Split-Level
For Sale
$500,000
1569 ATHIS Street, New Orleans, LA 70122
MULTI_FAMILY - New Orleans, LA
Property Size3,275 SF
Lot Size0.17 Acres
Price / SF$152.67
Days on Market56
Property Features for 1569 ATHIS Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Off Street
Lot features
Corner
Standard status
Active
APN
37W523709
Size
3,275 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
LEGION OAKS EXT SQ V LOT 9 ATHIS AND PARIS AVE 60X120 1-1/2 ST SGLE FR 9/RMS A/R
Legal Description
LEGION OAKS EXT SQ V LOT 9 ATHIS AND PARIS AVE 60X120 1-1/2 ST SGLE FR 9/RMS A/R
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1967
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Split Level
Listing Agency:
Keller Williams Realty Services
(985) 727-7000
Listed By:
Louis Williams · License #000073679
(985) 727-7000
Added: Jun 17
Changed: Aug 3
Last Checked: Aug 11 at 6:06PM
MLS# 2563162
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.
Tenant-occupied split-level duplex built in 1967 offering flexible living arrangements. The home features an open flow between the living, dining, and kitchen areas, architectural arches, and abundant natural light. Bedroom and living space configurations include a larger four-bedroom portion and a separate one-bedroom living space.
The exterior includes a low-maintenance brick façade, a fenced yard, and a covered parking area with ample off-street parking. Central heating and central air are provided, with public water service and a shingle roof.
The property sits on a 0.1653-acre lot with a total size of 3,275 square feet. Heating and cooling are central, and parking is off street. Current leasing arrangements reflect the ability to operate as separate living spaces or as a single residence, subject to tenant terms and verification during due diligence.
The exterior includes a low-maintenance brick façade, a fenced yard, and a covered parking area with ample off-street parking. Central heating and central air are provided, with public water service and a shingle roof.
The property sits on a 0.1653-acre lot with a total size of 3,275 square feet. Heating and cooling are central, and parking is off street. Current leasing arrangements reflect the ability to operate as separate living spaces or as a single residence, subject to tenant terms and verification during due diligence.
Key Highlights
- Tenant‑occupied split‑level duplex built in 1967
- Flexible layout with a four‑bedroom portion and separate one‑bedroom living space
- 3,275 square feet on a 0.1653‑acre lot
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 split-level duplex with central heating and central air, off-street parking, and public water service.
Where is this duplex located?
The property is located at 1569 ATHIS Street 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: Tenant‑occupied split‑level duplex built in 1967; Flexible layout with a four‑bedroom portion and separate one‑bedroom living space; 3,275 square feet on a 0.1653‑acre lot
