Lakeview Duplex Near
For Sale
$450,000
228-30 22nd Street, New Orleans, LA 70124
Income-producing duplex in prime location near restaurants and City Park.
Property Size2,370 SF
Price / SF$189.87
Days on Market104
Property Features for 228-30 22nd Street
General Information
Standard status
Active
Size
2,370 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Building Details
Year Built
1970
Listing Agency:
RE/MAX Affiliates
(504) 421-0197
Listed By:
Shannon Nash · License #995704640
(504) 421-0197
Source:
Compass
Added: Apr 18
Changed: Jul 10
Last Checked: Jul 29 at 12:50PM
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 RE/MAX Affiliates
Investment Insights
Based on property information with market context.
Located in Lakeview, this duplex property offers income-producing rental opportunities. Unit 228 features 3 bedrooms and 2 bathrooms, hardwood floors in the main living area, stainless steel appliances in the eat-in kitchen, and off-street parking for 2 vehicles. Unit 230 includes 2 bedrooms and 1 bathroom, ceiling fans, and closets. The property is conveniently located near restaurants, shops, and provides easy access to the interstate and City Park. The property size is 2370 square feet.
Key Highlights
- Income‑producing rental property in a prime Lakeview location
- Two units: one with 3 bedrooms/2 baths, the other with 2 bedrooms/1 bath
- Unit 228 features hardwood floors, stainless steel appliances, and an eat‑in kitchen
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $46.9k | $19.80 |
| − Vacancy | −$4.1k | −$1.71 |
| EGI | $42.9k | $18.09 |
| − OpEx | −$12.9k | −$5.43 |
| NOI | $30.0k | $12.66 |
2,370 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$428.7K
$375.1K – $500.2K
NOI $30,010 @ 7.0% cap · market cap 6.67%
Second Best
Apartment 5plus
$394.1K
$344.8K – $459.7K
NOI $27,584 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$602.4K
$527.1K – $702.8K
NOI $42,166 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,041
Businesses Nearby
Explore this area
Business Placement
Demographics for 70124, LA
22,777
Population
8,919
Households
2.6
Avg Household Size
37
Median Age
70%
College-Educated
98%
High-School Grad
6.7 sq mi
ZIP Area
3,400
Density / Sq Mi
$121,318
Median Household Income
$66,323
Median Earnings
$1,752
Median Rent
$577,800
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 - Income-producing duplex in prime location near restaurants and City Park.
Where is this duplex located?
The property is located at 228-30 22nd Street New Orleans, LA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Income‑producing rental property in a prime Lakeview location; Two units: one with 3 bedrooms/2 baths, the other with 2 bedrooms/1 bath; Unit 228 features hardwood floors, stainless steel appliances, and an eat‑in kitchen
