Craftsman-Style
For Sale
$349,000
Pending
2029 Broadway St, New Orleans, LA 70118
Renovation work is underway, with kitchen cabinetry, counters, and bathroom finishes already installed.
Property Size2,368 SF
Days on Market116
Property Features for 2029 Broadway St
General Information
Standard status
Pending
Size
2,368 SF
Property subtype
Residential Income
Site & Location
Neighborhood
Leonidas
Additional Details
Multifamily Units
2
Building Details
Buildings
1
Construction
Craftsman-style
Listing Agency:
RE/MAX Synergy
(985) 307-1367
Listed By:
Jeffery J Melancon · License #995685397
(504) 914-0988
Source:
Exprealty
Added: Jul 7
Changed: Oct 28
Last Checked: Oct 28 at 4:27PM
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 Synergy
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Investment Insights
Based on property information with market context.
At 2029 Broadway St in New Orleans, this Craftsman-style duplex is offered as-is with renovation work incomplete. The 2,368-square-foot property has a bay-front facade, decorative gable dormer, double entry doors, and a foyer with high ceilings. Heart pine and hardwood flooring remains in the main living areas and bedrooms, and the front enclosed sunporch has original windows and built-in shelving.
Installed kitchen features include white shaker cabinets, quartz countertops and backsplash, and a farmhouse sink. Bathrooms have marble tile, glass-enclosed tub and shower units, and dual-sink vanities. The remaining work allows a purchaser to complete the unfinished renovation. The sale is as-is, and the stated purchase options are cash or renovation financing.
Installed kitchen features include white shaker cabinets, quartz countertops and backsplash, and a farmhouse sink. Bathrooms have marble tile, glass-enclosed tub and shower units, and dual-sink vanities. The remaining work allows a purchaser to complete the unfinished renovation. The sale is as-is, and the stated purchase options are cash or renovation financing.
Key Highlights
- 2,368‑square‑foot duplex at 2029 Broadway St, New Orleans
- Renovation is incomplete; property is offered as‑is
- Kitchen has installed white shaker cabinetry, quartz countertops and backsplash, and a farmhouse sink
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,985
Cap Rate
8.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$599,700
$599.7K
Cap Rate 7%
$428,357
$428.4K
Cap Rate 9%
$333,167
$333.2K
Market Conditions
NOI Build-Up for 2,368 SF
Gross rent
$46.9K $19.80/SF
− Vacancy
−$4.1K −$1.71/SF
EGI
$42.8K $18.09/SF
− OpEx
−$12.9K −$5.43/SF
NOI
$30.0K $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%
$599,700
Cap Rate 7%
$428,357
Cap Rate 9%
$333,167
Alternative Uses
Best Use
Multifamily LT 5
$428.4K
$374.8K – $499.8K
NOI $29,985 @ 7.0% cap · market cap 8.59%
Second Best
Apartment 5plus
$393.7K
$344.5K – $459.4K
NOI $27,561 @ 7.0% cap · market cap 7.90%
Theoretical Best
Office A
$601.9K
$526.6K – $702.2K
NOI $42,131 @ 7.0% cap · market cap 12.07%
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
864
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Renovation work is underway, with kitchen cabinetry, counters, and bathroom finishes already installed.
Where is this duplex located?
The property is located at 2029 Broadway St New Orleans, LA.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: 2,368‑square‑foot duplex at 2029 Broadway St, New Orleans; Renovation is incomplete; property is offered as‑is; Kitchen has installed white shaker cabinetry, quartz countertops and backsplash, and a farmhouse sink
