Two-Unit Duplex with
For Sale
$199,500
1719 21 N Broad St, New Orleans, LA 70119
One-bedroom main unit and separate studio provide a flexible residential income configuration.
Property Size953 SF
Price / SF$209.34
Days on Market41
Property Features for 1719 21 N Broad St
General Information
Standard status
Active
Size
953 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 1BR, 1 x studio
Multifamily Units
2
Building Details
Year Built
1923
Listing Agency:
LPT Realty, LLC.
Listed By:
Dequontis Saul · License #995702509
(504) 732-9347
Source:
Dominionplace
Added: Jul 26
Changed: Aug 28
Last Checked: Sep 4 at 11:10AM
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 LPT Realty, LLC.
Investment Insights
Based on property information with market context.
This duplex property contains a one-bedroom primary unit and a separate studio, creating a straightforward two-unit layout. The 953-square-foot property was built in 1923 and is currently tenant-occupied.
Located at 1719 21 N Broad St in New Orleans, the property offers a compact multifamily format suited to residential income use. Showings are available by appointment, and tenants should not be disturbed.
Located at 1719 21 N Broad St in New Orleans, the property offers a compact multifamily format suited to residential income use. Showings are available by appointment, and tenants should not be disturbed.
Key Highlights
- One‑bedroom main unit paired with a separate studio
- 953‑square‑foot duplex property
- Built in 1923
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
$12,067
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
6.05%
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%
$241,340
$241.3K
Cap Rate 7%
$172,386
$172.4K
Cap Rate 9%
$134,078
$134.1K
Market Conditions
NOI Build-Up for 953 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
$18.9K $19.80/SF
− Vacancy
−$1.6K −$1.71/SF
EGI
$17.2K $18.09/SF
− OpEx
−$5.2K −$5.43/SF
NOI
$12.1K $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%
$241,340
Cap Rate 7%
$172,386
Cap Rate 9%
$134,078
Alternative Uses
Best Use
Multifamily LT 5
$172.4K
$150.8K – $201.1K
NOI $12,067 @ 7.0% cap · market cap 6.05%
Second Best
Apartment 5plus
$158.5K
$138.7K – $184.9K
NOI $11,092 @ 7.0% cap · market cap 5.56%
Theoretical Best
Office A
$249.4K
$218.2K – $290.9K
NOI $17,456 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,066
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - One-bedroom main unit and separate studio provide a flexible residential income configuration.
Where is this duplex located?
The property is located at 1719 21 N Broad St New Orleans, LA.
What is the asking price?
The asking price for this property is $199,500.
What are key features of this property?
This property features: One‑bedroom main unit paired with a separate studio; 953‑square‑foot duplex property; Built in 1923
