Historic Duplex With
For Sale
$585,000
2101 CARROLLTON Avenue, New Orleans, LA 70118
Multi-Family, Traditional, New Orleans, LA
Property Size3,578 SF
Price / SF$163.50
Days on Market49
Property Features for 2101 CARROLLTON Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Driveway, Off Street
Exterior features
Balcony
Lot features
Corner
Subdivision
Uptown
Standard status
Active
APN
2101
Size
3,578 SF
Taxes and HOA fees
Tax Description
SQ 287 LOT 1 S CARROLLTON & PANOLA 30 X 120 2101-03 S CARROLLTON
Legal Description
SQ 287 LOT 1 S CARROLLTON & PANOLA 30 X 120 2101-03 S CARROLLTON
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
covered balconies
Building Details
Year built
1919
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
Homesmart Realty South · HomeSmart International
(504) 908-7653
Listed By:
Joanna Daunie · License #995688211
(504) 941-1570
Added: Jul 12
Changed: Aug 26
Last Checked: Aug 29 at 10:06PM
MLS# 2567183
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1919, this 3,578-square-foot duplex pairs historic architectural elements with updated residential finishes. The upper unit includes four bedrooms, two bathrooms, an updated kitchen, high ceilings, and covered balconies at the front and rear. The lower unit contains two bedrooms and one bathroom; it was originally built as a commercial shop before conversion to residential use. Central heating and central air serve the property, which also has a shingle roof, public water, driveway parking, and off-street parking.
The property is located at 2101 Carrollton Avenue in New Orleans, along a streetcar line and near restaurants, coffee shops, boutiques, and other neighborhood businesses. Panola Street borders the property and has been repaved through Uptown infrastructure improvements. The electrical system was completely rewired after the current owner acquired the property.
The property is located at 2101 Carrollton Avenue in New Orleans, along a streetcar line and near restaurants, coffee shops, boutiques, and other neighborhood businesses. Panola Street borders the property and has been repaved through Uptown infrastructure improvements. The electrical system was completely rewired after the current owner acquired the property.
Key Highlights
- 3,578 square feet across a duplex configuration
- Upper residence with 4 bedrooms, 2 bathrooms, updated kitchen, and covered front and rear balconies
- Lower 2‑bedroom, 1‑bath residence converted from a former commercial shop
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
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 provide flexible layouts, central HVAC, and off-street parking for three to four vehicles.
Where is this duplex located?
The property is located at 2101 CARROLLTON Avenue 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: 3,578 square feet across a duplex configuration; Upper residence with 4 bedrooms, 2 bathrooms, updated kitchen, and covered front and rear balconies; Lower 2‑bedroom, 1‑bath residence converted from a former commercial shop
