Shotgun Duplex Income
For Sale
$315,000
1526-28 Gallier Street, New Orleans, LA 70117
Occupied shotgun-style duplex with separate utilities, central air, and washer/dryer hookups in both units.
Days on Market89
Property Features for 1526-28 Gallier Street
General Information
Standard status
Active
Property subtype
Multi Family Home
Occupancy
100%
Additional Details
Multifamily Units
2
Building Details
Building Size
1,550 SF
Year Built
1945
Construction
shotgun-style
Listing Agency:
Rck-White Realty & Property Ma
(504) 913-6979
Listed By:
Carlita White · License #000002485
(504) 913-6979
Source:
Nolalivingrealty
Added: May 4
Changed: Jul 26
Last Checked: Jul 30 at 1:20PM
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 Rck-White Realty & Property Ma
Investment Insights
Based on property information with market context.
This income-producing shotgun-style duplex features two units that are both currently occupied by Section 8 tenants. Each unit offers 2–3 bedrooms, 1 bathroom, central air and heat, and all-electric service, with separate electric and water meters. Washer/dryer hookups are provided in both units, along with granite countertops and solid wood cabinetry.
The property is located in the historic Bywater North area and is described as being just minutes from downtown New Orleans, the French Quarter, hospitals, restaurants, shopping, and other neighborhood amenities.
For buyers seeking a stabilized rental structure, the reported total monthly rental income is $2,581, with annual gross rental income listed as $30,972.
The property is located in the historic Bywater North area and is described as being just minutes from downtown New Orleans, the French Quarter, hospitals, restaurants, shopping, and other neighborhood amenities.
For buyers seeking a stabilized rental structure, the reported total monthly rental income is $2,581, with annual gross rental income listed as $30,972.
Key Highlights
- Income‑producing shotgun‑style duplex built in 1945 with both units occupied by Section 8 tenants
- Total monthly rental income of $2,581 and annual gross rental income of $30,972
- Each unit features 2–3 bedrooms, 1 bathroom, and central air and heat
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $30.7k | $19.80 |
| − Vacancy | −$2.7k | −$1.71 |
| EGI | $28.0k | $18.09 |
| − OpEx | −$8.4k | −$5.43 |
| NOI | $19.6k | $12.66 |
1,550 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$280.4K
$245.3K – $327.1K
NOI $19,627 @ 7.0% cap · market cap 6.23%
Second Best
Apartment 5plus
$257.7K
$225.5K – $300.7K
NOI $18,040 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$394.0K
$344.7K – $459.6K
NOI $27,577 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,175
Businesses Nearby
Explore this area
Business Placement
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
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 - Occupied shotgun-style duplex with separate utilities, central air, and washer/dryer hookups in both units.
Where is this duplex located?
The property is located at 1526-28 Gallier Street New Orleans, LA.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Income‑producing shotgun‑style duplex built in 1945 with both units occupied by Section 8 tenants; Total monthly rental income of $2,581 and annual gross rental income of $30,972; Each unit features 2–3 bedrooms, 1 bathroom, and central air and heat
