Renovated Duplex with Fenced
For Sale
$319,000
2312 Aubry Street, New Orleans, LA 70119
Two updated units offer open layouts, porches, appliances, and washer/dryer hookups.
Property Size1,832 SF
Price / SF$174.13
Days on Market224
Property Features for 2312 Aubry Street
General Information
Standard status
Active
Size
1,832 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
covered front porch
large back porch
covered patio
fully fenced backyard
driveway
washer/dryer hookups
Central Air
Central
2
4
HOOKUPS
Asphalt
Other
Balcony
Slab: Traditional
Concrete, Stucco
Porch
Building Details
Year Built
2001
Listing Agency:
Galiano Realty
(504) 475-4775
Listed By:
Rachel Silvers · License #995694275
(504) 475-4775
Source:
Compass
Added: Jan 20
Changed: Aug 29
Last Checked: Aug 29 at 6:58PM
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 Galiano Realty
Investment Insights
Based on property information with market context.
This duplex contains two renovated residences, each configured with 2 bedrooms and 1 bathroom. Both units feature open-concept living areas, butcher block countertops, and washer/dryer hookups. The upper residence includes stainless steel appliances, a covered front porch, and a large rear porch facing the fully fenced backyard. The lower residence offers a covered patio and driveway parking. A new roof and new HVAC system add to the property's recent improvements.
Situated in New Orleans, the property provides access to Downtown, the French Quarter, area restaurants, and I-10. The 1,832-square-foot building was constructed in 2001 and combines two residential layouts with outdoor areas and off-street parking.
Situated in New Orleans, the property provides access to Downtown, the French Quarter, area restaurants, and I-10. The 1,832-square-foot building was constructed in 2001 and combines two residential layouts with outdoor areas and off-street parking.
Key Highlights
- Two 2‑bedroom, 1‑bathroom units with open‑concept floor plans
- 1,832 SF duplex built in 2001
- New roof and new HVAC system
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
$23,198
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
7.27%
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%
$463,960
$464.0K
Cap Rate 7%
$331,400
$331.4K
Cap Rate 9%
$257,756
$257.8K
Market Conditions
NOI Build-Up for 1,832 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
$36.3K $19.80/SF
− Vacancy
−$3.1K −$1.71/SF
EGI
$33.1K $18.09/SF
− OpEx
−$9.9K −$5.43/SF
NOI
$23.2K $12.66/SF
Area
ZIP 70119
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%
$463,960
Cap Rate 7%
$331,400
Cap Rate 9%
$257,756
Alternative Uses
Best Use
Multifamily LT 5
$331.4K
$290.0K – $386.6K
NOI $23,198 @ 7.0% cap · market cap 7.27%
Second Best
Apartment 5plus
$304.6K
$266.5K – $355.4K
NOI $21,322 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$479.4K
$419.5K – $559.3K
NOI $33,556 @ 7.0% cap · market cap 10.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,056
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
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 updated units offer open layouts, porches, appliances, and washer/dryer hookups.
Where is this duplex located?
The property is located at 2312 Aubry Street New Orleans, LA.
What is the asking price?
The asking price for this property is $319,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bathroom units with open‑concept floor plans; 1,832 SF duplex built in 2001; New roof and new HVAC system
