Renovated Shotgun-Style
For Sale
$399,000
Pending
232 S Murat Street, New Orleans, LA 70119
Both residences have private laundry and their own rear patio.
Property Size2,163 SF
Days on Market23
Property Features for 232 S Murat Street
General Information
Standard status
Pending
Size
2,163 SF
Property subtype
Residential Income
Site & Location
Neighborhood
Mid-City
Additional Details
Multifamily Units
2
Amenities
covered front porch
11-foot ceilings
recessed lighting
central HVAC
updated kitchens
updated baths
in-unit washer/dryer
private rear patios
separate rear storage
Building Details
Buildings
1
Construction
shotgun-style
Listing Agency:
Compass Historic
(504) 948-3011
Listed By:
Jennifer Saltaformaggio · License #SALE.77772-ACT
(504) 388-9383
Source:
Exprealty
Added: Oct 9
Changed: Oct 30
Last Checked: Oct 30 at 3:03PM
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 Compass Historic
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,163-square-foot duplex at 232 S Murat Street contains two residences, each with two bedrooms and the option to configure an additional room as a bedroom or office. Renovations include updated kitchens and bathrooms, while 11-foot ceilings, recessed lighting, and central HVAC serve the interiors. Each side has its own washer and dryer, and the property also includes a covered front porch, private rear patios, and a detached storage structure.
The property is in New Orleans’ Mid-City area, near restaurants, coffee shops, and City Park. The two-unit configuration supports occupancy in one residence while renting the other, as well as use as a rental property.
The property is in New Orleans’ Mid-City area, near restaurants, coffee shops, and City Park. The two-unit configuration supports occupancy in one residence while renting the other, as well as use as a rental property.
Key Highlights
- 2,163‑square‑foot duplex at 232 S Murat Street
- Two bedrooms in each unit, with room for a potential third bedroom or office
- 11‑foot ceilings, recessed lighting, and central HVAC
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,389
Cap Rate
6.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$547,780
$547.8K
Cap Rate 7%
$391,271
$391.3K
Cap Rate 9%
$304,322
$304.3K
Market Conditions
NOI Build-Up for 2,163 SF
Gross rent
$42.8K $19.80/SF
− Vacancy
−$3.7K −$1.71/SF
EGI
$39.1K $18.09/SF
− OpEx
−$11.7K −$5.43/SF
NOI
$27.4K $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 Rate 5%
$547,780
Cap Rate 7%
$391,271
Cap Rate 9%
$304,322
Alternative Uses
Best Use
Multifamily LT 5
$391.3K
$342.4K – $456.5K
NOI $27,389 @ 7.0% cap · market cap 6.86%
Second Best
Apartment 5plus
$359.6K
$314.7K – $419.6K
NOI $25,175 @ 7.0% cap · market cap 6.31%
Theoretical Best
Office A
$566.0K
$495.2K – $660.3K
NOI $39,619 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,701
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
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
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have private laundry and their own rear patio.
Where is this duplex located?
The property is located at 232 S Murat Street New Orleans, LA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 2,163‑square‑foot duplex at 232 S Murat Street; Two bedrooms in each unit, with room for a potential third bedroom or office; 11‑foot ceilings, recessed lighting, and central HVAC
