Renovated Duplex with High
For Sale
$385,000
1414 Thalia Street, New Orleans, LA 70130
Newly renovated duplex features high ceilings, arched hallways, and exposed brick, with one unit already rented.
Property Size2,054 SF
Price / SF$187.44
Days on Market260
Property Features for 1414 Thalia Street
General Information
Standard status
Active
Size
2,054 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Additional Details
Multifamily Units
2
Amenities
Central Air
Central
1
4
6
Handicap Interior Prov
Asphalt
Other
Pillar/Post/Pier
Block, Stucco, Vinyl Siding
Porch
Building Details
Year Built
1960
Tenancy
Multi
Listing Agency:
eXp Realty, LLC
Listed By:
Amber Hines · License #995716810
(201) 341-8733
Source:
Compass
Added: Dec 20, 2025
Changed: Aug 8
Last Checked: Jul 21 at 3:30PM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
This beautifully renovated double offers classic New Orleans character paired with modern updates. Interior highlights include high ceilings, arched hallways, and exposed brick, creating a distinctive look throughout. The property is configured as a duplex, with one unit already rented.
Located at 1414 Thalia Street in Uptown New Orleans, the home provides convenient access to Downtown, Tulane, Xavier, and University Medical Center. The public remarks also note views of Five-O-Fore Golf and the new Fox 8 building.
Per the owner’s remarks, there is also an offering of $10,000 toward closing. Schedule a tour to review the layout and current occupancy firsthand.
Located at 1414 Thalia Street in Uptown New Orleans, the home provides convenient access to Downtown, Tulane, Xavier, and University Medical Center. The public remarks also note views of Five-O-Fore Golf and the new Fox 8 building.
Per the owner’s remarks, there is also an offering of $10,000 toward closing. Schedule a tour to review the layout and current occupancy firsthand.
Key Highlights
- Newly renovated duplex with 6 bedrooms and 4 full bathrooms
- One unit is already rented
- Central air and central heating
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
$26,009
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
6.76%
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%
$520,180
$520.2K
Cap Rate 7%
$371,557
$371.6K
Cap Rate 9%
$288,989
$289.0K
Market Conditions
NOI Build-Up for 2,054 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
$40.7K $19.80/SF
− Vacancy
−$3.5K −$1.71/SF
EGI
$37.2K $18.09/SF
− OpEx
−$11.1K −$5.43/SF
NOI
$26.0K $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%
$520,180
Cap Rate 7%
$371,557
Cap Rate 9%
$288,989
Alternative Uses
Best Use
Multifamily LT 5
$371.6K
$325.1K – $433.5K
NOI $26,009 @ 7.0% cap · market cap 6.76%
Second Best
Apartment 5plus
$341.5K
$298.8K – $398.4K
NOI $23,906 @ 7.0% cap · market cap 6.21%
Theoretical Best
Office A
$522.1K
$456.8K – $609.1K
NOI $36,544 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,609
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?
Duplex - Newly renovated duplex features high ceilings, arched hallways, and exposed brick, with one unit already rented.
Where is this duplex located?
The property is located at 1414 Thalia Street New Orleans, LA.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Newly renovated duplex with 6 bedrooms and 4 full bathrooms; One unit is already rented; Central air and central heating
