Duplex with
For Sale
$215,000
1629 PAULINE Street, New Orleans, LA 70117
Multi-Family, Shot Gun, New Orleans, LA
Property Size1,650 SF
Price / SF$130.30
Days on Market86
Property Features for 1629 PAULINE Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Patio and Porch features
Porch
Exterior features
Fence, Porch
Fencing
Fenced
Lot features
Regular
Standard status
Active
APN
39W406307
Size
1,650 SF
Taxes and HOA fees
Tax Description
SQ 726 LOT 9 PAULINE 36 X 118 W/FR DBLE 10 RMS A/R
Legal Description
SQ 726 LOT 9 PAULINE 36 X 118 W/FR DBLE 10 RMS A/R
Utilities
Heating system
Central
Cooling system
Window Unit(s), Central Air
Water source
Public
Building Details
Year built
1937
Floors in Building
1
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
REVE, REALTORS
(504) 300-0700
Listed By:
Tegan Mason · License #995703612
(504) 300-0700
Added: Jun 8
Changed: Aug 22
Last Checked: Sep 1 at 5:06AM
MLS# 2561818
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 1629 Pauline Street in New Orleans, this 1,650-square-foot duplex was built in 1937 and includes two distinct residential units. The larger side contains two bedrooms and two bathrooms, while the second residence is configured with one bedroom and one bathroom and has established rental income.
The property includes a porch, fencing, shingle roofing, and public water service. Central heating serves the building, with cooling provided by central air and window units. Its New Orleans 70117 location places the property near local dining and entertainment within the Musician's Village area.
The property includes a porch, fencing, shingle roofing, and public water service. Central heating serves the building, with cooling provided by central air and window units. Its New Orleans 70117 location places the property near local dining and entertainment within the Musician's Village area.
Key Highlights
- 1,650 square feet configured as a duplex
- Larger unit includes 2 bedrooms and 2 bathrooms
- Second unit offers 1 bedroom and 1 bathroom
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
$19,204
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
8.93%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Separate one-bedroom quarters provide established rental income alongside the larger residence.
Where is this duplex located?
The property is located at 1629 PAULINE Street 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 feet configured as a duplex; Larger unit includes 2 bedrooms and 2 bathrooms; Second unit offers 1 bedroom and 1 bathroom
