Updated Two-Unit
For Sale
$439,900
1908-10 Broadway Street, New Orleans, LA 70118
Separate three-bedroom residences offer spacious layouts, private outdoor areas, and shared off-street parking.
Property Size2,743 SF
Price / SF$160.37
Days on Market292
Property Features for 1908-10 Broadway Street
General Information
Standard status
Active
Size
2,743 SF
Total Parking Spaces
2
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 3BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
laundry
balcony
private patio
Central Air
Central
1
2
6
3
Asphalt
Other
Pillar/Post/Pier
Wood Siding
Porch
Building Details
Year Built
1935
Listing Agency:
Pintat Realty LLC
Listed By:
Traci Kestler · License #995684025
(504) 975-5971
Source:
Compass
Added: Nov 14, 2025
Changed: Aug 31
Last Checked: Sep 1 at 10:38PM
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 Pintat Realty LLC
Investment Insights
Based on property information with market context.
This 2,743-square-foot duplex, built in 1935, contains two separate residences with spacious room layouts and wood and tile flooring throughout. The lower home at 1908 includes three bedrooms, 1.5 baths, and a larger grassed yard. The upper residence at 1910 has three bedrooms, one bath, a balcony, and a private rear patio. Both kitchens are described as large, and each unit has dedicated laundry space in the detached outdoor building.
Major building systems have been replaced, including the wiring, copper plumbing, windows, sewer, and central HVAC. The HVAC serving 1908 is approximately 1.5 years old. The property operates with electric systems; gas service is capped but remains available. A shared driveway provides off-street parking for 2 vehicles.
Major building systems have been replaced, including the wiring, copper plumbing, windows, sewer, and central HVAC. The HVAC serving 1908 is approximately 1.5 years old. The property operates with electric systems; gas service is capped but remains available. A shared driveway provides off-street parking for 2 vehicles.
Key Highlights
- 2,743 SF duplex built in 1935
- Two residences, each with 3 bedrooms
- Lower unit includes 1.5 baths and a larger yard
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
$34,733
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
7.90%
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%
$694,660
$694.7K
Cap Rate 7%
$496,186
$496.2K
Cap Rate 9%
$385,922
$385.9K
Market Conditions
NOI Build-Up for 2,743 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
$54.3K $19.80/SF
− Vacancy
−$4.7K −$1.71/SF
EGI
$49.6K $18.09/SF
− OpEx
−$14.9K −$5.43/SF
NOI
$34.7K $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%
$694,660
Cap Rate 7%
$496,186
Cap Rate 9%
$385,922
Alternative Uses
Best Use
Multifamily LT 5
$496.2K
$434.2K – $578.9K
NOI $34,733 @ 7.0% cap · market cap 7.90%
Second Best
Apartment 5plus
$456.1K
$399.1K – $532.1K
NOI $31,925 @ 7.0% cap · market cap 7.26%
Theoretical Best
Office A
$697.2K
$610.0K – $813.4K
NOI $48,803 @ 7.0% cap · market cap 11.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,085
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
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 three-bedroom residences offer spacious layouts, private outdoor areas, and shared off-street parking.
Where is this duplex located?
The property is located at 1908-10 Broadway Street New Orleans, LA.
What is the asking price?
The asking price for this property is $439,900.
What are key features of this property?
This property features: 2,743 SF duplex built in 1935; Two residences, each with 3 bedrooms; Lower unit includes 1.5 baths and a larger yard
