Duplex With In-Place
1934-36 Spain Street New Orleans, LA 70117
For Sale
$190,000
Duplex in New Orleans with one unit vacant and the other occupied by a long-term tenant.
Property Size1,500 SF
Price / SF$126.67
Days on Market255
Property Features for 1934-36 Spain Street
General Information
- Standard status
- Active
- Size
- 1,500 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1969
Listing Agency:
RE/MAX Living
(504) 495-4695
Listed By:
Christopher Hakenjos · License #995692924
(504) 495-4695
Source:
Compass
Added: Nov 11, 2025
Changed: Jul 23
Last Checked: Jul 23 at 3:11PM
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 RE/MAX Living
Investment Insights
Based on property information with market context.
This duplex in New Orleans, LA offers two residential units with separate living spaces. One side is currently vacant, while the other side is occupied by a long-term tenant. The roof was replaced in 2019, and major appliances remain with the home. For the 1934 unit, the refrigerator was just purchased. The exterior was recently painted within the past two years, and the 1936 interior was freshly painted prior to listing. Carpet in the back bedroom of the 1936 unit was also replaced.
The vacant unit has been rented twice on one-year leases at $1,200 per month, based on information provided. Collectively, the recent updates and current occupancy setup make the property suitable for an owner looking to take over a functioning income arrangement.
As presented, the property consists of the 1934 and 1936 sides of the duplex, with interior updates completed on the 1936 unit and ongoing tenancy on the opposite side.
The vacant unit has been rented twice on one-year leases at $1,200 per month, based on information provided. Collectively, the recent updates and current occupancy setup make the property suitable for an owner looking to take over a functioning income arrangement.
As presented, the property consists of the 1934 and 1936 sides of the duplex, with interior updates completed on the 1936 unit and ongoing tenancy on the opposite side.
Key Highlights
- Duplex (1‑story) with 4 bedrooms and 2 full bathrooms total
- One unit is vacant; the other unit is occupied by a long‑term tenant
- Roof replaced in 2019
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $34.9k | $23.28 |
| − Vacancy | −$3.2k | −$2.12 |
| EGI | $31.7k | $21.16 |
| − OpEx | −$14.3k | −$9.52 |
| NOI | $17.5k | $11.64 |
1,500 SF · lease $23.28/SF/yr · vacancy 9.10% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$271.3K
$237.4K – $316.6K
NOI $18,994 @ 7.0% cap · market cap 10.00%
Second Best
Apartment 5plus
$249.4K
$218.2K – $291.0K
NOI $17,458 @ 7.0% cap · market cap 9.19%
Theoretical Best
Office A
$381.3K
$333.6K – $444.8K
NOI $26,688 @ 7.0% cap · market cap 14.05%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Duplex in New Orleans with one unit vacant and the other occupied by a long-term tenant.
Where is this duplex located?
The property is located at 1934-36 Spain Street New Orleans, LA.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: Duplex (1‑story) with 4 bedrooms and 2 full bathrooms total; One unit is vacant; the other unit is occupied by a long‑term tenant; Roof replaced in 2019
