Renovated Duplex with Off-Street
For Sale
$975,000
1412 ROYAL Street, New Orleans, LA 70116
Multi-Family, Camelback, New Orleans, LA
Property Size2,832 SF
Price / SF$344.28
Days on Market9
Property Features for 1412 ROYAL Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Garage, Off Street
Exterior features
Balcony, Courtyard, Fence
Fencing
Fenced
Lot features
Regular
Subdivision
Marigny
Standard status
Active
APN
1412-ROYALST
Size
2,832 SF
Taxes and HOA fees
Tax Description
1. SQ 155 LOT D OR 8 ROYAL 2. 19X107 2/STORY SGLE W/FR 3. 6/RM S/R AND BASEMENT
Legal Description
1. SQ 155 LOT D OR 8 ROYAL 2. 19X107 2/STORY SGLE W/FR 3. 6/RM S/R AND BASEMENT
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
plantation shutters
granite countertops
stainless-steel appliances
wine cooler
two porches
private courtyard
whole-home generator
roll-down hurricane shutters
water pressure booster pump
metal roof
off-street parking
Building Details
Year built
1923
Floors in Building
3
Number of units
2
Roof type
Metal
Architectural style
Other
Listing Agency:
REVE, REALTORS
(504) 300-0700
Listed By:
Dana Kampovsky
(504) 444-7524
Added: Aug 14
Changed: Aug 19
Last Checked: Aug 22 at 4:06AM
MLS# 2572511
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.
This 2,832-square-foot duplex, built in 1923, combines historic architectural character with updated interior features. The main residence includes wood flooring, high ceilings, plantation shutters, central heating and air conditioning, a kitchen with granite counters and stainless-steel appliances, a wine cooler, two porches, and substantial storage. A metal roof, whole-home generator, hurricane shutters, and water pressure booster pump add functional improvements.
The lower unit was renovated in 2020 and includes one bedroom, one bathroom, laundry, and a private courtyard. The property also provides fenced outdoor space, a balcony, off-street parking, and a garage. Public water service is in place, and the home is within walking distance of the French Quarter and Frenchmen Street in New Orleans’ Marigny Triangle.
The lower unit was renovated in 2020 and includes one bedroom, one bathroom, laundry, and a private courtyard. The property also provides fenced outdoor space, a balcony, off-street parking, and a garage. Public water service is in place, and the home is within walking distance of the French Quarter and Frenchmen Street in New Orleans’ Marigny Triangle.
Key Highlights
- 2,832 SF duplex built in 1923
- Lower unit renovated in 2020 with 1 bedroom, 1 bathroom, laundry, and private courtyard
- Wood floors, high ceilings, plantation shutters, and two porches
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
$35,860
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
3.68%
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%
$717,200
$717.2K
Cap Rate 7%
$512,286
$512.3K
Cap Rate 9%
$398,444
$398.4K
Market Conditions
NOI Build-Up for 2,832 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
$56.1K $19.80/SF
− Vacancy
−$4.8K −$1.71/SF
EGI
$51.2K $18.09/SF
− OpEx
−$15.4K −$5.43/SF
NOI
$35.9K $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%
$717,200
Cap Rate 7%
$512,286
Cap Rate 9%
$398,444
Alternative Uses
Best Use
Multifamily LT 5
$512.3K
$448.3K – $597.7K
NOI $35,860 @ 7.0% cap · market cap 3.68%
Second Best
Apartment 5plus
$470.9K
$412.0K – $549.4K
NOI $32,961 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$719.8K
$629.8K – $839.8K
NOI $50,386 @ 7.0% cap · market cap 5.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,585
Businesses Nearby
Explore this area
Business Placement
Demographics for 70116, LA
10,676
Population
9,620
Households
1.1
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
8,212
Density / Sq Mi
$45,580
Median Household Income
$34,849
Median Earnings
$1,190
Median Rent
$385,100
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 - Historic two-unit property with a renovated lower residence and private courtyard.
Where is this duplex located?
The property is located at 1412 ROYAL Street New Orleans, LA.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 2,832 SF duplex built in 1923; Lower unit renovated in 2020 with 1 bedroom, 1 bathroom, laundry, and private courtyard; Wood floors, high ceilings, plantation shutters, and two porches
