8-Bedroom
1639 N Villere Street, New Orleans, LA 70116
For Sale
$249,000
Two matching residences offer independent living spaces, with the option to retain them separately or combine them into one home.
Property Size1,842 SF
Lot Size0.09 Acres
Price / SF$135.18
Days on Market74
Property Features for 1639 N Villere Street
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Neighborhood
Highway Access
Road Access
Units
Unit Mix
Multifamily Units
Additional Details
Gross Income
Tenant in Place
Building Details
Building Size
Year Built
Units
Construction
Listing Agency:
Crescent Sotheby's International
(504) 944-3605
Listed By:
Richard W Hebert · License LA #995701126
(504) 617-5184
Source:
Donaldjulienrealestate
Added: Sep 2
Changed: Nov 10
Last Checked: Nov 13 at 2:35PM
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
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Investment Insights
Based on property information with market context.
Built in 1920, this duplex contains two mirrored units, each with four bedrooms and one bathroom. Each side measures about 921 square feet, for a combined 1,842 square feet. The property occupies a 32' X 128' lot and may be kept as two separate residences or configured as a single-family home.
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 nearby, with access to I-10.
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 nearby, with access to I-10.
Key Highlights
- Two independent units, each with 4 bedrooms and 1 bathroom
- 1,842 square feet total; approximately 921 square feet per side
- 32' X 128' lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,439
Cap Rate
8.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$428,780
$428.8K
Cap Rate 7%
$306,271
$306.3K
Cap Rate 9%
$238,211
$238.2K
Market Conditions
NOI Build-Up for 1,842 SF
Gross rent
$42.9K $23.28/SF
− Vacancy
−$3.9K −$2.12/SF
EGI
$39.0K $21.16/SF
− OpEx
−$17.5K −$9.52/SF
NOI
$21.4K $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%
$428,780
Cap Rate 7%
$306,271
Cap Rate 9%
$238,211
Alternative Uses
Best Use
Multifamily LT 5
$333.2K
$291.6K – $388.7K
NOI $23,324 @ 7.0% cap · market cap 9.37%
Second Best
Apartment 5plus
$306.3K
$268.0K – $357.3K
NOI $21,439 @ 7.0% cap · market cap 8.61%
Theoretical Best
Office A
$468.2K
$409.7K – $546.2K
NOI $32,772 @ 7.0% cap · market cap 13.16%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road 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
$385,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in New Orleans, LA
Properties on Market for Duplexes in New Orleans
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two matching residences offer independent living spaces, with the option to retain them separately or combine them into one home.
Where is this duplex located?
The property is located at 1639 N Villere Street New Orleans, LA.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Two independent units, each with 4 bedrooms and 1 bathroom; 1,842 square feet total; approximately 921 square feet per side; 32' X 128' lot
