Craftsman
For Sale
$349,000
Pending
2029 BROADWAY Street, New Orleans, LA 70118
Multifamily, New Orleans, LA
Property Size2,368 SF
Days on Market109
Property Features for 2029 BROADWAY Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 1, Bathroom 4, Bedroom 4, Bathroom 3, Bedroom 2
Parking features
Driveway
Special listing conditions
Real Estate Owned, In Foreclosure
Standard status
Pending
APN
615311704
Size
2,368 SF
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
enclosed sunporch
Building Details
Year built
1935
Number of units
2
Building materials
Stucco
Architectural style
Craftsman
Buildings
1
Listing Agency:
RE/MAX Synergy · RE/MAX International
(985) 307-1367
Listed By:
Jeffery J Melancon · License #995685397
(504) 914-0988
Added: Jul 7
Changed: Oct 23
Last Checked: Oct 23 at 7:06PM
MLS# 2566525
Copyright © 2026 ROAM MLS. 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.
This 2,368-square-foot Craftsman duplex, built in 1935, has stucco exterior construction and a renovation that remains in progress. Interior features include original hardwood flooring, a front enclosed sunporch with built-in shelving, and a foyer with high ceilings. The kitchen has white shaker cabinets, quartz countertops and backsplash, and a farmhouse sink. Bathrooms include marble tile, glass-enclosed tub and shower areas, and dual-sink vanities.
The property is offered as-is. The sale is limited to cash or renovation financing. Central heating and air conditioning are installed, with a driveway for parking. Public water and sewer serve the property, and natural gas is available.
The property is offered as-is. The sale is limited to cash or renovation financing. Central heating and air conditioning are installed, with a driveway for parking. Public water and sewer serve the property, and natural gas is available.
Key Highlights
- Duplex with 2,368 square feet of interior space
- Built in 1935 with Craftsman architecture and stucco exterior
- Kitchen includes white shaker cabinetry, quartz counters and backsplash, and 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 remains unfinished, with kitchen and bathroom improvements already installed for completion by the next owner.
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 with 2,368 square feet of interior space; Built in 1935 with Craftsman architecture and stucco exterior; Kitchen includes white shaker cabinetry, quartz counters and backsplash, and farmhouse sink
