Camelback Duplex with Historic
For Sale
$699,900
2221 23 Laurel St, New Orleans, LA 70130
Each unit includes two bedrooms, two full bathrooms, and its own central HVAC system.
Property Size3,463 SF
Price / SF$202.11
Days on Market55
Property Features for 2221 23 Laurel St
General Information
Standard status
Active
Size
3,463 SF
Property subtype
Multi-Family
Building Details
Year Built
1906
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
Listed By:
Al Sidhom
(504) 319-7428
Source:
Fiorellaavenue
Added: Aug 17
Changed: Oct 6
Last Checked: Oct 7 at 3:11PM
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 KELLER WILLIAMS REALTY 455-0100
Investment Insights
Based on property information with market context.
This 3,463-square-foot camelback duplex contains two separately configured units, with each side offering two bedrooms, two full bathrooms, and independent central air conditioning and heat. Original architectural elements include hardwood flooring, 12-foot ceilings, fireplace mantels, pocket doors, traditional shutters, and a broad front porch enclosed by a wrought-iron fence. Both residences connect to a sizable backyard that can support shared or separately managed outdoor use.
Exterior and structural work includes a complete restoration and repainting, along with installation of a Fortified Roof in 2024. Built in 1906, the property is in New Orleans’ Irish Channel, near the dining, cafés, and boutiques along Magazine Street and Jackson Avenue. The duplex format combines historic character with two-unit residential income functionality.
Exterior and structural work includes a complete restoration and repainting, along with installation of a Fortified Roof in 2024. Built in 1906, the property is in New Orleans’ Irish Channel, near the dining, cafés, and boutiques along Magazine Street and Jackson Avenue. The duplex format combines historic character with two-unit residential income functionality.
Key Highlights
- 3,463‑square‑foot camelback duplex with two residential units
- Each unit has 2 bedrooms, 2 full bathrooms, and independent central AC and heating
- Original hardwood floors, 12‑foot ceilings, fireplace mantels, and pocket doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,850
Cap Rate
6.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$877,000
$877.0K
Cap Rate 7%
$626,429
$626.4K
Cap Rate 9%
$487,222
$487.2K
Market Conditions
NOI Build-Up for 3,463 SF
Gross rent
$68.6K $19.80/SF
− Vacancy
−$5.9K −$1.71/SF
EGI
$62.6K $18.09/SF
− OpEx
−$18.8K −$5.43/SF
NOI
$43.9K $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%
$877,000
Cap Rate 7%
$626,429
Cap Rate 9%
$487,222
Alternative Uses
Best Use
Multifamily LT 5
$626.4K
$548.1K – $730.8K
NOI $43,850 @ 7.0% cap · market cap 6.27%
Second Best
Apartment 5plus
$575.8K
$503.8K – $671.8K
NOI $40,305 @ 7.0% cap · market cap 5.76%
Theoretical Best
Office A
$880.2K
$770.2K – $1.03M
NOI $61,613 @ 7.0% cap · market cap 8.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,968
Businesses Nearby
Explore this area
Business Placement
Demographics for 70130, LA
14,521
Population
10,927
Households
1.3
Avg Household Size
38
Median Age
64%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
6,915
Density / Sq Mi
$82,758
Median Household Income
$52,492
Median Earnings
$1,410
Median Rent
$529,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Each unit includes two bedrooms, two full bathrooms, and its own central HVAC system.
Where is this duplex located?
The property is located at 2221 23 Laurel St New Orleans, LA.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 3,463‑square‑foot camelback duplex with two residential units; Each unit has 2 bedrooms, 2 full bathrooms, and independent central AC and heating; Original hardwood floors, 12‑foot ceilings, fireplace mantels, and pocket doors
