Newly Built Duplex with Modern
For Sale
$499,000
2204-06 Pauger Street, New Orleans, LA 70116
Two three-bedroom units offer open living areas, granite countertops, new appliances, and a backyard for outdoor use.
Property Size2,454 SF
Price / SF$203.34
Days on Market354
Property Features for 2204-06 Pauger Street
General Information
Standard status
Active
Size
2,454 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
backyard
Central Air
Central
2
4
6
Asphalt
Other
Pillar/Post/Pier
Porch
Building Details
Year Built
2023
Buildings
1
Listing Agency:
Compass
Listed By:
Melissa Mcclendon · License #995704113
(504) 417-5131
Source:
Compass
Added: Nov 1, 2025
Changed: Oct 10
Last Checked: Oct 19 at 9:13AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Completed in 2023, this 2,454-square-foot duplex contains two residential units, each with three bedrooms and two full bathrooms. Both sides feature open living areas, granite countertops, updated flooring, new appliances, central air, and central heating. A covered porch and generously sized backyard add outdoor space to the property.
Located at 2204-06 Pauger Street in New Orleans, the property is within walking distance of the French Quarter and near downtown, the CBD, and Metairie. The duplex is positioned for either owner occupancy with a second unit available for rent or leasing both residences as an income property. The property also lies within an X flood zone.
Located at 2204-06 Pauger Street in New Orleans, the property is within walking distance of the French Quarter and near downtown, the CBD, and Metairie. The duplex is positioned for either owner occupancy with a second unit available for rent or leasing both residences as an income property. The property also lies within an X flood zone.
Key Highlights
- 2,454‑square‑foot duplex completed in 2023
- Each unit includes 3 bedrooms and 2 full bathrooms
- Open layouts with granite countertops, new appliances, and updated flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,074
Cap Rate
6.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$621,480
$621.5K
Cap Rate 7%
$443,914
$443.9K
Cap Rate 9%
$345,267
$345.3K
Market Conditions
NOI Build-Up for 2,454 SF
Gross rent
$48.6K $19.80/SF
− Vacancy
−$4.2K −$1.71/SF
EGI
$44.4K $18.09/SF
− OpEx
−$13.3K −$5.43/SF
NOI
$31.1K $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 Rate 5%
$621,480
Cap Rate 7%
$443,914
Cap Rate 9%
$345,267
Alternative Uses
Best Use
Multifamily LT 5
$443.9K
$388.4K – $517.9K
NOI $31,074 @ 7.0% cap · market cap 6.23%
Second Best
Apartment 5plus
$408.0K
$357.0K – $476.0K
NOI $28,562 @ 7.0% cap · market cap 5.72%
Theoretical Best
Office A
$623.7K
$545.8K – $727.7K
NOI $43,661 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,537
Businesses Nearby
Explore this area
Business Placement
Demographics for 70116, LA
10,676
Population
9,620
Households
1.1
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
8,212
Density / Sq Mi
$45,580
Median Household Income
$34,849
Median Earnings
$1,190
Median Rent
$385,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom units offer open living areas, granite countertops, new appliances, and a backyard for outdoor use.
Where is this duplex located?
The property is located at 2204-06 Pauger Street New Orleans, LA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 2,454‑square‑foot duplex completed in 2023; Each unit includes 3 bedrooms and 2 full bathrooms; Open layouts with granite countertops, new appliances, and updated flooring
