Duplex with Detached
For Sale
$485,000
2424 VALENCE Street, New Orleans, LA 70115
Multifamily, New Orleans, LA
Property Size2,749 SF
Price / SF$176.43
Days on Market45
Property Features for 2424 VALENCE Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 1
Parking features
Off Street
Patio and Porch features
Porch
Exterior features
Permeable Paving
Standard status
Active
APN
614324605
Size
2,749 SF
Taxes and HOA fees
Tax Description
SQ 581 LOT 12 VALENCE 30X120 2424-26 VALENCE ST DUP-W TAX SALE 1/10 1%
Legal Description
SQ 581 LOT 12 VALENCE 30X120 2424-26 VALENCE ST DUP-W TAX SALE 1/10 1%
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Water source
Public
Amenities
front porch
upstairs balcony
in-unit laundry
Building Details
Year built
1940
Number of units
2
Building materials
HardiPlank Type
Architectural style
Creole
Buildings
2
Listing Agency:
Keller Williams Realty NO
(504) 862-0100
Listed By:
Philip J Ewbank · License #995700196
(504) 335-7481
Added: Sep 9
Changed: Oct 23
Last Checked: Oct 23 at 3:06PM
MLS# 2575621
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This two-story Creole property contains an upper and lower residence in the main building, plus a separate studio apartment at the rear that remains unfinished. Each of the three spaces is described with two bedrooms, one bathroom, a kitchen, and in-unit laundry. The property totals 2,749 square feet and dates to 1940. Exterior details include a porch, an upstairs balcony, HardiPlank siding, and permeable paving; off-street parking is available.
The address is two doors from Freret Street, with MOJO Coffee, Rouse's, Baya Bar, The Husky, and Cure within walking distance. Public water and sewer serve the property, and natural gas is available.
The address is two doors from Freret Street, with MOJO Coffee, Rouse's, Baya Bar, The Husky, and Cure within walking distance. Public water and sewer serve the property, and natural gas is available.
Key Highlights
- Three living spaces: two in the main building and a detached studio apartment
- 2,749 square feet; built in 1940
- Each space is described with two bedrooms, one bathroom, a kitchen, and in‑unit laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,628
Cap Rate
4.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$472,560
$472.6K
Cap Rate 7%
$337,543
$337.5K
Cap Rate 9%
$262,533
$262.5K
Market Conditions
NOI Build-Up for 2,749 SF
Gross rent
$36.9K $13.44/SF
− Vacancy
−$3.2K −$1.16/SF
EGI
$33.8K $12.28/SF
− OpEx
−$10.1K −$3.68/SF
NOI
$23.6K $8.60/SF
Area
ZIP 70115
Vacancy
8.64%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$472,560
Cap Rate 7%
$337,543
Cap Rate 9%
$262,533
Alternative Uses
Best Use
Multifamily LT 5
$337.5K
$295.4K – $393.8K
NOI $23,628 @ 7.0% cap · market cap 4.87%
Second Best
Apartment 5plus
$299.2K
$261.8K – $349.1K
NOI $20,945 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$725.3K
$634.6K – $846.2K
NOI $50,769 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,724
Businesses Nearby
Explore this area
Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
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 - Three living spaces have separate kitchens, in-unit laundry, and two-bedroom, one-bath layouts.
Where is this duplex located?
The property is located at 2424 VALENCE Street New Orleans, LA.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Three living spaces: two in the main building and a detached studio apartment; 2,749 square feet; built in 1940; Each space is described with two bedrooms, one bathroom, a kitchen, and in‑unit laundry
