Updated Corner-Lot
New
For Sale
$259,000
1740 ABUNDANCE Street, New Orleans, LA 70119
Multi-Family, Traditional, New Orleans, LA
Property Size1,952 SF
Price / SF$132.68
Days on Market3
Property Features for 1740 ABUNDANCE Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Exterior features
Fence
Fencing
Fenced
Lot features
Regular
Standard status
Active
APN
37W314420
Size
1,952 SF
Taxes and HOA fees
Tax Description
SQ 1784 LOT 4 ABUNDANCE ST AND GEORGE N CONNER DR 39X120 1740 ABUNDANCE ST 2940 GEORGE N CONNOR DR
Legal Description
SQ 1784 LOT 4 ABUNDANCE ST AND GEORGE N CONNER DR 39X120 1740 ABUNDANCE ST 2940 GEORGE N CONNOR DR
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
high ceilings
central air and heat
separate meters
Building Details
Year built
1952
Floors in Building
1
Number of units
2
Roof type
Flat, Asbestos Shingle
Architectural style
Other
Listing Agency:
Berkshire Hathaway HomeServices Preferred, REALTOR
(504) 799-1702
Listed By:
Seecharran Santoke · License #995695368
(504) 623-5831
Added: Sep 14
Changed: Sep 16
Last Checked: Sep 16 at 2:06PM
MLS# 2577123
Copyright © 2026 New Orleans Metropolitan 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 contains two independent residences totaling 1,952 square feet, with each unit configured as a two-bedroom, two-bathroom home. The property was built in 1952 and includes high ceilings, central air and heat, separate utility meters, and improvements to both kitchens and bathrooms. A fence encloses the corner-lot property, and the roof includes flat and asbestos shingle sections.
The residences are addressed as 1740 Abundance Street and 2940 George Nick Conner Drive in New Orleans. The property is tenant occupied and has public water service. Its location provides access to the Fair Grounds, shopping, dining, and other New Orleans amenities.
The residences are addressed as 1740 Abundance Street and 2940 George Nick Conner Drive in New Orleans. The property is tenant occupied and has public water service. Its location provides access to the Fair Grounds, shopping, dining, and other New Orleans amenities.
Key Highlights
- Two units with 2 bedrooms and 2 full bathrooms each
- 1,952 square feet of combined living space
- Separate utility meters for each residence
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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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately metered residences with central HVAC and refreshed kitchens and bathrooms.
Where is this duplex located?
The property is located at 1740 ABUNDANCE Street 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 units with 2 bedrooms and 2 full bathrooms each; 1,952 square feet of combined living space; Separate utility meters for each residence
