Classic Double Renovation
2346-48 Annunciation Street New Orleans, LA 70130
2346-48 Annunciation Street, New Orleans, LA, 70130
$269,000
For Sale
$269,000
Investment opportunity: renovate a classic double near Magazine Street.
Property Size2,088 SF
Price / SF$128.83
Days on Market104
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
Listing Agency
Gilyard And Associates
(504) 460-9852
Listed by
Wanda Salter-Gilyard · License #000012175
(504) 460-9852
Source
Compass
Added: Apr 5 Checked: Jul 17 at 4:32 am
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
Investment Insights
Based on property information with market context.
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.
Key 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.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $48.6k | $23.28 |
| − Vacancy | −$4.4k | −$2.12 |
| EGI | $44.2k | $21.16 |
| − OpEx | −$19.9k | −$9.52 |
| NOI | $24.3k | $11.64 |
2,088 SF · lease $23.28/SF/yr · vacancy 9.10% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$377.7K
$330.5K – $440.7K
NOI $26,439 @ 7.0% cap · market cap 9.83%
Second Best
Apartment 5plus
$347.2K
$303.8K – $405.0K
NOI $24,302 @ 7.0% cap · market cap 9.03%
Theoretical Best
Office A
$530.7K
$464.4K – $619.2K
NOI $37,149 @ 7.0% cap · market cap 13.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
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.
