Two-Story Duplex with
For Sale
$649,000
1547 49 N Galvez St, New Orleans, LA 70119
2021-built income property with spacious layouts, private outdoor areas, and separately metered utilities for each residence.
Property Size3,552 SF
Price / SF$182.71
Days on Market37
Property Features for 1547 49 N Galvez St
General Information
Standard status
Active
Size
3,552 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
off-street parking
interior laundry
balconies
porches
Building Details
Year Built
2021
Buildings
1
Stories
2
Listing Agency:
Appletree Realty, LLC
(504) 272-7288
Listed By:
Cindy Ng · License #995684283
Source:
Dominionplace
Added: Jul 26
Changed: Aug 30
Last Checked: Aug 30 at 8:37PM
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 Appletree Realty, LLC
Investment Insights
Based on property information with market context.
Completed in 2021, this two-story duplex contains two three-bedroom, two-bath residences with 3,552 square feet overall. Each unit offers an open living arrangement, a large kitchen, interior laundry, and generous closet storage. Front and rear porches serve the ground level, while each residence also includes front and rear balconies on the second floor.
The property is configured with separate electric and water metering, and occupants are responsible for all utilities. Off-street parking is provided. The building is identified as being in an X Flood Zone and is located at 1547 49 N Galvez St in New Orleans, Louisiana.
The property is configured with separate electric and water metering, and occupants are responsible for all utilities. Off-street parking is provided. The building is identified as being in an X Flood Zone and is located at 1547 49 N Galvez St in New Orleans, Louisiana.
Key Highlights
- 2021 construction with 3,552 square feet across two residences
- Each unit includes 3 bedrooms and 2 full baths
- Front and rear balconies plus porches provide private outdoor 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
$44,977
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
6.93%
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%
$899,540
$899.5K
Cap Rate 7%
$642,529
$642.5K
Cap Rate 9%
$499,744
$499.7K
Market Conditions
NOI Build-Up for 3,552 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
$70.3K $19.80/SF
− Vacancy
−$6.1K −$1.71/SF
EGI
$64.3K $18.09/SF
− OpEx
−$19.3K −$5.43/SF
NOI
$45.0K $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%
$899,540
Cap Rate 7%
$642,529
Cap Rate 9%
$499,744
Alternative Uses
Best Use
Multifamily LT 5
$642.5K
$562.2K – $749.6K
NOI $44,977 @ 7.0% cap · market cap 6.93%
Second Best
Apartment 5plus
$590.6K
$516.8K – $689.0K
NOI $41,341 @ 7.0% cap · market cap 6.37%
Theoretical Best
Office A
$929.4K
$813.3K – $1.08M
NOI $65,061 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,287
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 - 2021-built income property with spacious layouts, private outdoor areas, and separately metered utilities for each residence.
Where is this duplex located?
The property is located at 1547 49 N Galvez St New Orleans, LA.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 2021 construction with 3,552 square feet across two residences; Each unit includes 3 bedrooms and 2 full baths; Front and rear balconies plus porches provide private outdoor areas
