Four-Unit Quadplex with Separate
For Sale
$889,000
1411 TERPSICHORE Street, New Orleans, LA 70130
MULTI_FAMILY - New Orleans, LA
Property Size4,990 SF
Price / SF$178.16
Days on Market118
Property Features for 1411 TERPSICHORE Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Patio and Porch features
Porch
Exterior features
Balcony, Courtyard, Porch
Lot features
Regular
Subdivision
Lower Garden Distric
Standard status
Active
APN
101105512
Size
4,990 SF
Taxes and HOA fees
Tax Description
1. SQ 193 LOT 9 TERPSICHORE ST 2. 36X128 3. 1411 TERPISCHORE ST
Legal Description
1. SQ 193 LOT 9 TERPSICHORE ST 2. 36X128 3. 1411 TERPISCHORE ST
Utilities
Heating system
Ductless (Heating), Other (Heating), Central
Cooling system
Central Air, Ductless, Window Unit(s), Wall Unit(s)
Water source
Public
Building Details
Year built
1850
Floors in Building
2
Number of units
4
Roof type
Shingle
Listing Agency:
REVE, REALTORS
(504) 300-0700
Listed By:
Lara Schultz · License #000075293
(504) 300-0700
Added: Apr 18
Changed: Aug 3
Last Checked: Aug 13 at 7:06PM
MLS# 2553725
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.
Four-unit quadplex with separate entrances and outdoor spaces, built in 1850. The property totals 4,990 SF and includes four spacious units with layouts described as townhome-like. Interior features noted include soaring high ceilings, antique heart-pine floors, exposed beams, cypress millwork, original transom windows, and ceiling medallions. Two of the units are recently renovated with new kitchens featuring quartz countertops, contemporary cabinetry, and stainless appliances. Heating and cooling include a mix of central, ductless, and other systems, with window and wall units in addition to central air. Flood Zone X is indicated, and utilities are set up with separate electric meters.
The building is described as historic Greek Revival architecture, positioned on the edge of historic Coliseum Square in the Lower Garden District. It is listed as one block from the St. Charles Avenue streetcar. Water service is public and the roof is described as shingle.
Exterior features include a balcony, courtyard, and porch, supporting the outdoor space included with each unit’s entry setup.
The building is described as historic Greek Revival architecture, positioned on the edge of historic Coliseum Square in the Lower Garden District. It is listed as one block from the St. Charles Avenue streetcar. Water service is public and the roof is described as shingle.
Exterior features include a balcony, courtyard, and porch, supporting the outdoor space included with each unit’s entry setup.
Key Highlights
- 4,990 SF four‑unit quadplex built in 1850
- Flood Zone X
- Separate electric meters
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
$63,186
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
7.11%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Historic four-unit quadplex built in 1850 with Flood Zone X and separate electric meters.
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: 4,990 SF four‑unit quadplex built in 1850; Flood Zone X; Separate electric meters
