Renovated Duplex with Covered
For Sale
$325,000
1913-15 Fourth St, New Orleans, LA 70113
Two distinct residences provide flexible living arrangements, private outdoor areas, and laundry facilities within each unit.
Property Size1,310 SF
Price / SF$248.09
Days on Market45
Property Features for 1913-15 Fourth St
General Information
Standard status
Active
Size
1,310 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Amenities
in-unit laundry
fenced backyard
covered patio
oversized covered front porch
front yard
Building Details
Year Built
1919
Year Renovated
2019
Buildings
1
Listing Agency:
McEnery Residential, LLC
(504) 606-0466
Listed By:
Suzanna Dishman · License #995705288
Source:
Fiorellaavenue
Added: Jul 19
Changed: Aug 29
Last Checked: Aug 30 at 8:28PM
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 McEnery Residential, LLC
Investment Insights
Based on property information with market context.
Renovated in 2019, this duplex combines two separate residences with practical layouts and updated interiors. The larger unit includes three bedrooms, one bathroom, generous living space, in-unit laundry, and private entry to the fenced rear yard and covered patio. Its primary bedroom follows a traditional layout rather than a shotgun-style arrangement. The second residence offers one bedroom, one bathroom, and its own laundry setup.
A covered front porch adds outdoor living space, while the property’s placement three blocks from St. Charles Avenue and the Mardi Gras parade route provides proximity to the avenue’s restaurants, shopping, and activity. The property is located in an X Preferred Flood Zone. Both units may be conveyed furnished with an acceptable offer, and the layout supports owner occupancy, guest accommodations, or long- and short-term rental use.
A covered front porch adds outdoor living space, while the property’s placement three blocks from St. Charles Avenue and the Mardi Gras parade route provides proximity to the avenue’s restaurants, shopping, and activity. The property is located in an X Preferred Flood Zone. Both units may be conveyed furnished with an acceptable offer, and the layout supports owner occupancy, guest accommodations, or long- and short-term rental use.
Key Highlights
- Two‑unit duplex with a 3‑bedroom, 1‑bath owner's residence and a 1‑bedroom, 1‑bath second unit
- Renovated in 2019 with updated interiors and flowing floor plans
- In‑unit laundry in both residences
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
$16,588
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
5.10%
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%
$331,760
$331.8K
Cap Rate 7%
$236,971
$237.0K
Cap Rate 9%
$184,311
$184.3K
Market Conditions
NOI Build-Up for 1,310 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
$25.9K $19.80/SF
− Vacancy
−$2.2K −$1.71/SF
EGI
$23.7K $18.09/SF
− OpEx
−$7.1K −$5.43/SF
NOI
$16.6K $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%
$331,760
Cap Rate 7%
$236,971
Cap Rate 9%
$184,311
Alternative Uses
Best Use
Multifamily LT 5
$237.0K
$207.4K – $276.5K
NOI $16,588 @ 7.0% cap · market cap 5.10%
Second Best
Apartment 5plus
$217.8K
$190.6K – $254.1K
NOI $15,247 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$333.0K
$291.3K – $388.5K
NOI $23,307 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,431
Businesses Nearby
Explore this area
Business Placement
Demographics for 70113, LA
8,569
Population
5,512
Households
1.6
Avg Household Size
37
Median Age
27%
College-Educated
74%
High-School Grad
0.9 sq mi
ZIP Area
9,521
Density / Sq Mi
$36,897
Median Household Income
$31,126
Median Earnings
$960
Median Rent
$258,500
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 distinct residences provide flexible living arrangements, private outdoor areas, and laundry facilities within each unit.
Where is this duplex located?
The property is located at 1913-15 Fourth St New Orleans, LA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two‑unit duplex with a 3‑bedroom, 1‑bath owner's residence and a 1‑bedroom, 1‑bath second unit; Renovated in 2019 with updated interiors and flowing floor plans; In‑unit laundry in both residences
