Contemporary Duplex with
For Sale
$350,000
2472 74 Vienna St, New Orleans, LA 70122
Two separately metered residences include in-unit laundry, storage, and flexible occupancy for an owner-occupant.
Property Size2,595 SF
Price / SF$134.87
Days on Market17
Property Features for 2472 74 Vienna St
General Information
Standard status
Active
Size
2,595 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
in-unit laundry
generous storage
off-street parking
Building Details
Year Built
2015
Construction
contemporary
Listing Agency:
REVE, REALTORS
(504) 220-8558
Listed By:
Celeste Marshall · License #995686000
Source:
Dominionplace
Added: Aug 16
Changed: Aug 30
Last Checked: Aug 31 at 7:51PM
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 REVE, REALTORS
Investment Insights
Based on property information with market context.
Built in 2015, this 2,595-square-foot duplex contains two 3-bedroom, 2-bath residences with distinct bedroom arrangements. Each unit includes in-unit laundry, substantial storage, and access to off-street parking. Separate electric and water meters support independent utility management between the residences.
One unit has been freshly painted and is ready for occupancy, while the other is leased and producing rental income. The structure is raised approximately seven feet above grade. The property is situated in the Milneburg/Gentilly area near the lakefront corridor, UNO, and major commuter routes, with an address at 2472 74 Vienna St in New Orleans.
One unit has been freshly painted and is ready for occupancy, while the other is leased and producing rental income. The structure is raised approximately seven feet above grade. The property is situated in the Milneburg/Gentilly area near the lakefront corridor, UNO, and major commuter routes, with an address at 2472 74 Vienna St in New Orleans.
Key Highlights
- Two 3‑bedroom, 2‑bath units within a 2,595‑square‑foot duplex
- Built in 2015 with contemporary construction
- One unit is leased; the other has been freshly painted and is move‑in ready
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
$26,885
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
7.68%
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%
$537,700
$537.7K
Cap Rate 7%
$384,071
$384.1K
Cap Rate 9%
$298,722
$298.7K
Market Conditions
NOI Build-Up for 2,595 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
$42.0K $16.20/SF
− Vacancy
−$3.6K −$1.40/SF
EGI
$38.4K $14.80/SF
− OpEx
−$11.5K −$4.44/SF
NOI
$26.9K $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%
$537,700
Cap Rate 7%
$384,071
Cap Rate 9%
$298,722
Alternative Uses
Best Use
Multifamily LT 5
$384.1K
$336.1K – $448.1K
NOI $26,885 @ 7.0% cap · market cap 7.68%
Second Best
Apartment 5plus
$333.6K
$291.9K – $389.2K
NOI $23,353 @ 7.0% cap · market cap 6.67%
Theoretical Best
Office A
$679.0K
$594.2K – $792.2K
NOI $47,532 @ 7.0% cap · market cap 13.58%
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
404
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two separately metered residences include in-unit laundry, storage, and flexible occupancy for an owner-occupant.
Where is this duplex located?
The property is located at 2472 74 Vienna St New Orleans, LA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two 3‑bedroom, 2‑bath units within a 2,595‑square‑foot duplex; Built in 2015 with contemporary construction; One unit is leased; the other has been freshly painted and is move‑in ready
