Duplex with Off-Street
New
For Sale
$475,000
2109 11 Columbus St, New Orleans, LA 70119
Two-unit property with flexible bedroom layouts, updated baths, fenced outdoor space, and in-unit laundry on both sides.
Property Size2,572 SF
Price / SF$184.68
Days on Market2
Property Features for 2109 11 Columbus St
General Information
Standard status
Active
Size
2,572 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/2BA
Multifamily Units
2
Amenities
brick fireplaces
in-unit washer/dryer
front porch
fenced yard
Building Details
Year Built
1931
Listing Agency:
Riverside Realty, Inc.
(985) 307-1208
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Sep 9
Last Checked: Sep 9 at 3:54PM
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 Riverside Realty, Inc.
Investment Insights
Based on property information with market context.
Built in 1931, this 2,572-square-foot duplex contains two residences with a combined five bedrooms and four full bathrooms. One side offers a 3-bedroom, 2-bath layout, while the other provides 2 bedrooms and 2 baths. Both units include spacious living and dining areas, open kitchens, hardwood floors, tall ceilings, brick fireplaces, wood trim, updated bathrooms, and in-unit washers and dryers. A new FORTIFIED roof adds a significant recent improvement.
Outdoor features include a classic front porch, fenced yard, and off-street parking created by the key-lot configuration. The property is located near the Fairgrounds and City Park, with local restaurants and cafés nearby. Its separate unit layouts and on-site conveniences support a range of residential ownership and occupancy arrangements.
Outdoor features include a classic front porch, fenced yard, and off-street parking created by the key-lot configuration. The property is located near the Fairgrounds and City Park, with local restaurants and cafés nearby. Its separate unit layouts and on-site conveniences support a range of residential ownership and occupancy arrangements.
Key Highlights
- 2,572 SF duplex built in 1931
- Five bedrooms and four full baths across two units
- Unit mix includes 3BR/2BA and 2BR/2BA
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
$32,568
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
6.86%
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%
$651,360
$651.4K
Cap Rate 7%
$465,257
$465.3K
Cap Rate 9%
$361,867
$361.9K
Market Conditions
NOI Build-Up for 2,572 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
$50.9K $19.80/SF
− Vacancy
−$4.4K −$1.71/SF
EGI
$46.5K $18.09/SF
− OpEx
−$14.0K −$5.43/SF
NOI
$32.6K $12.66/SF
Area
ZIP 70119
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%
$651,360
Cap Rate 7%
$465,257
Cap Rate 9%
$361,867
Alternative Uses
Best Use
Multifamily LT 5
$465.3K
$407.1K – $542.8K
NOI $32,568 @ 7.0% cap · market cap 6.86%
Second Best
Apartment 5plus
$427.6K
$374.2K – $498.9K
NOI $29,935 @ 7.0% cap · market cap 6.30%
Theoretical Best
Office A
$673.0K
$588.9K – $785.2K
NOI $47,111 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,454
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with flexible bedroom layouts, updated baths, fenced outdoor space, and in-unit laundry on both sides.
Where is this duplex located?
The property is located at 2109 11 Columbus St New Orleans, LA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 2,572 SF duplex built in 1931; Five bedrooms and four full baths across two units; Unit mix includes 3BR/2BA and 2BR/2BA
