Two-Unit Cottage
For Sale
$300,000
1516 GENTILLY Boulevard, New Orleans, LA 70119
Multi-Family, Cottage, New Orleans, LA
Property Size1,904 SF
Lot Size0.07 Acres
Price / SF$157.56
Days on Market97
Property Features for 1516 GENTILLY Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Other
Patio and Porch features
Porch
Exterior features
Fence, Porch Screened In
Fencing
Fenced
Lot features
Regular
Subdivision
Fairgrounds
Standard status
Active
APN
37W300802
Size
1,904 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Description
SQ 1530 LOT Q GENTILLY BD 38 OVER 34 X 79 OVER 95
Legal Description
SQ 1530 LOT Q GENTILLY BD 38 OVER 34 X 79 OVER 95
Utilities
Heating system
Central
Cooling system
Window Unit(s), Central Air
Water source
Public
Amenities
fenced yard
screened front porch
laundry area
Building Details
Year built
1946
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Cottage
Listing Agency:
Keller Williams Realty Services
(985) 727-7000
Listed By:
Louis Williams · License #000073679
(985) 237-0712
Added: May 28
Changed: Aug 26
Last Checked: Sep 1 at 6:06AM
MLS# 2560296
Copyright © 2026 New Orleans Metropolitan 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 1946 cottage-style duplex contains two dedicated residences within 1,904 square feet. The lower unit offers three bedrooms, two full baths, a living room, dining area, kitchen, and laundry space. Original wood floors, tall ceilings, solid wood cabinetry, and natural light add character to the main level. The upper unit is arranged as a private one-bedroom, one-bath apartment with its own rear entrance, kitchen, living and sleeping areas, and a full bath with a clawfoot tub.
Exterior features include a screened porch and fenced yard. The property occupies 0.0719 acres and is served by public water, central heating, central air, and window units. Its New Orleans location places it near the Fairgrounds, Bayou St. John, City Park, coffee shops, restaurants, and local markets.
Exterior features include a screened porch and fenced yard. The property occupies 0.0719 acres and is served by public water, central heating, central air, and window units. Its New Orleans location places it near the Fairgrounds, Bayou St. John, City Park, coffee shops, restaurants, and local markets.
Key Highlights
- Two dedicated units with 4 total bedrooms and 3 total baths
- 1,904 square feet on a 0.0719‑acre lot
- Lower residence includes 3 bedrooms, 2 full baths, living, dining, kitchen, and laundry areas
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 - Cottage-style duplex with a three-bedroom lower residence and a separate one-bedroom upper apartment.
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 on a 0.0719‑acre lot; Lower residence includes 3 bedrooms, 2 full baths, living, dining, kitchen, and laundry areas
