Arts and Crafts Duplex with
For Sale
$875,000
1452-54 Verna Court, New Orleans, LA 70119
Two-unit property with historic architectural details, an updated upper-level bath, and covered outdoor space.
Property Size2,533 SF
Price / SF$345.44
Days on Market173
Property Features for 1452-54 Verna Court
General Information
Standard status
Active
Size
2,533 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Additional Details
Multifamily Units
2
Amenities
Central Air
Central
2
3
4
Inside
Asphalt
Other
Balcony
Pillar/Post/Pier
Wood Siding
Building Details
Year Built
1927
Buildings
1
Construction
Arts and Crafts
Listing Agency:
REVE, REALTORS
(504) 338-2587
Listed By:
Lara Schultz · License #000075293
(504) 338-2587
Source:
Compass
Added: Mar 13
Changed: Aug 31
Last Checked: Aug 30 at 11:53PM
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 REVE, REALTORS
Investment Insights
Based on property information with market context.
This 1927 Arts and Crafts duplex contains 2,533 square feet across two units. Original cypress molding, grand fireplaces, antique heart pine floors, and 12-foot ceilings preserve the character of the home. The upper unit includes a foyer, primary suite with double closets, updated bath, chef’s kitchen, living area, and two bedrooms with access to a second-floor balcony. The lower unit offers substantial storage, a kitchen with brick flooring, and a covered rear patio.
Located at 1452-54 Verna Court, the property sits on a street that terminates at the Fairgrounds, home to Jazz Fest. Restaurants, grocery stores, Bayou St. John, and the New Orleans Museum of Art are all identified nearby. The roof was replaced in 2021, and the property is in an X Flood Zone. The layout also allows for customization or conversion to a single-family residence.
Located at 1452-54 Verna Court, the property sits on a street that terminates at the Fairgrounds, home to Jazz Fest. Restaurants, grocery stores, Bayou St. John, and the New Orleans Museum of Art are all identified nearby. The roof was replaced in 2021, and the property is in an X Flood Zone. The layout also allows for customization or conversion to a single-family residence.
Key Highlights
- 2,533‑square‑foot duplex built in 1927
- 12‑foot ceilings, cypress molding, grand fireplaces, and antique heart pine floors
- Upper unit includes primary suite, updated bath, chef’s kitchen, and second‑floor balcony access
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
$32,074
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
3.67%
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%
$641,480
$641.5K
Cap Rate 7%
$458,200
$458.2K
Cap Rate 9%
$356,378
$356.4K
Market Conditions
NOI Build-Up for 2,533 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
$50.2K $19.80/SF
− Vacancy
−$4.3K −$1.71/SF
EGI
$45.8K $18.09/SF
− OpEx
−$13.7K −$5.43/SF
NOI
$32.1K $12.66/SF
Area
ZIP 70119
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%
$641,480
Cap Rate 7%
$458,200
Cap Rate 9%
$356,378
Alternative Uses
Best Use
Multifamily LT 5
$458.2K
$400.9K – $534.6K
NOI $32,074 @ 7.0% cap · market cap 3.67%
Second Best
Apartment 5plus
$421.2K
$368.5K – $491.4K
NOI $29,481 @ 7.0% cap · market cap 3.37%
Theoretical Best
Office A
$662.8K
$580.0K – $773.3K
NOI $46,396 @ 7.0% cap · market cap 5.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,119
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
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 - Two-unit property with historic architectural details, an updated upper-level bath, and covered outdoor space.
Where is this duplex located?
The property is located at 1452-54 Verna Court New Orleans, LA.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 2,533‑square‑foot duplex built in 1927; 12‑foot ceilings, cypress molding, grand fireplaces, and antique heart pine floors; Upper unit includes primary suite, updated bath, chef’s kitchen, and second‑floor balcony access
