Two-Unit Duplex with
For Sale
$475,000
2225-27 REV JOHN RAPHAEL JR Way, New Orleans, LA 70113
Multifamily, New Orleans, LA
Property Size3,466 SF
Lot Size0.09 Acres
Price / SF$137.05
Days on Market40
Property Features for 2225-27 REV JOHN RAPHAEL JR Way
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
7
Full bathrooms
6
Half bathrooms
2
Rooms
Bathroom 8, Bathroom 1, Bathroom 4, Bathroom 6, Bathroom 2, Bedroom 3, Bedroom 4, Bathroom 7, Bedroom 5, Bedroom 2, Bedroom 1, Bedroom 6, Bathroom 3, Bathroom 5
Patio and Porch features
Porch
Standard status
Active
APN
412302024
Size
3,466 SF
Lot size
0.09 Acres
Additional Details
Tenant in Place
Yes
Individually Metered Utilities
unspecified utilities
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
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2019
Number of units
2
Building materials
HardiPlank Type
Architectural style
Other
Listing Agency:
REVE, REALTORS
(504) 300-0700
Listed By:
Logan D Macrae · License #995705752
(504) 444-9445
Added: Sep 15
Changed: Oct 23
Last Checked: Oct 23 at 11:06PM
MLS# 2577304
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Completed in 2019, this 3,466-square-foot duplex contains two residences, each with three bedrooms, three full bathrooms and one half bath. Interior features include walk-in closets and kitchens with stainless steel appliances. Central heating and air conditioning serve the building, and a front porch and private backyard provide outdoor space. The property occupies a 0.0887-acre lot and has HardiPlank siding, public water and public sewer service.
One residence is tenant occupied, and each unit has a separate utility meter. The property is in New Orleans’ Central City area, near the St. Charles Avenue streetcar line, the Garden District and the CBD.
One residence is tenant occupied, and each unit has a separate utility meter. The property is in New Orleans’ Central City area, near the St. Charles Avenue streetcar line, the Garden District and the CBD.
Key Highlights
- Two‑unit duplex built in 2019
- 3,466 square feet on a 0.0887‑acre lot
- Each residence has 3 bedrooms, 3 full bathrooms and 1 half bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,340
Cap Rate
8.49%
Suggested Prices Based on Cap Rates
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
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 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.
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Lease Details
2
Residential units
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
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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 - Separate utility meters and central heating and air conditioning serve the two residences.
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; 3,466 square feet on a 0.0887‑acre lot; Each residence has 3 bedrooms, 3 full bathrooms and 1 half bath
