Duplex with Off-Street
216 Transcontinental Drive Metairie, LA 70001
For Sale
$210,000
Duplex on a 50' x 120' lot with two driveways, one featuring a covered carport, plus a vacant and an occupied unit.
Property Size1,976 SF
Lot Size0.14 Acres
Price / SF$106.28
Days on Market20
Property Features for 216 Transcontinental Drive
General Information
- Standard status
- Active
- Size
- 1,976 SF
- Lot size
- 0.14 Acres
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1959
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
(504) 300-9776
Listed By:
Phillip Lirette · License #995695068
(504) 300-9776
Source:
Compass
Added: Jul 5
Changed: Jul 22
Last Checked: Jul 23 at 10:11AM
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 KELLER WILLIAMS REALTY 455-0100
Investment Insights
Based on property information with market context.
This duplex includes a downstairs unit with 2 bedrooms and 1 bathroom that is currently vacant, and an upstairs unit with 1 bedroom and 1 bathroom that is tenant occupied. The property is being sold as-is and will require repairs and renovations throughout.
Set on a 50' x 120' lot, the home offers two separate driveways, with one driveway providing a covered carport and off-street parking for both units. The location is described as convenient to I-10, Veterans Memorial Boulevard, shopping, dining, and Louis Armstrong New Orleans International Airport.
The property is configured as two separate residential units within a single duplex structure, supported by the existing parking layout for resident access.
Set on a 50' x 120' lot, the home offers two separate driveways, with one driveway providing a covered carport and off-street parking for both units. The location is described as convenient to I-10, Veterans Memorial Boulevard, shopping, dining, and Louis Armstrong New Orleans International Airport.
The property is configured as two separate residential units within a single duplex structure, supported by the existing parking layout for resident access.
Key Highlights
- Duplex built in 1959 with 3 total bedrooms and 2 full bathrooms (2BR/1BA downstairs; 1BR/1BA upstairs).
- Downstairs unit is vacant; upstairs unit is tenant occupied, providing an immediate occupied unit.
- Set on a 50' x 120' lot with two separate driveways and a covered carport for off‑street parking.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $35.6k | $18.00 |
| − Vacancy | −$2.1k | −$1.08 |
| EGI | $33.4k | $16.92 |
| − OpEx | −$15.0k | −$7.61 |
| NOI | $18.4k | $9.31 |
1,976 SF · lease $18.00/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$301.9K
$264.1K – $352.2K
NOI $21,131 @ 7.0% cap · market cap 10.06%
Second Best
Apartment 5plus
$262.7K
$229.9K – $306.5K
NOI $18,389 @ 7.0% cap · market cap 8.76%
Theoretical Best
Office A
$462.7K
$404.9K – $539.9K
NOI $32,391 @ 7.0% cap · market cap 15.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Duplex on a 50' x 120' lot with two driveways, one featuring a covered carport, plus a vacant and an occupied unit.
Where is this duplex located?
The property is located at 216 Transcontinental Drive Metairie, LA.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Duplex built in 1959 with 3 total bedrooms and 2 full bathrooms (2BR/1BA downstairs; 1BR/1BA upstairs).; Downstairs unit is vacant; upstairs unit is tenant occupied, providing an immediate occupied unit.; Set on a 50' x 120' lot with two separate driveways and a covered carport for off‑street parking.
