Duplex with Off-Street
New
For Sale
$595,000
2308-10 AUDUBON Street, New Orleans, LA 70125
Multi-Family, Traditional, New Orleans, LA
Property Size3,087 SF
Price / SF$192.74
Days on Market3
Property Features for 2308-10 AUDUBON Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Off Street
Patio and Porch features
Porch
Exterior features
Porch Screened In
Lot features
Regular
Subdivision
University
Standard status
Active
APN
PT 51 54
Size
3,087 SF
Taxes and HOA fees
Tax Description
FRIBURG SQ 51-54 LOT A AUDUBON 40X120 2308-10 AUDUBON DUP-W FILE #82775 9/01 FAM TRAN
Legal Description
FRIBURG SQ 51-54 LOT A AUDUBON 40X120 2308-10 AUDUBON DUP-W FILE #82775 9/01 FAM TRAN
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
hardwood floors
built-ins
off-street parking
front sunroom
Building Details
Year built
1928
Floors in Building
2
Number of units
2
Roof type
Asphalt
Architectural style
Other
Listing Agency:
McEnery Residential, LLC
(504) 605-4400
Listed By:
Neil Maki · License #995701923
(504) 982-1115
Added: Sep 14
Last Checked: Sep 16 at 3:06PM
MLS# 2576591
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 1928, this 3,087-square-foot duplex contains eight bedrooms across two leased units. Interior features include hardwood floors, built-in storage, comfortable living areas, and a screened front sunroom in the lower residence. Both HVAC systems were replaced in 2024, while major plumbing improvements were completed in 2026. Refrigerators, washers, and dryers remain with the property.
Off-street parking is provided by a recently poured driveway and rear parking area. Tenants pay electricity, water, and gas. The property is near Tulane and Loyola Universities, with access to Carrollton, Uptown amenities, downtown, Mid-City, and major commuter routes. The asset carries an 8.30% current CAP rate, and the upstairs fourth bedroom may offer additional rental potential subject to applicable requirements and approvals.
Off-street parking is provided by a recently poured driveway and rear parking area. Tenants pay electricity, water, and gas. The property is near Tulane and Loyola Universities, with access to Carrollton, Uptown amenities, downtown, Mid-City, and major commuter routes. The asset carries an 8.30% current CAP rate, and the upstairs fourth bedroom may offer additional rental potential subject to applicable requirements and approvals.
Key Highlights
- 3,087‑square‑foot duplex with 8 bedrooms
- Both units leased; current 8.30% CAP rate
- HVAC systems replaced in 2024
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
$39,089
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
6.57%
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%
$781,780
$781.8K
Cap Rate 7%
$558,414
$558.4K
Cap Rate 9%
$434,322
$434.3K
Market Conditions
NOI Build-Up for 3,087 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
$61.1K $19.80/SF
− Vacancy
−$5.3K −$1.71/SF
EGI
$55.8K $18.09/SF
− OpEx
−$16.8K −$5.43/SF
NOI
$39.1K $12.66/SF
Area
New Orleans, LA
Vacancy
8.64%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$781,780
Cap Rate 7%
$558,414
Cap Rate 9%
$434,322
Alternative Uses
Best Use
Multifamily LT 5
$558.4K
$488.6K – $651.5K
NOI $39,089 @ 7.0% cap · market cap 6.57%
Second Best
Apartment 5plus
$513.3K
$449.1K – $598.8K
NOI $35,929 @ 7.0% cap · market cap 6.04%
Theoretical Best
Office A
$784.6K
$686.5K – $915.4K
NOI $54,923 @ 7.0% cap · market cap 9.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
834
Businesses Nearby
Explore this area
Business Placement
Demographics for 70125, LA
17,457
Population
7,972
Households
2.2
Avg Household Size
33
Median Age
46%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
7,590
Density / Sq Mi
$58,956
Median Household Income
$39,623
Median Earnings
$1,292
Median Rent
$428,600
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Fully leased two-unit property with central HVAC, screened porch space, and tenant-paid utilities.
Where is this duplex located?
The property is located at 2308-10 AUDUBON Street New Orleans, LA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 3,087‑square‑foot duplex with 8 bedrooms; Both units leased; current 8.30% CAP rate; HVAC systems replaced in 2024
