Historic Corner-Lot
For Sale
$399,900
212 Alix St, New Orleans, LA 70114
Two distinct residences offer historic character, private outdoor spaces, and a garage.
Property Size1,741 SF
Price / SF$229.70
Days on Market20
Property Features for 212 Alix St
General Information
Standard status
Active
Size
1,741 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
covered porch
private courtyard
private outdoor hot tub
garage
Listing Agency:
Boyd Realtors, LLC
(504) 400-3945
Listed By:
Kristen Young-Boyd
(504) 400-3945
Source:
Exprealty
Added: Jul 23
Changed: Aug 11
Last Checked: Aug 11 at 5:21AM
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 contains two separate 2-bedroom, 1-bathroom units. The front residence retains features associated with its former corner-store use, while the property adds a covered porch, private courtyard, private outdoor hot tub, and garage. Together, these improvements provide distinct living spaces with multiple outdoor areas.
Located at 212 Alix St in New Orleans, the property is positioned near the Algiers Point and French Quarter areas. Coffee, breakfast, tacos, and a neighborhood pub are within two blocks, while the ferry is three blocks away and also described as two blocks away for downtown commuting. Neighborhood festivals are three blocks from the property.
Located at 212 Alix St in New Orleans, the property is positioned near the Algiers Point and French Quarter areas. Coffee, breakfast, tacos, and a neighborhood pub are within two blocks, while the ferry is three blocks away and also described as two blocks away for downtown commuting. Neighborhood festivals are three blocks from the property.
Key Highlights
- Duplex with two separate 2‑bedroom, 1‑bathroom units
- Front unit retains character from its former corner‑store use
- Historic corner‑lot property at 212 Alix St, New Orleans, LA
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
Property Profile
Current Use
Lease Details
2
Residential units
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 - Two distinct residences offer historic character, private outdoor spaces, and a garage.
Where is this duplex located?
The property is located at 212 Alix St 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: Duplex with two separate 2‑bedroom, 1‑bathroom units; Front unit retains character from its former corner‑store use; Historic corner‑lot property at 212 Alix St, New Orleans, LA
