Renovated Duplex with Covered
For Sale
$325,000
1913-15 FOURTH Street, New Orleans, LA 70113
Multi-Family, Shot Gun, New Orleans, LA
Property Size1,310 SF
Lot Size0.07 Acres
Price / SF$248.09
Days on Market48
Property Features for 1913-15 FOURTH Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Patio and Porch features
Porch
Exterior features
Fence, Porch
Fencing
Fenced
Lot features
Regular
Standard status
Active
APN
412202417
Size
1,310 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Description
SQ 274 LOT 16 FOURTH ST 30X96 = 2880 SQ FT DBLE 1913/15 FOURTH ST FILE #17332
Legal Description
SQ 274 LOT 16 FOURTH ST 30X96 = 2880 SQ FT DBLE 1913/15 FOURTH ST FILE #17332
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
front yard
covered patio
in-unit laundry
fenced backyard
covered front porch
Building Details
Year built
1919
Floors in Building
1
Number of units
2
Roof type
Asphalt, Shingle
Architectural style
Other
Listing Agency:
McEnery Residential, LLC
(504) 605-4400
Listed By:
Suzanna Dishman · License #995695425
(917) 842-2971
Added: Jul 17
Changed: Aug 26
Last Checked: Sep 2 at 1:06AM
MLS# 2568259
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. 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.
Renovated in 2019, this 1,310-square-foot duplex occupies a 0.0661-acre lot and includes two distinct residences. The larger unit provides three bedrooms, one bathroom, living space, in-unit laundry, and private access to a fenced rear yard with a covered patio. The second residence has one bedroom, one bathroom, and its own laundry. A covered front porch adds usable outdoor space, while central heating and central air serve the property. The structure dates to 1919 and has an asphalt shingle roof with public water service.
The property is located at 1913-15 Fourth Street in New Orleans, three blocks from St. Charles Avenue and its parade route. Restaurants and shopping are minutes away, with Baronne Street and the St. Charles Avenue corridor nearby. The duplex is situated in an X Preferred Flood Zone.
The property is located at 1913-15 Fourth Street in New Orleans, three blocks from St. Charles Avenue and its parade route. Restaurants and shopping are minutes away, with Baronne Street and the St. Charles Avenue corridor nearby. The duplex is situated in an X Preferred Flood Zone.
Key Highlights
- 1,310‑square‑foot duplex on a 0.0661‑acre lot
- Renovated in 2019
- Three‑bedroom, one‑bath primary residence plus a one‑bedroom, one‑bath second unit
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
Property Profile
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 residences offer a three-bedroom primary unit and a separate one-bedroom companion unit.
Where is this duplex located?
The property is located at 1913-15 FOURTH Street 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: 1,310‑square‑foot duplex on a 0.0661‑acre lot; Renovated in 2019; Three‑bedroom, one‑bath primary residence plus a one‑bedroom, one‑bath second unit
