Two-Unit Duplex with Separate Upper
For Sale
$300,000
1516 Gentilly Boulevard, New Orleans, LA 70119
Separate entrances and a fenced yard support flexible occupancy across the property.
Property Size1,904 SF
Price / SF$157.56
Days on Market36
Property Features for 1516 Gentilly Boulevard
General Information
Standard status
Active
Size
1,904 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Amenities
fenced yard
screened front porch
laundry area
Building Details
Year Built
1946
Listing Agency:
Keller Williams Realty Services
(985) 727-7168
Listed By:
Louis Williams · License #000073679
Source:
Fiorellaavenue
Added: Jul 28
Changed: Aug 29
Last Checked: Aug 31 at 7:23PM
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 Keller Williams Realty Services
Investment Insights
Based on property information with market context.
This 1,904-square-foot duplex contains two dedicated living units within a 1946 structure. The main residence offers three bedrooms, two full baths, a living room, dining area, kitchen, laundry space, original wood floors, tall ceilings, and natural light. The upper unit has its own rear entrance and exterior staircase, along with a kitchen, living and sleeping area, and full bath with a clawfoot tub.
Outdoor features include a screened front porch and fenced yard serving the property. The address is just steps from the Fairgrounds and minutes from Bayou St. John, City Park, coffee shops, restaurants, and local markets. The upper unit is currently leased, while the layout also accommodates an owner-occupant arrangement with separate space above.
Outdoor features include a screened front porch and fenced yard serving the property. The address is just steps from the Fairgrounds and minutes from Bayou St. John, City Park, coffee shops, restaurants, and local markets. The upper unit is currently leased, while the layout also accommodates an owner-occupant arrangement with separate space above.
Key Highlights
- Two dedicated units with 4 total bedrooms and 3 total baths
- 1,904 square feet in a 1946‑built duplex
- Main unit includes 3 bedrooms, 2 full baths, living and dining areas, kitchen, and laundry
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
$24,109
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%
$482,180
$482.2K
Cap Rate 7%
$344,414
$344.4K
Cap Rate 9%
$267,878
$267.9K
Market Conditions
NOI Build-Up for 1,904 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
$37.7K $19.80/SF
− Vacancy
−$3.3K −$1.71/SF
EGI
$34.4K $18.09/SF
− OpEx
−$10.3K −$5.43/SF
NOI
$24.1K $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%
$482,180
Cap Rate 7%
$344,414
Cap Rate 9%
$267,878
Alternative Uses
Best Use
Multifamily LT 5
$344.4K
$301.4K – $401.8K
NOI $24,109 @ 7.0% cap · market cap 8.04%
Second Best
Apartment 5plus
$316.6K
$277.0K – $369.3K
NOI $22,160 @ 7.0% cap · market cap 7.39%
Theoretical Best
Office A
$498.2K
$435.9K – $581.3K
NOI $34,875 @ 7.0% cap · market cap 11.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,277
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 - Separate entrances and a fenced yard support flexible occupancy across the property.
Where is this duplex located?
The property is located at 1516 Gentilly Boulevard New Orleans, LA.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Two dedicated units with 4 total bedrooms and 3 total baths; 1,904 square feet in a 1946‑built duplex; Main unit includes 3 bedrooms, 2 full baths, living and dining areas, kitchen, and laundry
