Historic Creole Cottage
For Sale
$495,000
1510-12 Euterpe Street, New Orleans, LA 70130
Two-level duplex with a courtyard, historic detailing, and a renovated owner’s residence.
Property Size1,548 SF
Price / SF$319.77
Days on Market152
Property Features for 1510-12 Euterpe Street
General Information
Standard status
Active
Size
1,548 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Amenities
Central Air
Central
1
2
4
Yes
Asphalt
Other
Courtyard
Pillar/Post/Pier
Frame
Building Details
Year Built
1872
Listing Agency:
Reese & Company Real Estate, LLC
(504) 400-8558
Listed By:
Karon Reese · License #995683961
(504) 400-8558
Source:
Compass
Added: Apr 4
Changed: Aug 31
Last Checked: Sep 1 at 10:48PM
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 Reese & Company Real Estate, LLC
Investment Insights
Based on property information with market context.
This 1872 duplex is configured with two separate residences, each offering a bedroom on the main level and another upstairs. The owner’s side has been renovated with wide-plank wood floors, historic fireplace mantels, custom fixtures, modern appliances, marble tile, Quartzite countertops, a farmhouse sink, reclaimed-wood bar elements, preserved beadboard, and artist-designed iron stair railings. Central heat and air serve the owner’s residence, while the other side uses window units. A courtyard adds shared outdoor character, and the roof was replaced in 2022. A termite contract is in place.
The property is located at 1510-12 Euterpe Street in New Orleans’ Lower Garden District, one block from Coliseum Square and St. Charles Avenue. The surrounding park offers mature live oaks and neighborhood gatherings, while the home sits less than a block from the local parade route.
The property is located at 1510-12 Euterpe Street in New Orleans’ Lower Garden District, one block from Coliseum Square and St. Charles Avenue. The surrounding park offers mature live oaks and neighborhood gatherings, while the home sits less than a block from the local parade route.
Key Highlights
- 1872‑built duplex with two separate residences
- Each side includes one downstairs bedroom and one upstairs bedroom
- Renovated owner’s residence with historic details and custom finishes
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
$19,602
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
3.96%
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%
$392,040
$392.0K
Cap Rate 7%
$280,029
$280.0K
Cap Rate 9%
$217,800
$217.8K
Market Conditions
NOI Build-Up for 1,548 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
$30.7K $19.80/SF
− Vacancy
−$2.6K −$1.71/SF
EGI
$28.0K $18.09/SF
− OpEx
−$8.4K −$5.43/SF
NOI
$19.6K $12.66/SF
Area
New Orleans, LA
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%
$392,040
Cap Rate 7%
$280,029
Cap Rate 9%
$217,800
Alternative Uses
Best Use
Multifamily LT 5
$280.0K
$245.0K – $326.7K
NOI $19,602 @ 7.0% cap · market cap 3.96%
Second Best
Apartment 5plus
$257.4K
$225.2K – $300.3K
NOI $18,017 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$393.5K
$344.3K – $459.0K
NOI $27,542 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,093
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-level duplex with a courtyard, historic detailing, and a renovated owner’s residence.
Where is this duplex located?
The property is located at 1510-12 Euterpe Street New Orleans, LA.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 1872‑built duplex with two separate residences; Each side includes one downstairs bedroom and one upstairs bedroom; Renovated owner’s residence with historic details and custom finishes
