Renovated Multifamily
For Sale
$574,000
1472 Constance St, New Orleans, LA 70130
MULTI_FAMILY - New Orleans, LA
Property Size3,300 SF
Lot Size0.07 Acres
Price / SF$173.94
Days on Market149
Property Features for 1472 Constance St
General Information
Property type
Residential Multi Family
Property subtype
Other
Appliances
Microwave, Range/Oven, Refrigerator
Subdivision
Not A Subdivision
Elementary school district
Orleans Parish
Middle school district
Orleans Parish
High school district
Orleans Parish
Directions
Start on Poydras Street heading west toward the river/Convention Center area. Turn left onto Magazine St. Drive about 0.5 mile. Turn right onto Race St. Go one block, then turn left onto Constance St. Drive a short distance to 1472 Constance St, which is
Standard status
Active
Size
3,300 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Description
SQ 113 LOT 25 OR S CONSTANCE 33'43'/33'63'X95'11' 1172-74 CONSTANCE
Legal Description
SQ 113 LOT 25 OR S CONSTANCE 33'43'/33'63'X95'11' 1172-74 CONSTANCE
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Natural Gas
Cooling system
Window Unit(s), Wall Unit(s)
Water source
Public
Amenities
refinished hardwood floors
original mantels & decorative fireplaces
high ceilings
pocket doors
ceiling fans
individual balconies
private courtyards
Building Details
Flooring type
Wood
Building materials
Wood Siding, Frame
Roof type
Shingle
Listing Agency:
ListWithFreedom.com, Inc
(855) 456-4945
Listed By:
Kurt Clements · License #995712944
(855) 456-4945
Added: Mar 16
Changed: Aug 4
Last Checked: Aug 11 at 7:06PM
MLS# 2026004666
Copyright © 2026 Greater Baton Rouge 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.
This renovated multifamily residence was updated in 2015 and features refinished hardwood floors, original mantels, and decorative fireplaces. Interiors include high ceilings, pocket doors, ceiling fans, and large living areas. All bedrooms are located upstairs, and the property also offers individual balconies and private courtyards.
Located at 1472 Constance St in New Orleans (70130), the property is described as being in the Lower Garden District. Public remarks note it is down the block from local sit-in restaurants and Hotel Saint Vincent, with an easy five-minute drive to downtown.
With an approximate total size of 3,300 square feet and a lot size of about 0.07 acres, the home presents a cohesive layout centered on upstairs bedrooms, generous common living spaces, and multiple private outdoor areas.
Located at 1472 Constance St in New Orleans (70130), the property is described as being in the Lower Garden District. Public remarks note it is down the block from local sit-in restaurants and Hotel Saint Vincent, with an easy five-minute drive to downtown.
With an approximate total size of 3,300 square feet and a lot size of about 0.07 acres, the home presents a cohesive layout centered on upstairs bedrooms, generous common living spaces, and multiple private outdoor areas.
Key Highlights
- Renovated in 2015
- Refinished hardwood floors with original mantels and decorative fireplaces
- High ceilings plus pocket doors and ceiling fans
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
$38,408
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
6.69%
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%
$768,160
$768.2K
Cap Rate 7%
$548,686
$548.7K
Cap Rate 9%
$426,756
$426.8K
Market Conditions
NOI Build-Up for 3,300 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
$76.8K $23.28/SF
− Vacancy
−$7.0K −$2.12/SF
EGI
$69.8K $21.16/SF
− OpEx
−$31.4K −$9.52/SF
NOI
$38.4K $11.64/SF
Area
New Orleans, LA
Vacancy
9.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$768,160
Cap Rate 7%
$548,686
Cap Rate 9%
$426,756
Alternative Uses
Best Use
Apartment 5plus
$548.7K
$480.1K – $640.1K
NOI $38,408 @ 7.0% cap · market cap 6.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$838.8K
$733.9K – $978.6K
NOI $58,713 @ 7.0% cap · market cap 10.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,416
Businesses Nearby
Explore this area
Business Placement
Demographics for 70130, LA
14,521
Population
10,927
Households
1.3
Avg Household Size
38
Median Age
64%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
6,915
Density / Sq Mi
$82,758
Median Household Income
$52,492
Median Earnings
$1,410
Median Rent
$529,300
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?
Multifamily property - Renovated in 2015 with refinished hardwood floors, decorative fireplaces, and private outdoor space including balconies and courtyards.
Where is this multifamily property located?
The property is located at 1472 Constance St New Orleans, LA.
What is the asking price?
The asking price for this property is $574,000.
What are key features of this property?
This property features: Renovated in 2015; Refinished hardwood floors with original mantels and decorative fireplaces; High ceilings plus pocket doors and ceiling fans
