Duplex with Fenced
For Sale
$300,000
2019-21 Kerlerec Street, New Orleans, LA 70116
One side is leased while the larger residence is vacant and configured with flexible bedroom and office space.
Property Size1,947 SF
Price / SF$154.08
Days on Market94
Property Features for 2019-21 Kerlerec Street
General Information
Standard status
Active
Size
1,947 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Amenities
Central Air
Central
1
2
5
inside
Asphalt
Other
Pillar/Post/Pier
Wood Siding
Building Details
Year Built
1900
Listing Agency:
Compass
Listed By:
Jeff Puckett · License #000015938
(985) 707-4145
Source:
Compass
Added: Jun 2
Changed: Sep 2
Last Checked: Sep 1 at 11:43PM
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 Compass
Investment Insights
Based on property information with market context.
This duplex at 2019-21 Kerlerec Street includes a leased two-bedroom residence and a vacant larger unit. The vacant side offers a spacious living room, three bedrooms, a kitchen with an oversized pantry, a bathroom with linen storage, and a rear primary bedroom adjoining a sitting room or office that may function as an additional bedroom. Both units have newer stackable washer and dryer sets, and the property has no carpet or popcorn ceilings.
Exterior improvements include fresh paint, updated lighting, entry doors, insulated windows, gutters, a fenced yard, and cobblestone-look pavers for semi off-street parking. The roof dates to 2022, plumbing was updated approximately in 2014, and the property includes central air and central heat. One unit's HVAC was updated 11/18/2025. The property is in X Flood Zone and is located near the French Quarter, Fair Grounds, restaurants, downtown, and I-10.
Exterior improvements include fresh paint, updated lighting, entry doors, insulated windows, gutters, a fenced yard, and cobblestone-look pavers for semi off-street parking. The roof dates to 2022, plumbing was updated approximately in 2014, and the property includes central air and central heat. One unit's HVAC was updated 11/18/2025. The property is in X Flood Zone and is located near the French Quarter, Fair Grounds, restaurants, downtown, and I-10.
Key Highlights
- Duplex with one leased two‑bedroom unit and one vacant larger unit
- Vacant side includes 3 bedrooms plus a sitting room or office with potential as a 4th bedroom
- Roof replaced in 2022; plumbing updated approximately in 2014
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
$24,654
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
8.22%
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%
$493,080
$493.1K
Cap Rate 7%
$352,200
$352.2K
Cap Rate 9%
$273,933
$273.9K
Market Conditions
NOI Build-Up for 1,947 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
$38.6K $19.80/SF
− Vacancy
−$3.3K −$1.71/SF
EGI
$35.2K $18.09/SF
− OpEx
−$10.6K −$5.43/SF
NOI
$24.7K $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 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%
$493,080
Cap Rate 7%
$352,200
Cap Rate 9%
$273,933
Alternative Uses
Best Use
Multifamily LT 5
$352.2K
$308.2K – $410.9K
NOI $24,654 @ 7.0% cap · market cap 8.22%
Second Best
Apartment 5plus
$323.7K
$283.3K – $377.7K
NOI $22,661 @ 7.0% cap · market cap 7.55%
Theoretical Best
Office A
$494.9K
$433.0K – $577.3K
NOI $34,640 @ 7.0% cap · market cap 11.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,454
Businesses Nearby
Explore this area
Business Placement
Demographics for 70116, LA
10,676
Population
9,620
Households
1.1
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
8,212
Density / Sq Mi
$45,580
Median Household Income
$34,849
Median Earnings
$1,190
Median Rent
$385,100
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 - One side is leased while the larger residence is vacant and configured with flexible bedroom and office space.
Where is this duplex located?
The property is located at 2019-21 Kerlerec Street New Orleans, LA.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Duplex with one leased two‑bedroom unit and one vacant larger unit; Vacant side includes 3 bedrooms plus a sitting room or office with potential as a 4th bedroom; Roof replaced in 2022; plumbing updated approximately in 2014
