Historic Greek Revival
For Sale
$889,000
1411 Terpsichore St, New Orleans, LA 70130
Four tenant-ready residences offer separate entrances, private outdoor areas, and a blend of historic detailing with updated interiors.
Property Size4,990 SF
Price / SF$178.16
Days on Market67
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Property Features for 1411 Terpsichore St
General Information
Standard status
Active
Size
4,990 SF
Property subtype
Multi-Family
Building Details
Year Built
1850
Listing Agency:
REVE, REALTORS
Listed By:
Lara Schultz · License #000075293
(504) 338-2587
Source:
Fiorellaavenue
Added: Aug 10
Changed: Oct 15
Last Checked: Oct 15 at 1:08AM
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.
Built in 1850, this 4,990-square-foot quadplex combines Greek Revival character with practical updates across four separate residences. Units range from roughly 1,000 to 1,500 square feet and include individual entrances and outdoor areas. Interior details include high ceilings, antique heart-pine flooring, exposed beams, cypress millwork, transom windows, and ceiling medallions. Two residences have updated kitchens with quartz counters, contemporary cabinetry, and stainless steel appliances. Separate electric meters serve the units, and all four are tenant-ready.
The property is located at 1411 Terpsichore St in New Orleans’ Lower Garden District, near Coliseum Square. St. Charles Avenue streetcar service is one block away, while Magazine Street, Audubon Park, Tulane, and Loyola are within minutes. The property is in Flood Zone X.
The property is located at 1411 Terpsichore St in New Orleans’ Lower Garden District, near Coliseum Square. St. Charles Avenue streetcar service is one block away, while Magazine Street, Audubon Park, Tulane, and Loyola are within minutes. The property is in Flood Zone X.
Key Highlights
- Four‑unit property totaling 4,990 SF
- Built in 1850 with Greek Revival architecture and original interior detailing
- Units range from roughly 1,000–1,500 sq ft
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,186
Cap Rate
7.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,263,720
$1.3M
Cap Rate 7%
$902,657
$902.7K
Cap Rate 9%
$702,067
$702.1K
Market Conditions
NOI Build-Up for 4,990 SF
Gross rent
$98.8K $19.80/SF
− Vacancy
−$8.5K −$1.71/SF
EGI
$90.3K $18.09/SF
− OpEx
−$27.1K −$5.43/SF
NOI
$63.2K $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 Rate 5%
$1,263,720
Cap Rate 7%
$902,657
Cap Rate 9%
$702,067
Alternative Uses
Best Use
Multifamily LT 5
$902.7K
$789.8K – $1.05M
NOI $63,186 @ 7.0% cap · market cap 7.11%
Second Best
Apartment 5plus
$829.7K
$726.0K – $968.0K
NOI $58,078 @ 7.0% cap · market cap 6.53%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,780 @ 7.0% cap · market cap 9.99%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,044
Businesses Nearby
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Business Placement
Demographics for 70130, LA
14,521
Population
10,927
Households
1.3
Avg Household Size
38
Median Age
64%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
6,915
Density / Sq Mi
$82,758
Median Household Income
$52,492
Median Earnings
$1,410
Median Rent
$529,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four tenant-ready residences offer separate entrances, private outdoor areas, and a blend of historic detailing with updated interiors.
Where is this quadplex located?
The property is located at 1411 Terpsichore St New Orleans, LA.
What is the asking price?
The asking price for this property is $889,000.
What are key features of this property?
This property features: Four‑unit property totaling 4,990 SF; Built in 1850 with Greek Revival architecture and original interior detailing; Units range from roughly 1,000–1,500 sq ft
