1921 Duplex
For Sale
$450,000
2319 LOWERLINE Street, New Orleans, LA 70118
MULTI_FAMILY - New Orleans, LA
Property Size3,169 SF
Lot Size0.12 Acres
Price / SF$142
Days on Market48
Property Features for 2319 LOWERLINE Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Driveway
Patio and Porch features
Porch
Exterior features
Porch
Lot features
Regular
Subdivision
Uptown/Carrollton
Standard status
Active
APN
615312910
Size
3,169 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
FRIBURG SQ 56 LOT 18 PT 17 LOWERLINE 44 X 123 2319-21 LOWERLINE DUP-W FILE #77640 6/98
Legal Description
FRIBURG SQ 56 LOT 18 PT 17 LOWERLINE 44 X 123 2319-21 LOWERLINE DUP-W FILE #77640 6/98
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1921
Floors in Building
2
Number of units
2
Roof type
Asphalt
Architectural style
Other
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
(504) 455-0100
Listed By:
Mary Danna · License #995689808
(504) 669-8822
Added: Jun 25
Last Checked: Aug 11 at 7:06PM
MLS# 2564599
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.
This 1921 duplex offers a classic two-unit layout with open floor plans and hardwood floors. The property includes central air and heat in both units, along with natural light and laundry hookups. The home is being sold strictly as-is, with no repairs made by the seller, making it well suited for buyers planning updates and renovations. Flood Zone X is noted for additional assurance.
Located in Uptown New Orleans, the property is described as being just minutes from Tulane University, Audubon Park, and the St. Charles Streetcar, with nearby Uptown amenities. It sits on a lot size identified at approximately 0.1242 acres, providing space for a renovation-focused income strategy or other residential redevelopment goals.
For investors, this duplex provides a straightforward foundation: two units with established interior finishes and core mechanical features already present, plus laundry hookups that can support tenant day-to-day needs after updates. For owner-occupants, the layout can support living in one unit while renovating the other. With the property priced as a fixer-upper and presented as-is, prospective buyers should plan their scope and budget around cosmetic and system improvements needed to bring the units to their desired condition.
Located in Uptown New Orleans, the property is described as being just minutes from Tulane University, Audubon Park, and the St. Charles Streetcar, with nearby Uptown amenities. It sits on a lot size identified at approximately 0.1242 acres, providing space for a renovation-focused income strategy or other residential redevelopment goals.
For investors, this duplex provides a straightforward foundation: two units with established interior finishes and core mechanical features already present, plus laundry hookups that can support tenant day-to-day needs after updates. For owner-occupants, the layout can support living in one unit while renovating the other. With the property priced as a fixer-upper and presented as-is, prospective buyers should plan their scope and budget around cosmetic and system improvements needed to bring the units to their desired condition.
Key Highlights
- 1921 duplex with approximately 3,169 SF and an open floor plan layout in both units
- Central heat and central air in both units
- Hardwood floors and natural light in both units
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
$40,127
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
8.92%
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%
$802,540
$802.5K
Cap Rate 7%
$573,243
$573.2K
Cap Rate 9%
$445,856
$445.9K
Market Conditions
NOI Build-Up for 3,169 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
$62.7K $19.80/SF
− Vacancy
−$5.4K −$1.71/SF
EGI
$57.3K $18.09/SF
− OpEx
−$17.2K −$5.43/SF
NOI
$40.1K $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%
$802,540
Cap Rate 7%
$573,243
Cap Rate 9%
$445,856
Alternative Uses
Best Use
Multifamily LT 5
$573.2K
$501.6K – $668.8K
NOI $40,127 @ 7.0% cap · market cap 8.92%
Second Best
Apartment 5plus
$526.9K
$461.0K – $614.7K
NOI $36,883 @ 7.0% cap · market cap 8.20%
Theoretical Best
Office A
$805.5K
$704.8K – $939.7K
NOI $56,382 @ 7.0% cap · market cap 12.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
834
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 - As-is 1921 duplex with open floor plans, hardwood floors, central air/heat, and laundry hookups—ready for renovation.
Where is this duplex located?
The property is located at 2319 LOWERLINE 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: 1921 duplex with approximately 3,169 SF and an open floor plan layout in both units; Central heat and central air in both units; Hardwood floors and natural light in both units
