Renovated
For Sale
$352,000
1820-22 North Derbigny Street, New Orleans, LA 70116
Two occupied residences offer separate utilities, private parking, and flexible ownership options.
Property Size1,802 SF
Price / SF$195.34
Days on Market118
Property Features for 1820-22 North Derbigny Street
General Information
Standard status
Active
Size
1,802 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Occupancy
100%
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Amenities
Central Air
Central
1
4
In Unit
Asphalt
Other
Pillar/Post/Pier
Porch
Building Details
Year Built
1920
Year Renovated
2021
Listing Agency:
Dreux Perry & CO, LLC
(504) 473-0661
Listed By:
Brittani Simms · License #995695171
(504) 473-0661
Source:
Compass
Added: Apr 29
Changed: Aug 22
Last Checked: Aug 23 at 11:10AM
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 Dreux Perry & CO, LLC
Investment Insights
Based on property information with market context.
This duplex at 1820-22 North Derbigny Street contains 1,802 square feet across two residences, each arranged with 2 bedrooms and 2 bathrooms. The property was updated in 2021 with quartz countertops, open living areas, high ceilings, exposed brick details, central HVAC, separate utilities, and off-street parking. A porch adds exterior living space.
Both units are occupied, supporting continued rental use while retaining the option for an owner to live in one residence. The property is positioned between the Marigny, Bywater, French Quarter, and Downtown New Orleans, with restaurants, entertainment, hospitals, universities, and major employment centers identified in the surrounding area.
Both units are occupied, supporting continued rental use while retaining the option for an owner to live in one residence. The property is positioned between the Marigny, Bywater, French Quarter, and Downtown New Orleans, with restaurants, entertainment, hospitals, universities, and major employment centers identified in the surrounding area.
Key Highlights
- 1,802 SF duplex with two 2‑bedroom, 2‑bathroom units
- Renovated in 2021 with quartz countertops and modern finishes
- Both units currently occupied
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
$22,818
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
6.48%
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%
$456,360
$456.4K
Cap Rate 7%
$325,971
$326.0K
Cap Rate 9%
$253,533
$253.5K
Market Conditions
NOI Build-Up for 1,802 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
$35.7K $19.80/SF
− Vacancy
−$3.1K −$1.71/SF
EGI
$32.6K $18.09/SF
− OpEx
−$9.8K −$5.43/SF
NOI
$22.8K $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%
$456,360
Cap Rate 7%
$325,971
Cap Rate 9%
$253,533
Alternative Uses
Best Use
Multifamily LT 5
$326.0K
$285.2K – $380.3K
NOI $22,818 @ 7.0% cap · market cap 6.48%
Second Best
Apartment 5plus
$299.6K
$262.2K – $349.6K
NOI $20,973 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$458.0K
$400.8K – $534.4K
NOI $32,061 @ 7.0% cap · market cap 9.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,537
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two occupied residences offer separate utilities, private parking, and flexible ownership options.
Where is this duplex located?
The property is located at 1820-22 North Derbigny Street New Orleans, LA.
What is the asking price?
The asking price for this property is $352,000.
What are key features of this property?
This property features: 1,802 SF duplex with two 2‑bedroom, 2‑bathroom units; Renovated in 2021 with quartz countertops and modern finishes; Both units currently occupied
