Renovated Duplex with Historic
For Sale
$469,000
2421 23 Columbus St, New Orleans, LA 70119
Two updated residential units retain original hardwood floors, pocket doors, and high ceilings.
Property Size2,400 SF
Price / SF$195.42
Days on Market68
Property Features for 2421 23 Columbus St
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
1920
Year Renovated
2021
Listing Agency:
Crescent Sotheby's International
Listed By:
Marcel Tullier · License #995694386
(504) 458-5719
Source:
Fiorellaavenue
Added: Aug 13
Changed: Oct 3
Last Checked: Oct 7 at 3:46PM
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 Crescent Sotheby's International
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Investment Insights
Based on property information with market context.
Built in 1920, this duplex offers approximately 2,400 square feet across two residential sides. Each side includes three bedrooms and two bathrooms, with 11-foot ceilings, original hardwood flooring, and historic pocket doors. The property underwent a down-to-the-studs renovation in 2021 and has since received additional refresh work.
Located on Columbus Street in New Orleans, the property sits a short distance from the neutral grounds of Esplanade Avenue. The Fair Grounds, Bayou St. John, and the French Quarter are accessible by walking or bicycle, with local restaurants, coffee shops, and cultural destinations nearby.
Located on Columbus Street in New Orleans, the property sits a short distance from the neutral grounds of Esplanade Avenue. The Fair Grounds, Bayou St. John, and the French Quarter are accessible by walking or bicycle, with local restaurants, coffee shops, and cultural destinations nearby.
Key Highlights
- Approximately 2,400 sq. ft. duplex
- Two 3‑bedroom, 2‑bathroom sides
- Down‑to‑the‑studs renovation completed in 2021
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,390
Cap Rate
6.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$607,800
$607.8K
Cap Rate 7%
$434,143
$434.1K
Cap Rate 9%
$337,667
$337.7K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$47.5K $19.80/SF
− Vacancy
−$4.1K −$1.71/SF
EGI
$43.4K $18.09/SF
− OpEx
−$13.0K −$5.43/SF
NOI
$30.4K $12.66/SF
Area
ZIP 70119
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%
$607,800
Cap Rate 7%
$434,143
Cap Rate 9%
$337,667
Alternative Uses
Best Use
Multifamily LT 5
$434.1K
$379.9K – $506.5K
NOI $30,390 @ 7.0% cap · market cap 6.48%
Second Best
Apartment 5plus
$399.0K
$349.2K – $465.6K
NOI $27,933 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$628.0K
$549.5K – $732.7K
NOI $43,960 @ 7.0% cap · market cap 9.37%
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
1,370
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two updated residential units retain original hardwood floors, pocket doors, and high ceilings.
Where is this duplex located?
The property is located at 2421 23 Columbus St New Orleans, LA.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: Approximately 2,400 sq. ft. duplex; Two 3‑bedroom, 2‑bathroom sides; Down‑to‑the‑studs renovation completed in 2021
