked: Aug 30 at 8:39AM
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 The Pellerin Group NOLA LLC
Investment Insights
Based on property information with market context.
This duplex contains two renovated residential units with open layouts and updated finishes. The larger unit includes 3 bedrooms, 2 bathrooms, an updated kitchen, and access to a large private yard with a covered carport and patio. The second unit provides 2 bedrooms and 2 bathrooms, along with its own street entrance, private yard, and fenced driveway. Central air is included, and both units feature modern interior improvements.
Built in 1972, the property is located on Eastern Street in New Orleans’ Gentilly Terrace area. Shopping, interstates, and the lakefront are within short driving distances, adding convenient access to surrounding amenities and transportation routes.
Built in 1972, the property is located on Eastern Street in New Orleans’ Gentilly Terrace area. Shopping, interstates, and the lakefront are within short driving distances, adding convenient access to surrounding amenities and transportation routes.
Key Highlights
- Renovated duplex with two residential units
- Unit One: 3 bedrooms, 2 bathrooms, open layout, and updated kitchen
- Unit Two: 2 bedrooms, 2 bathrooms, private street entrance, and fenced driveway
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
$25,300
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
6.49%
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%
$506,000
$506.0K
Cap Rate 7%
$361,429
$361.4K
Cap Rate 9%
$281,111
$281.1K
Market Conditions
NOI Build-Up for 2,442 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
$39.6K $16.20/SF
− Vacancy
−$3.4K −$1.40/SF
EGI
$36.1K $14.80/SF
− OpEx
−$10.8K −$4.44/SF
NOI
$25.3K $10.36/SF
Area
ZIP 70122
Vacancy
8.64%
Lease Rate
$16.20 /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%
$506,000
Cap Rate 7%
$361,429
Cap Rate 9%
$281,111
Alternative Uses
Best Use
Multifamily LT 5
$361.4K
$316.3K – $421.7K
NOI $25,300 @ 7.0% cap · market cap 6.49%
Second Best
Apartment 5plus
$313.9K
$274.7K – $366.3K
NOI $21,976 @ 7.0% cap · market cap 5.63%
Theoretical Best
Office A
$639.0K
$559.1K – $745.5K
NOI $44,730 @ 7.0% cap · market cap 11.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
446
Businesses Nearby
Explore this area
Business Placement
Demographics for 70122, LA
34,986
Population
17,131
Households
2
Avg Household Size
39
Median Age
37%
College-Educated
89%
High-School Grad
6.3 sq mi
ZIP Area
5,553
Density / Sq Mi
$47,613
Median Household Income
$38,248
Median Earnings
$1,196
Median Rent
$274,700
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 residential units offer updated interiors, separate outdoor areas, and covered parking.
Where is this duplex located?
The property is located at 4781 Eastern Street New Orleans, LA.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Renovated duplex with two residential units; Unit One: 3 bedrooms, 2 bathrooms, open layout, and updated kitchen; Unit Two: 2 bedrooms, 2 bathrooms, private street entrance, and fenced driveway
