Updated Two-Unit
For Sale
$259,000
1740 Abundance St, New Orleans, LA 70119
Corner-lot duplex with separately metered units, central HVAC, and refreshed kitchens and bathrooms.
Property Size1,952 SF
Price / SF$132.68
Days on Market14
Property Features for 1740 Abundance St
General Information
Standard status
Active
Size
1,952 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Listing Agency:
Berkshire Hathaway HomeServices Preferred, REALTOR
(504) 799-1702
Listed By:
Seecharran Santoke · License #995695368
(504) 623-5831
Source:
Exprealty
Added: Sep 14
Changed: Sep 19
Last Checked: Sep 26 at 10:35AM
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 Berkshire Hathaway HomeServices Preferred, REALTOR
Investment Insights
Based on property information with market context.
This duplex contains two separately addressed residences with a combined 1,952 square feet of living area. Each unit offers 2 bedrooms and 2 full bathrooms, for a total of 4 bedrooms and 4 full bathrooms. Interior features include high ceilings, central air and heat, separate utility meters, and improvements to both kitchens and bathrooms. The property is currently tenant occupied.
The building occupies a corner lot at Abundance Street and George Nick Conner Drive in New Orleans. Its location provides access to the Fair Grounds, shopping, dining, and other area amenities. The two residences are identified as 1740 Abundance Street and 2940 George Nick Conner Drive.
The building occupies a corner lot at Abundance Street and George Nick Conner Drive in New Orleans. Its location provides access to the Fair Grounds, shopping, dining, and other area amenities. The two residences are identified as 1740 Abundance Street and 2940 George Nick Conner Drive.
Key Highlights
- Two‑unit duplex with 1,952 square feet of living space
- Each unit includes 2 bedrooms and 2 full bathrooms
- 4 bedrooms and 4 full bathrooms across the property
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
$22,719
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
8.77%
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%
$454,380
$454.4K
Cap Rate 7%
$324,557
$324.6K
Cap Rate 9%
$252,433
$252.4K
Market Conditions
NOI Build-Up for 1,952 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
$45.4K $23.28/SF
− Vacancy
−$4.1K −$2.12/SF
EGI
$41.3K $21.16/SF
− OpEx
−$18.6K −$9.52/SF
NOI
$22.7K $11.64/SF
Area
ZIP 70119
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 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%
$454,380
Cap Rate 7%
$324,557
Cap Rate 9%
$252,433
Alternative Uses
Best Use
Multifamily LT 5
$353.1K
$309.0K – $412.0K
NOI $24,717 @ 7.0% cap · market cap 9.54%
Second Best
Apartment 5plus
$324.6K
$284.0K – $378.7K
NOI $22,719 @ 7.0% cap · market cap 8.77%
Theoretical Best
Office A
$510.8K
$446.9K – $595.9K
NOI $35,754 @ 7.0% cap · market cap 13.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
713
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
Check the figures for this property
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 - Corner-lot duplex with separately metered units, central HVAC, and refreshed kitchens and bathrooms.
Where is this duplex located?
The property is located at 1740 Abundance St New Orleans, LA.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,952 square feet of living space; Each unit includes 2 bedrooms and 2 full bathrooms; 4 bedrooms and 4 full bathrooms across the property
