Furnished Duplex with STR
For Sale
$850,000
2108 Louisiana Avenue, New Orleans, LA 70115
Two furnished units operate with active short-term rental permits and established bookings.
Property Size3,840 SF
Days on Market12
Property Features for 2108 Louisiana Avenue
General Information
Standard status
Active
Size
3,840 SF
Property subtype
Commercial
Zoning
HU-MU
Units
Unit Mix
2 x 4BR/2BA
Multifamily Units
2
Additional Details
Furnished
Yes
Business Included
Yes
Public Transit
Yes
Building Details
Building Size
3,840 SF
Year Built
1981
Stories
2
Listing Agency:
Nola Living Realty
(504) 289-3346
Listed By:
Pauline Nguyen · License #995699473
(504) 289-3346
Source:
Nolalivingrealty
Added: Aug 19
Changed: Aug 29
Last Checked: Aug 29 at 11:38AM
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.
This 1981 duplex contains 8 bedrooms and 4 full baths, configured as two residences with 4 bedrooms and 2 baths apiece. Both units are furnished and currently operated as short-term rentals, with transferable licenses, active permits, and bookings extending through 2027. The upper residence retains original wood floors, high ceilings, and a mural wall, while the lower unit presents a more contemporary interior.
The property carries HU-MU zoning, supporting residential use along with compatible commercial and service uses subject to applicable requirements. Its Uptown setting places the building within walking distance of the St. Charles Avenue streetcar and a short distance from Mardi Gras parade routes, restaurants, bars, entertainment venues, and other neighborhood attractions. Downtown New Orleans is only minutes away.
The property carries HU-MU zoning, supporting residential use along with compatible commercial and service uses subject to applicable requirements. Its Uptown setting places the building within walking distance of the St. Charles Avenue streetcar and a short distance from Mardi Gras parade routes, restaurants, bars, entertainment venues, and other neighborhood attractions. Downtown New Orleans is only minutes away.
Key Highlights
- 8‑bedroom, 4‑bath duplex with two 4‑bedroom, 2‑bath units
- Both units furnished and operating as short‑term rentals
- Transferable STR licenses with bookings in place through 2027
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
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,798
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 furnished units operate with active short-term rental permits and established bookings.
Where is this duplex located?
The property is located at 2108 Louisiana Avenue 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: 8‑bedroom, 4‑bath duplex with two 4‑bedroom, 2‑bath units; Both units furnished and operating as short‑term rentals; Transferable STR licenses with bookings in place through 2027
