Historic Duplex with
For Sale
$585,000
2101 03 Carrollton Ave, New Orleans, LA 70118
Two residential levels include updated systems, outdoor balconies, and off-street parking near the streetcar line.
Property Size3,578 SF
Price / SF$163.50
Days on Market96
Property Features for 2101 03 Carrollton Ave
General Information
Standard status
Active
Size
3,578 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 4BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Amenities
covered front and rear balconies
Building Details
Year Built
1919
Buildings
1
Listing Agency:
Homesmart Realty South
Listed By:
Joanna Daunie · License #995688211
(504) 941-1570
Source:
Fiorellaavenue
Added: Jul 16
Changed: Oct 13
Last Checked: Oct 19 at 11:24AM
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 Homesmart Realty South
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Investment Insights
Based on property information with market context.
Built in 1919, this 3578-square-foot duplex contains two residential rental areas with distinct layouts. The upper residence offers four bedrooms, two updated bathrooms, an updated kitchen, high ceilings, original architectural features, and covered front and rear balconies. The lower residence includes two bedrooms and one bathroom in space originally constructed as a commercial shop. The property was completely rewired after the current owner acquired it, and updated plumbing is also noted.
Located at 2101 Carrollton Ave in New Orleans, the property sits along the streetcar line on S. Carrollton Avenue. Restaurants, coffee shops, boutiques, and other neighborhood businesses are described as being steps away. Off-street parking accommodates three to four vehicles. Panola Street, the adjacent side street, has been fully repaved as part of Uptown infrastructure improvements. The property is zoned HU-RD2.
Located at 2101 Carrollton Ave in New Orleans, the property sits along the streetcar line on S. Carrollton Avenue. Restaurants, coffee shops, boutiques, and other neighborhood businesses are described as being steps away. Off-street parking accommodates three to four vehicles. Panola Street, the adjacent side street, has been fully repaved as part of Uptown infrastructure improvements. The property is zoned HU-RD2.
Key Highlights
- 3578 SF duplex built in 1919
- Upper residence with 4 bedrooms and 2 updated bathrooms
- Lower residence with 2 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,306
Cap Rate
7.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$906,120
$906.1K
Cap Rate 7%
$647,229
$647.2K
Cap Rate 9%
$503,400
$503.4K
Market Conditions
NOI Build-Up for 3,578 SF
Gross rent
$70.8K $19.80/SF
− Vacancy
−$6.1K −$1.71/SF
EGI
$64.7K $18.09/SF
− OpEx
−$19.4K −$5.43/SF
NOI
$45.3K $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%
$906,120
Cap Rate 7%
$647,229
Cap Rate 9%
$503,400
Alternative Uses
Best Use
Multifamily LT 5
$647.2K
$566.3K – $755.1K
NOI $45,306 @ 7.0% cap · market cap 7.74%
Second Best
Apartment 5plus
$594.9K
$520.6K – $694.1K
NOI $41,644 @ 7.0% cap · market cap 7.12%
Theoretical Best
Office A
$909.4K
$795.7K – $1.06M
NOI $63,659 @ 7.0% cap · market cap 10.88%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,112
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential levels include updated systems, outdoor balconies, and off-street parking near the streetcar line.
Where is this duplex located?
The property is located at 2101 03 Carrollton Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: 3578 SF duplex built in 1919; Upper residence with 4 bedrooms and 2 updated bathrooms; Lower residence with 2 bedrooms and 1 bathroom
