Updated Character-Rich
For Sale
$489,000
2234 CAMBRONNE Street, New Orleans, LA 70118
Multi-Family, Traditional, New Orleans, LA
Property Size3,768 SF
Lot Size0.18 Acres
Price / SF$129.78
Days on Market162
Property Features for 2234 CAMBRONNE Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Off Street, Driveway
Exterior features
Fence, Window Screens
Fencing
Fenced
Lot features
Regular
Subdivision
Leonidas
Standard status
Active
APN
307 & 324
Size
3,768 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Description
SQS 307 & 324 LOT 11 CAMBRONNE 51 X 150 2234-36 CAMBRONNE
Legal Description
SQS 307 & 324 LOT 11 CAMBRONNE 51 X 150 2234-36 CAMBRONNE
Utilities
Cooling system
Window Unit(s)
Water source
Public
Amenities
fenced yards
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
(504) 455-0100
Listed By:
Michael Lester · License #995697007
(504) 559-4652
Added: Mar 31
Changed: Aug 25
Last Checked: Sep 8 at 9:06AM
MLS# 2549714
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 1930, this duplex contains two substantial residences, each with three bedrooms and two bathrooms. The 3,768-square-foot property retains original wood flooring and bright living areas, while improvements include a 2022 roof, updated electrical and plumbing, refreshed AC/heating units in 2024, and updated kitchen appliances. Shingle roofing, public water, window screens, and window-unit cooling are also noted.
The property occupies a 51-by-150-foot lot in New Orleans and is situated in an X flood zone. Fenced front and rear yards provide outdoor space, while two driveways and additional off-street parking support both residences. The address is near streetcar service, restaurants, festivals, downtown, and the French Quarter.
The property occupies a 51-by-150-foot lot in New Orleans and is situated in an X flood zone. Fenced front and rear yards provide outdoor space, while two driveways and additional off-street parking support both residences. The address is near streetcar service, restaurants, festivals, downtown, and the French Quarter.
Key Highlights
- Two‑unit duplex with 3,768 square feet
- Each residence offers 3 bedrooms and 2 bathrooms
- 51 x 150 lot in an X flood zone
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
966
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 - Two spacious residences combine historic character with recent roof, system, and appliance updates.
Where is this duplex located?
The property is located at 2234 CAMBRONNE Street 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 residence offers 3 bedrooms and 2 bathrooms; 51 x 150 lot in an X flood zone
