Residential Duplex For
1605-07 North Prieur Street New Orleans, LA 70116
1605-07 North Prieur Street, New Orleans, LA, 70116
$248,000
For Sale
$248,000
Each unit includes a stove and refrigerator, with one side rented and the other vacant.
Property Size1,450 SF
Price / SF$171.03
Days on Market285
Property Features for 1605-07 North Prieur Street
General Information
- Standard status
- Active
- Size
- 1,450 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1930
Listing agency
Southern Spirit Realty
(504) 319-2693
Listed by
Keisha Washington · License #000073092
(504) 319-2693
Source
Compass
Added: Oct 11, 2025 Updated: Jul 21 at 9:01PM Checked: Jul 21 at 9:01PM
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 Southern Spirit Realty
Investment Insights
Based on property information with market context.
This duplex property consists of two residential sides at 1605-07 North Prieur Street. Each side is equipped with a stove and refrigerator that will remain with the property. The living room light fixture on the 1605 side will not remain in the unit, and the 1607 side is in the process of being rented.
According to the seller, the home is not far from downtown and offers close transportation and neighborhood resources. The side yard is not included in the sale, and the house has a separate backyard only. The property is located in Flood Zone X.
The sale must close at Rick Regan or Bayou Title, and the buyer must confirm measurements. The listing also notes that the sale terms require buyer verification of dimensions.
According to the seller, the home is not far from downtown and offers close transportation and neighborhood resources. The side yard is not included in the sale, and the house has a separate backyard only. The property is located in Flood Zone X.
The sale must close at Rick Regan or Bayou Title, and the buyer must confirm measurements. The listing also notes that the sale terms require buyer verification of dimensions.
Key Highlights
- Two‑unit double in the historic 7th Ward / Esplanade Ridge neighborhood
- Each side includes a stove and refrigerator
- One side is rented and the other side is vacant (1607 side in the process of being rented)
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 | $28.7k | $19.80 |
| − Vacancy | −$2.5k | −$1.71 |
| EGI | $26.2k | $18.09 |
| − OpEx | −$7.9k | −$5.43 |
| NOI | $18.4k | $12.66 |
1,450 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$262.3K
$229.5K – $306.0K
NOI $18,361 @ 7.0% cap · market cap 7.40%
Second Best
Apartment 5plus
$241.1K
$211.0K – $281.3K
NOI $16,876 @ 7.0% cap · market cap 6.80%
Theoretical Best
Office A
$368.5K
$322.5K – $430.0K
NOI $25,798 @ 7.0% cap · market cap 10.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Each unit includes a stove and refrigerator, with one side rented and the other vacant.
Where is this duplex located?
The property is located at 1605-07 North Prieur Street New Orleans, LA.
What is the asking price?
The asking price for this property is $248,000.
What are key features of this property?
This property features: Two‑unit double in the historic 7th Ward / Esplanade Ridge neighborhood; Each side includes a stove and refrigerator; One side is rented and the other side is vacant (1607 side in the process of being rented)
