Four-Unit Historic
New
For Sale
$889,000
1411 TERPSICHORE Street, New Orleans, LA 70130
Multi-Family, New Orleans, LA
Property Size4,990 SF
Lot Size0.11 Acres
Price / SF$178.16
Days on Market5
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
Lot size
0.11 Acres
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
Ductless, Window Unit(s), Central Air, Wall Unit(s)
Water source
Public
Amenities
courtyard
in-unit laundry
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) 338-2587
Added: Oct 2
Last Checked: Oct 6 at 8:06AM
MLS# 2578980
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.
Built in 1850, this four-unit property contains 4,990 square feet across four townhome-style residences, with seven bedrooms in total. The mix includes two 1,500-square-foot, two-bedroom homes with 1.5 baths, one 1,073-square-foot residence with one bedroom and two baths, and one 995-square-foot residence with two bedrooms and two baths. Each unit has a private entrance, outdoor space, and in-unit laundry. Two kitchens have quartz counters, contemporary cabinetry, and stainless steel appliances; the building also retains heart-pine floors, exposed beams, cypress millwork, transom windows, and ceiling medallions. A rear courtyard and separate electric meters serve the property, which sits on a 36-by-128-foot lot in Flood Zone X.
The property is fully leased and has a 9.7 gross rent multiple. Coliseum Square is nearby, and the St. Charles Avenue streetcar is one block away. Magazine Street shops and restaurants are within walking distance; Tulane and Loyola are a short ride uptown.
The property is fully leased and has a 9.7 gross rent multiple. Coliseum Square is nearby, and the St. Charles Avenue streetcar is one block away. Magazine Street shops and restaurants are within walking distance; Tulane and Loyola are a short ride uptown.
Key Highlights
- Four residences totaling 4,990 square feet and seven bedrooms
- Unit mix: two 1,500‑square‑foot 2BR/1.5BA homes, one 1,073‑square‑foot 1BR/2BA, and one 995‑square‑foot 2BR/2BA
- Fully leased property with a 9.7 gross rent multiple
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.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residences feature private entrances, outdoor space, 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 residences totaling 4,990 square feet and seven bedrooms; Unit mix: two 1,500‑square‑foot 2BR/1.5BA homes, one 1,073‑square‑foot 1BR/2BA, and one 995‑square‑foot 2BR/2BA; Fully leased property with a 9.7 gross rent multiple
