Duplex with Deep Rear
For Sale
$219,000
2410 Royal St, New Orleans, LA 70117
An adaptable floor plan supports multi-tenant occupancy or a potential single-family configuration.
Property Size1,553 SF
Price / SF$141.02
Days on Market8
Property Features for 2410 Royal St
General Information
Standard status
Active
Size
1,553 SF
Property subtype
Multi-Family
Additional Details
Road Access
Yes
Building Details
Year Built
1880
Listing Agency:
FQR Realtors
Listed By:
George Jeansonne · License #995687377
(504) 616-0990
Source:
Fiorellaavenue
Added: Sep 28
Last Checked: Oct 4 at 3:09PM
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 FQR Realtors
Investment Insights
Based on property information with market context.
This 1,553-square-foot duplex was built in 1880 and has a floor plan suited to multi-tenant use or potential conversion to a single-family residence. A deep yard extends behind the building.
The property is on Royal Street in New Orleans’ Marigny neighborhood, near the French Quarter and restaurants and nightlife venues including Paladar 511, Anna’s, and Hotel Peter & Paul.
The property is on Royal Street in New Orleans’ Marigny neighborhood, near the French Quarter and restaurants and nightlife venues including Paladar 511, Anna’s, and Hotel Peter & Paul.
Key Highlights
- 1,553 square feet; built in 1880
- Historically configured as a double, with a layout that can accommodate multiple tenants or a single‑family conversion
- Deep rear yard
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
$19,665
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
8.98%
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%
$393,300
$393.3K
Cap Rate 7%
$280,929
$280.9K
Cap Rate 9%
$218,500
$218.5K
Market Conditions
NOI Build-Up for 1,553 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
$30.7K $19.80/SF
− Vacancy
−$2.7K −$1.71/SF
EGI
$28.1K $18.09/SF
− OpEx
−$8.4K −$5.43/SF
NOI
$19.7K $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%
$393,300
Cap Rate 7%
$280,929
Cap Rate 9%
$218,500
Alternative Uses
Best Use
Multifamily LT 5
$280.9K
$245.8K – $327.8K
NOI $19,665 @ 7.0% cap · market cap 8.98%
Second Best
Apartment 5plus
$258.2K
$225.9K – $301.3K
NOI $18,075 @ 7.0% cap · market cap 8.25%
Theoretical Best
Office A
$394.7K
$345.4K – $460.5K
NOI $27,630 @ 7.0% cap · market cap 12.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,874
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
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 - An adaptable floor plan supports multi-tenant occupancy or a potential single-family configuration.
Where is this duplex located?
The property is located at 2410 Royal St New Orleans, LA.
What is the asking price?
The asking price for this property is $219,000.
What are key features of this property?
This property features: 1,553 square feet; built in 1880; Historically configured as a double, with a layout that can accommodate multiple tenants or a single‑family conversion; Deep rear yard
