New Orleans Income-Producing
2424-26 Independence Street New Orleans, LA 70117
2424-26 Independence Street, New Orleans, LA, 70117
$325,000
For Sale
$325,000
Well-maintained duplex with long-term tenants in place, built in 2020.
Property Size2,400 SF
Price / SF$135.42
Days on Market251
Property Features for 2424-26 Independence Street
General Information
- Standard status
- Active
- Size
- 2,400 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 2021
Listing Agency
Joli Burrell Real Estate
(504) 982-5654
Listed by
Joli' Burrell · License #995695725
(504) 982-5654
Source
Compass
Added: Nov 8, 2025 Checked: Jul 17 at 4:15 am
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 Joli Burrell Real Estate
Investment Insights
Based on property information with market context.
This well-maintained duplex is located in New Orleans. Constructed approximately 4 years ago, this newer construction features two units. Each unit includes 3 bedrooms and 2 full bathrooms. Both units are currently leased to long-term tenants, providing immediate cash flow. One unit is on a month-to-month lease, offering flexibility. Modern systems are in place throughout the property. The property is suitable for investors or buyers seeking rental income in a convenient New Orleans location with easy access to major corridors and local amenities. The property size is 2400 square feet.
Key Highlights
- Income‑producing double with long‑term tenants offering immediate cash flow
- Newer construction (built in 2021) with modern systems
- Each unit features 3 bedrooms and 2 full bathrooms, offering spacious living
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $55.9k | $23.28 |
| − Vacancy | −$5.1k | −$2.12 |
| EGI | $50.8k | $21.16 |
| − OpEx | −$22.9k | −$9.52 |
| NOI | $27.9k | $11.64 |
2,400 SF · lease $23.28/SF/yr · vacancy 9.10% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$434.1K
$379.9K – $506.5K
NOI $30,390 @ 7.0% cap · market cap 9.35%
Second Best
Apartment 5plus
$399.0K
$349.2K – $465.6K
NOI $27,933 @ 7.0% cap · market cap 8.59%
Theoretical Best
Office A
$610.0K
$533.8K – $711.7K
NOI $42,700 @ 7.0% cap · market cap 13.14%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Well-maintained duplex with long-term tenants in place, built in 2020.
Where is this duplex located?
The property is located at 2424-26 Independence Street New Orleans, LA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Income‑producing double with long‑term tenants offering immediate cash flow; Newer construction (built in 2021) with modern systems; Each unit features **3 bedrooms and 2 full bathrooms**, offering spacious living
