New Construction
New
For Sale
$339,000
1435 LESSEPS Street, New Orleans, LA 70117
Multi-Family, Traditional, New Orleans, LA
Property Size2,267 SF
Lot Size0.09 Acres
Price / SF$149.54
Days on Market5
Property Features for 1435 LESSEPS Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Off Street, Driveway
Patio and Porch features
Porch
Exterior features
Fence, Porch
Fencing
Fenced
Lot features
Regular
Standard status
Active
APN
39W309618
Size
2,267 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Description
AS PER TITLE
Legal Description
AS PER TITLE
Utilities
Heating system
Other (Heating), Ductless (Heating), Central
Cooling system
Ductless, Wall Unit(s), Central Air
Water source
Public
Amenities
laundry room
front porch
off-street parking
yard
Building Details
Year built
2023
Floors in Building
1
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
Galiano Realty
(504) 256-6311
Listed By:
Rachel Silvers · License #995694275
(504) 475-4775
Added: Aug 27
Last Checked: Aug 31 at 4:06PM
MLS# 2574310
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.
Completed in 2023, this 2,267-square-foot duplex property includes a primary three-bedroom, two-and-a-half-bath residence and a separate studio efficiency. The main home features an open living and dining arrangement, hardwood flooring, a kitchen with quartz countertops and a waterfall island, a coffee and wine bar nook, a primary suite with soaking tub, double vanity, and separate shower, plus a laundry room and half bath. The studio includes quartz counters, a walk-in closet, and a private bathroom.
Set on 0.0901 acres in New Orleans, the property also offers a front porch, fenced outdoor space, off-street parking, and a driveway. Heating and cooling systems include central and ductless components, with wall-unit cooling also present. Public water service and a shingle roof complete the property profile.
Set on 0.0901 acres in New Orleans, the property also offers a front porch, fenced outdoor space, off-street parking, and a driveway. Heating and cooling systems include central and ductless components, with wall-unit cooling also present. Public water service and a shingle roof complete the property profile.
Key Highlights
- 2023 construction with 2,267 square feet across a primary residence and separate studio
- Main residence includes 3 bedrooms and 2.5 baths
- Studio has quartz counters, walk‑in closet, and private bathroom
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
$28,706
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
8.47%
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%
$574,120
$574.1K
Cap Rate 7%
$410,086
$410.1K
Cap Rate 9%
$318,956
$319.0K
Market Conditions
NOI Build-Up for 2,267 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
$44.9K $19.80/SF
− Vacancy
−$3.9K −$1.71/SF
EGI
$41.0K $18.09/SF
− OpEx
−$12.3K −$5.43/SF
NOI
$28.7K $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%
$574,120
Cap Rate 7%
$410,086
Cap Rate 9%
$318,956
Alternative Uses
Best Use
Multifamily LT 5
$410.1K
$358.8K – $478.4K
NOI $28,706 @ 7.0% cap · market cap 8.47%
Second Best
Apartment 5plus
$376.9K
$329.8K – $439.8K
NOI $26,385 @ 7.0% cap · market cap 7.78%
Theoretical Best
Office A
$576.2K
$504.2K – $672.2K
NOI $40,334 @ 7.0% cap · market cap 11.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
819
Businesses Nearby
Explore this area
Business Placement
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
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 - Two separate living areas combine with updated finishes, a porch, fenced yard, and driveway parking.
Where is this duplex located?
The property is located at 1435 LESSEPS Street New Orleans, LA.
What is the asking price?
The asking price for this property is $339,000.
What are key features of this property?
This property features: 2023 construction with 2,267 square feet across a primary residence and separate studio; Main residence includes 3 bedrooms and 2.5 baths; Studio has quartz counters, walk‑in closet, and private bathroom
