New Construction
New
For Sale
$324,500
2424-26 NEW ORLEANS Street, New Orleans, LA 70119
Multi-Family, New Orleans, LA
Property Size1,753 SF
Price / SF$185.11
Days on Market6
Property Features for 2424-26 NEW ORLEANS Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Parking features
Carport, Off Street
Patio and Porch features
Porch
Exterior features
Fence, Porch, Window Screens
Fencing
Fenced
Subdivision
Inner City 7th
Lot features
Irregular
Standard status
Active
APN
37W208119
Size
1,753 SF
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2026
Floors in Building
1
Number of units
2
Roof type
Shingle
Listing Agency:
Homesmart Realty South · HomeSmart International
(504) 908-7653
Listed By:
Ajoura rama
(985) 285-5747
Added: Aug 27
Last Checked: Aug 31 at 11:06PM
MLS# 2574218
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.
This under-construction duplex contains 1,753 square feet across two separately configured residences and carries a 2026 year built. The front unit has 2 bedrooms and 1 bathroom, while the rear unit provides 3 bedrooms and 2 bathrooms. Both residences include laminate flooring, white interior paint, new appliances, a shingle roof, fencing, and porch access. Each unit is equipped with its own range/oven, microwave, dishwasher, and refrigerator.
Central heating and central air conditioning serve the property. Parking includes a carport and off-street spaces, while public water provides the water source. The property is located at 2424-26 New Orleans Street in New Orleans’ Historic 7th Ward, with window screens and a fenced exterior also included.
Central heating and central air conditioning serve the property. Parking includes a carport and off-street spaces, while public water provides the water source. The property is located at 2424-26 New Orleans Street in New Orleans’ Historic 7th Ward, with window screens and a fenced exterior also included.
Key Highlights
- 1,753‑square‑foot duplex with two separate units
- Front unit: 2 bedrooms and 1 bathroom
- Rear unit: 3 bedrooms and 2 bathrooms
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
Property Profile
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 separately configured units include contemporary finishes, individual appliances, central HVAC, and covered parking.
Where is this duplex located?
The property is located at 2424-26 NEW ORLEANS Street 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: 1,753‑square‑foot duplex with two separate units; Front unit: 2 bedrooms and 1 bathroom; Rear unit: 3 bedrooms and 2 bathrooms
