2020-Built Duplex with Outdoor
New
For Sale
$415,000
1905-07 EAGLE Street, New Orleans, LA 70118
New Orleans, LA
Property Size2,094 SF
Price / SF$198.19
Days on Market4
Property Features for 1905-07 EAGLE Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 4, Bedroom 2, Bedroom 6, Bedroom 5, Bedroom 1
Standard status
Active
Size
2,094 SF
Amenities
private courtyard garden
porch
patio deck
sun shade
off-street parking
low-maintenance yards
Building Details
Year built
2020
Listing Agency:
Engel & Volkers New Orleans · Engel & Völkers
(504) 234-5000
Listed By:
Tiffany Dickerson
Added: Sep 11
Changed: Sep 12
Last Checked: Sep 14 at 10:06AM
MLS# 2569714
Copyright © 2026 Engel & Völkers. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2020-built duplex contains 2,094 square feet and is configured as two residences, each with 3 bedrooms and 2 bathrooms. Both units include open kitchen and living areas, private exterior space, and dedicated off-street parking. One residence features a courtyard garden and porch, while the other includes two low-maintenance yards with a patio deck and sun shade.
The property is located at 1905-07 Eagle Street in New Orleans, within the Leonidas Carrollton area and ZIP code 70118. Its two-unit layout, separate outdoor areas, and parking assigned to each residence provide a clearly defined physical configuration for residential occupancy.
The property is located at 1905-07 Eagle Street in New Orleans, within the Leonidas Carrollton area and ZIP code 70118. Its two-unit layout, separate outdoor areas, and parking assigned to each residence provide a clearly defined physical configuration for residential occupancy.
Key Highlights
- 2,094‑square‑foot duplex built in 2020
- Two units, each with 3 bedrooms and 2 bathrooms
- Dedicated off‑street parking for both 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
$26,515
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
6.39%
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%
$530,300
$530.3K
Cap Rate 7%
$378,786
$378.8K
Cap Rate 9%
$294,611
$294.6K
Market Conditions
NOI Build-Up for 2,094 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
$41.5K $19.80/SF
− Vacancy
−$3.6K −$1.71/SF
EGI
$37.9K $18.09/SF
− OpEx
−$11.4K −$5.43/SF
NOI
$26.5K $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%
$530,300
Cap Rate 7%
$378,786
Cap Rate 9%
$294,611
Alternative Uses
Best Use
Multifamily LT 5
$378.8K
$331.4K – $441.9K
NOI $26,515 @ 7.0% cap · market cap 6.39%
Second Best
Apartment 5plus
$348.2K
$304.7K – $406.2K
NOI $24,372 @ 7.0% cap · market cap 5.87%
Theoretical Best
Office A
$532.2K
$465.7K – $620.9K
NOI $37,256 @ 7.0% cap · market cap 8.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
901
Businesses Nearby
Explore this area
Business Placement
Demographics for 70118, LA
35,635
Population
15,464
Households
2.3
Avg Household Size
31
Median Age
54%
College-Educated
92%
High-School Grad
4.6 sq mi
ZIP Area
7,747
Density / Sq Mi
$62,665
Median Household Income
$28,199
Median Earnings
$1,257
Median Rent
$451,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers private outdoor space and dedicated off-street parking.
Where is this duplex located?
The property is located at 1905-07 EAGLE Street New Orleans, LA.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: 2,094‑square‑foot duplex built in 2020; Two units, each with 3 bedrooms and 2 bathrooms; Dedicated off‑street parking for both units
