Move-In Ready
For Sale
$200,000
Pending
1814 16 FRENCHMEN Street, New Orleans, LA 70116
Two-unit property with wood and ceramic flooring, window heating and cooling units, and a spacious backyard.
Property Size1,431 SF
Days on Market487
Property Features for 1814 16 FRENCHMEN Street
General Information
Standard status
Pending
Size
1,431 SF
Property subtype
Multi Family
Additional Details
Furnished
Yes
Multifamily Units
2
Amenities
window blinds
window unit A/C and heating
washer & dryer
new refrigerator
backyard space
Building Details
Year Built
1970
Buildings
1
Listing Agency:
KELLER WILLIAMS REALTY 504-207-2007
(504) 207-2007
Listed By:
Joan Harris · License #000036228
(504) 460-8978
Source:
Exitrealty
Added: May 6, 2025
Changed: Aug 29
Last Checked: Aug 29 at 4:53PM
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 KELLER WILLIAMS REALTY 504-207-2007
Investment Insights
Based on property information with market context.
This 1970 duplex contains two residential units with five rooms on each side. Interior finishes include wood and ceramic flooring, while window units provide air conditioning and heating. Each unit also offers two closets for storage.
The property includes window blinds throughout, and onsite furnishings and appliances convey. The 1816 unit includes a washer and dryer along with a new refrigerator. A large backyard provides outdoor space for recreation, planting, or a future deck. The property is located in an “X” flood Zone.
The property includes window blinds throughout, and onsite furnishings and appliances convey. The 1816 unit includes a washer and dryer along with a new refrigerator. A large backyard provides outdoor space for recreation, planting, or a future deck. The property is located in an “X” flood Zone.
Key Highlights
- Two‑unit duplex at 1814 16 FRENCHMEN Street, New Orleans, LA 70116
- Five rooms on both sides, with two closets in each unit
- Wood and ceramic flooring throughout the units
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
$18,120
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
9.06%
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%
$362,400
$362.4K
Cap Rate 7%
$258,857
$258.9K
Cap Rate 9%
$201,333
$201.3K
Market Conditions
NOI Build-Up for 1,431 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
$28.3K $19.80/SF
− Vacancy
−$2.4K −$1.71/SF
EGI
$25.9K $18.09/SF
− OpEx
−$7.8K −$5.43/SF
NOI
$18.1K $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 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%
$362,400
Cap Rate 7%
$258,857
Cap Rate 9%
$201,333
Alternative Uses
Best Use
Multifamily LT 5
$258.9K
$226.5K – $302.0K
NOI $18,120 @ 7.0% cap · market cap 9.06%
Second Best
Apartment 5plus
$237.9K
$208.2K – $277.6K
NOI $16,655 @ 7.0% cap · market cap 8.33%
Theoretical Best
Office A
$363.7K
$318.3K – $424.3K
NOI $25,460 @ 7.0% cap · market cap 12.73%
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
1,314
Businesses Nearby
Explore this area
Business Placement
Demographics for 70116, LA
10,676
Population
9,620
Households
1.1
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
8,212
Density / Sq Mi
$45,580
Median Household Income
$34,849
Median Earnings
$1,190
Median Rent
$385,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with wood and ceramic flooring, window heating and cooling units, and a spacious backyard.
Where is this duplex located?
The property is located at 1814 16 FRENCHMEN Street New Orleans, LA.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Two‑unit duplex at 1814 16 FRENCHMEN Street, New Orleans, LA 70116; Five rooms on both sides, with two closets in each unit; Wood and ceramic flooring throughout the units
