Craftsman Duplex with Bay
For Sale
$349,000
Pending
2029 BROADWAY Street, New Orleans, LA 70118
Multi-Family, Arts and Crafts, New Orleans, LA
Property Size2,368 SF
Days on Market106
Property Features for 2029 BROADWAY Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Driveway
Lot features
Regular
Subdivision
University
Standard status
Pending
APN
615311704
Size
2,368 SF
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1935
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
RE/MAX Synergy · RE/MAX International
(985) 307-1367
Listed By:
Jeffery Melancon
(504) 914-0988
Added: Jul 7
Changed: Sep 24
Last Checked: Oct 20 at 4:06AM
MLS# 2566525
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1935, this Craftsman-style duplex retains a bay-front exterior, decorative gable dormer, double entry doors, and a bright foyer with high ceilings. Original heart pine floors extend through the main living areas and bedrooms, while an enclosed front sunporch adds flexible interior space with built-in shelving and original windows.
Renovation work is underway and the property is offered as-is, where-is. The kitchen includes white shaker cabinets, quartz surfaces, a matching backsplash, and a farmhouse sink. Bathrooms are fitted with floor-to-ceiling marble tile, glass-enclosed tub and shower areas, and dual-sink vanities. Central heating, central air, public water, a shingle roof, and driveway parking are also in place. Located in New Orleans near neighborhood coffee shops and restaurants, the property requires cash or renovation financing.
Renovation work is underway and the property is offered as-is, where-is. The kitchen includes white shaker cabinets, quartz surfaces, a matching backsplash, and a farmhouse sink. Bathrooms are fitted with floor-to-ceiling marble tile, glass-enclosed tub and shower areas, and dual-sink vanities. Central heating, central air, public water, a shingle roof, and driveway parking are also in place. Located in New Orleans near neighborhood coffee shops and restaurants, the property requires cash or renovation financing.
Key Highlights
- Duplex built in 1935 with Craftsman‑style architecture
- Bay‑front facade with decorative gable dormer and double entry doors
- Original heart pine flooring in main living areas and bedrooms
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-ready duplex with original woodwork, updated kitchen components, and central HVAC.
Where is this duplex located?
The property is located at 2029 BROADWAY Street 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: Duplex built in 1935 with Craftsman‑style architecture; Bay‑front facade with decorative gable dormer and double entry doors; Original heart pine flooring in main living areas and bedrooms
