Duplex with Off-Street
For Sale
$355,000
222 South Dorgenois Street, New Orleans, LA 70119
Two-unit property with separately metered utilities and updated systems.
Property Size1,418 SF
Price / SF$250.35
Days on Market312
Property Features for 222 South Dorgenois Street
General Information
Standard status
Active
Size
1,418 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$1,400
Public Transit
Yes
Amenities
off-street parking
Central Air
Central
1
2
4
In unit
Asphalt
Pillar/Post/Pier
Vinyl Siding
Building Details
Year Built
1934
Listing Agency:
Bridgewater Realty Advisors, LLC
Listed By:
Mason McCullough · License #995714063
(504) 298-8631
Source:
Compass
Added: Oct 26, 2025
Changed: Aug 30
Last Checked: Aug 30 at 10:21PM
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 Bridgewater Realty Advisors, LLC
Investment Insights
Based on property information with market context.
This 1,418-square-foot duplex, built in 1934, contains two 2-bedroom, 1-bath units with efficient layouts and central air. Each residence has its own utility metering, while off-street parking serves the property. Updated systems and vinyl siding complement the building’s existing character.
The property is located at 222 South Dorgenois Street in New Orleans, near the Medical District, Canal Streetcar Line, and Lafitte Greenway. Both units are currently leased, providing an operating duplex configuration for an owner-occupant or rental-property buyer.
The property is located at 222 South Dorgenois Street in New Orleans, near the Medical District, Canal Streetcar Line, and Lafitte Greenway. Both units are currently leased, providing an operating duplex configuration for an owner-occupant or rental-property buyer.
Key Highlights
- Two 2BR/1BA units within a 1,418‑square‑foot duplex
- Built in 1934 with updated systems and central air
- Separately metered utilities for each unit
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
$17,955
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
5.06%
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%
$359,100
$359.1K
Cap Rate 7%
$256,500
$256.5K
Cap Rate 9%
$199,500
$199.5K
Market Conditions
NOI Build-Up for 1,418 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
$28.1K $19.80/SF
− Vacancy
−$2.4K −$1.71/SF
EGI
$25.7K $18.09/SF
− OpEx
−$7.7K −$5.43/SF
NOI
$18.0K $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%
$359,100
Cap Rate 7%
$256,500
Cap Rate 9%
$199,500
Alternative Uses
Best Use
Multifamily LT 5
$256.5K
$224.4K – $299.3K
NOI $17,955 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$235.8K
$206.3K – $275.1K
NOI $16,504 @ 7.0% cap · market cap 4.65%
Theoretical Best
Office A
$371.0K
$324.7K – $432.9K
NOI $25,973 @ 7.0% cap · market cap 7.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,857
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 separately metered utilities and updated systems.
Where is this duplex located?
The property is located at 222 South Dorgenois Street New Orleans, LA.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: Two 2BR/1BA units within a 1,418‑square‑foot duplex; Built in 1934 with updated systems and central air; Separately metered utilities for each unit
