New Construction Duplex with
For Sale
$349,900
2405-07 Feliciana St, New Orleans, LA 70117
Two three-bedroom units offer open-plan interiors, contemporary finishes, outdoor spaces, and supplied laundry appliances.
Property Size2,187 SF
Price / SF$159.99
Days on Market45
Property Features for 2405-07 Feliciana St
General Information
Standard status
Active
Size
2,187 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
2026
Buildings
1
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
Listed By:
John McCann · License #995704833
(504) 289-4810
Source:
Fiorellaavenue
Added: Jul 21
Changed: Aug 29
Last Checked: Sep 1 at 10:14PM
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 KELLER WILLIAMS REALTY 455-0100
Investment Insights
Based on property information with market context.
Completed in 2026, this 2,187-square-foot duplex contains two residences, each with 3 bedrooms, 2 full bathrooms, open living space, modern finishes, and abundant natural light. The lower home includes a covered front porch, while the upper residence adds both a front porch and a private balcony with views toward the Crescent City Connection.
The property is equipped for immediate occupancy with a range, microwave hood, and stackable washer and dryer in each unit. A FORTIFIED roof provides a defined durability feature, and the air-conditioning systems carry a 10-year warranty. An additional newly built duplex at 2401 03 Feliciana St. is also available for buyers considering a side-by-side package acquisition.
The property is equipped for immediate occupancy with a range, microwave hood, and stackable washer and dryer in each unit. A FORTIFIED roof provides a defined durability feature, and the air-conditioning systems carry a 10-year warranty. An additional newly built duplex at 2401 03 Feliciana St. is also available for buyers considering a side-by-side package acquisition.
Key Highlights
- Two‑unit duplex totaling 2,187 SF, with 3 bedrooms and 2 full bathrooms per unit
- 2026 construction with a FORTIFIED roof
- Upper unit includes a private balcony with views of the Crescent City Connection
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
$27,693
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
7.91%
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%
$553,860
$553.9K
Cap Rate 7%
$395,614
$395.6K
Cap Rate 9%
$307,700
$307.7K
Market Conditions
NOI Build-Up for 2,187 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
$43.3K $19.80/SF
− Vacancy
−$3.7K −$1.71/SF
EGI
$39.6K $18.09/SF
− OpEx
−$11.9K −$5.43/SF
NOI
$27.7K $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%
$553,860
Cap Rate 7%
$395,614
Cap Rate 9%
$307,700
Alternative Uses
Best Use
Multifamily LT 5
$395.6K
$346.2K – $461.6K
NOI $27,693 @ 7.0% cap · market cap 7.91%
Second Best
Apartment 5plus
$363.6K
$318.2K – $424.2K
NOI $25,454 @ 7.0% cap · market cap 7.27%
Theoretical Best
Office A
$555.9K
$486.4K – $648.5K
NOI $38,910 @ 7.0% cap · market cap 11.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
425
Businesses Nearby
Explore this area
Business Placement
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
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 - Two three-bedroom units offer open-plan interiors, contemporary finishes, outdoor spaces, and supplied laundry appliances.
Where is this duplex located?
The property is located at 2405-07 Feliciana St New Orleans, LA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,187 SF, with 3 bedrooms and 2 full bathrooms per unit; 2026 construction with a FORTIFIED roof; Upper unit includes a private balcony with views of the Crescent City Connection
