Mid-City Double Shotgun
137 S MURAT Street New Orleans, LA 70119
137 S MURAT Street, New Orleans, LA, 70119
$530,000
For Sale
$530,000
MULTI_FAMILY - New Orleans, LA
Property Size2,128 SF
Price / SF$249.06
Days on Market46
Property Features for 137 S MURAT Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Patio and Porch features
- Porch
- Exterior features
- Fence, Porch
- Fencing
- Fenced
- Standard status
- Active
- APN
- 105308616
- Size
- 2,128 SF
Taxes and HOA fees
- Tax Description
- Sq 818 Lot M S Murat & Cleveland 32.8x120 137-139 So Murat
Utilities
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1921
- Floors in Building
- 1
- Number of units
- 1
- Roof type
- Asphalt
- Architectural style
- Craftsman
Listing Agency
REVE, REALTORS
(504) 300-0700
4827 Prytania St, New Orleans, LA
Listed by
Anne Favret · License #995705535
(504) 300-0700
Added: Jun 3 Checked: Jul 18 at 1:06 am
MLS# 2561150
Listing URL
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Mid-City Craftsman double shotgun duplex offers two separate units, each with 2 bedrooms and 1 bathroom. Both interiors have been freshly painted, with updated lighting while preserving original hardwood floors. Historic architectural details appear to be thoughtfully maintained throughout, including doors, mantels, shutters, flooring, brickwork, and other original elements that support the home’s character.
The property is located at 139 S Murat Street in New Orleans, in Mid-City. Public remarks note the duplex is just one block from the Canal Streetcar line, with nearby access to restaurants, parks, and downtown, as well as the amenities Mid-City is known for. Each unit includes its own off-street driveway parking space, which helps reduce daily parking friction for residents and tenants.
For buyers, the layout supports multiple occupancy scenarios, including living in one unit and renting the other, or operating both units as long-term rentals. The combination of updated finishes, preserved historic features, and dedicated off-street parking for each unit provides a practical fit for households looking for flexibility and for investors seeking a duplex structure with straightforward unit parity. Measurements are not guaranteed.
The property is located at 139 S Murat Street in New Orleans, in Mid-City. Public remarks note the duplex is just one block from the Canal Streetcar line, with nearby access to restaurants, parks, and downtown, as well as the amenities Mid-City is known for. Each unit includes its own off-street driveway parking space, which helps reduce daily parking friction for residents and tenants.
For buyers, the layout supports multiple occupancy scenarios, including living in one unit and renting the other, or operating both units as long-term rentals. The combination of updated finishes, preserved historic features, and dedicated off-street parking for each unit provides a practical fit for households looking for flexibility and for investors seeking a duplex structure with straightforward unit parity. Measurements are not guaranteed.
Key Highlights
- 1921 Craftsman double shotgun with preserved original architectural details and original hardwood floors
- Each unit features 2 bedrooms and 1 bath with freshly painted interiors and updated lighting
- Central heating and central air conditioning
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 2-bedroom units with off-street driveway parking make this duplex a flexible owner-occupant or rental option.
Where is this duplex located?
The property is located at 137 S 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: 1921 Craftsman double shotgun with preserved original architectural details and original hardwood floors; Each unit features 2 bedrooms and 1 bath with freshly painted interiors and updated lighting; Central heating and central air conditioning
