Updated Duplex with Detached
For Sale
$375,000
2031-33 General Taylor Street, New Orleans, LA 70115
Two-story multifamily property with an updated upper residence, additional lower-level space, off-street parking, and a sizeable yard.
Property Size2,236 SF
Price / SF$167.71
Days on Market153
Property Features for 2031-33 General Taylor Street
General Information
Standard status
Active
Size
2,236 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Amenities
Central Air
Central
2
3
Screens
Asphalt
Other
Pillar/Post/Pier
Wood Siding
Building Details
Year Built
1915
Listing Agency:
Coldwell Banker TEC MAGAZINE
(504) 704-9192
Listed By:
Sarah Aucoin · License #995697526
(504) 704-9192
Source:
Compass
Added: Apr 2
Changed: Aug 30
Last Checked: Aug 30 at 6:21PM
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 Coldwell Banker TEC MAGAZINE
Investment Insights
Based on property information with market context.
This two-story duplex contains 2,236 square feet and was originally constructed as a single-family residence before being converted to multifamily use. The upper unit has been renovated and includes 3 bedrooms and 1 full bath, along with refreshed interiors and updated finishes. The lower unit provides additional living area and configuration flexibility. Central air and central heating serve the property, while the exterior includes wood siding, asphalt surfaces, and a pillar/post/pier foundation system.
The property includes off-street parking, a sizeable yard, and a detached structure that can support studio, storage, or other uses. Its General Taylor Street location places it within walking distance of Martin Wine Cellar, Zee's Pizzeria, Mosquito Supper Club, Lucy's Creamery, and the Atkinson-Stern Tennis Center, with St. Charles Avenue nearby. Built in 1915, the property can continue operating as a duplex or be considered for a return to single-family use.
The property includes off-street parking, a sizeable yard, and a detached structure that can support studio, storage, or other uses. Its General Taylor Street location places it within walking distance of Martin Wine Cellar, Zee's Pizzeria, Mosquito Supper Club, Lucy's Creamery, and the Atkinson-Stern Tennis Center, with St. Charles Avenue nearby. Built in 1915, the property can continue operating as a duplex or be considered for a return to single-family use.
Key Highlights
- 2,236‑square‑foot duplex on General Taylor Street
- Upper unit includes 3 bedrooms and 1 full bath
- Renovated upper residence with refreshed interiors and updated finishes
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
$19,219
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
5.13%
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%
$384,380
$384.4K
Cap Rate 7%
$274,557
$274.6K
Cap Rate 9%
$213,544
$213.5K
Market Conditions
NOI Build-Up for 2,236 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
$30.1K $13.44/SF
− Vacancy
−$2.6K −$1.16/SF
EGI
$27.5K $12.28/SF
− OpEx
−$8.2K −$3.68/SF
NOI
$19.2K $8.60/SF
Area
ZIP 70115
Vacancy
8.64%
Lease Rate
$13.44 /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%
$384,380
Cap Rate 7%
$274,557
Cap Rate 9%
$213,544
Alternative Uses
Best Use
Multifamily LT 5
$274.6K
$240.2K – $320.3K
NOI $19,219 @ 7.0% cap · market cap 5.13%
Second Best
Apartment 5plus
$243.4K
$213.0K – $284.0K
NOI $17,037 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$589.9K
$516.2K – $688.2K
NOI $41,294 @ 7.0% cap · market cap 11.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,881
Businesses Nearby
Explore this area
Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
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?
Duplex - Two-story multifamily property with an updated upper residence, additional lower-level space, off-street parking, and a sizeable yard.
Where is this duplex located?
The property is located at 2031-33 General Taylor Street New Orleans, LA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 2,236‑square‑foot duplex on General Taylor Street; Upper unit includes 3 bedrooms and 1 full bath; Renovated upper residence with refreshed interiors and updated finishes
