Updated Two-Unit
For Sale
$489,000
2234 36 Cambronne St, New Orleans, LA 70118
Well-maintained income property with refreshed systems, private yards, and off-street parking for both residences.
Property Size3,768 SF
Lot Size0.18 Acres
Price / SF$129.78
Days on Market39
Property Features for 2234 36 Cambronne St
General Information
Standard status
Active
Size
3,768 SF
Lot size
0.18 Acres
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Building Details
Year Built
1930
Buildings
1
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
(504) 559-4652
Listed By:
Michael Lester · License #995697007
Source:
Dominionplace
Added: Jul 25
Changed: Aug 30
Last Checked: Aug 31 at 6:35PM
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 3,768-square-foot duplex contains two residences, each with 3 bedrooms and 2 bathrooms. Both units feature original wood flooring, bright living areas, updated kitchen appliances, and substantial interior space. The property has received electrical and plumbing updates, a roof replacement in 2022, and refreshed AC/heating units in 2024.
Set on a 51 x 150 lot in an X flood zone, the property includes fenced front and rear yards plus two long driveways serving the residences. The address is near streetcar service, local restaurants, festivals, downtown New Orleans, and the French Quarter.
Set on a 51 x 150 lot in an X flood zone, the property includes fenced front and rear yards plus two long driveways serving the residences. The address is near streetcar service, local restaurants, festivals, downtown New Orleans, and the French Quarter.
Key Highlights
- Two‑unit duplex with 3,768 square feet
- Each unit includes 3 bedrooms and 2 bathrooms
- New roof installed in 2022
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
$43,855
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
8.97%
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%
$877,100
$877.1K
Cap Rate 7%
$626,500
$626.5K
Cap Rate 9%
$487,278
$487.3K
Market Conditions
NOI Build-Up for 3,768 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
$87.7K $23.28/SF
− Vacancy
−$8.0K −$2.12/SF
EGI
$79.7K $21.16/SF
− OpEx
−$35.9K −$9.52/SF
NOI
$43.9K $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%
$877,100
Cap Rate 7%
$626,500
Cap Rate 9%
$487,278
Alternative Uses
Best Use
Multifamily LT 5
$681.6K
$596.4K – $795.2K
NOI $47,712 @ 7.0% cap · market cap 9.76%
Second Best
Apartment 5plus
$626.5K
$548.2K – $730.9K
NOI $43,855 @ 7.0% cap · market cap 8.97%
Theoretical Best
Office A
$957.7K
$838.0K – $1.12M
NOI $67,039 @ 7.0% cap · market cap 13.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
969
Businesses Nearby
Explore this area
Business Placement
Demographics for 70118, LA
35,635
Population
15,464
Households
2.3
Avg Household Size
31
Median Age
54%
College-Educated
92%
High-School Grad
4.6 sq mi
ZIP Area
7,747
Density / Sq Mi
$62,665
Median Household Income
$28,199
Median Earnings
$1,257
Median Rent
$451,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained income property with refreshed systems, private yards, and off-street parking for both residences.
Where is this duplex located?
The property is located at 2234 36 Cambronne St New Orleans, LA.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: Two‑unit duplex with 3,768 square feet; Each unit includes 3 bedrooms and 2 bathrooms; New roof installed in 2022
