Remodeled 3-Bedroom
For Sale
$289,000
2032-34 James Drive, Marrero, LA 70072
Two updated residences feature refreshed interiors, central air, and separate three-bedroom, two-bath layouts.
Property Size2,000 SF
Lot Size0.13 Acres
Price / SF$144.50
Days on Market228
Property Features for 2032-34 James Drive
General Information
Standard status
Active
Size
2,000 SF
Lot size
0.13 Acres
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
Central Air
Central
1
4
6
In Unit
Asphalt
Slab: Traditional
Brick
Building Details
Year Built
1980
Buildings
1
Listing Agency:
Century 21 J. Carter & Company
Listed By:
Veronica Ly · License #995716621
(504) 505-5377
Source:
Compass
Added: Jan 19
Changed: Sep 3
Last Checked: Sep 2 at 11:40PM
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 Century 21 J. Carter & Company
Investment Insights
Based on property information with market context.
Built in 1980, this duplex contains two residences with matching three-bedroom, two-bath layouts. The 2,000-square-foot property has updated kitchens and bathrooms, new flooring, fresh paint, and new HVAC systems. Central air and in-unit features support everyday residential use, while brick construction, a traditional slab foundation, and an asphalt exterior surface complete the improvements.
The property is located at 2032-34 James Drive in Marrero, Louisiana, within ZIP code 70072. Each unit provides a substantial residential floor plan with refreshed finishes and dedicated kitchen and bath areas.
The property is located at 2032-34 James Drive in Marrero, Louisiana, within ZIP code 70072. Each unit provides a substantial residential floor plan with refreshed finishes and dedicated kitchen and bath areas.
Key Highlights
- Two units, each with a 3‑bedroom, 2‑bath layout
- 2,000 square feet of property size
- 5,628‑square‑foot lot
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
$21,948
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
7.59%
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%
$438,960
$439.0K
Cap Rate 7%
$313,543
$313.5K
Cap Rate 9%
$243,867
$243.9K
Market Conditions
NOI Build-Up for 2,000 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
$34.3K $17.16/SF
− Vacancy
−$3.0K −$1.48/SF
EGI
$31.4K $15.68/SF
− OpEx
−$9.4K −$4.70/SF
NOI
$21.9K $10.97/SF
Area
Jefferson County, LA
Vacancy
8.64%
Lease Rate
$17.16 /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%
$438,960
Cap Rate 7%
$313,543
Cap Rate 9%
$243,867
Alternative Uses
Best Use
Multifamily LT 5
$313.5K
$274.4K – $365.8K
NOI $21,948 @ 7.0% cap · market cap 7.59%
Second Best
Apartment 5plus
$293.1K
$256.5K – $342.0K
NOI $20,518 @ 7.0% cap · market cap 7.10%
Theoretical Best
Office A
$527.7K
$461.7K – $615.6K
NOI $36,936 @ 7.0% cap · market cap 12.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
468
Businesses Nearby
Explore this area
Business Placement
Demographics for 70072, LA
56,924
Population
22,845
Households
2.5
Avg Household Size
39
Median Age
16%
College-Educated
80%
High-School Grad
51.8 sq mi
ZIP Area
1,099
Density / Sq Mi
$55,866
Median Household Income
$34,411
Median Earnings
$1,091
Median Rent
$190,700
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 updated residences feature refreshed interiors, central air, and separate three-bedroom, two-bath layouts.
Where is this duplex located?
The property is located at 2032-34 James Drive Marrero, LA.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: Two units, each with a 3‑bedroom, 2‑bath layout; 2,000 square feet of property size; 5,628‑square‑foot lot
