Newer Two-Residence
For Sale
$899,000
1419 Esplanade Ave, New Orleans, LA 70116
Two independently functioning residences offer separate entrances, utilities, and off-street parking.
Property Size5,085 SF
Price / SF$176.79
Days on Market10
Property Features for 1419 Esplanade Ave
General Information
Standard status
Active
Size
5,085 SF
Property subtype
Multi-Family
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 4BR/3.5BA, 1 x 3BR/2BA
Multifamily Units
2
Amenities
private brick courtyard
custom pergola
built-in gas grill
Building Details
Year Built
2017
Listing Agency:
eXp Realty, LLC
Listed By:
Kasi Champagne · License #995685330
(504) 715-0115
Source:
Fiorellaavenue
Added: Sep 18
Last Checked: Sep 26 at 12:43PM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
Built in 2017, this duplex property contains two separate residences totaling 5,085 square feet. The front home at 1417 Esplanade includes 3,217 square feet, four bedrooms, and 3.5 baths, while the rear home at 1419 Esplanade provides 1,868 square feet, three bedrooms, and two baths. Each residence has its own entrance and utilities, with off-street parking serving the property.
Interior details include marble countertops, reclaimed heart pine flooring, coffered ceilings, custom lighting, and finished baths. A private brick courtyard connects the homes and includes a pergola and built-in gas grill. The property is situated along Esplanade Avenue near the French Quarter, Bayou St. John, City Park, restaurants, and entertainment.
Interior details include marble countertops, reclaimed heart pine flooring, coffered ceilings, custom lighting, and finished baths. A private brick courtyard connects the homes and includes a pergola and built-in gas grill. The property is situated along Esplanade Avenue near the French Quarter, Bayou St. John, City Park, restaurants, and entertainment.
Key Highlights
- Two residences totaling 5,085 square feet on one lot
- Front residence: 3,217 square feet with 4 bedrooms and 3.5 baths
- Rear residence: 1,868 square feet with 3 bedrooms and 2 baths
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
$64,389
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
7.16%
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%
$1,287,780
$1.3M
Cap Rate 7%
$919,843
$919.8K
Cap Rate 9%
$715,433
$715.4K
Market Conditions
NOI Build-Up for 5,085 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
$100.7K $19.80/SF
− Vacancy
−$8.7K −$1.71/SF
EGI
$92.0K $18.09/SF
− OpEx
−$27.6K −$5.43/SF
NOI
$64.4K $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%
$1,287,780
Cap Rate 7%
$919,843
Cap Rate 9%
$715,433
Alternative Uses
Best Use
Multifamily LT 5
$919.8K
$804.9K – $1.07M
NOI $64,389 @ 7.0% cap · market cap 7.16%
Second Best
Apartment 5plus
$845.5K
$739.8K – $986.4K
NOI $59,183 @ 7.0% cap · market cap 6.58%
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,471 @ 7.0% cap · market cap 10.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,095
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
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Duplex - Two independently functioning residences offer separate entrances, utilities, and off-street parking.
Where is this duplex located?
The property is located at 1419 Esplanade Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Two residences totaling 5,085 square feet on one lot; Front residence: 3,217 square feet with 4 bedrooms and 3.5 baths; Rear residence: 1,868 square feet with 3 bedrooms and 2 baths
