Renovated Duplex with Private
For Sale
$455,000
2212 Gravier St, New Orleans, LA 70119
Two updated residences offer open layouts, modern finishes, and individual outdoor space in New Orleans’ Medical District.
Property Size2,444 SF
Price / SF$186.17
Days on Market56
Property Features for 2212 Gravier St
General Information
Standard status
Active
Size
2,444 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
private backyard
Building Details
Year Built
1950
Listing Agency:
Demand Realty
Listed By:
Aimee Ashe, Liz Ashe · License #000058172
(504) 837-3000
Source:
Fiorellaavenue
Added: Aug 25
Changed: Oct 13
Last Checked: Oct 7 at 4:05PM
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 Demand Realty
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Investment Insights
Based on property information with market context.
This duplex, built in 1950, contains 2,444 square feet with two separately configured residences. Each unit provides 3 bedrooms, 2 bathrooms, an open floor plan, updated systems, and contemporary interior finishes. A newly installed architectural roof and private backyard areas add to the property’s recent renovation profile and usable outdoor space.
The property is situated in New Orleans’ Medical District, with access to hospitals, universities, downtown, the French Quarter, dining, and entertainment. Its two-unit layout supports residential occupancy while allowing each side to function with the proportions and flow of a single-family home.
The property is situated in New Orleans’ Medical District, with access to hospitals, universities, downtown, the French Quarter, dining, and entertainment. Its two-unit layout supports residential occupancy while allowing each side to function with the proportions and flow of a single-family home.
Key Highlights
- Two‑unit duplex totaling 2,444 square feet
- Each residence includes 3 bedrooms and 2 bathrooms
- Open floor plans with updated systems and modern finishes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,947
Cap Rate
6.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$618,940
$618.9K
Cap Rate 7%
$442,100
$442.1K
Cap Rate 9%
$343,856
$343.9K
Market Conditions
NOI Build-Up for 2,444 SF
Gross rent
$48.4K $19.80/SF
− Vacancy
−$4.2K −$1.71/SF
EGI
$44.2K $18.09/SF
− OpEx
−$13.3K −$5.43/SF
NOI
$30.9K $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 Rate 5%
$618,940
Cap Rate 7%
$442,100
Cap Rate 9%
$343,856
Alternative Uses
Best Use
Multifamily LT 5
$442.1K
$386.8K – $515.8K
NOI $30,947 @ 7.0% cap · market cap 6.80%
Second Best
Apartment 5plus
$406.4K
$355.6K – $474.1K
NOI $28,445 @ 7.0% cap · market cap 6.25%
Theoretical Best
Office A
$639.5K
$559.6K – $746.1K
NOI $44,766 @ 7.0% cap · market cap 9.84%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,565
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two updated residences offer open layouts, modern finishes, and individual outdoor space in New Orleans’ Medical District.
Where is this duplex located?
The property is located at 2212 Gravier St New Orleans, LA.
What is the asking price?
The asking price for this property is $455,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,444 square feet; Each residence includes 3 bedrooms and 2 bathrooms; Open floor plans with updated systems and modern finishes
