Two-Unit Residential
1816-1818 Allen Street, New Orleans, LA 70116
For Sale
$225,000
Both residences feature two bedrooms, an open living area, and a kitchen with a breakfast bar.
Property Size1,500 SF
Price / SF$150
Days on Market98
Property Features for 1816-1818 Allen Street
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Building Details
Building Size
Year Built
Units
Listing Agency:
Boyd Realtors, LLC
(504) 533-8701
Listed By:
Arianne S Bovie
(504) 616-3395
Source:
Cypresskeyrealty
Added: Aug 9
Changed: Nov 12
Last Checked: Nov 13 at 2:12PM
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 Boyd Realtors, LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 2024, this 1,500-square-foot duplex contains two residences, each with two bedrooms and one bathroom. Open living areas feature high ceilings, ceiling fans, and modern lighting. The kitchens include breakfast bars and cabinetry, while wood-look flooring extends throughout. Both bedrooms receive natural light, and one bedroom has access to the rear outdoor area.
The property is near Louis Armstrong Park and Washington Square in New Orleans’ Seventh Ward.
The property is near Louis Armstrong Park and Washington Square in New Orleans’ Seventh Ward.
Key Highlights
- Two residences, each with 2 bedrooms and 1 bathroom
- 1,500 square feet; built in 2024
- Open living areas with high ceilings, ceiling fans, and modern lighting
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,994
Cap Rate
8.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$379,880
$379.9K
Cap Rate 7%
$271,343
$271.3K
Cap Rate 9%
$211,044
$211.0K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$29.7K $19.80/SF
− Vacancy
−$2.6K −$1.71/SF
EGI
$27.1K $18.09/SF
− OpEx
−$8.1K −$5.43/SF
NOI
$19.0K $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 Rate 5%
$379,880
Cap Rate 7%
$271,343
Cap Rate 9%
$211,044
Alternative Uses
Best Use
Multifamily LT 5
$271.3K
$237.4K – $316.6K
NOI $18,994 @ 7.0% cap · market cap 8.44%
Second Best
Apartment 5plus
$249.4K
$218.2K – $291.0K
NOI $17,458 @ 7.0% cap · market cap 7.76%
Theoretical Best
Office A
$381.3K
$333.6K – $444.8K
NOI $26,688 @ 7.0% cap · market cap 11.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
1,178
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
$385,100
Median Home Value
Market
Average Price Trend$/SF for Duplexes in New Orleans, LA
Properties on Market for Duplexes in New Orleans
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences feature two bedrooms, an open living area, and a kitchen with a breakfast bar.
Where is this duplex located?
The property is located at 1816-1818 Allen Street New Orleans, LA.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 bathroom; 1,500 square feet; built in 2024; Open living areas with high ceilings, ceiling fans, and modern lighting
