Duplex Income Property with
2305-07 Soniat Street New Orleans, LA 70115
2305-07 Soniat Street, New Orleans, LA, 70115
$585,000
For Sale
$585,000
Two leased units each with in-unit laundry and HVAC support spacious layouts on a single duplex parcel.
Property Size4,261 SF
Price / SF$137.29
Days on Market244
Property Features for 2305-07 Soniat Street
General Information
- Standard status
- Active
- Size
- 4,261 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1940
Listing agency
Satsuma Real Estate LLC
(504) 345-9737
Listed by
William King · License #995688927
(504) 345-9737
Source
Compass
Added: Nov 21, 2025 Updated: Jul 22 at 4:03AM Checked: Jul 22 at 4:03AM
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 Satsuma Real Estate LLC
Investment Insights
Based on property information with market context.
This income-generating duplex offers two separate units with spacious bedroom layouts, two full baths per unit, and dual kitchen setups for flexible day-to-day living. The upstairs unit features high ceilings and abundant natural light, along with a front porch and a rear balcony. The downstairs unit includes a comfortable living area and an updated kitchen configuration. Both units are served by HVAC systems, with washer and dryer provided in each unit.
The property is located just a short walk or bike ride to Tulane and Loyola Universities and is described as being about a half block off Freret St. The duplex is identified as being commercially zoned (HU-MU) and is noted as having an STR permit.
Upstairs and downstairs are currently on 12-month leases, with reported monthly rents of $2,500 for the upstairs unit and $2,250 for the downstairs unit. The downstairs unit has been previously operated as a short-term rental, with reported revenue figures for multiple periods through March 2024.
The property is located just a short walk or bike ride to Tulane and Loyola Universities and is described as being about a half block off Freret St. The duplex is identified as being commercially zoned (HU-MU) and is noted as having an STR permit.
Upstairs and downstairs are currently on 12-month leases, with reported monthly rents of $2,500 for the upstairs unit and $2,250 for the downstairs unit. The downstairs unit has been previously operated as a short-term rental, with reported revenue figures for multiple periods through March 2024.
Key Highlights
- Income‑generating duplex with two leased units; upstairs lease $2,500/month and downstairs lease $2,250/month
- 10 bedrooms total across both units—5 bedrooms on the upstairs layout and 5 bedrooms on the downstairs layout
- Each unit includes in‑unit laundry (washer and dryer in each unit) and has its own heating/cooling setup
Local 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 | $57.3k | $13.44 |
| − Vacancy | −$4.9k | −$1.16 |
| EGI | $52.3k | $12.28 |
| − OpEx | −$15.7k | −$3.68 |
| NOI | $36.6k | $8.60 |
4,261 SF · lease $13.44/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$523.2K
$457.8K – $610.4K
NOI $36,624 @ 7.0% cap · market cap 6.26%
Second Best
Apartment 5plus
$463.8K
$405.8K – $541.1K
NOI $32,466 @ 7.0% cap · market cap 5.55%
Theoretical Best
Office A
$1.12M
$983.7K – $1.31M
NOI $78,692 @ 7.0% cap · market cap 13.45%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Two leased units each with in-unit laundry and HVAC support spacious layouts on a single duplex parcel.
Where is this duplex located?
The property is located at 2305-07 Soniat Street New Orleans, LA.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Income‑generating duplex with two leased units; upstairs lease $2,500/month and downstairs lease $2,250/month; 10 bedrooms total across both units—5 bedrooms on the upstairs layout and 5 bedrooms on the downstairs layout; Each unit includes in‑unit laundry (washer and dryer in each unit) and has its own heating/cooling setup
