Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Classic Double Renovation Opportunity Title is generated by Realmo AI

    2346-48 Annunciation Street, New Orleans, LA 70130

    View on Map
    Claim this Listing
    For Sale
    $269,000

    Investment opportunity: renovate a classic double near Magazine Street.

    Type:MULTI FAMILY FOR SALE / Townhouse
    Property size:
    2,088 SF
    Price / SF:
    $128/SF
    Added:
    May 12, 2026
    Days on Market:
    22
    Last Refresh:
    May 15 at 8:32 pm

    Property Features for 2346-48 Annunciation Street

    General Information

    Standard status
    Active
    Size
    2,088 SF
    Property subtype
    MULTI FAMILY FOR SALE / Townhouse

    Building Details

    Year Built
    1929

    We can help!

    Listing Contact
    Wanda Salter-Gilyard
    Wanda Salter-Gilyard

    Listing agent Wanda Salter-Gilyard License #000012175

    Listing office Gilyard And Associates

    Listing date May 12, 2026

    Source Compass

    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 Gilyard And Associates

    HighLights

    • Prime location: One block to Irish Channel and Magazine Street, walking distance to St. Charles streetcar line.
    • Investment opportunity: Dual rental potential or fix and flip project.
    • Six bedrooms and two full bathrooms.
    • X flood zone.
    • Classic shotgun double cottage.
    • Built in 1929.

    Overview

    This shotgun double cottage, situated one block from the Irish Channel, presents an investment opportunity to renovate a classic double. The property offers dual rental potential or a fix and flip project. One side is occupied, while the other is in very poor condition. Located one block from Magazine Street and within walking distance of the St. Charles streetcar line, the property is in an X flood zone. The property size is 2088 square feet. This property is ideal for investors, developers, renovators, or families.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.0766813
    Latitude
    29.9257729

    Nearby Similar for Sale

    • $800,000
      3,850 SF

      Mixed-Use Commercial & Residential Property

      Versatile property with restaurant, bar, retail, and residential spaces.
      8009 DOWNMAN Road, New Orleans, LA 70126
      View Details
    • $450,000
      2,700 SF

      Uptown Bar with Adjoining Lot

      Uptown bar with kitchen, storage, and adjacent vacant lot.
      1832 SEVENTH Street, New Orleans, LA 70115
      View Details
    • $729,000
      2,169 SF

      Magazine Street Commercial Jewel Box

      Freestanding commercial property on a high-profile corner in Uptown New Orleans.
      4332 MAGAZINE Street, New Orleans, LA 70115
      View Details
    • $230,000
      3,847 SF

      New Orleans Commercial Opportunity

      Spacious warehouse ready for custom transformation in New Orleans.
      1637 SERE Street, New Orleans, LA 70122
      View Details
    • $575,000
      1,428 SF

      Warehouse Arts District Commercial Unit

      Commercial unit in vibrant Warehouse Arts District, New Orleans.
      862 CAMP Street, New Orleans, LA 70130
      View Details
    • $850,000
      3,878 SF

      Historic Corner Commercial Opportunity

      Two-level commercial building in a dynamic New Orleans corridor.
      1501 ORETHA C. HALEY Boulevard, New Orleans, LA 70113
      View Details
    • $389,000
      4,016 SF

      Income-Producing Triplex in Broadmoor

      Triplex in central New Orleans with original wood floors.
      3221 UPPERLINE Street, New Orleans, LA 70125
      View Details
    • $580,000
      2,522 SF

      New Construction Duplex in Mid-City

      New construction duplex near Bayou St. John and Lafitte Greenway.
      3107 TOULOUSE Street, New Orleans, LA 70119
      View Details
    • $650,000
      6,900 SF

      Iconic Bywater Commercial Space

      Versatile 6,900 SF space in vibrant Bywater neighborhood.
      4321 SAINT CLAUDE Avenue, New Orleans, LA 70117
      View Details
    • $650,000
      3,900 SF

      Uptown New Orleans Multi-Family Property

      Well-maintained 6-bedroom, 4-bath property near Tulane and Audubon Park.
      2721 CALHOUN Street, New Orleans, LA 70118
      View Details
    • $429,900
      5,020 SF

      Algiers Fourplex Investment Opportunity

      Fourplex in Algiers with income potential and convenient location.
      6001 TULLIS Drive, New Orleans, LA 70131
      View Details
    • $600,000
      3,304 SF

      Renovated Duplex in New Orleans

      Luxurious, renovated duplex with income potential in New Orleans.
      3905 ELYSIAN FIELDS Avenue, New Orleans, LA 70122
      View Details

    FAQs

    What type of property is this?
    Duplex - Investment opportunity: renovate a classic double near Magazine Street.
    Where is this duplex located?
    The property is located at 2346-48 Annunciation Street New Orleans, LA.
    What is the asking price?
    The asking price for this property is $269,000.
    What are key features of this property?
    This property features: Prime location: One block to Irish Channel and Magazine Street, walking distance to St. Charles streetcar line.; Investment opportunity: Dual rental potential or fix and flip project.; Six bedrooms and two full bathrooms.
    (504) 460-9852
    We can help!
    Listing Contact
    Wanda Salter-Gilyard
    Wanda Salter-Gilyard
    Real Estate License ID: 000012175
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2346-48 Annunciation Street, New Orleans, LA 70130
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!