New Construction
For Sale
$465,000
2409 1st St, New Orleans, LA 70113
Two separately configured units offer open-concept living areas, private outdoor spaces, gated parking, and a backyard.
Property Size2,343 SF
Price / SF$198.46
Days on Market48
Property Features for 2409 1st St
General Information
Standard status
Active
Size
2,343 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Central City
Public Transit
Yes
Units
Unit Mix
1 x 3BR/2.5BA, 1 x 3BR/2.5BA
Multifamily Units
2
Amenities
private balcony
front porch
backyard
gated off-street parking
Building Details
Year Built
2026
Buildings
1
Listing Agency:
United Real Estate Partners LLC
(504) 305-4930
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Sep 9
Changed: Oct 25
Last Checked: Oct 24 at 4:15PM
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 United Real Estate Partners LLC
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Investment Insights
Based on property information with market context.
Completed in 2026, this duplex contains two three-bedroom residences with a combined six bedrooms, four full bathrooms, and two half baths. Each unit has an open-concept living area and kitchen, while the upper residence adds high ceilings, substantial natural light, and a private balcony with downtown views. The lower residence includes a front porch and a generous living area. Quartz countertops and other upgraded finish materials are incorporated throughout both units.
The property is located at 2409 1st St in New Orleans, with gated off-street parking and a backyard. Refrigerators, microwaves, and electric ranges are scheduled for installation before closing. The St. Charles streetcar line and Garden District are nearby, while the New Orleans Superdome is approximately a 6-minute drive away.
The property is located at 2409 1st St in New Orleans, with gated off-street parking and a backyard. Refrigerators, microwaves, and electric ranges are scheduled for installation before closing. The St. Charles streetcar line and Garden District are nearby, while the New Orleans Superdome is approximately a 6-minute drive away.
Key Highlights
- 2026‑built duplex with two three‑bedroom units
- Six bedrooms, four full bathrooms, and two half baths across both units
- Upper residence includes a private balcony with downtown views
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,668
Cap Rate
6.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$593,360
$593.4K
Cap Rate 7%
$423,829
$423.8K
Cap Rate 9%
$329,644
$329.6K
Market Conditions
NOI Build-Up for 2,343 SF
Gross rent
$46.4K $19.80/SF
− Vacancy
−$4.0K −$1.71/SF
EGI
$42.4K $18.09/SF
− OpEx
−$12.7K −$5.43/SF
NOI
$29.7K $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 Rate 5%
$593,360
Cap Rate 7%
$423,829
Cap Rate 9%
$329,644
Alternative Uses
Best Use
Multifamily LT 5
$423.8K
$370.9K – $494.5K
NOI $29,668 @ 7.0% cap · market cap 6.38%
Second Best
Apartment 5plus
$389.6K
$340.9K – $454.5K
NOI $27,270 @ 7.0% cap · market cap 5.86%
Theoretical Best
Office A
$595.5K
$521.1K – $694.8K
NOI $41,686 @ 7.0% cap · market cap 8.96%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,873
Businesses Nearby
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Business Placement
Demographics for 70113, LA
8,569
Population
5,512
Households
1.6
Avg Household Size
37
Median Age
27%
College-Educated
74%
High-School Grad
0.9 sq mi
ZIP Area
9,521
Density / Sq Mi
$36,897
Median Household Income
$31,126
Median Earnings
$960
Median Rent
$258,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two separately configured units offer open-concept living areas, private outdoor spaces, gated parking, and a backyard.
Where is this duplex located?
The property is located at 2409 1st St New Orleans, LA.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: 2026‑built duplex with two three‑bedroom units; Six bedrooms, four full bathrooms, and two half baths across both units; Upper residence includes a private balcony with downtown views
