Mid-City Double Shotgun
137-39 South Murat Street New Orleans, LA 70119
137-39 South Murat Street, New Orleans, LA, 70119
$530,000
For Sale
$530,000
Two updated units offer two bedrooms each and off-street driveway parking for convenient, flexible residential income.
Property Size2,128 SF
Price / SF$249.06
Days on Market65
Property Features for 137-39 South Murat Street
General Information
- Standard status
- Active
- Size
- 2,128 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1921
Listing agency
REVE, REALTORS
(504) 390-2335
Listed by
Anne Favret · License #995705535
(504) 390-2335
Source
Compass
Added: May 19 Updated: Jul 10 at 1:52PM Checked: Jul 22 at 9:16AM
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.
This Mid-City Craftsman double shotgun duplex provides two separate residences, each featuring two bedrooms and one bath. The interiors have been freshly painted, with updated lighting and original hardwood floors throughout. Historic architectural elements, including doors, mantels, shutters, flooring, brickwork, and other period details, have been preserved, giving the property a consistent character inside each unit.
The property is located in Mid-City and is just one block from the Canal Streetcar line, supporting easy access to nearby dining, parks, and downtown. With its South Murat Street address, the duplex is positioned for tenants who want proximity to key day-to-day destinations.
Each unit includes its own off-street driveway parking space, a practical feature that can matter for residents and renters alike. The duplex layout supports a variety of owner-occupant and landlord scenarios, including living in one unit while renting the other, or operating both units as long-term rentals. The measurements are not guaranteed, and interested parties should confirm all details during due diligence.
The property is located in Mid-City and is just one block from the Canal Streetcar line, supporting easy access to nearby dining, parks, and downtown. With its South Murat Street address, the duplex is positioned for tenants who want proximity to key day-to-day destinations.
Each unit includes its own off-street driveway parking space, a practical feature that can matter for residents and renters alike. The duplex layout supports a variety of owner-occupant and landlord scenarios, including living in one unit while renting the other, or operating both units as long-term rentals. The measurements are not guaranteed, and interested parties should confirm all details during due diligence.
Key Highlights
- Double shotgun duplex built in 1921, featuring 2 full baths and 4 total bedrooms across two units
- Each unit has 2 bedrooms and 1 bath
- Central heating and central air
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $42.1k | $19.80 |
| − Vacancy | −$3.6k | −$1.71 |
| EGI | $38.5k | $18.09 |
| − OpEx | −$11.5k | −$5.43 |
| NOI | $26.9k | $12.66 |
2,128 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$384.9K
$336.8K – $449.1K
NOI $26,946 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$353.8K
$309.6K – $412.8K
NOI $24,767 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$556.8K
$487.2K – $649.6K
NOI $38,978 @ 7.0% cap · market cap 7.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Two updated units offer two bedrooms each and off-street driveway parking for convenient, flexible residential income.
Where is this duplex located?
The property is located at 137-39 South Murat Street New Orleans, LA.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: Double shotgun duplex built in 1921, featuring 2 full baths and 4 total bedrooms across two units; Each unit has 2 bedrooms and 1 bath; Central heating and central air
