Furnished 8-Bedroom
For Sale
$850,000
2108 Louisiana Ave, New Orleans, LA 70115
Two separately configured units support current short-term rental operations with transferable permits and existing reservations.
Property Size3,840 SF
Price / SF$221.35
Days on Market12
Property Features for 2108 Louisiana Ave
General Information
Standard status
Active
Size
3,840 SF
Property subtype
Residential Income
Zoning
HU-MU
Units
Unit Mix
2 x 4BR/2BA
Multifamily Units
2
Additional Details
Furnished
Yes
Public Transit
Yes
Building Details
Buildings
1
Listing Agency:
NOLA Living Realty
(504) 289-3346
Listed By:
Pauline Nguyen · License #995699473
(504) 289-3346
Source:
Exprealty
Added: Aug 19
Changed: Aug 29
Last Checked: Aug 29 at 4:16PM
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 NOLA Living Realty
Investment Insights
Based on property information with market context.
Located at 2108 Louisiana Ave in New Orleans, this 3,840-square-foot duplex contains 8 bedrooms and 4 full bathrooms, arranged as two units with 4 bedrooms and 2 bathrooms each. The property is fully furnished, and the upper residence includes original wood flooring, high ceilings, and a mural wall, while the lower residence has a more contemporary finish.
Both units are operating as short-term rentals with active permits, transferable licenses, and reservations scheduled through 2027. HU-MU zoning supports residential use along with compatible commercial and personal-service uses, subject to applicable requirements. The property is within walking distance of the St. Charles Avenue streetcar and blocks from Mardi Gras parade routes, with restaurants, bars, entertainment venues, and neighborhood attractions nearby. Downtown New Orleans is minutes away.
Both units are operating as short-term rentals with active permits, transferable licenses, and reservations scheduled through 2027. HU-MU zoning supports residential use along with compatible commercial and personal-service uses, subject to applicable requirements. The property is within walking distance of the St. Charles Avenue streetcar and blocks from Mardi Gras parade routes, with restaurants, bars, entertainment venues, and neighborhood attractions nearby. Downtown New Orleans is minutes away.
Key Highlights
- 3,840‑square‑foot duplex with 8 bedrooms and 4 full bathrooms
- Two units, each configured with 4 bedrooms and 2 bathrooms
- Both units currently operate as short‑term rentals
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
$33,005
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
3.88%
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%
$660,100
$660.1K
Cap Rate 7%
$471,500
$471.5K
Cap Rate 9%
$366,722
$366.7K
Market Conditions
NOI Build-Up for 3,840 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
$51.6K $13.44/SF
− Vacancy
−$4.5K −$1.16/SF
EGI
$47.2K $12.28/SF
− OpEx
−$14.1K −$3.68/SF
NOI
$33.0K $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%
$660,100
Cap Rate 7%
$471,500
Cap Rate 9%
$366,722
Alternative Uses
Best Use
Multifamily LT 5
$471.5K
$412.6K – $550.1K
NOI $33,005 @ 7.0% cap · market cap 3.88%
Second Best
Apartment 5plus
$418.0K
$365.7K – $487.6K
NOI $29,258 @ 7.0% cap · market cap 3.44%
Theoretical Best
Office A
$1.01M
$886.5K – $1.18M
NOI $70,917 @ 7.0% cap · market cap 8.34%
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
2,878
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately configured units support current short-term rental operations with transferable permits and existing reservations.
Where is this duplex located?
The property is located at 2108 Louisiana Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 3,840‑square‑foot duplex with 8 bedrooms and 4 full bathrooms; Two units, each configured with 4 bedrooms and 2 bathrooms; Both units currently operate as short‑term rentals
