Renovated Duplex with Classic
For Sale
$430,000
2032 - 34 34 Cadiz St, New Orleans, LA 70115
Two separate residences feature private laundry, updated appliances, fenced outdoor space, and a recently replaced roof.
Property Size1,900 SF
Price / SF$226.32
Days on Market15
Property Features for 2032 - 34 34 Cadiz St
General Information
Standard status
Active
Size
1,900 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Amenities
front porch
in-unit laundry
tankless hot water heater
fenced
patio
Building Details
Year Built
1922
Buildings
1
Listing Agency:
Crescent Sotheby's International Realty
(504) 944-3605
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Aug 19
Changed: Sep 1
Last Checked: Sep 1 at 6:03PM
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 Crescent Sotheby's International Realty
Investment Insights
Based on property information with market context.
This 1,900-square-foot duplex, built in 1922, pairs a traditional New Orleans exterior with updates completed over time. Both residences include in-unit laundry, ceiling fans, can lighting, wood floors, high ceilings, crown molding, and tankless hot water. The property also offers an inviting front porch, architectural exterior detailing, and fenced outdoor areas with side alley screening and a recently replaced rear fence. The 2034 residence includes a new bathroom, while both sides have new appliances other than the stoves.
Recent capital work includes roof replacement and foundation beam replacement by Orleans Shoring. The property is in the Uptown/Freret neighborhood, with walkable access to Freret restaurants and shops, Trader Joe’s, and the St. Charles Avenue streetcar.
Recent capital work includes roof replacement and foundation beam replacement by Orleans Shoring. The property is in the Uptown/Freret neighborhood, with walkable access to Freret restaurants and shops, Trader Joe’s, and the St. Charles Avenue streetcar.
Key Highlights
- 1,900‑square‑foot duplex built in 1922
- Both residences have in‑unit laundry and tankless hot water
- 2034 residence includes a new bathroom; both sides have new appliances except stoves
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
$16,331
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
3.80%
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%
$326,620
$326.6K
Cap Rate 7%
$233,300
$233.3K
Cap Rate 9%
$181,456
$181.5K
Market Conditions
NOI Build-Up for 1,900 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
$25.5K $13.44/SF
− Vacancy
−$2.2K −$1.16/SF
EGI
$23.3K $12.28/SF
− OpEx
−$7.0K −$3.68/SF
NOI
$16.3K $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%
$326,620
Cap Rate 7%
$233,300
Cap Rate 9%
$181,456
Alternative Uses
Best Use
Multifamily LT 5
$233.3K
$204.1K – $272.2K
NOI $16,331 @ 7.0% cap · market cap 3.80%
Second Best
Apartment 5plus
$206.8K
$181.0K – $241.3K
NOI $14,477 @ 7.0% cap · market cap 3.37%
Theoretical Best
Office A
$501.3K
$438.6K – $584.8K
NOI $35,089 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,496
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences feature private laundry, updated appliances, fenced outdoor space, and a recently replaced roof.
Where is this duplex located?
The property is located at 2032 - 34 34 Cadiz St New Orleans, LA.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: 1,900‑square‑foot duplex built in 1922; Both residences have in‑unit laundry and tankless hot water; 2034 residence includes a new bathroom; both sides have new appliances except stoves
