Greek Revival Quadplex with
1411 Terpsichore Street, New Orleans, LA 70130
For Sale
$889,000
Four residences offer separate entrances, private outdoor areas, and in-unit laundry.
Property Size4,990 SF
Lot Size0.11 Acres
Price / SF$178.16
Days on Market39
Property Features for 1411 Terpsichore Street
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Financials
Gross Income
Gross Rent Multiplier
Site & Location
Neighborhood
Public Transit
Utilities to Site
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Tenant in Place
Amenities
private entrance
in-unit laundry
courtyard
Building Details
Building Size
Year Built
Buildings
Units
Construction
Tenancy
Listing Agency:
REVE, REALTORS
(504) 300-0700
Listed By:
Lara G Schultz · License #000075293
(504) 338-2587
Source:
Cypresskeyrealty
Added: Oct 2
Changed: Nov 7
Last Checked: Nov 8 at 2:43PM
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
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Investment Insights
Based on property information with market context.
Built in 1850, this Greek Revival quadplex contains four townhome-style residences totaling 4,990 square feet and seven bedrooms. The mix includes two 1,500-square-foot, two-bedroom units with 1.5 baths, a 1,073-square-foot one-bedroom unit with two baths, and a 995-square-foot, two-bedroom unit with two baths. Each residence has its own entrance, outdoor space, and in-unit laundry. Two homes have updated kitchens with quartz counters, contemporary cabinetry, and stainless steel appliances. A rear courtyard serves the property, and electric service is separately metered. The reported gross rent multiple is 9.7, and the property is in Flood Zone X.
The building is one block from the St. Charles Avenue streetcar. Coliseum Square is nearby, while Magazine Street’s dining and shopping are within walking distance; Tulane and Loyola are a short ride uptown.
The building is one block from the St. Charles Avenue streetcar. Coliseum Square is nearby, while Magazine Street’s dining and shopping are within walking distance; Tulane and Loyola are a short ride uptown.
Key Highlights
- Four townhome‑style residences with seven bedrooms across 4,990 square feet
- Unit mix: two 1,500 sq ft 2BR/1.5BA homes, one 1,073 sq ft 1BR/2BA home, and one 995 sq ft 2BR/2BA home
- Greek Revival architecture; year built 1850
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
Who owns this building?
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Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,044
Businesses Nearby
Explore this area
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
$529,300
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in New Orleans, LA
Properties on Market for Quadplexes in New Orleans
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four residences offer separate entrances, private outdoor areas, and in-unit laundry.
Where is this quadplex located?
The property is located at 1411 Terpsichore Street 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 townhome‑style residences with seven bedrooms across 4,990 square feet; Unit mix: two 1,500 sq ft 2BR/1.5BA homes, one 1,073 sq ft 1BR/2BA home, and one 995 sq ft 2BR/2BA home; Greek Revival architecture; year built 1850
