Maintained Duplex with
For Sale
$529,000
1539 N Prieur St, New Orleans, LA 70116
Separate residences offer flexible layouts and shared covered outdoor space.
Property Size3,347 SF
Price / SF$158.05
Days on Market10
Property Features for 1539 N Prieur St
General Information
Standard status
Active
Size
3,347 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
gated courtyard
porch swing
gas lantern
garage
Building Details
Year Built
1940
Listing Agency:
FQR Realtors
Listed By:
Thomas Beaty · License #995682683
(314) 422-8196
Source:
Dominionplace
Added: Sep 18
Changed: Sep 23
Last Checked: Sep 26 at 9:19AM
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 FQR Realtors
Investment Insights
Based on property information with market context.
This 1940 duplex contains two independent residences with separate addresses and a combined 3,347 SF of living area. Each unit offers 3 bedrooms and 2 baths. The residence at 1539 N Prieur St features Brazilian mahogany floors, crown molding, French doors, solid-wood shutters, an updated kitchen with granite counters and gas cooking, and a 376 SF primary suite with a separate tub and shower. The second residence at 1904 Laharpe includes two no-step entrances, an eat-in kitchen with a quartz island, a flexible guest room or office with a wall bed, and four ductless mini-split/dehumidifier units.
A gated courtyard links both homes and provides covered space with ceiling fans and recessed lighting. The courtyard connects to a garage with windows, A/C, and scored concrete floors that can accommodate parking or other uses described for the space, including a fitness area, studio, workshop, or audio-visual room. The property is in Esplanade Ridge, within walking distance of the French Quarter, City Park, Bayou St. John, Fair Grounds, Marigny, and Treme, with access to I-10.
A gated courtyard links both homes and provides covered space with ceiling fans and recessed lighting. The courtyard connects to a garage with windows, A/C, and scored concrete floors that can accommodate parking or other uses described for the space, including a fitness area, studio, workshop, or audio-visual room. The property is in Esplanade Ridge, within walking distance of the French Quarter, City Park, Bayou St. John, Fair Grounds, Marigny, and Treme, with access to I-10.
Key Highlights
- Two independent residences with separate addresses
- 3,347 SF duplex built in 1940
- Each residence includes 3 bedrooms and 2 baths
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
$42,381
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
8.01%
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%
$847,620
$847.6K
Cap Rate 7%
$605,443
$605.4K
Cap Rate 9%
$470,900
$470.9K
Market Conditions
NOI Build-Up for 3,347 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
$66.3K $19.80/SF
− Vacancy
−$5.7K −$1.71/SF
EGI
$60.5K $18.09/SF
− OpEx
−$18.2K −$5.43/SF
NOI
$42.4K $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%
$847,620
Cap Rate 7%
$605,443
Cap Rate 9%
$470,900
Alternative Uses
Best Use
Multifamily LT 5
$605.4K
$529.8K – $706.4K
NOI $42,381 @ 7.0% cap · market cap 8.01%
Second Best
Apartment 5plus
$556.5K
$486.9K – $649.3K
NOI $38,955 @ 7.0% cap · market cap 7.36%
Theoretical Best
Office A
$850.7K
$744.4K – $992.5K
NOI $59,549 @ 7.0% cap · market cap 11.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,454
Businesses Nearby
Explore this area
Business Placement
Demographics for 70116, LA
10,676
Population
9,620
Households
1.1
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
8,212
Density / Sq Mi
$45,580
Median Household Income
$34,849
Median Earnings
$1,190
Median Rent
$385,100
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?
Duplex - Separate residences offer flexible layouts and shared covered outdoor space.
Where is this duplex located?
The property is located at 1539 N Prieur St New Orleans, LA.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: Two independent residences with separate addresses; 3,347 SF duplex built in 1940; Each residence includes 3 bedrooms and 2 baths
