Duplex with Established Rental
For Sale
$215,000
1629 31 Pauline St, New Orleans, LA 70117
Two residences include a two-bedroom, two-bath unit and a one-bedroom, one-bath unit.
Property Size1,650 SF
Price / SF$130.30
Days on Market72
Property Features for 1629 31 Pauline St
General Information
Standard status
Active
Size
1,650 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1937
Listing Agency:
REVE, REALTORS
Listed By:
Tegan Mason · License #995703612
(504) 952-1313
Source:
Dominionplace
Added: Aug 9
Changed: Oct 19
Last Checked: Oct 19 at 12:46PM
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 REVE, REALTORS
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,650-square-foot duplex at 1629 31 Pauline St in New Orleans contains two separate residences. The larger unit has two bedrooms and two bathrooms, while the second residence provides one bedroom and one bathroom. Built in 1937, the property includes established rental income associated with the smaller unit.
Key Highlights
- 1,650‑square‑foot duplex at 1629 31 Pauline St, New Orleans, LA 70117
- Larger unit includes 2 bedrooms and 2 bathrooms
- Second unit offers 1 bedroom and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,204
Cap Rate
8.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$384,080
$384.1K
Cap Rate 7%
$274,343
$274.3K
Cap Rate 9%
$213,378
$213.4K
Market Conditions
NOI Build-Up for 1,650 SF
Gross rent
$38.4K $23.28/SF
− Vacancy
−$3.5K −$2.12/SF
EGI
$34.9K $21.16/SF
− OpEx
−$15.7K −$9.52/SF
NOI
$19.2K $11.64/SF
Area
New Orleans, LA
Vacancy
9.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$384,080
Cap Rate 7%
$274,343
Cap Rate 9%
$213,378
Alternative Uses
Best Use
Multifamily LT 5
$298.5K
$261.2K – $348.2K
NOI $20,893 @ 7.0% cap · market cap 9.72%
Second Best
Apartment 5plus
$274.3K
$240.1K – $320.1K
NOI $19,204 @ 7.0% cap · market cap 8.93%
Theoretical Best
Office A
$419.4K
$367.0K – $489.3K
NOI $29,356 @ 7.0% cap · market cap 13.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
876
Businesses Nearby
Explore this area
Business Placement
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences include a two-bedroom, two-bath unit and a one-bedroom, one-bath unit.
Where is this duplex located?
The property is located at 1629 31 Pauline St New Orleans, LA.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: 1,650‑square‑foot duplex at 1629 31 Pauline St, New Orleans, LA 70117; Larger unit includes 2 bedrooms and 2 bathrooms; Second unit offers 1 bedroom and 1 bathroom
