Renovated Two-Unit
For Sale
$474,900
1937 2ND Street, New Orleans, LA 70113
Multifamily, New Orleans, LA
Property Size2,500 SF
Lot Size0.04 Acres
Price / SF$189.96
Days on Market185
Property Features for 1937 2ND Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bathroom 4, Bathroom 2, Bedroom 3, Bedroom 4, Bedroom 2, Bedroom 1, Bathroom 3
Standard status
Active
APN
412202211
Size
2,500 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Description
SQ 272 LOT X SECOND ST AND DANNEEL 35X51 = 1785 SQ FT
Legal Description
SQ 272 LOT X SECOND ST AND DANNEEL 35X51 = 1785 SQ FT
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
in-unit laundry
private courtyard
wraparound balcony
Building Details
Year built
1900
Number of units
2
Building materials
HardiPlank Type, Wood Siding
Architectural style
Other
Listing Agency:
Marcotte & Co. Real Estate
Listed By:
Danielle N Marcotte · License #995691913
(504) 439-4900
Added: Apr 23
Changed: Oct 23
Last Checked: Oct 24 at 3:06AM
MLS# 2553869
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Renovated in 2021, this 2,500-square-foot duplex contains two apartments, each with two bedrooms and two bathrooms. The residences feature high ceilings, open living areas, generous storage, and in-unit laundry. Central heating and air conditioning serve the building, which was constructed in 1900.
Private outdoor areas differ by floor: the ground-level apartment has a courtyard, while the upper residence includes a wraparound balcony. Public water and sewer service the property.
Private outdoor areas differ by floor: the ground-level apartment has a courtyard, while the upper residence includes a wraparound balcony. Public water and sewer service the property.
Key Highlights
- Two apartments, each with 2 bedrooms and 2 bathrooms
- 2,500 square feet on a 0.041‑acre lot
- Renovated in 2021; original construction dates to 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,656
Cap Rate
6.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$633,120
$633.1K
Cap Rate 7%
$452,229
$452.2K
Cap Rate 9%
$351,733
$351.7K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$49.5K $19.80/SF
− Vacancy
−$4.3K −$1.71/SF
EGI
$45.2K $18.09/SF
− OpEx
−$13.6K −$5.43/SF
NOI
$31.7K $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 Rate 5%
$633,120
Cap Rate 7%
$452,229
Cap Rate 9%
$351,733
Alternative Uses
Best Use
Multifamily LT 5
$452.2K
$395.7K – $527.6K
NOI $31,656 @ 7.0% cap · market cap 6.67%
Second Best
Apartment 5plus
$415.7K
$363.7K – $485.0K
NOI $29,097 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$635.4K
$556.0K – $741.3K
NOI $44,479 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,431
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences offer separate outdoor spaces, in-unit laundry, and central heating and cooling.
Where is this duplex located?
The property is located at 1937 2ND Street New Orleans, LA.
What is the asking price?
The asking price for this property is $474,900.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 2 bathrooms; 2,500 square feet on a 0.041‑acre lot; Renovated in 2021; original construction dates to 1900
