Modern Multifamily Home with
For Sale
$465,000
Pending
1617 N DORGENOIS Street, New Orleans, LA 70119
MULTI_FAMILY - New Orleans, LA
Property Size2,055 SF
Lot Size0.07 Acres
Days on Market47
Property Features for 1617 N DORGENOIS Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Off Street
Exterior features
Fence
Fencing
Fenced
Lot features
Regular
Subdivision
Seventh Ward
Standard status
Pending
APN
37W210221
Size
2,055 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Description
SQ 1358 N DORGENOIS ST LOT F 90-15/105X30/26-3.11 1617 N DORGENOIS ST
Legal Description
SQ 1358 N DORGENOIS ST LOT F 90-15/105X30/26-3.11 1617 N DORGENOIS ST
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2020
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
REVE, REALTORS
(504) 300-0700
Listed By:
Brett Blanchard · License #995699674
(504) 300-0700
Added: Jun 27
Changed: Jul 21
Last Checked: Aug 12 at 1:06AM
MLS# 2565066
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.
Located at 1617 N DORGENOIS Street in New Orleans, this modern multifamily residence was completed in 2020. The main portion features soaring ceilings and sleek concrete floors with a clean, contemporary aesthetic. It offers two bedrooms and two bathrooms, designed for space and privacy. A breezeway connects an additional full suite with its own private bathroom.
Off the back of the house, a spacious deck provides outdoor space for dining and entertaining. Beyond the deck, there is a completely private guest apartment, offering separate accommodations for visitors or flexibility for rental use.
The property sits on a small lot and is configured as a connected live-and-guest setup within a single modern building design.
Off the back of the house, a spacious deck provides outdoor space for dining and entertaining. Beyond the deck, there is a completely private guest apartment, offering separate accommodations for visitors or flexibility for rental use.
The property sits on a small lot and is configured as a connected live-and-guest setup within a single modern building design.
Key Highlights
- Completed in 2020 with modern design elements including soaring ceilings and sleek concrete floors
- 2‑bedroom, 2‑bath main home plus a connected suite with its own private bathroom
- Separate private guest apartment off the back of the house with potential for rental income
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
$26,021
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
5.60%
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%
$520,420
$520.4K
Cap Rate 7%
$371,729
$371.7K
Cap Rate 9%
$289,122
$289.1K
Market Conditions
NOI Build-Up for 2,055 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
$40.7K $19.80/SF
− Vacancy
−$3.5K −$1.71/SF
EGI
$37.2K $18.09/SF
− OpEx
−$11.2K −$5.43/SF
NOI
$26.0K $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%
$520,420
Cap Rate 7%
$371,729
Cap Rate 9%
$289,122
Alternative Uses
Best Use
Multifamily LT 5
$371.7K
$325.3K – $433.7K
NOI $26,021 @ 7.0% cap · market cap 5.60%
Second Best
Apartment 5plus
$341.7K
$299.0K – $398.6K
NOI $23,918 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$537.7K
$470.5K – $627.4K
NOI $37,641 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
714
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 - Completed in 2020, the home includes two bedrooms and two baths plus a breezeway-connected suite and private guest apartment.
Where is this duplex located?
The property is located at 1617 N DORGENOIS Street New Orleans, LA.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Completed in 2020 with modern design elements including soaring ceilings and sleek concrete floors; 2‑bedroom, 2‑bath main home plus a connected suite with its own private bathroom; Separate private guest apartment off the back of the house with potential for rental income
