Tenant-Occupied
For Sale
$290,000
1823 25 Murl Street, New Orleans, LA 70114
Separate residential units include updated air conditioning, bathroom, and flooring improvements.
Property Size1,292 SF
Days on Market15
Property Features for 1823 25 Murl Street
General Information
Standard status
Active
Size
1,292 SF
Property subtype
Multi Family Home
Occupancy
100%
Additional Details
Gross Income
$19,200
Building Details
Building Size
1,292 SF
Year Built
1970
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Haus Nola Realty Group, LLC
(504) 418-5118
Listed By:
Monique Brass
(504) 418-5118
Source:
Nolalivingrealty
Added: Jul 28
Changed: Aug 2
Last Checked: Aug 11 at 2:38PM
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 Haus Nola Realty Group, LLC
Investment Insights
Based on property information with market context.
Built in 1970, this duplex contains two three-bedroom, two-bath residences. Both units are currently occupied by tenants, providing an established residential income configuration. The property also suits an owner-occupant seeking separate living arrangements within a two-unit building.
Property updates include an A/C unit completed in 2021, along with improvements to the upstairs bathroom and flooring. The combination of two residential units, existing occupancy, and documented updates provides a clear operating profile for a multifamily buyer.
Property updates include an A/C unit completed in 2021, along with improvements to the upstairs bathroom and flooring. The combination of two residential units, existing occupancy, and documented updates provides a clear operating profile for a multifamily buyer.
Key Highlights
- Two 3‑bedroom, 2‑bath units
- Both units are tenant‑occupied
- A/C unit updated in 2021
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
$16,360
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
5.64%
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%
$327,200
$327.2K
Cap Rate 7%
$233,714
$233.7K
Cap Rate 9%
$181,778
$181.8K
Market Conditions
NOI Build-Up for 1,292 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
$25.6K $19.80/SF
− Vacancy
−$2.2K −$1.71/SF
EGI
$23.4K $18.09/SF
− OpEx
−$7.0K −$5.43/SF
NOI
$16.4K $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%
$327,200
Cap Rate 7%
$233,714
Cap Rate 9%
$181,778
Alternative Uses
Best Use
Multifamily LT 5
$233.7K
$204.5K – $272.7K
NOI $16,360 @ 7.0% cap · market cap 5.64%
Second Best
Apartment 5plus
$214.8K
$188.0K – $250.6K
NOI $15,037 @ 7.0% cap · market cap 5.19%
Theoretical Best
Office A
$328.4K
$287.3K – $383.1K
NOI $22,987 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
466
Businesses Nearby
Explore this area
Business Placement
Demographics for 70114, LA
23,127
Population
11,860
Households
2
Avg Household Size
38
Median Age
26%
College-Educated
86%
High-School Grad
5.1 sq mi
ZIP Area
4,535
Density / Sq Mi
$41,435
Median Household Income
$31,743
Median Earnings
$1,113
Median Rent
$194,100
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 - Separate residential units include updated air conditioning, bathroom, and flooring improvements.
Where is this duplex located?
The property is located at 1823 25 Murl Street New Orleans, LA.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Two 3‑bedroom, 2‑bath units; Both units are tenant‑occupied; A/C unit updated in 2021
