Double Shotgun
For Sale
$349,000
Pending
2329 ROUSSEAU Street, New Orleans, LA 70115
Multi-Family, Shot Gun, New Orleans, LA
Property Size1,640 SF
Lot Size0.07 Acres
Days on Market407
Property Features for 2329 ROUSSEAU Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Exterior features
Fence
Fencing
Fenced
Lot features
Regular
Subdivision
Irish Channel
Standard status
Pending
APN
2329-ROUSSEAUST
Size
1,640 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Description
1. SQ 45 LOT 79 ROUSSEAU 31X100 2. =3100 SQ FT 3. FILE #15921
Legal Description
1. SQ 45 LOT 79 ROUSSEAU 31X100 2. =3100 SQ FT 3. FILE #15921
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
brick-accented fireplaces
tall windows
fenced backyard
full appliance package
Building Details
Year built
1900
Floors in Building
1
Number of units
2
Roof type
Asphalt
Architectural style
Other
Listing Agency:
REVE, REALTORS
(504) 300-0700
Listed By:
Clint LaCour · License #78050
(504) 419-8395
Added: Aug 5, 2025
Changed: Aug 25
Last Checked: Sep 15 at 2:06AM
MLS# 2515424
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 duplex contains two side-by-side units within a 1,640-square-foot building. Each residence offers 2 bedrooms and 1 bathroom, with original hardwood and brick flooring, 12-foot ceilings, tall windows, and brick-accented fireplaces. Both units include refrigerators, stoves, ovens, dishwashers, microwaves, washers, and dryers. Central heating and central air serve the property, while the asphalt roof is brand new.
The property occupies a 31 x 100 lot with a fenced backyard and easy street parking. It is located just blocks from Magazine Street in New Orleans, with nearby shops and restaurants. Public water serves the property.
The property occupies a 31 x 100 lot with a fenced backyard and easy street parking. It is located just blocks from Magazine Street in New Orleans, with nearby shops and restaurants. Public water serves the property.
Key Highlights
- 1,640 sq ft duplex with two 2‑bedroom, 1‑bath units
- Brand‑new asphalt roof
- Each unit includes refrigerator, stove, oven, dishwasher, microwave, washer, and dryer
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
$14,096
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
4.04%
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%
$281,920
$281.9K
Cap Rate 7%
$201,371
$201.4K
Cap Rate 9%
$156,622
$156.6K
Market Conditions
NOI Build-Up for 1,640 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
$22.0K $13.44/SF
− Vacancy
−$1.9K −$1.16/SF
EGI
$20.1K $12.28/SF
− OpEx
−$6.0K −$3.68/SF
NOI
$14.1K $8.60/SF
Area
ZIP 70115
Vacancy
8.64%
Lease Rate
$13.44 /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%
$281,920
Cap Rate 7%
$201,371
Cap Rate 9%
$156,622
Alternative Uses
Best Use
Multifamily LT 5
$201.4K
$176.2K – $234.9K
NOI $14,096 @ 7.0% cap · market cap 4.04%
Second Best
Apartment 5plus
$178.5K
$156.2K – $208.3K
NOI $12,496 @ 7.0% cap · market cap 3.58%
Theoretical Best
Office A
$432.7K
$378.6K – $504.8K
NOI $30,288 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
12 ft
Clear height
2
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,393
Businesses Nearby
Explore this area
Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two side-by-side residences feature period finishes, complete appliances, and a fenced outdoor area.
Where is this duplex located?
The property is located at 2329 ROUSSEAU Street New Orleans, LA.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: 1,640 sq ft duplex with two 2‑bedroom, 1‑bath units; Brand‑new asphalt roof; Each unit includes refrigerator, stove, oven, dishwasher, microwave, washer, and dryer
