Triplex with Front
New
For Sale
$580,000
2704 Burgundy Street, New Orleans, LA 70117
Three-unit income property with varied floor plans and multiple recent repairs.
Property Size1,980 SF
Price / SF$292.93
Days on Market2
Property Features for 2704 Burgundy Street
General Information
Standard status
Active
Size
1,980 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
3
Amenities
hardwood floors
tall ceilings
traditional shutters
front porch
Building Details
Year Built
1873
Listing Agency:
Keller Williams Realty New Orleans
Listed By:
Nayelly Barrios · License #BARRNAYE
(956) 458-5449
Source:
Thepuckettteam
Added: Sep 9
Last Checked: Sep 9 at 3:31PM
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 Keller Williams Realty New Orleans
Investment Insights
Based on property information with market context.
Built in 1873, this New Orleans triplex contains 1,980 square feet arranged as two 1-bedroom/1-bath units and one 2-bedroom/1-bath unit. The property includes hardwood floors, tall ceilings, traditional shutters, and a front porch. Recent work includes new water heaters, refrigerators, ranges, a microwave, kitchen sink, counter, shelving, and plumbing improvements in the front and middle units. New mini-split systems were installed in the front and middle units, while the rear unit received balcony support remediation, copper pipe reinforcement, refreshed kitchen and living room ceilings, and new paint throughout.
The property is located at 2704 Burgundy Street in New Orleans’ Marigny neighborhood. The French Quarter, Mississippi River, and Crescent Park are nearby, along with neighborhood restaurants, cafés, bars, and art venues. The unit mix supports continued rental use or an owner-occupant arrangement with additional units.
The property is located at 2704 Burgundy Street in New Orleans’ Marigny neighborhood. The French Quarter, Mississippi River, and Crescent Park are nearby, along with neighborhood restaurants, cafés, bars, and art venues. The unit mix supports continued rental use or an owner-occupant arrangement with additional units.
Key Highlights
- Triplex with two 1‑bedroom/1‑bath units and one 2‑bedroom/1‑bath unit
- 1,980‑square‑foot property built in 1873
- Front porch, hardwood floors, tall ceilings, and traditional shutters
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
$25,072
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
4.32%
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%
$501,440
$501.4K
Cap Rate 7%
$358,171
$358.2K
Cap Rate 9%
$278,578
$278.6K
Market Conditions
NOI Build-Up for 1,980 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
$39.2K $19.80/SF
− Vacancy
−$3.4K −$1.71/SF
EGI
$35.8K $18.09/SF
− OpEx
−$10.7K −$5.43/SF
NOI
$25.1K $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%
$501,440
Cap Rate 7%
$358,171
Cap Rate 9%
$278,578
Alternative Uses
Best Use
Multifamily LT 5
$358.2K
$313.4K – $417.9K
NOI $25,072 @ 7.0% cap · market cap 4.32%
Second Best
Apartment 5plus
$329.2K
$288.1K – $384.1K
NOI $23,045 @ 7.0% cap · market cap 3.97%
Theoretical Best
Office A
$503.3K
$440.4K – $587.1K
NOI $35,228 @ 7.0% cap · market cap 6.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,196
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit income property with varied floor plans and multiple recent repairs.
Where is this triplex located?
The property is located at 2704 Burgundy Street New Orleans, LA.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: Triplex with two 1‑bedroom/1‑bath units and one 2‑bedroom/1‑bath unit; 1,980‑square‑foot property built in 1873; Front porch, hardwood floors, tall ceilings, and traditional shutters
