Brick Duplex with Fenced
For Sale
$449,000
195 97 Metairie Ct, Metairie, LA 70001
Two residential units include a larger layout and a front three-bedroom, two-bath unit.
Property Size2,790 SF
Price / SF$160.93
Days on Market44
Property Features for 195 97 Metairie Ct
General Information
Standard status
Active
Size
2,790 SF
Property subtype
Multi-Family
Building Details
Year Built
1960
Listing Agency:
RE/MAX Affiliates
(504) 258-0375
Listed By:
Frank Barrett · License #000056701
Source:
Fiorellaavenue
Added: Jul 20
Changed: Aug 31
Last Checked: Aug 31 at 7:35PM
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 Affiliates
Investment Insights
Based on property information with market context.
Built in 1960, this brick duplex contains two residential units on a 75-by-120-foot lot. The front unit offers three bedrooms and two bathrooms, while the larger unit includes a family room that can support either owner occupancy or rental use. A fenced yard adds outdoor space to the property.
The property is in Old Metairie, with access toward Metairie Road as well as I-10 and Veterans Boulevard. The 2,790-square-foot building provides a practical configuration for an owner-occupant seeking additional rental space or for a buyer focused on a two-unit residential property.
The property is in Old Metairie, with access toward Metairie Road as well as I-10 and Veterans Boulevard. The 2,790-square-foot building provides a practical configuration for an owner-occupant seeking additional rental space or for a buyer focused on a two-unit residential property.
Key Highlights
- Brick duplex built in 1960
- 2,790‑square‑foot building on a 75‑by‑120‑foot lot
- Front unit includes 3 bedrooms and 2 bathrooms
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
$29,835
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
6.64%
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%
$596,700
$596.7K
Cap Rate 7%
$426,214
$426.2K
Cap Rate 9%
$331,500
$331.5K
Market Conditions
NOI Build-Up for 2,790 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
$45.2K $16.20/SF
− Vacancy
−$2.6K −$0.92/SF
EGI
$42.6K $15.28/SF
− OpEx
−$12.8K −$4.58/SF
NOI
$29.8K $10.69/SF
Area
Metairie, LA
Vacancy
5.70%
Lease Rate
$16.20 /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%
$596,700
Cap Rate 7%
$426,214
Cap Rate 9%
$331,500
Alternative Uses
Best Use
Multifamily LT 5
$426.2K
$372.9K – $497.3K
NOI $29,835 @ 7.0% cap · market cap 6.64%
Second Best
Apartment 5plus
$370.9K
$324.6K – $432.7K
NOI $25,964 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$653.3K
$571.7K – $762.2K
NOI $45,734 @ 7.0% cap · market cap 10.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,296
Businesses Nearby
Explore this area
Business Placement
Demographics for 70001, LA
40,068
Population
19,103
Households
2.1
Avg Household Size
39
Median Age
37%
College-Educated
93%
High-School Grad
6.5 sq mi
ZIP Area
6,164
Density / Sq Mi
$70,187
Median Household Income
$43,662
Median Earnings
$1,145
Median Rent
$313,300
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 - Two residential units include a larger layout and a front three-bedroom, two-bath unit.
Where is this duplex located?
The property is located at 195 97 Metairie Ct Metairie, LA.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Brick duplex built in 1960; 2,790‑square‑foot building on a 75‑by‑120‑foot lot; Front unit includes 3 bedrooms and 2 bathrooms
