Duplex with Renovated Lower
For Sale
$359,000
1812 14 N Tonti Street, New Orleans, LA 70119
Two-level income property with a flexible bonus room, hardwood flooring, custom built-ins, and a renovated three-bedroom unit.
Property Size2,666 SF
Price / SF$134.66
Days on Market11
Property Features for 1812 14 N Tonti Street
General Information
Standard status
Active
Size
2,666 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1922
Listing Agency:
ENRG Global Realty, LLC
(504) 606-0466
Listed By:
Hollis Strategier · License #STRAHOLL
Source:
Thepuckettteam
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 30 at 1:35PM
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 ENRG Global Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1922, this 2,666-square-foot duplex combines period character with updates to one of its residences. The upper unit features hardwood flooring, custom built-ins, abundant natural light, and a kitchen finished with warm wood countertops. A bonus room provides additional interior flexibility. The ground-floor unit offers three bedrooms and one bathroom following a 2018 renovation with updated finishes.
The property is positioned a short distance from Bayou St. John, City Park, and the Fairgrounds. Listing imagery has been digitally rendered to illustrate the property's potential and should be considered accordingly.
The property is positioned a short distance from Bayou St. John, City Park, and the Fairgrounds. Listing imagery has been digitally rendered to illustrate the property's potential and should be considered accordingly.
Key Highlights
- 2,666‑square‑foot duplex built in 1922
- Ground‑floor unit includes 3 bedrooms and 1 bathroom
- Lower unit renovated in 2018 with updated finishes
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
$31,029
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
8.64%
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%
$620,580
$620.6K
Cap Rate 7%
$443,271
$443.3K
Cap Rate 9%
$344,767
$344.8K
Market Conditions
NOI Build-Up for 2,666 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
$62.1K $23.28/SF
− Vacancy
−$5.6K −$2.12/SF
EGI
$56.4K $21.16/SF
− OpEx
−$25.4K −$9.52/SF
NOI
$31.0K $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%
$620,580
Cap Rate 7%
$443,271
Cap Rate 9%
$344,767
Alternative Uses
Best Use
Multifamily LT 5
$482.3K
$422.0K – $562.6K
NOI $33,758 @ 7.0% cap · market cap 9.40%
Second Best
Apartment 5plus
$443.3K
$387.9K – $517.2K
NOI $31,029 @ 7.0% cap · market cap 8.64%
Theoretical Best
Office A
$697.6K
$610.4K – $813.9K
NOI $48,833 @ 7.0% cap · market cap 13.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
972
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-level income property with a flexible bonus room, hardwood flooring, custom built-ins, and a renovated three-bedroom unit.
Where is this duplex located?
The property is located at 1812 14 N Tonti Street New Orleans, LA.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: 2,666‑square‑foot duplex built in 1922; Ground‑floor unit includes 3 bedrooms and 1 bathroom; Lower unit renovated in 2018 with updated finishes
