Historic Corner-Lot
For Sale
$399,900
212 Alix Street, New Orleans, LA 70114
Historic corner-lot duplex with two separate 2-bedroom, 1-bath units, including outdoor courtyard, hot tub, and garage.
Property Size1,741 SF
Days on Market20
Property Features for 212 Alix Street
General Information
Standard status
Active
Size
1,741 SF
Property subtype
Multi Family Home
Additional Details
Multifamily Units
2
Amenities
covered porch
private courtyard
private outdoor hot tub
garage
Building Details
Building Size
1,741 SF
Year Built
1898
Stories
1
Tenancy
Multi
Listing Agency:
Boyd Realtors, LLC
(504) 400-3945
Listed By:
Kristen Young-Boyd
(504) 400-3945
Source:
Nolalivingrealty
Added: Jul 23
Changed: Aug 8
Last Checked: Aug 11 at 2:17PM
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 Boyd Realtors, LLC
Investment Insights
Based on property information with market context.
This historic corner-lot duplex offers two separate 2-bedroom, 1-bathroom units. The front unit preserves elements of its history as a former corner store, while the property overall is set up for comfortable outdoor living with a covered porch, a private courtyard, and a private outdoor hot tub. A garage is also included.
Positioned between Algiers Point and the French Quarter, the property is described as walkable to neighborhood dining and activities, with the ferry noted as about three blocks away and additional festival activity nearby. Access to the neighborhood pub is also described as roughly one block.
With its two distinct residential units and a mix of interior and outdoor features, the property presents a straightforward duplex configuration in a highly walkable, waterfront-adjacent New Orleans setting.
Positioned between Algiers Point and the French Quarter, the property is described as walkable to neighborhood dining and activities, with the ferry noted as about three blocks away and additional festival activity nearby. Access to the neighborhood pub is also described as roughly one block.
With its two distinct residential units and a mix of interior and outdoor features, the property presents a straightforward duplex configuration in a highly walkable, waterfront-adjacent New Orleans setting.
Key Highlights
- Historic corner‑lot duplex built in 1898 with two separate 2‑bedroom, 1‑bath units
- Front unit retains historical character as a former corner store
- Covered porch plus private courtyard for outdoor living
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
$22,045
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
5.51%
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%
$440,900
$440.9K
Cap Rate 7%
$314,929
$314.9K
Cap Rate 9%
$244,944
$244.9K
Market Conditions
NOI Build-Up for 1,741 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
$34.5K $19.80/SF
− Vacancy
−$3.0K −$1.71/SF
EGI
$31.5K $18.09/SF
− OpEx
−$9.4K −$5.43/SF
NOI
$22.0K $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%
$440,900
Cap Rate 7%
$314,929
Cap Rate 9%
$244,944
Alternative Uses
Best Use
Multifamily LT 5
$314.9K
$275.6K – $367.4K
NOI $22,045 @ 7.0% cap · market cap 5.51%
Second Best
Apartment 5plus
$289.5K
$253.3K – $337.7K
NOI $20,263 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$442.5K
$387.2K – $516.3K
NOI $30,975 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,050
Businesses Nearby
Explore this area
Business Placement
Demographics for 70114, LA
23,127
Population
11,860
Households
2
Avg Household Size
38
Median Age
26%
College-Educated
86%
High-School Grad
5.1 sq mi
ZIP Area
4,535
Density / Sq Mi
$41,435
Median Household Income
$31,743
Median Earnings
$1,113
Median Rent
$194,100
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 - Historic corner-lot duplex with two separate 2-bedroom, 1-bath units, including outdoor courtyard, hot tub, and garage.
Where is this duplex located?
The property is located at 212 Alix Street New Orleans, LA.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Historic corner‑lot duplex built in 1898 with two separate 2‑bedroom, 1‑bath units; Front unit retains historical character as a former corner store; Covered porch plus private courtyard for outdoor living
