Renovated Algiers Double For
1721-23 Nunez Street New Orleans, LA 70114
1721-23 Nunez Street, New Orleans, LA, 70114
$290,000
For Sale
$290,000
Renovated double in historic Algiers, generating income with potential upside.
Property Size1,324 SF
Price / SF$219.03
Days on Market263
Property Features for 1721-23 Nunez Street
General Information
- Standard status
- Active
- Size
- 1,324 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1954
Listing Agency
Ginnie Green Realty & Associates, LLC
(504) 913-8388
Listed by
Virginia Green · License #000038232
(504) 913-8388
Source
Compass
Added: Oct 28, 2025 Checked: Jul 17 at 5:38 am
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 Ginnie Green Realty & Associates, LLC
Investment Insights
Based on property information with market context.
Located in the historic urban area of Algiers, this renovated double was updated in 2019. The property features a total of 4 bedrooms and 2 baths. Upgrades include granite countertops, central air and heat, and ceramic tile. Appliances such as a stove, microwave, refrigerator, and washer/dryer are included. The property currently generates $1,200 per month, totaling $14,400 annually, with potential for higher rents. The owner occupies one unit and is willing to leave a 40x10 shipping container on the lot, which could be converted into a 1-bedroom, 1-bath unit for additional income. The property size is 1324 square feet. Situated on the parade route, it is located minutes from the French Quarter and offers a view of the city. The property has the potential to generate $2,800 per month, plus an additional $1,200 monthly from the container home, totaling $48,000 annually.
Key Highlights
- Income‑generating property: Currently generates $14,400 annually with potential to reach $48,000.
- Renovated in 2019 with modern upgrades: Granite countertops, central air & heat, and ceramic tile.
- Includes essential appliances: Stove, microwave, refrigerator, and washer/dryer are included.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $26.2k | $19.80 |
| − Vacancy | −$2.3k | −$1.71 |
| EGI | $24.0k | $18.09 |
| − OpEx | −$7.2k | −$5.43 |
| NOI | $16.8k | $12.66 |
1,324 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$239.5K
$209.6K – $279.4K
NOI $16,765 @ 7.0% cap · market cap 5.78%
Second Best
Apartment 5plus
$220.1K
$192.6K – $256.8K
NOI $15,410 @ 7.0% cap · market cap 5.31%
Theoretical Best
Office A
$336.5K
$294.5K – $392.6K
NOI $23,556 @ 7.0% cap · market cap 8.12%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Renovated double in historic Algiers, generating income with potential upside.
Where is this duplex located?
The property is located at 1721-23 Nunez Street New Orleans, LA.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Income‑generating property: Currently generates $14,400 annually with potential to reach $48,000.; Renovated in 2019 with modern upgrades: Granite countertops, central air & heat, and ceramic tile.; Includes essential appliances: Stove, microwave, refrigerator, and washer/dryer are included.
