Two-Unit Creole Cottage
For Sale
$270,000
1639-41 North Villere Street, New Orleans, LA 70116
Each residence offers four bedrooms, one bathroom, and an independent layout.
Property Size1,842 SF
Lot Size0.09 Acres
Price / SF$146.58
Days on Market62
Property Features for 1639-41 North Villere Street
General Information
Standard status
Active
Size
1,842 SF
Lot size
0.09 Acres
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Units
Unit Mix
2 x 4BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$36,000
Highway Access
Yes
Amenities
Window Unit(s)
1
2
8
In-Unit
Asphalt
Pillar/Post/Pier
HardiPlank Type, Vinyl Siding
Building Details
Year Built
1920
Construction
Creole cottage
Listing Agency:
Crescent Sotheby's International Realty
Listed By:
Richard Hebert · License #995701126
(504) 617-5184
Source:
Compass
Added: Aug 7
Changed: Oct 6
Last Checked: Oct 7 at 3:01PM
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 Crescent Sotheby's International Realty
Investment Insights
Based on property information with market context.
This 1920-built duplex at 1639-41 North Villere Street contains two independently arranged residences. Each side has 921 square feet, with four bedrooms and one bathroom, for a combined 1,842 square feet, eight bedrooms, and two bathrooms. Window units are noted among the interior features, and the exterior includes HardiPlank Type and vinyl siding over a pillar/post/pier foundation.
The property is in New Orleans’ Seventh Ward, within blocks of the French Quarter, Marigny, and Bywater. Esplanade Ridge, Bayou St. John, the Lafitte Greenway, and Esplanade are also identified nearby; I-10 provides regional access. The lot measures 32 feet by 128 feet.
The property is in New Orleans’ Seventh Ward, within blocks of the French Quarter, Marigny, and Bywater. Esplanade Ridge, Bayou St. John, the Lafitte Greenway, and Esplanade are also identified nearby; I-10 provides regional access. The lot measures 32 feet by 128 feet.
Key Highlights
- Two independent residences, each with 4 bedrooms and 1 bathroom
- Combined building area of 1,842 square feet; 921 square feet per side
- Eight bedrooms and two bathrooms across the duplex
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,324
Cap Rate
8.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$466,480
$466.5K
Cap Rate 7%
$333,200
$333.2K
Cap Rate 9%
$259,156
$259.2K
Market Conditions
NOI Build-Up for 1,842 SF
Gross rent
$36.5K $19.80/SF
− Vacancy
−$3.2K −$1.71/SF
EGI
$33.3K $18.09/SF
− OpEx
−$10.0K −$5.43/SF
NOI
$23.3K $12.66/SF
Area
New Orleans, LA
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 Rate 5%
$466,480
Cap Rate 7%
$333,200
Cap Rate 9%
$259,156
Alternative Uses
Best Use
Multifamily LT 5
$333.2K
$291.6K – $388.7K
NOI $23,324 @ 7.0% cap · market cap 8.64%
Second Best
Apartment 5plus
$306.3K
$268.0K – $357.3K
NOI $21,439 @ 7.0% cap · market cap 7.94%
Theoretical Best
Office A
$468.2K
$409.7K – $546.2K
NOI $32,772 @ 7.0% cap · market cap 12.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,707
Businesses Nearby
Explore this area
Business Placement
Demographics for 70116, LA
10,676
Population
9,620
Households
1.1
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
8,212
Density / Sq Mi
$45,580
Median Household Income
$34,849
Median Earnings
$1,190
Median Rent
$385,100
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 - Each residence offers four bedrooms, one bathroom, and an independent layout.
Where is this duplex located?
The property is located at 1639-41 North Villere Street New Orleans, LA.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Two independent residences, each with 4 bedrooms and 1 bathroom; Combined building area of 1,842 square feet; 921 square feet per side; Eight bedrooms and two bathrooms across the duplex
