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    Modern Duplex in Central City Title is generated by Realmo AI

    2225-27 REV JOHN RAPHAEL JR Way, New Orleans, LA 70113

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    New
    For Sale
    $500,000

    MULTI_FAMILY - New Orleans, LA

    Property size:
    3,466 SF
    Lot size:
    0.09 Acres
    Price / SF:
    $144/SF
    Added:
    May 19, 2026
    Days on Market:
    5
    Last Refresh:
    May 23 at 12:06 am

    Property Features for 2225-27 REV JOHN RAPHAEL JR Way

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Patio and Porch features
    Porch
    Exterior features
    Fence, Porch
    Fencing
    Fenced
    Standard status
    Active
    APN
    412302024
    Size
    3,466 SF
    Lot size
    0.09 Acres

    Taxes and HOA fees

    Tax Description
    SQ 346 LOT 24 LA SALLE 28 X 138

    Utilities

    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    2019
    Floors in Building
    2
    Number of units
    2
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Logan Macrae
    Logan Macrae

    Listing agent Logan Macrae License #995705752

    Listing office REVE, REALTORS 4827 Prytania St, New Orleans, LA

    Listing date May 19, 2026

    MLS# 2558882 Listing URL

    Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime Central City location, minutes from St. Charles Avenue, Garden District, and CBD
    • Duplex built in 2019, offering modern luxury and New Orleans charm
    • Each unit features 3 bedrooms and 3 full bathrooms, plus a half bath
    • High‑performing investment opportunity with current rents of $4400/month (with room to increase)
    • Units have contemporary finishes, walk‑in closets, and fully equipped kitchens with stainless steel appliances
    • Private backyard and classic front porch for outdoor entertaining

    Overview

    Located in the heart of the vibrant Central City area, this duplex was built in 2019. Each unit features a thoughtful layout with three bedrooms, three full bathrooms, and an additional half bath. The interiors feature contemporary finishes, walk-in closets, and fully equipped kitchens with stainless steel appliances. Exterior highlights include a classic front porch and a private backyard. The property is situated just minutes from the St. Charles Avenue streetcar line, the Garden District, and the corridors of the CBD. The property represents an exceptional opportunity for an owner-occupant or an investor looking for a high-performing asset in a central location. The property size is 3,466 square feet and the lot size is 0.0887 acres. Total rents are currently $4400/mo, and tenants pay all utilities. Each unit is separately metered.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $487.6K
    NOI $43,888 @ 9.00% cap · cautious / downside scenario
    Moderate
    $627.0K
    NOI $43,888 @ 7.00% cap · market / base-case scenario
    Aggressive
    $877.8K
    NOI $43,888 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $68.6k $19.80
    − Vacancy −$5.9k −$1.71
    EGI $62.7k $18.09
    − OpEx −$18.8k −$5.43
    NOI $43.9k $12.66
    3,466 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $627.0K
    $548.6K – $731.5K (±1% cap)
    NOI $43,888 @ 7.0% cap · market cap 8.78%
    Second Best
    Apartment 5plus
    $576.3K
    $504.3K – $672.3K (±1% cap)
    NOI $40,340 @ 7.0% cap · market cap 8.07%
    Theoretical Best
    Office A
    $880.9K
    $770.8K – $1.03M (±1% cap)
    NOI $61,666 @ 7.0% cap · market cap 12.33%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Map

    City
    New Orleans
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.086946
    Latitude
    29.940438

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    FAQs

    What type of property is this?
    Duplex - New Orleans duplex near Garden District and CBD.
    Where is this duplex located?
    The property is located at 2225-27 REV JOHN RAPHAEL JR Way New Orleans, LA.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: Prime Central City location, minutes from St. Charles Avenue, Garden District, and CBD; Duplex built in 2019, offering modern luxury and New Orleans charm; Each unit features **3 bedrooms and 3 full bathrooms**, plus a half bath
    (504) 300-0700
    We can help!
    Listing Contact
    Logan Macrae
    Logan Macrae
    Real Estate License ID: 995705752
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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