Renovated Two-Unit Historic
For Sale
$489,500
1937-39 Second Street, New Orleans, LA 70113
Renovated in 2021, this two-unit duplex offers two 2-bedroom, 2-bath residences with in-unit laundry and outdoor space.
Property Size2,500 SF
Price / SF$195.80
Days on Market99
Property Features for 1937-39 Second Street
General Information
Standard status
Active
Size
2,500 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Additional Details
Multifamily Units
2
Amenities
tall ceilings
open living spaces
generous storage
in-unit laundry
private courtyard
wraparound balcony
Building Details
Year Built
1900
Year Renovated
2021
Tenancy
Multi
Listing Agency:
Marcotte & Co. Real Estate
(504) 439-4900
Listed By:
Danielle Marcotte · License #995691913
(504) 439-4900
Source:
Compass
Added: Apr 23
Changed: Jul 23
Last Checked: Jul 30 at 12:18PM
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 Marcotte & Co. Real Estate
Investment Insights
Based on property information with market context.
Renovated in 2021, this historic duplex is configured as two separate 2-bedroom, 2-bath units with tall ceilings, open living spaces, and generous storage. Both units include in-unit laundry, while the lower residence features a private courtyard and the upper unit has a wraparound balcony for outdoor living.
Located at 1937-39 Second Street in Faubourg Livaudais, the property is positioned for owner-occupants seeking rental income or flexible multigenerational living in an Uptown setting.
Located at 1937-39 Second Street in Faubourg Livaudais, the property is positioned for owner-occupants seeking rental income or flexible multigenerational living in an Uptown setting.
Key Highlights
- Renovated in 2021 historic 2‑unit duplex with two 2‑bedroom, 2‑bath residences
- Each unit has in‑unit laundry and open living spaces
- 2‑story property built in 1900 with tall ceilings and generous storage
Financial Insights For Multifamily LT 5
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 | $49.5k | $19.80 |
| − Vacancy | −$4.3k | −$1.71 |
| EGI | $45.2k | $18.09 |
| − OpEx | −$13.6k | −$5.43 |
| NOI | $31.7k | $12.66 |
2,500 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$452.2K
$395.7K – $527.6K
NOI $31,656 @ 7.0% cap · market cap 6.47%
Second Best
Apartment 5plus
$415.7K
$363.7K – $485.0K
NOI $29,097 @ 7.0% cap · market cap 5.94%
Theoretical Best
Office A
$635.4K
$556.0K – $741.3K
NOI $44,479 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Renovated in 2021, this two-unit duplex offers two 2-bedroom, 2-bath residences with in-unit laundry and outdoor space.
Where is this duplex located?
The property is located at 1937-39 Second Street New Orleans, LA.
What is the asking price?
The asking price for this property is $489,500.
What are key features of this property?
This property features: Renovated in 2021 historic 2‑unit duplex with two 2‑bedroom, 2‑bath residences; Each unit has in‑unit laundry and open living spaces; 2‑story property built in 1900 with tall ceilings and generous storage
