Corner-Lot Duplex with
For Sale
$380,000
1934-36 Delachaise Street, New Orleans, LA 70115
Tenant-occupied two-unit property with central air and a shared rear courtyard.
Property Size1,496 SF
Price / SF$254.01
Days on Market166
Property Features for 1934-36 Delachaise Street
General Information
Standard status
Active
Size
1,496 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Occupancy
100%
Additional Details
Public Transit
Yes
Multifamily Units
2
Amenities
shared courtyard
Central Air
Central
1
2
4
Asphalt
Pillar/Post/Pier
Wood Siding
Building Details
Year Built
1930
Listing Agency:
Meghan Mercadel, Broker
Listed By:
Meghan Mercadel · License #995700537
(504) 940-4752
Source:
Compass
Added: Mar 22
Changed: Sep 2
Last Checked: Sep 1 at 11:16PM
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 Meghan Mercadel, Broker
Investment Insights
Based on property information with market context.
This 1,496-square-foot duplex was built in 1930 and includes central air conditioning. The property sits on a corner lot and has wood siding, an asphalt exterior surface, and a pillar/post/pier foundation system. A shared courtyard extends behind the building for outdoor use.
Both units are occupied by tenants. The property is in Uptown New Orleans, within walking distance of St. Charles Avenue, the streetcar line, and Mardi Gras parade routes. Its two-unit configuration and existing occupancy provide a straightforward residential income property format.
Both units are occupied by tenants. The property is in Uptown New Orleans, within walking distance of St. Charles Avenue, the streetcar line, and Mardi Gras parade routes. Its two-unit configuration and existing occupancy provide a straightforward residential income property format.
Key Highlights
- 1,496‑square‑foot duplex on a corner lot
- Built in 1930
- Both units are tenant‑occupied
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
$12,858
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
3.38%
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%
$257,160
$257.2K
Cap Rate 7%
$183,686
$183.7K
Cap Rate 9%
$142,867
$142.9K
Market Conditions
NOI Build-Up for 1,496 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
$20.1K $13.44/SF
− Vacancy
−$1.7K −$1.16/SF
EGI
$18.4K $12.28/SF
− OpEx
−$5.5K −$3.68/SF
NOI
$12.9K $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%
$257,160
Cap Rate 7%
$183,686
Cap Rate 9%
$142,867
Alternative Uses
Best Use
Multifamily LT 5
$183.7K
$160.7K – $214.3K
NOI $12,858 @ 7.0% cap · market cap 3.38%
Second Best
Apartment 5plus
$162.8K
$142.5K – $190.0K
NOI $11,398 @ 7.0% cap · market cap 3.00%
Theoretical Best
Office A
$394.7K
$345.4K – $460.5K
NOI $27,628 @ 7.0% cap · market cap 7.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,878
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 - Tenant-occupied two-unit property with central air and a shared rear courtyard.
Where is this duplex located?
The property is located at 1934-36 Delachaise Street New Orleans, LA.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: 1,496‑square‑foot duplex on a corner lot; Built in 1930; Both units are tenant‑occupied
