Fully Renovated
1538-40 North Roman Street New Orleans, LA 70116
1538-40 North Roman Street, New Orleans, LA, 70116
$385,000
For Sale
$385,000
Renovated in 2021 and configured as two units with central air and off-street parking.
Property Size2,475 SF
Price / SF$155.56
Days on Market93
Property Features for 1538-40 North Roman Street
General Information
- Standard status
- Active
- Size
- 2,475 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1957
Listing agency
Powerhouse Realty Group
(504) 915-0219
Listed by
Jimmie McFarland · License #995711274
(504) 915-0219
Source
Compass
Added: Apr 21 Updated: Jul 21 at 8:58PM Checked: Jul 21 at 8:58PM
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 Powerhouse Realty Group
Investment Insights
Based on property information with market context.
This fully renovated duplex was updated in 2021 and offers two separate residential units. One unit is laid out with 2 bedrooms and 1 full bath, and the other features 3 bedrooms and 2.5 baths. Both sides are equipped with central air and central heat for year-round comfort. Off-street parking is included with the property.
The duplex is located in New Orleans’ 7th Ward and is described as being just minutes from the French Quarter and Caesars Superdome.
With two spacious, separately configured units, the property supports straightforward income potential through two rental-ready layouts, each with central HVAC and off-street parking.
The duplex is located in New Orleans’ 7th Ward and is described as being just minutes from the French Quarter and Caesars Superdome.
With two spacious, separately configured units, the property supports straightforward income potential through two rental-ready layouts, each with central HVAC and off-street parking.
Key Highlights
- Duplex fully renovated in 2021, offering two separate units
- Unit mix: 2BD/1 full BA plus 3BD/2.5 BA configuration
- Central air and central heating in both units
Local 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 | $49.0k | $19.80 |
| − Vacancy | −$4.2k | −$1.71 |
| EGI | $44.8k | $18.09 |
| − OpEx | −$13.4k | −$5.43 |
| NOI | $31.3k | $12.66 |
2,475 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$447.7K
$391.8K – $522.3K
NOI $31,340 @ 7.0% cap · market cap 8.14%
Second Best
Apartment 5plus
$411.5K
$360.1K – $480.1K
NOI $28,806 @ 7.0% cap · market cap 7.48%
Theoretical Best
Office A
$629.1K
$550.4K – $733.9K
NOI $44,034 @ 7.0% cap · market cap 11.44%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Renovated in 2021 and configured as two units with central air and off-street parking.
Where is this duplex located?
The property is located at 1538-40 North Roman Street New Orleans, LA.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Duplex fully renovated in 2021, offering two separate units; Unit mix: 2BD/1 full BA plus 3BD/2.5 BA configuration; Central air and central heating in both units
