2-Unit Duplex with Separate
For Sale
$220,000
2119 21 Robin St, New Orleans, LA 70122
Two independent residences offer practical layouts, appliances, central air and heat, and durable tile flooring throughout.
Property Size1,686 SF
Price / SF$130.49
Days on Market21
Property Features for 2119 21 Robin St
General Information
Standard status
Active
Size
1,686 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
refrigerator
range/oven
washer/dryer
dishwasher
central air/heat
separate water meters
spacious backyard
Building Details
Year Built
1960
Buildings
1
Tenancy
Multi
Listing Agency:
MS Realty, LLC
(504) 468-7979
Listed By:
Stephanie Morris · License #995694030
Source:
Dominionplace
Added: Aug 12
Changed: Aug 29
Last Checked: Aug 31 at 7:00PM
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 MS Realty, LLC
Investment Insights
Based on property information with market context.
This 1,686-square-foot duplex, built in 1960, is arranged as two separate residences on upper and lower levels. Each unit provides two independent bedrooms and one full bathroom, along with a refrigerator and range/oven. Washers and dryers are included, while the upstairs residence also has a dishwasher. Ceramic tile flooring is installed upstairs, with wood-look ceramic tile downstairs, and central air and heat serve both units. Separate water meters provide independent utility measurement, and the property includes a spacious backyard.
The property is in Gentilly near Elysian Fields Avenue and Filmore Avenue, with access to the University of New Orleans, Dillard University, I-610, I-10, Lakeshore Drive, and Gentilly Boulevard. Both units are currently tenant-occupied. Showings require 48-hour notice.
The property is in Gentilly near Elysian Fields Avenue and Filmore Avenue, with access to the University of New Orleans, Dillard University, I-610, I-10, Lakeshore Drive, and Gentilly Boulevard. Both units are currently tenant-occupied. Showings require 48-hour notice.
Key Highlights
- Two separate units with an upstairs/downstairs configuration
- Each unit includes 2 bedrooms and 1 full bathroom
- 1,686 square feet; built in 1960
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
$17,467
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
7.94%
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%
$349,340
$349.3K
Cap Rate 7%
$249,529
$249.5K
Cap Rate 9%
$194,078
$194.1K
Market Conditions
NOI Build-Up for 1,686 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
$27.3K $16.20/SF
− Vacancy
−$2.4K −$1.40/SF
EGI
$25.0K $14.80/SF
− OpEx
−$7.5K −$4.44/SF
NOI
$17.5K $10.36/SF
Area
ZIP 70122
Vacancy
8.64%
Lease Rate
$16.20 /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%
$349,340
Cap Rate 7%
$249,529
Cap Rate 9%
$194,078
Alternative Uses
Best Use
Multifamily LT 5
$249.5K
$218.3K – $291.1K
NOI $17,467 @ 7.0% cap · market cap 7.94%
Second Best
Apartment 5plus
$216.7K
$189.7K – $252.9K
NOI $15,172 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$441.2K
$386.0K – $514.7K
NOI $30,882 @ 7.0% cap · market cap 14.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
327
Businesses Nearby
Explore this area
Business Placement
Demographics for 70122, LA
34,986
Population
17,131
Households
2
Avg Household Size
39
Median Age
37%
College-Educated
89%
High-School Grad
6.3 sq mi
ZIP Area
5,553
Density / Sq Mi
$47,613
Median Household Income
$38,248
Median Earnings
$1,196
Median Rent
$274,700
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 independent residences offer practical layouts, appliances, central air and heat, and durable tile flooring throughout.
Where is this duplex located?
The property is located at 2119 21 Robin St New Orleans, LA.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Two separate units with an upstairs/downstairs configuration; Each unit includes 2 bedrooms and 1 full bathroom; 1,686 square feet; built in 1960
