Historic Triplex with Wood
For Sale
$635,000
1924-26 Esplanade Avenue, New Orleans, LA 70116
Well-maintained 1890 building with central air and gated backyard access for the two lower residences.
Property Size3,009 SF
Price / SF$211.03
Days on Market206
Property Features for 1924-26 Esplanade Avenue
General Information
Standard status
Active
Size
3,009 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Amenities
Central Air
Central
1
4
5
Inside
Asphalt
Other
2
Pillar/Post/Pier
HardiPlank Type, Wood Siding
Building Details
Year Built
1890
Listing Agency:
Compass
(504) 319-6226
Listed By:
Samara Poché · License #BROK.16376.A-ASA
(504) 319-6226
Source:
Compass
Added: Feb 6
Changed: Aug 30
Last Checked: Aug 30 at 7:04PM
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 Compass
Investment Insights
Based on property information with market context.
Built in 1890, this 3,009-square-foot triplex combines historic character with updated residential features. All three residences include central air and heat, recessed lighting, and abundant natural light. The two lower units feature wood flooring, marble-tiled bathrooms, ceiling fans, and access to a gated backyard. One includes a decorative fireplace mantle and a kitchen equipped with a range/oven, microwave, and dishwasher; the other offers two bedrooms, granite countertops, and washer/dryer hookups.
The upper residence occupies the camelback level and is reached by a rear staircase. It includes 11.5-foot ceilings, original wood floors, oversized windows, a full kitchen with dishwasher, and a washer/dryer. The property is located at 1924-26 Esplanade Avenue in New Orleans, backs up to Bayou Road, and is described as being minutes from the French Quarter and City Park.
The upper residence occupies the camelback level and is reached by a rear staircase. It includes 11.5-foot ceilings, original wood floors, oversized windows, a full kitchen with dishwasher, and a washer/dryer. The property is located at 1924-26 Esplanade Avenue in New Orleans, backs up to Bayou Road, and is described as being minutes from the French Quarter and City Park.
Key Highlights
- Three‑unit triplex built in 1890
- 3,009 square feet across three residences
- All units feature central air and heat
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
$38,101
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
6.00%
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%
$762,020
$762.0K
Cap Rate 7%
$544,300
$544.3K
Cap Rate 9%
$423,344
$423.3K
Market Conditions
NOI Build-Up for 3,009 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
$59.6K $19.80/SF
− Vacancy
−$5.1K −$1.71/SF
EGI
$54.4K $18.09/SF
− OpEx
−$16.3K −$5.43/SF
NOI
$38.1K $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%
$762,020
Cap Rate 7%
$544,300
Cap Rate 9%
$423,344
Alternative Uses
Best Use
Multifamily LT 5
$544.3K
$476.3K – $635.0K
NOI $38,101 @ 7.0% cap · market cap 6.00%
Second Best
Apartment 5plus
$500.3K
$437.8K – $583.7K
NOI $35,021 @ 7.0% cap · market cap 5.52%
Theoretical Best
Office A
$764.8K
$669.2K – $892.3K
NOI $53,535 @ 7.0% cap · market cap 8.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,483
Businesses Nearby
Explore this area
Business Placement
Demographics for 70116, LA
10,676
Population
9,620
Households
1.1
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
8,212
Density / Sq Mi
$45,580
Median Household Income
$34,849
Median Earnings
$1,190
Median Rent
$385,100
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?
Triplex - Well-maintained 1890 building with central air and gated backyard access for the two lower residences.
Where is this triplex located?
The property is located at 1924-26 Esplanade Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $635,000.
What are key features of this property?
This property features: Three‑unit triplex built in 1890; 3,009 square feet across three residences; All units feature central air and heat
