Historic Duplex with Original
For Sale
$1,200,000
1911 15 Octavia St, New Orleans, LA 70115
1912 property with two residences, restored architectural features, detached garage, and flexible living or income-producing potential.
Property Size5,028 SF
Price / SF$238.66
Days on Market42
Property Features for 1911 15 Octavia St
General Information
Standard status
Active
Size
5,028 SF
Property subtype
Multi-Family
Building Details
Year Built
1912
Listing Agency:
XLV Realty LLC
(504) 952-2976
Listed By:
Caitlin Burnetz · License #995716860
Source:
Dominionplace
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 30 at 8:14PM
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 XLV Realty LLC
Investment Insights
Based on property information with market context.
Built in 1912, this approximately 5,028-square-foot duplex retains substantial historic character while incorporating meaningful updates. The first-floor residence measures approximately 1,985 square feet and includes formal living and dining rooms, an updated kitchen with breakfast area, three bedrooms, two full bathrooms, and storage adjoining the primary bedroom. The upper residence spans the second and third floors with approximately 3,043 square feet, offering a renovated kitchen, formal dining room, sunroom with balcony access, three bedrooms, two full bathrooms, a bonus room, and converted attic space.
Architectural features include high ceilings, restored main-level hardwood floors, pocket doors, transom windows, fireplace mantels, tall windows, and a butler’s pantry with built-in cabinetry and wine storage. Improvements include updated electrical wiring, plumbing replaced through the street connection, and a reconstructed north exterior wall with Hardie siding. A detached garage and basement laundry area are also included. Located in New Orleans’ Audubon neighborhood, the property can remain a duplex or be adapted for other residential configurations supported by its existing layout.
Architectural features include high ceilings, restored main-level hardwood floors, pocket doors, transom windows, fireplace mantels, tall windows, and a butler’s pantry with built-in cabinetry and wine storage. Improvements include updated electrical wiring, plumbing replaced through the street connection, and a reconstructed north exterior wall with Hardie siding. A detached garage and basement laundry area are also included. Located in New Orleans’ Audubon neighborhood, the property can remain a duplex or be adapted for other residential configurations supported by its existing layout.
Key Highlights
- Approximately 5,028 SF duplex built in 1912
- First‑floor unit offers approximately 1,985 SF with 3 bedrooms and 2 full bathrooms
- Upper unit spans approximately 3,043 SF across the second and third floors
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
$43,216
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
3.60%
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%
$864,320
$864.3K
Cap Rate 7%
$617,371
$617.4K
Cap Rate 9%
$480,178
$480.2K
Market Conditions
NOI Build-Up for 5,028 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
$67.6K $13.44/SF
− Vacancy
−$5.8K −$1.16/SF
EGI
$61.7K $12.28/SF
− OpEx
−$18.5K −$3.68/SF
NOI
$43.2K $8.60/SF
Area
ZIP 70115
Vacancy
8.64%
Lease Rate
$13.44 /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%
$864,320
Cap Rate 7%
$617,371
Cap Rate 9%
$480,178
Alternative Uses
Best Use
Multifamily LT 5
$617.4K
$540.2K – $720.3K
NOI $43,216 @ 7.0% cap · market cap 3.60%
Second Best
Apartment 5plus
$547.3K
$478.9K – $638.5K
NOI $38,310 @ 7.0% cap · market cap 3.19%
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $92,857 @ 7.0% cap · market cap 7.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,739
Businesses Nearby
Explore this area
Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
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 - 1912 property with two residences, restored architectural features, detached garage, and flexible living or income-producing potential.
Where is this duplex located?
The property is located at 1911 15 Octavia St New Orleans, LA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Approximately 5,028 SF duplex built in 1912; First‑floor unit offers approximately 1,985 SF with 3 bedrooms and 2 full bathrooms; Upper unit spans approximately 3,043 SF across the second and third floors
