Renovated Duplex with Outdoor
For Sale
$474,900
1937 39 2nd St, New Orleans, LA 70113
Two updated residences offer private outdoor areas, tall ceilings, storage, and in-unit laundry.
Property Size2,500 SF
Price / SF$189.96
Days on Market35
Property Features for 1937 39 2nd St
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Amenities
in-unit laundry
private courtyard
wraparound balcony
Building Details
Year Built
1900
Year Renovated
2021
Buildings
1
Listing Agency:
Marcotte & Co. Real Estate
(504) 439-4900
Listed By:
Danielle Marcotte · License #995691913
Source:
Fiorellaavenue
Added: Jul 29
Changed: Aug 30
Last Checked: Aug 31 at 7:27PM
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 Marcotte & Co. Real Estate
Investment Insights
Based on property information with market context.
Built in 1900 and renovated in 2021, this duplex contains two residences, each with 2 bedrooms and 2 baths. The 2500-square-foot property includes high ceilings, open living areas, substantial storage, and laundry within each unit. Outdoor features are distinct: the lower residence includes a private courtyard, while the upper residence has a wraparound balcony.
The property is located at 1937 39 2nd St in New Orleans’ Faubourg Livaudais area, within the Uptown location identified in the property information. Its two-unit layout supports an owner-occupant arrangement with rental income from the second residence or shared multigenerational occupancy.
The property is located at 1937 39 2nd St in New Orleans’ Faubourg Livaudais area, within the Uptown location identified in the property information. Its two-unit layout supports an owner-occupant arrangement with rental income from the second residence or shared multigenerational occupancy.
Key Highlights
- Two 2‑bedroom, 2‑bath residences within a duplex
- 2500‑square‑foot property renovated in 2021
- Lower unit includes a private courtyard
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
$31,656
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
6.67%
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%
$633,120
$633.1K
Cap Rate 7%
$452,229
$452.2K
Cap Rate 9%
$351,733
$351.7K
Market Conditions
NOI Build-Up for 2,500 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
$49.5K $19.80/SF
− Vacancy
−$4.3K −$1.71/SF
EGI
$45.2K $18.09/SF
− OpEx
−$13.6K −$5.43/SF
NOI
$31.7K $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%
$633,120
Cap Rate 7%
$452,229
Cap Rate 9%
$351,733
Alternative Uses
Best Use
Multifamily LT 5
$452.2K
$395.7K – $527.6K
NOI $31,656 @ 7.0% cap · market cap 6.67%
Second Best
Apartment 5plus
$415.7K
$363.7K – $485.0K
NOI $29,097 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$635.4K
$556.0K – $741.3K
NOI $44,479 @ 7.0% cap · market cap 9.37%
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
2,431
Businesses Nearby
Explore this area
Business Placement
Demographics for 70113, LA
8,569
Population
5,512
Households
1.6
Avg Household Size
37
Median Age
27%
College-Educated
74%
High-School Grad
0.9 sq mi
ZIP Area
9,521
Density / Sq Mi
$36,897
Median Household Income
$31,126
Median Earnings
$960
Median Rent
$258,500
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 updated residences offer private outdoor areas, tall ceilings, storage, and in-unit laundry.
Where is this duplex located?
The property is located at 1937 39 2nd St New Orleans, LA.
What is the asking price?
The asking price for this property is $474,900.
What are key features of this property?
This property features: Two 2‑bedroom, 2‑bath residences within a duplex; 2500‑square‑foot property renovated in 2021; Lower unit includes a private courtyard
