Brick Duplex with Flexible
For Sale
$500,000
1569 Athis St, New Orleans, LA 70122
Tenant-occupied duplex with separate living areas, fenced outdoor space, covered parking, and additional off-street parking.
Property Size3,275 SF
Price / SF$152.67
Days on Market17
Property Features for 1569 Athis St
General Information
Standard status
Active
Size
3,275 SF
Property subtype
Multi-Family
Building Details
Year Built
1967
Listing Agency:
Keller Williams Realty Services
(985) 727-7168
Listed By:
Louis Williams · License #000073679
Source:
Fiorellaavenue
Added: Aug 16
Changed: Aug 31
Last Checked: Aug 31 at 6:58PM
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 Keller Williams Realty Services
Investment Insights
Based on property information with market context.
This 3,275-square-foot brick duplex, built in 1967, includes a four-bedroom living area and a separate one-bedroom space. The interior offers large bedrooms, connected living, dining, and kitchen areas, architectural arches, substantial natural light, and durable finishes. The configuration supports distinct household arrangements within one property.
A fenced yard, covered parking area, and additional off-street parking complement the home. The property is located on Athis Street in New Orleans’ Gentilly neighborhood, with access to local schools, parks, shopping, dining, and major thoroughfares. The property is currently tenant-occupied, and interior photographs may include virtual staging.
A fenced yard, covered parking area, and additional off-street parking complement the home. The property is located on Athis Street in New Orleans’ Gentilly neighborhood, with access to local schools, parks, shopping, dining, and major thoroughfares. The property is currently tenant-occupied, and interior photographs may include virtual staging.
Key Highlights
- 3,275 SF brick duplex built in 1967
- Four‑bedroom living area plus a separate one‑bedroom space
- Flexible interior arrangement with connected living, dining, and kitchen 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
$33,930
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
6.79%
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%
$678,600
$678.6K
Cap Rate 7%
$484,714
$484.7K
Cap Rate 9%
$377,000
$377.0K
Market Conditions
NOI Build-Up for 3,275 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
$53.1K $16.20/SF
− Vacancy
−$4.6K −$1.40/SF
EGI
$48.5K $14.80/SF
− OpEx
−$14.5K −$4.44/SF
NOI
$33.9K $10.36/SF
Area
ZIP 70122
Vacancy
8.64%
Lease Rate
$16.20 /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%
$678,600
Cap Rate 7%
$484,714
Cap Rate 9%
$377,000
Alternative Uses
Best Use
Multifamily LT 5
$484.7K
$424.1K – $565.5K
NOI $33,930 @ 7.0% cap · market cap 6.79%
Second Best
Apartment 5plus
$421.0K
$368.4K – $491.2K
NOI $29,472 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$857.0K
$749.9K – $999.8K
NOI $59,988 @ 7.0% cap · market cap 12.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
297
Businesses Nearby
Explore this area
Business Placement
Demographics for 70122, LA
34,986
Population
17,131
Households
2
Avg Household Size
39
Median Age
37%
College-Educated
89%
High-School Grad
6.3 sq mi
ZIP Area
5,553
Density / Sq Mi
$47,613
Median Household Income
$38,248
Median Earnings
$1,196
Median Rent
$274,700
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 - Tenant-occupied duplex with separate living areas, fenced outdoor space, covered parking, and additional off-street parking.
Where is this duplex located?
The property is located at 1569 Athis St New Orleans, LA.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 3,275 SF brick duplex built in 1967; Four‑bedroom living area plus a separate one‑bedroom space; Flexible interior arrangement with connected living, dining, and kitchen areas
