All-Brick Duplex with Shared
For Sale
$225,000
2209-11 A P Tureaud Avenue, New Orleans, LA 70119
Two-unit property with central HVAC, included appliances, and an eat-in kitchen.
Property Size1,768 SF
Price / SF$127.26
Days on Market174
Property Features for 2209-11 A P Tureaud Avenue
General Information
Standard status
Active
Size
1,768 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Site & Location
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Gross Income
$33,600
Multifamily Units
2
Amenities
shared spacious backyard
eat-in kitchen
tile or wood floors
central air and heat
Central Air
Central
1
2
6
Asphalt
Pillar/Post/Pier
Brick
Porch
Building Details
Year Built
1977
Buildings
1
Construction
all-brick
Tenancy
Multi
Listing Agency:
Southern Spirit Realty
Listed By:
Keisha Washington · License #000073092
(504) 319-2693
Source:
Compass
Added: Mar 13
Changed: Sep 2
Last Checked: Sep 2 at 12:20AM
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 Southern Spirit Realty
Investment Insights
Based on property information with market context.
This 1977 duplex offers 1,768 square feet within an all-brick exterior and includes a shared backyard. Interior features include an eat-in kitchen, tile or wood flooring, central air and heat, and bright neutral wall colors. Stoves and refrigerators convey with the property, which is offered in as-is condition. A newer roof adds to the building’s existing improvements.
Located at 2209-11 A P Tureaud Avenue, the property sits along a major thoroughfare near stores, services, and eateries. The surrounding community is accessible by bicycle and on foot, with public transportation and the public library also readily accessible.
The duplex configuration, appliance package, central HVAC, and shared outdoor space provide a practical residential income property format.
Located at 2209-11 A P Tureaud Avenue, the property sits along a major thoroughfare near stores, services, and eateries. The surrounding community is accessible by bicycle and on foot, with public transportation and the public library also readily accessible.
The duplex configuration, appliance package, central HVAC, and shared outdoor space provide a practical residential income property format.
Key Highlights
- 1,768 SF duplex built in 1977
- All‑brick exterior with a newer roof
- Shared spacious backyard
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
$20,577
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
9.15%
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%
$411,540
$411.5K
Cap Rate 7%
$293,957
$294.0K
Cap Rate 9%
$228,633
$228.6K
Market Conditions
NOI Build-Up for 1,768 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
$41.2K $23.28/SF
− Vacancy
−$3.7K −$2.12/SF
EGI
$37.4K $21.16/SF
− OpEx
−$16.8K −$9.52/SF
NOI
$20.6K $11.64/SF
Area
ZIP 70119
Vacancy
9.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$411,540
Cap Rate 7%
$293,957
Cap Rate 9%
$228,633
Alternative Uses
Best Use
Multifamily LT 5
$319.8K
$279.8K – $373.1K
NOI $22,387 @ 7.0% cap · market cap 9.95%
Second Best
Apartment 5plus
$294.0K
$257.2K – $343.0K
NOI $20,577 @ 7.0% cap · market cap 9.15%
Theoretical Best
Office A
$462.6K
$404.8K – $539.7K
NOI $32,384 @ 7.0% cap · market cap 14.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
972
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 property with central HVAC, included appliances, and an eat-in kitchen.
Where is this duplex located?
The property is located at 2209-11 A P Tureaud Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 1,768 SF duplex built in 1977; All‑brick exterior with a newer roof; Shared spacious backyard
