Corner-Lot
For Sale
$250,000
2137 A P Tureaud Avenue, New Orleans, LA 70119
Two separately configured residences combine historic character with central air and heat and covered front porches.
Property Size1,344 SF
Days on Market24
Property Features for 2137 A P Tureaud Avenue
General Information
Standard status
Active
Size
1,344 SF
Property subtype
Multi Family Home
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$28,800
Amenities
bamboo wood flooring
central air and heat
front porch
Building Details
Building Size
1,344 SF
Year Built
1940
Buildings
1
Stories
2
Construction
camelback shotgun
Listing Agency:
Haus Nola Realty Group, LLC
(504) 256-8360
Listed By:
Jovan Tapeh · License #995712071
(504) 256-8360
Source:
Nolalivingrealty
Added: Jul 17
Changed: Aug 9
Last Checked: Aug 9 at 5:43AM
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 Haus Nola Realty Group, LLC
Investment Insights
Based on property information with market context.
Built in 1940, this camelback shotgun duplex contains two 2-bedroom, 1-bath residences on a corner lot. Both units feature bamboo flooring, central air and heat, and front porches, while the property's original architectural character remains part of its identity. The building is being sold as-is.
Located at 2137 A P Tureaud Avenue in New Orleans' historic 7th Ward, the property offers a two-unit residential configuration suited to rental occupancy or an owner-occupant arrangement. Its separate residences and established physical layout provide practical flexibility within a classic New Orleans housing form.
Located at 2137 A P Tureaud Avenue in New Orleans' historic 7th Ward, the property offers a two-unit residential configuration suited to rental occupancy or an owner-occupant arrangement. Its separate residences and established physical layout provide practical flexibility within a classic New Orleans housing form.
Key Highlights
- Two 2‑bedroom, 1‑bath units
- Corner‑lot camelback shotgun duplex
- Built in 1940
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
$17,018
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
6.81%
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%
$340,360
$340.4K
Cap Rate 7%
$243,114
$243.1K
Cap Rate 9%
$189,089
$189.1K
Market Conditions
NOI Build-Up for 1,344 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
$26.6K $19.80/SF
− Vacancy
−$2.3K −$1.71/SF
EGI
$24.3K $18.09/SF
− OpEx
−$7.3K −$5.43/SF
NOI
$17.0K $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%
$340,360
Cap Rate 7%
$243,114
Cap Rate 9%
$189,089
Alternative Uses
Best Use
Multifamily LT 5
$243.1K
$212.7K – $283.6K
NOI $17,018 @ 7.0% cap · market cap 6.81%
Second Best
Apartment 5plus
$223.5K
$195.5K – $260.7K
NOI $15,643 @ 7.0% cap · market cap 6.26%
Theoretical Best
Office A
$351.7K
$307.7K – $410.3K
NOI $24,618 @ 7.0% cap · market cap 9.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
874
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
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 separately configured residences combine historic character with central air and heat and covered front porches.
Where is this duplex located?
The property is located at 2137 A P Tureaud Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units; Corner‑lot camelback shotgun duplex; Built in 1940
