New Construction
New
For Sale
$324,500
2424-26 New Orleans St, New Orleans, LA 70119
Two-unit residential property with new finishes, separate kitchens, and a two-bedroom/three-bedroom layout.
Property Size1,753 SF
Price / SF$185.11
Days on Market5
Property Features for 2424-26 New Orleans St
General Information
Standard status
Active
Size
1,753 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
2026
Listing Agency:
Homesmart Realty South
Listed By:
Ajoura rama
(985) 285-5747
Source:
Fiorellaavenue
Added: Sep 6
Last Checked: Sep 9 at 9:47PM
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 Homesmart Realty South
Investment Insights
Based on property information with market context.
This 1,753-square-foot duplex, completed in 2026, contains two newly constructed residential units with distinct layouts. The front residence has 2 bedrooms and 1 bathroom, while the rear residence includes 3 bedrooms and 2 bathrooms. Both units feature light laminate flooring, white interior paint, new appliances, and separate ranges/ovens, microwaves, dishwashers, and refrigerators. A new roof and fencing complete the property improvements.
Located at 2424-26 New Orleans St in New Orleans, the property is identified in the Historic 7th Ward. The two-unit configuration supports separate residential occupancy, with each unit equipped for independent daily use. The mix of unit sizes provides flexibility for an owner-occupant arrangement, multigenerational living, or leasing both residences, as supported by the property’s layout.
Located at 2424-26 New Orleans St in New Orleans, the property is identified in the Historic 7th Ward. The two-unit configuration supports separate residential occupancy, with each unit equipped for independent daily use. The mix of unit sizes provides flexibility for an owner-occupant arrangement, multigenerational living, or leasing both residences, as supported by the property’s layout.
Key Highlights
- Two‑unit duplex at 2424‑26 New Orleans St, New Orleans, LA 70119
- 1,753 SF building completed in 2026
- Front unit: 2 bedrooms and 1 bathroom
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
$22,197
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
6.84%
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%
$443,940
$443.9K
Cap Rate 7%
$317,100
$317.1K
Cap Rate 9%
$246,633
$246.6K
Market Conditions
NOI Build-Up for 1,753 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
$34.7K $19.80/SF
− Vacancy
−$3.0K −$1.71/SF
EGI
$31.7K $18.09/SF
− OpEx
−$9.5K −$5.43/SF
NOI
$22.2K $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 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%
$443,940
Cap Rate 7%
$317,100
Cap Rate 9%
$246,633
Alternative Uses
Best Use
Multifamily LT 5
$317.1K
$277.5K – $370.0K
NOI $22,197 @ 7.0% cap · market cap 6.84%
Second Best
Apartment 5plus
$291.5K
$255.0K – $340.1K
NOI $20,403 @ 7.0% cap · market cap 6.29%
Theoretical Best
Office A
$458.7K
$401.4K – $535.2K
NOI $32,109 @ 7.0% cap · market cap 9.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
874
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
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 - Two-unit residential property with new finishes, separate kitchens, and a two-bedroom/three-bedroom layout.
Where is this duplex located?
The property is located at 2424-26 New Orleans St New Orleans, LA.
What is the asking price?
The asking price for this property is $324,500.
What are key features of this property?
This property features: Two‑unit duplex at 2424‑26 New Orleans St, New Orleans, LA 70119; 1,753 SF building completed in 2026; Front unit: 2 bedrooms and 1 bathroom
