Arts and Crafts
For Sale
$875,000
1452 54 Verna Ct, New Orleans, LA 70119
Historic two-unit residence with separate utilities, original detailing, updated systems, and flexible owner-occupant or rental potential.
Property Size2,533 SF
Price / SF$345.44
Days on Market24
Property Features for 1452 54 Verna Ct
General Information
Standard status
Active
Size
2,533 SF
Property subtype
Multi-Family
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 3BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Amenities
wraparound porch
stained-glass gable
wood-burning fireplaces
balconies
back porch
yard
Building Details
Year Built
1927
Buildings
1
Construction
Arts and Crafts
Listing Agency:
REVE, REALTORS
(504) 338-2587
Listed By:
Lara Schultz · License #000075293
Source:
Fiorellaavenue
Added: Aug 8
Changed: Aug 28
Last Checked: Aug 30 at 8:21PM
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.
Built in 1927, this two-unit residence combines preserved Arts and Crafts character with substantial interior updates. The upper apartment contains 1,297 square feet, three bedrooms, and two full baths, including a renovated kitchen, primary suite, private balcony, and second front balcony. The 1,236-square-foot lower apartment provides one bedroom, one full bath, a galley kitchen, and access to a rear porch and yard. Shared architectural details include 12-foot ceilings, cypress millwork, heart-pine flooring, stained glass, and wood-burning fireplaces.
The property occupies a cul-de-sac at the Fair Grounds and is positioned near Bayou St. John, City Park, the New Orleans Museum of Art, and Esplanade Avenue dining and coffee options. Separate utilities serve each unit, while a 2021 roof replacement and 2026 replacement of both AC systems provide notable system updates. The property is in an X flood zone and is currently owner-occupied.
The property occupies a cul-de-sac at the Fair Grounds and is positioned near Bayou St. John, City Park, the New Orleans Museum of Art, and Esplanade Avenue dining and coffee options. Separate utilities serve each unit, while a 2021 roof replacement and 2026 replacement of both AC systems provide notable system updates. The property is in an X flood zone and is currently owner-occupied.
Key Highlights
- Two‑unit configuration totals 2,533 square feet with 3 bedrooms upstairs and 1 bedroom downstairs
- Upper unit includes 1,297 square feet, 3 bedrooms, 2 full baths, renovated kitchen, and private balcony
- Lower unit offers 1,236 square feet, 1 bedroom, 1 full bath, rear porch, and yard 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
Yes
Paved road access
Yes
Utilities to site
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 - Historic two-unit residence with separate utilities, original detailing, updated systems, and flexible owner-occupant or rental potential.
Where is this duplex located?
The property is located at 1452 54 Verna Ct 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: Two‑unit configuration totals 2,533 square feet with 3 bedrooms upstairs and 1 bedroom downstairs; Upper unit includes 1,297 square feet, 3 bedrooms, 2 full baths, renovated kitchen, and private balcony; Lower unit offers 1,236 square feet, 1 bedroom, 1 full bath, rear porch, and yard access
