2019 Duplex with Private
New
For Sale
$475,000
2225-27 REV JOHN RAPHAEL JR Way, New Orleans, LA 70113
Multi-Family, Camelback, New Orleans, LA
Property Size3,466 SF
Lot Size0.09 Acres
Price / SF$137.05
Days on Market2
Property Features for 2225-27 REV JOHN RAPHAEL JR Way
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Patio and Porch features
Porch
Exterior features
Fence, Porch
Fencing
Fenced
Lot features
Regular
Subdivision
Central City
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
Legal Description
SQ 346 LOT 24 LA SALLE 28 X 138
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
front porch
private backyard
walk-in closets
stainless steel appliances
Building Details
Year built
2019
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
REVE, REALTORS
(504) 300-0700
Listed By:
Logan Macrae · License #995705752
(504) 444-9445
Added: Sep 15
Changed: Sep 16
Last Checked: Sep 16 at 5:06AM
MLS# 2577304
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.
Investment Insights
Based on property information with market context.
Built in 2019, this duplex contains 3,466 square feet across two residential units. Each unit offers three bedrooms, three full bathrooms, an additional half bath, walk-in closets, a contemporary kitchen with stainless steel appliances, and central heating and air conditioning. A front porch and fenced private backyard serve the property, with a shingle roof and public water service.
The property is located at 2225-27 Rev John Raphael Jr Way in New Orleans, near the St. Charles Avenue streetcar line, the Garden District, and CBD corridors. The 0.0887-acre lot includes separate utility metering for each unit, and tenants pay all utilities. Unit 2225 is currently tenant occupied.
The property is located at 2225-27 Rev John Raphael Jr Way in New Orleans, near the St. Charles Avenue streetcar line, the Garden District, and CBD corridors. The 0.0887-acre lot includes separate utility metering for each unit, and tenants pay all utilities. Unit 2225 is currently tenant occupied.
Key Highlights
- Two‑unit duplex built in 2019 with 3,466 square feet
- Each unit includes 3 bedrooms, 3 full bathrooms, and 1 half bath
- Contemporary kitchens with stainless steel appliances and walk‑in closets
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
$40,340
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
8.49%
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%
$806,800
$806.8K
Cap Rate 7%
$576,286
$576.3K
Cap Rate 9%
$448,222
$448.2K
Market Conditions
NOI Build-Up for 3,466 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
$80.7K $23.28/SF
− Vacancy
−$7.3K −$2.12/SF
EGI
$73.3K $21.16/SF
− OpEx
−$33.0K −$9.52/SF
NOI
$40.3K $11.64/SF
Area
New Orleans, LA
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%
$806,800
Cap Rate 7%
$576,286
Cap Rate 9%
$448,222
Alternative Uses
Best Use
Multifamily LT 5
$627.0K
$548.6K – $731.5K
NOI $43,888 @ 7.0% cap · market cap 9.24%
Second Best
Apartment 5plus
$576.3K
$504.3K – $672.3K
NOI $40,340 @ 7.0% cap · market cap 8.49%
Theoretical Best
Office A
$880.9K
$770.8K – $1.03M
NOI $61,666 @ 7.0% cap · market cap 12.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,873
Businesses Nearby
Explore this area
Business Placement
Demographics for 70113, LA
8,569
Population
5,512
Households
1.6
Avg Household Size
37
Median Age
27%
College-Educated
74%
High-School Grad
0.9 sq mi
ZIP Area
9,521
Density / Sq Mi
$36,897
Median Household Income
$31,126
Median Earnings
$960
Median Rent
$258,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom units offer contemporary interiors, separate metering, porches, and fenced outdoor space.
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 $475,000.
What are key features of this property?
This property features: Two‑unit duplex built in 2019 with 3,466 square feet; Each unit includes 3 bedrooms, 3 full bathrooms, and 1 half bath; Contemporary kitchens with stainless steel appliances and walk‑in closets
