Two-Story Duplex with Landscaped
2040 Royal Street, New Orleans, LA 70116
For Sale
$440,000
Two front-and-rear residences offer distinct layouts, with renovation work needed in the front unit.
Property Size2,167 SF
Price / SF$203.05
Days on Market32
Property Features for 2040 Royal Street
General Information
Standard status
Size
Property subtype
Property Condition
Severity
Evidence
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Amenities
landscaped backyard
oversized deck
wood-burning fireplace
cathedral ceiling
custom floor-to-ceiling built-in bookcases
French doors
freestanding fireplace
high ceilings
wood floors
historic architectural details
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Ricci Real Estate
(504) 372-0050
Listed By:
Lane J Lacoy · License LA #000071981
(504) 957-5116
Source:
Cypresskeyrealty
Added: Oct 9
Changed: Nov 7
Last Checked: Nov 8 at 2:21PM
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 Ricci Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,167-square-foot duplex, built in 1890, has two stories and a front-and-rear configuration. The rear residence has been upgraded and includes one bedroom, one and a half bathrooms, a wood-burning fireplace, built-in bookcases, and a kitchen with custom wood cabinetry. French doors connect its open living and dining area to the backyard. The front residence has one bedroom, one bathroom, a kitchen, and a living and dining area with a freestanding fireplace; it needs renovation. Both units have wood floors, high ceilings, and historic architectural details. The landscaped backyard includes an oversized deck.
The property is within walking distance of Frenchmen Street, the French Quarter, the Mississippi River, and Crescent Park.
The property is within walking distance of Frenchmen Street, the French Quarter, the Mississippi River, and Crescent Park.
Key Highlights
- Two‑story, front‑and‑rear duplex totaling 2,167 square feet
- Built in 1890 with historic architectural details and wood floors
- Rear residence upgraded; one bedroom, 1.5 bathrooms, and wood‑burning fireplace
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,440
Cap Rate
6.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$548,800
$548.8K
Cap Rate 7%
$392,000
$392.0K
Cap Rate 9%
$304,889
$304.9K
Market Conditions
NOI Build-Up for 2,167 SF
Gross rent
$42.9K $19.80/SF
− Vacancy
−$3.7K −$1.71/SF
EGI
$39.2K $18.09/SF
− OpEx
−$11.8K −$5.43/SF
NOI
$27.4K $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%
$548,800
Cap Rate 7%
$392,000
Cap Rate 9%
$304,889
Alternative Uses
Best Use
Multifamily LT 5
$392.0K
$343.0K – $457.3K
NOI $27,440 @ 7.0% cap · market cap 6.24%
Second Best
Apartment 5plus
$360.3K
$315.3K – $420.4K
NOI $25,221 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$550.8K
$481.9K – $642.6K
NOI $38,555 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,452
Businesses Nearby
Explore this area
Business Placement
Demographics for 70116, LA
10,676
Population
9,620
Households
1.1
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
8,212
Density / Sq Mi
$45,580
Median Household Income
$34,849
Median Earnings
$1,190
Median Rent
$385,100
Median Home Value
Market
Average Price Trend$/SF for Duplexes in New Orleans, LA
Properties on Market for Duplexes in New Orleans
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two front-and-rear residences offer distinct layouts, with renovation work needed in the front unit.
Where is this duplex located?
The property is located at 2040 Royal Street New Orleans, LA.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: Two‑story, front‑and‑rear duplex totaling 2,167 square feet; Built in 1890 with historic architectural details and wood floors; Rear residence upgraded; one bedroom, 1.5 bathrooms, and wood‑burning fireplace
