New Construction Duplex with
For Sale
$1,599,000
2412 N RAMPART Street, New Orleans, LA 70117
Multi-Family, Traditional, New Orleans, LA
Property Size3,891 SF
Lot Size0.09 Acres
Price / SF$410.95
Days on Market41
Property Features for 2412 N RAMPART Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Garage
Security features
Security
Patio and Porch features
Porch
Exterior features
Balcony, Courtyard, Fence, Porch, Security Cameras
Fencing
Fenced
Lot features
Oversized, Regular
Subdivision
MARIGNY RECTANGLE
Standard status
Active
APN
2412Ranoart
Size
3,891 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Description
SQ 274 LOT 2
Legal Description
SQ 274 LOT 2
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
pool
laundry centers
water filtration system
natural gas generator
terraces
balconies
soundproofing
Building Details
Year built
2024
Floors in Building
3
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
Keller Williams Realty New Orleans
(504) 862-0100
Listed By:
Chris Smith · License #000009641
(504) 231-2004
Added: Jul 24
Changed: Aug 26
Last Checked: Sep 2 at 6:06PM
MLS# 2569266
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Completed in 2024, this 3,891-square-foot duplex property combines a primary residence with separate guest and rental accommodations. The owner's residence includes 5 bedrooms and 4 full baths, expansive living areas, a private 1-bedroom, 1-bath guest suite, and a chef's kitchen with quartz counters, custom wood cabinetry, and professional-series stainless steel appliances. Hardwood floors, architectural detailing, soundproofing between units, and three separate laundry centers add functional depth. An elevator, ADA-friendly features, attached two-car garage, whole-house filtration system, and natural gas generator are also included.
Outdoor improvements include a fenced backyard, multiple terraces and balconies, and a new in-ground pool equipped with a heater and chiller. The 30' Wide x 127' Deep lot is in the X Flood Zone. The property sits 3 short blocks from Frenchmen Street and near Hotel Peter & Paul, The Elysian Bar, Who Dat Coffee Cafe, Robert Fresh Market, SukhoThai, Ruby Slipper, and Ayu Bakehouse. Balconies and terraces provide views toward Saint Peter & Paul Church, the Greater New Orleans Bridge, and the Downtown Skyline.
Outdoor improvements include a fenced backyard, multiple terraces and balconies, and a new in-ground pool equipped with a heater and chiller. The 30' Wide x 127' Deep lot is in the X Flood Zone. The property sits 3 short blocks from Frenchmen Street and near Hotel Peter & Paul, The Elysian Bar, Who Dat Coffee Cafe, Robert Fresh Market, SukhoThai, Ruby Slipper, and Ayu Bakehouse. Balconies and terraces provide views toward Saint Peter & Paul Church, the Greater New Orleans Bridge, and the Downtown Skyline.
Key Highlights
- 3,891 square feet on a 30' Wide x 127' Deep lot
- 2024 construction with 5 bedrooms and 4 full baths in the owner's residence
- Separate legal 1 bedroom and 1 bath income‑producing apartment
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
$49,270
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
3.08%
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%
$985,400
$985.4K
Cap Rate 7%
$703,857
$703.9K
Cap Rate 9%
$547,444
$547.4K
Market Conditions
NOI Build-Up for 3,891 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
$77.0K $19.80/SF
− Vacancy
−$6.7K −$1.71/SF
EGI
$70.4K $18.09/SF
− OpEx
−$21.1K −$5.43/SF
NOI
$49.3K $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%
$985,400
Cap Rate 7%
$703,857
Cap Rate 9%
$547,444
Alternative Uses
Best Use
Multifamily LT 5
$703.9K
$615.9K – $821.2K
NOI $49,270 @ 7.0% cap · market cap 3.08%
Second Best
Apartment 5plus
$647.0K
$566.1K – $754.8K
NOI $45,287 @ 7.0% cap · market cap 2.83%
Theoretical Best
Office A
$989.0K
$865.3K – $1.15M
NOI $69,227 @ 7.0% cap · market cap 4.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,240
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 - Elevator access, ADA-friendly design, and an attached garage support flexible residential use.
Where is this duplex located?
The property is located at 2412 N RAMPART Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: 3,891 square feet on a 30' Wide x 127' Deep lot; 2024 construction with 5 bedrooms and 4 full baths in the owner's residence; Separate legal 1 bedroom and 1 bath income‑producing apartment
