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 Market47
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
(504) 941-1570
Listed By:
Joanna Daunie · License #995688211
Source:
Fiorellaavenue
Added: Jul 16
Changed: Aug 29
Last Checked: Aug 30 at 7:02PM
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
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 = 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
$45,306
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
7.74%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,112
Businesses Nearby
Explore this area
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
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 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
