Historic Victorian
For Sale
$499,000
137 S Scott St, New Orleans, LA 70119
Partially restored property with inspected system rough-ins and preserved architectural details.
Property Size1,808 SF
Price / SF$275
Days on Market19
Property Features for 137 S Scott St
General Information
Standard status
Active
Size
1,808 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
Exterior needs paint and some restoration
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Amenities
front balcony
rear balcony
deep porch
Building Details
Year Built
1913
Buildings
1
Construction
Victorian
Listing Agency:
Doubleday Realty
Listed By:
Brian Doubleday
Source:
Fiorellaavenue
Added: Aug 14
Changed: Aug 31
Last Checked: Aug 31 at 7:52PM
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 Doubleday Realty
Investment Insights
Based on property information with market context.
Built in 1913, this duplex retains Victorian-era character while undergoing substantial restoration. Structural, electrical, plumbing, and HVAC work has been roughed in and passed city inspection. The foundation has been repaired, framing includes full fire-blocking, and the original weighted windows have been restored. A newer roof, gutters, and downspouts are also in place.
The interior remains unfinished, with insulation and wall closure still required, while the exterior needs paint and additional restoration. Preserved materials include original doors, mantels, brick, and shutters. Front and rear balconies, a deep porch, and the potential for separate meters add to the existing configuration. Preliminary drawings are available. The property is located one block from the Canal Streetcar and near Venezia, Mandina’s, Angelo Brocato’s, and Café Minh.
The interior remains unfinished, with insulation and wall closure still required, while the exterior needs paint and additional restoration. Preserved materials include original doors, mantels, brick, and shutters. Front and rear balconies, a deep porch, and the potential for separate meters add to the existing configuration. Preliminary drawings are available. The property is located one block from the Canal Streetcar and near Venezia, Mandina’s, Angelo Brocato’s, and Café Minh.
Key Highlights
- 1913 Victorian duplex with front and rear balconies and a deep porch
- Structural, electrical, plumbing, and HVAC rough‑ins passed city inspection
- Foundation repaired; framing includes full fire‑blocking
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
$22,894
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
4.59%
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%
$457,880
$457.9K
Cap Rate 7%
$327,057
$327.1K
Cap Rate 9%
$254,378
$254.4K
Market Conditions
NOI Build-Up for 1,808 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
$35.8K $19.80/SF
− Vacancy
−$3.1K −$1.71/SF
EGI
$32.7K $18.09/SF
− OpEx
−$9.8K −$5.43/SF
NOI
$22.9K $12.66/SF
Area
ZIP 70119
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%
$457,880
Cap Rate 7%
$327,057
Cap Rate 9%
$254,378
Alternative Uses
Best Use
Multifamily LT 5
$327.1K
$286.2K – $381.6K
NOI $22,894 @ 7.0% cap · market cap 4.59%
Second Best
Apartment 5plus
$300.6K
$263.0K – $350.7K
NOI $21,043 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$473.1K
$414.0K – $552.0K
NOI $33,117 @ 7.0% cap · market cap 6.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,125
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
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 - Partially restored property with inspected system rough-ins and preserved architectural details.
Where is this duplex located?
The property is located at 137 S Scott St New Orleans, LA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 1913 Victorian duplex with front and rear balconies and a deep porch; Structural, electrical, plumbing, and HVAC rough‑ins passed city inspection; Foundation repaired; framing includes full fire‑blocking
