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    Lower Garden District Fourplex Title is generated by Realmo AI

    1445 SAINT MARY Street, New Orleans, LA 70130

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    For Sale
    $675,000

    MULTI_FAMILY - New Orleans, LA

    Property size:
    4,094 SF
    Price / SF:
    $164/SF
    Added:
    Apr 16, 2026
    Days on Market:
    37
    Last Refresh:
    May 22 at 9:06 pm

    Property Features for 1445 SAINT MARY Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Patio and Porch features
    Porch
    Exterior features
    Balcony, Courtyard, Fence, Porch
    Fencing
    Fenced
    Standard status
    Active
    APN
    1445
    Size
    4,094 SF

    Utilities

    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1920
    Floors in Building
    2
    Number of units
    4
    Roof type
    Shingle
    Architectural style
    Craftsman

    We can help!

    Listing Contact
    Michael Styles
    Michael Styles

    Listing agent Michael Styles License #995690479

    Listing office Keller Williams Realty New Orleans 8601 Leake Ave., New Orleans, LA

    Listing date Apr 16, 2026

    MLS# 2553267 Listing URL

    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.

    HighLights

    • Strong Income Potential: Four units with room for rent growth.
    • Prime Location: Lower Garden District, steps to St. Charles and Magazine.
    • Excellent Condition & Well‑Maintained: Meticulously cared for Craftsman‑style fourplex.
    • Classic New Orleans Character: Features include a covered porch, hardwood floors, and soaring ceilings.
    • Individual Unit Amenities: Each unit has central air/heat, in‑unit washer/dryer, and a private entrance.
    • Priced Below Market Value: Intentionally priced for a quick sale.

    Overview

    Located in the Lower Garden District, this fourplex presents a Craftsman-style property with New Orleans character and income potential. The property features architectural details including a full-width covered porch, hardwood floors, and ceilings. Each of the four units includes central air and heat, in-unit washer and dryers, non-shotgun floor plans, and private entrances. Situated in Flood Zone X, the property is located near the St. Charles Avenue parade route and Magazine Street. The property conveys with long-term tenants. The property size is 4094 square feet.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $576.0K
    NOI $51,840 @ 9.00% cap · cautious / downside scenario
    Moderate
    $740.6K
    NOI $51,840 @ 7.00% cap · market / base-case scenario
    Aggressive
    $1.04M
    NOI $51,840 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $81.1k $19.80
    − Vacancy −$7.0k −$1.71
    EGI $74.1k $18.09
    − OpEx −$22.2k −$5.43
    NOI $51.8k $12.66
    4,094 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $740.6K
    $648.0K – $864.0K (±1% cap)
    NOI $51,840 @ 7.0% cap · market cap 7.68%
    Second Best
    Apartment 5plus
    $680.7K
    $595.6K – $794.2K (±1% cap)
    NOI $47,649 @ 7.0% cap · market cap 7.06%
    Theoretical Best
    Office A
    $1.04M
    $910.5K – $1.21M (±1% cap)
    NOI $72,839 @ 7.0% cap · market cap 10.79%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.076648
    Latitude
    29.93464

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    FAQs

    What type of property is this?
    Quadplex - Fourplex in excellent condition with income potential.
    Where is this quadplex located?
    The property is located at 1445 SAINT MARY Street New Orleans, LA.
    What is the asking price?
    The asking price for this property is $675,000.
    What are key features of this property?
    This property features: Strong Income Potential: Four units with room for rent growth.; Prime Location: Lower Garden District, steps to St. Charles and Magazine.; Excellent Condition & Well‑Maintained: Meticulously cared for Craftsman‑style fourplex.
    (504) 862-0100
    We can help!
    Listing Contact
    Michael Styles
    Michael Styles
    Real Estate License ID: 995690479
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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