Victorian Duplex with Separate
For Sale
$315,000
1458-60 N Dorgenois St, New Orleans, LA 70119
Two-unit property with hardwood floors, 12-foot ceilings, mantels, and independent outdoor areas.
Property Size2,000 SF
Price / SF$157.50
Days on Market21
Property Features for 1458-60 N Dorgenois St
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1923
Construction
victorian
Listing Agency:
LATTER & BLUM
Listed By:
ELEANOR T FARNSWORTH · License #000042529
(504) 669-0211
Source:
Dominionplace
Added: Aug 13
Changed: Aug 28
Last Checked: Sep 1 at 10:50PM
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 LATTER & BLUM
Investment Insights
Based on property information with market context.
Built in 1923, this Victorian shotgun duplex contains two residential units within approximately 2,000 square feet. Each side includes hardwood flooring, 12-foot ceilings, and distinctive mantels, while separate backyard areas provide dedicated outdoor space for the individual residences.
The property is located at 1458-60 N Dorgenois St in New Orleans, Louisiana, within blocks of Esplanade. Its two-unit configuration supports separate occupancy, with the historic architectural details preserved across both sides.
The property is located at 1458-60 N Dorgenois St in New Orleans, Louisiana, within blocks of Esplanade. Its two-unit configuration supports separate occupancy, with the historic architectural details preserved across both sides.
Key Highlights
- 1923 Victorian shotgun duplex
- Two residential units within approximately 2,000 square feet
- Both units feature hardwood floors and 12‑foot ceilings
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
$25,325
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
8.04%
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%
$506,500
$506.5K
Cap Rate 7%
$361,786
$361.8K
Cap Rate 9%
$281,389
$281.4K
Market Conditions
NOI Build-Up for 2,000 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
$39.6K $19.80/SF
− Vacancy
−$3.4K −$1.71/SF
EGI
$36.2K $18.09/SF
− OpEx
−$10.9K −$5.43/SF
NOI
$25.3K $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%
$506,500
Cap Rate 7%
$361,786
Cap Rate 9%
$281,389
Alternative Uses
Best Use
Multifamily LT 5
$361.8K
$316.6K – $422.1K
NOI $25,325 @ 7.0% cap · market cap 8.04%
Second Best
Apartment 5plus
$332.5K
$291.0K – $388.0K
NOI $23,278 @ 7.0% cap · market cap 7.39%
Theoretical Best
Office A
$523.3K
$457.9K – $610.6K
NOI $36,634 @ 7.0% cap · market cap 11.63%
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
1,370
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 hardwood floors, 12-foot ceilings, mantels, and independent outdoor areas.
Where is this duplex located?
The property is located at 1458-60 N Dorgenois St New Orleans, LA.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 1923 Victorian shotgun duplex; Two residential units within approximately 2,000 square feet; Both units feature hardwood floors and 12‑foot ceilings
