Craftsman-Style
For Sale
$775,000
2001-03 South Carrollton Avenue, New Orleans, LA 70118
Three-story residential property with separate meters, off-street parking, and a lower-level bonus suite.
Property Size5,366 SF
Price / SF$144.43
Days on Market173
Property Features for 2001-03 South Carrollton Avenue
General Information
Standard status
Active
Size
5,366 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Units
Unit Mix
1 x 4BR/2BA, 1 x 3BR/2BA, 1 x 2BR/2BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Amenities
front porch
gazebo
pond
Central Air
Central
3
6
8
in units
Asphalt
Other
Courtyard,
Pillar/Post/Pier
Other, Stucco
, Porch
Building Details
Year Built
1920
Buildings
1
Stories
3
Construction
Craftsman
Listing Agency:
Gulf South Real Estate Solutions, LLC
(504) 940-4790
Listed By:
Lain Gorman · License #995685410
(504) 940-4790
Source:
Compass
Added: Mar 13
Changed: Aug 31
Last Checked: Aug 31 at 1:47AM
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 Gulf South Real Estate Solutions, LLC
Investment Insights
Based on property information with market context.
Built in 1920, this raised-basement Craftsman-style triplex contains three residential components totaling 9 bedrooms, 6 bathrooms, and 5,366 square feet. Unit 1 offers 4 bedrooms, 2 bathrooms, and 1,911 square feet, while Unit 2 includes 3 bedrooms, 2 bathrooms, and 1,912 square feet. The lower-level bonus suite provides 2 bedrooms, 2 bathrooms, and approximately 1,543 square feet. Two of the residential units are on separate meters, and the layout offers potential for reconfiguration into a larger single-family residence.
The property occupies a prominent corner lot at 2001-03 South Carrollton Avenue in New Orleans. Improvements include central air, a newer roof, fresh interior paint, a front porch, and off-street parking. The rear yard adds a gazebo and pond. The property is near the streetcar line, restaurants, and universities in the Uptown area.
The property occupies a prominent corner lot at 2001-03 South Carrollton Avenue in New Orleans. Improvements include central air, a newer roof, fresh interior paint, a front porch, and off-street parking. The rear yard adds a gazebo and pond. The property is near the streetcar line, restaurants, and universities in the Uptown area.
Key Highlights
- Three residential components totaling 5,366 sq ft with 9 bedrooms and 6 bathrooms
- Unit 1: 4 bedrooms, 2 bathrooms, 1,911 sq ft
- Unit 2: 3 bedrooms, 2 bathrooms, 1,912 sq ft
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
$67,947
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
8.77%
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%
$1,358,940
$1.4M
Cap Rate 7%
$970,671
$970.7K
Cap Rate 9%
$754,967
$755.0K
Market Conditions
NOI Build-Up for 5,366 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
$106.2K $19.80/SF
− Vacancy
−$9.2K −$1.71/SF
EGI
$97.1K $18.09/SF
− OpEx
−$29.1K −$5.43/SF
NOI
$67.9K $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 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%
$1,358,940
Cap Rate 7%
$970,671
Cap Rate 9%
$754,967
Alternative Uses
Best Use
Multifamily LT 5
$970.7K
$849.3K – $1.13M
NOI $67,947 @ 7.0% cap · market cap 8.77%
Second Best
Apartment 5plus
$892.2K
$780.7K – $1.04M
NOI $62,454 @ 7.0% cap · market cap 8.06%
Theoretical Best
Office A
$1.36M
$1.19M – $1.59M
NOI $95,470 @ 7.0% cap · market cap 12.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,112
Businesses Nearby
Explore this area
Business Placement
Demographics for 70118, LA
35,635
Population
15,464
Households
2.3
Avg Household Size
31
Median Age
54%
College-Educated
92%
High-School Grad
4.6 sq mi
ZIP Area
7,747
Density / Sq Mi
$62,665
Median Household Income
$28,199
Median Earnings
$1,257
Median Rent
$451,600
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?
Triplex - Three-story residential property with separate meters, off-street parking, and a lower-level bonus suite.
Where is this triplex located?
The property is located at 2001-03 South Carrollton Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Three residential components totaling 5,366 sq ft with 9 bedrooms and 6 bathrooms; Unit 1: 4 bedrooms, 2 bathrooms, 1,911 sq ft; Unit 2: 3 bedrooms, 2 bathrooms, 1,912 sq ft
