Duplex with
For Sale
$599,000
1721-23 Third St, New Orleans, LA 70130
Residential Income, New Orleans, LA
Property Size3,044 SF
Lot Size0.10 Acres
Price / SF$196.78
Days on Market64
Property Features for 1721-23 Third St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
On Street
Window features
Window Treatments, Storm Window(s)
Patio and Porch features
Patio, Porch
Interior features
9+ Ft. Ceiling, Master Bath, Walk-In Closet(s)
Exterior features
Balcony, Landscaped, Lighting
Fencing
Chain Link
Appliances
Gas Cooktop, Dishwasher, Disposal, Freezer, Microwave, Range/Oven, Refrigerator
Subdivision
Coliseum Square
Elementary school district
Orleans Parish
Middle school district
Orleans Parish
High school district
Orleans Parish
Directions
ST. CHARLES TO 2ND, TURN RIGHT, GO 2 BLOCKS, TURN LEFT TO THIRD, THEN LEFT ON THIRD, HOUSE ON LEFT SIDE. Bounding Streets: ST. CHARLES, FOURTH, SECOND
Standard status
Active
Size
3,044 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Description
Sq 246 Lot K Third St 34X128 = 4352 Sq Ft 1721/23 Third St File #16966
Legal Description
Sq 246 Lot K Third St 34X128 = 4352 Sq Ft 1721/23 Third St File #16966
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Building Details
Flooring type
Wood
Building materials
Vinyl Siding, Frame
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
Dawson Grey Real Estate
(225) 325-5555
Listed By:
Tyler Terrebonne · License #995707786
(225) 331-8011
Added: Aug 5
Changed: Sep 15
Last Checked: Oct 7 at 3:06PM
MLS# 2026014312
Copyright © 2026 Greater Baton Rouge 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.
This duplex at 1721-23 Third St in New Orleans provides 3,044 square feet of residential space on a 0.101-acre lot. The property includes wood flooring, 9+ ft. ceilings, a master bath, walk-in closet(s), central heating, central air, and ceiling fans. A porch, patio, balcony, chain-link fencing, landscaping, and exterior lighting add to the physical improvements.
The kitchen package includes a gas cooktop, dishwasher, disposal, freezer, microwave, range/oven, and refrigerator. Public water and public sewer serve the property, with cable available. Parking is provided on street, and the building features vinyl siding with frame construction and a shingle roof.
The kitchen package includes a gas cooktop, dishwasher, disposal, freezer, microwave, range/oven, and refrigerator. Public water and public sewer serve the property, with cable available. Parking is provided on street, and the building features vinyl siding with frame construction and a shingle roof.
Key Highlights
- 3,044 square feet on a 0.101‑acre lot
- Duplex configuration at 1721‑23 Third St, New Orleans, LA 70130
- 9+ ft. ceilings, master bath, and walk‑in closet(s)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,545
Cap Rate
6.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$770,900
$770.9K
Cap Rate 7%
$550,643
$550.6K
Cap Rate 9%
$428,278
$428.3K
Market Conditions
NOI Build-Up for 3,044 SF
Gross rent
$60.3K $19.80/SF
− Vacancy
−$5.2K −$1.71/SF
EGI
$55.1K $18.09/SF
− OpEx
−$16.5K −$5.43/SF
NOI
$38.5K $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%
$770,900
Cap Rate 7%
$550,643
Cap Rate 9%
$428,278
Alternative Uses
Best Use
Multifamily LT 5
$550.6K
$481.8K – $642.4K
NOI $38,545 @ 7.0% cap · market cap 6.43%
Second Best
Apartment 5plus
$506.1K
$442.9K – $590.5K
NOI $35,429 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$773.7K
$677.0K – $902.6K
NOI $54,158 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,125
Businesses Nearby
Explore this area
Business Placement
Demographics for 70130, LA
14,521
Population
10,927
Households
1.3
Avg Household Size
38
Median Age
64%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
6,915
Density / Sq Mi
$82,758
Median Household Income
$52,492
Median Earnings
$1,410
Median Rent
$529,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with wood flooring, central air, and a covered porch.
Where is this duplex located?
The property is located at 1721-23 Third St New Orleans, LA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 3,044 square feet on a 0.101‑acre lot; Duplex configuration at 1721‑23 Third St, New Orleans, LA 70130; 9+ ft. ceilings, master bath, and walk‑in closet(s)
