Corner-Lot Duplex with
For Sale
$235,000
2200 02 Annette St, New Orleans, LA 70119
Two-unit residential property with flexible room arrangements, off-street covered parking, and a rear yard.
Property Size1,542 SF
Price / SF$152.40
Days on Market44
Property Features for 2200 02 Annette St
General Information
Standard status
Active
Size
1,542 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
1 x 1BR/1BA, 1 x studio/office
Multifamily Units
2
Additional Details
Gross Income
$28,776
Amenities
rear yard
Building Details
Year Built
1950
Listing Agency:
Compass Historic (LATT09)
Listed By:
Hilda Venson · License #000004419
(504) 481-3926
Source:
Dominionplace
Added: Jul 21
Changed: Aug 30
Last Checked: Sep 1 at 9:46PM
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 Compass Historic (LATT09)
Investment Insights
Based on property information with market context.
Built in 1950, this 1,542-square-foot duplex at 2200 02 Annette St includes two separate residential sides. One unit contains one bedroom and one bathroom. The other provides one bedroom, one bathroom, and an adaptable additional room that can function as a second bedroom, studio, or office.
The property occupies a corner lot in New Orleans and includes a carport along the left side plus a rear yard. It is located minutes from interstate access, shopping, and local dining. The property is designated X flood zone.
The property occupies a corner lot in New Orleans and includes a carport along the left side plus a rear yard. It is located minutes from interstate access, shopping, and local dining. The property is designated X flood zone.
Key Highlights
- 1,542 SF duplex on a corner lot
- One side has 1 bedroom and 1 bath; the other includes flexible second‑room space and 1 bath
- Built in 1950
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
$19,526
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
8.31%
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%
$390,520
$390.5K
Cap Rate 7%
$278,943
$278.9K
Cap Rate 9%
$216,956
$217.0K
Market Conditions
NOI Build-Up for 1,542 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
$30.5K $19.80/SF
− Vacancy
−$2.6K −$1.71/SF
EGI
$27.9K $18.09/SF
− OpEx
−$8.4K −$5.43/SF
NOI
$19.5K $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%
$390,520
Cap Rate 7%
$278,943
Cap Rate 9%
$216,956
Alternative Uses
Best Use
Multifamily LT 5
$278.9K
$244.1K – $325.4K
NOI $19,526 @ 7.0% cap · market cap 8.31%
Second Best
Apartment 5plus
$256.4K
$224.3K – $299.1K
NOI $17,947 @ 7.0% cap · market cap 7.64%
Theoretical Best
Office A
$403.5K
$353.1K – $470.8K
NOI $28,245 @ 7.0% cap · market cap 12.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
799
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-unit residential property with flexible room arrangements, off-street covered parking, and a rear yard.
Where is this duplex located?
The property is located at 2200 02 Annette St New Orleans, LA.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: 1,542 SF duplex on a corner lot; One side has 1 bedroom and 1 bath; the other includes flexible second‑room space and 1 bath; Built in 1950
