Renovated Duplex with Dual
For Sale
$249,900
2231 ARTS Street, New Orleans, LA 70117
Multifamily, New Orleans, LA
Property Size1,974 SF
Price / SF$126.60
Days on Market162
Property Features for 2231 ARTS Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 4, Bedroom 2, Bedroom 1
Parking
1
Patio and Porch features
Porch
Directions
From the FQ, head N on Franklin Ave, turn left on Tonti, proceed 2 blocks and turn left on Arts St.
Standard status
Active
APN
2231-ARTSST
Size
1,974 SF
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Description
SQ 1166 LOT 16 ARTS 32X110 FR SGLE 8/RMS A/R SEE E002
Legal Description
SQ 1166 LOT 16 ARTS 32X110 FR SGLE 8/RMS A/R SEE E002
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Natural Gas, Central
Cooling system
Central Air
Water source
Public
Amenities
balcony
rain barrels
Building Details
Year built
1920
Number of units
2
Flooring type
Wood
Building materials
Frame, HardiPlank Type
Architectural style
Craftsman
Buildings
1
Listing Agency:
Keller Williams Realty NO
(504) 862-0100
Listed By:
Steven D Flynn · License #995703619
(504) 975-1150
Added: May 16
Changed: Oct 23
Last Checked: Oct 24 at 12:06AM
MLS# 2573237
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,974-square-foot Craftsman duplex was rebuilt from the studs in 2016. Its upper/main residence and ground-floor living area provide separate spaces, each with a kitchen. The property has four bedrooms, two bathrooms, wood flooring, and three balconies or porches. Blown insulation and finished pine flooring are additional interior features.
The home is two blocks from the St. Roch Greenway and minutes from Morris Jeff High School and the International School of Louisiana. Public water and sewer service the property, and natural gas is available.
The home is two blocks from the St. Roch Greenway and minutes from Morris Jeff High School and the International School of Louisiana. Public water and sewer service the property, and natural gas is available.
Key Highlights
- 1,974 square feet with four bedrooms and two bathrooms
- Two distinct living areas and two kitchens
- Separate HVAC systems
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,975
Cap Rate
9.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$459,500
$459.5K
Cap Rate 7%
$328,214
$328.2K
Cap Rate 9%
$255,278
$255.3K
Market Conditions
NOI Build-Up for 1,974 SF
Gross rent
$46.0K $23.28/SF
− Vacancy
−$4.2K −$2.12/SF
EGI
$41.8K $21.16/SF
− OpEx
−$18.8K −$9.52/SF
NOI
$23.0K $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%
$459,500
Cap Rate 7%
$328,214
Cap Rate 9%
$255,278
Alternative Uses
Best Use
Multifamily LT 5
$357.1K
$312.5K – $416.6K
NOI $24,996 @ 7.0% cap · market cap 10.00%
Second Best
Apartment 5plus
$328.2K
$287.2K – $382.9K
NOI $22,975 @ 7.0% cap · market cap 9.19%
Theoretical Best
Office A
$501.7K
$439.0K – $585.4K
NOI $35,121 @ 7.0% cap · market cap 14.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
581
Businesses Nearby
Explore this area
Business Placement
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
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
Frequently Asked Questions
What type of property is this?
Duplex - Two separate HVAC systems serve independent living areas with distinct household uses.
Where is this duplex located?
The property is located at 2231 ARTS Street New Orleans, LA.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: 1,974 square feet with four bedrooms and two bathrooms; Two distinct living areas and two kitchens; Separate HVAC systems
