Cottage-Style Duplex with Income
For Sale
$275,000
1516 GENTILLY Boulevard, New Orleans, LA 70119
Multi-Family, Cottage, New Orleans, LA
Property Size1,904 SF
Lot Size0.07 Acres
Price / SF$144.43
Days on Market131
Property Features for 1516 GENTILLY Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Duplex
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 #73679
(985) 237-0712
Added: May 28
Changed: Sep 16
Last Checked: Oct 5 at 11:06AM
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.
Built in 1946, this cottage-style duplex contains 1,904 square feet across two dedicated units with four total bedrooms and three total baths. The main residence includes three bedrooms, two full baths, a living room, dining area, kitchen, original wood floors, tall ceilings, and a laundry area. The second unit has a separate rear entrance and exterior staircase, plus its own kitchen, living and sleeping area, and full bath with a clawfoot tub. It is currently leased.
The property sits at 1516 Gentilly Boulevard in New Orleans, near the Fairgrounds and within minutes of Bayou St. John, City Park, coffee shops, restaurants, and local markets. Exterior features include a fenced yard and screened front porch. Additional property details include central heating, central air, window unit cooling, public water, and a shingle roof.
The property sits at 1516 Gentilly Boulevard in New Orleans, near the Fairgrounds and within minutes of Bayou St. John, City Park, coffee shops, restaurants, and local markets. Exterior features include a fenced yard and screened front porch. Additional property details include central heating, central air, window unit cooling, public water, and a shingle roof.
Key Highlights
- Two dedicated units with 4 total bedrooms and 3 total baths
- 1,904 square feet of residential space on 0.0719 acres
- Main unit includes 3 bedrooms and 2 full baths
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
8.77%
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 8.77%
Second Best
Apartment 5plus
$316.6K
$277.0K – $369.3K
NOI $22,160 @ 7.0% cap · market cap 8.06%
Theoretical Best
Office A
$498.2K
$435.9K – $581.3K
NOI $34,875 @ 7.0% cap · market cap 12.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with separate entrances, screened porch, fenced yard, and an upper apartment currently leased.
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 $275,000.
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 of residential space on 0.0719 acres; Main unit includes 3 bedrooms and 2 full baths
