Contemporary Duplex with Off-Street
For Sale
$419,000
Pending
2425-27 FRANKLIN Avenue, New Orleans, LA 70117
Multi-Family, Contemporary, New Orleans, LA
Property Size2,745 SF
Days on Market149
Property Features for 2425-27 FRANKLIN Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Off Street
Lot features
Regular
Subdivision
8TH WARD INNER CITY
Standard status
Pending
APN
425-FRANKLINAV
Size
2,745 SF
Taxes and HOA fees
Tax Description
2425 FRANKLIN AVE 32X120 SQ 1319 LOT 7
Legal Description
2425 FRANKLIN AVE 32X120 SQ 1319 LOT 7
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2024
Floors in Building
2
Number of units
6
Roof type
Shingle
Architectural style
Contemporary
Listing Agency:
REVE, REALTORS
(504) 300-0700
Listed By:
Shontrell Guzman
(504) 415-0263
Added: May 25
Changed: Aug 19
Last Checked: Oct 20 at 6:06AM
MLS# 2559710
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.
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Investment Insights
Based on property information with market context.
Completed in 2024, this contemporary duplex contains 2,745 square feet arranged across two residential units. Each unit includes 3 bedrooms and 2 full baths, while central heating and central air serve the property. Off-street parking, public water service, and a shingle roof add to the building’s core features. One unit is currently occupied, creating an existing rental component for the next owner.
The property is located at 2425-27 Franklin Avenue in New Orleans, near downtown, major hospitals, universities, shopping, dining, and interstate access. The two-unit layout supports either an owner-occupant arrangement or leasing both residences, as described in the property information. A 24-hour notice is required to view the occupied unit.
The property is located at 2425-27 Franklin Avenue in New Orleans, near downtown, major hospitals, universities, shopping, dining, and interstate access. The two-unit layout supports either an owner-occupant arrangement or leasing both residences, as described in the property information. A 24-hour notice is required to view the occupied unit.
Key Highlights
- 2,745‑square‑foot duplex completed in 2024
- Two units, each with 3 bedrooms and 2 full baths
- One unit currently occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,759
Cap Rate
8.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$695,180
$695.2K
Cap Rate 7%
$496,557
$496.6K
Cap Rate 9%
$386,211
$386.2K
Market Conditions
NOI Build-Up for 2,745 SF
Gross rent
$54.4K $19.80/SF
− Vacancy
−$4.7K −$1.71/SF
EGI
$49.7K $18.09/SF
− OpEx
−$14.9K −$5.43/SF
NOI
$34.8K $12.66/SF
Area
New Orleans, LA
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%
$695,180
Cap Rate 7%
$496,557
Cap Rate 9%
$386,211
Alternative Uses
Best Use
Multifamily LT 5
$496.6K
$434.5K – $579.3K
NOI $34,759 @ 7.0% cap · market cap 8.30%
Second Best
Apartment 5plus
$456.4K
$399.4K – $532.5K
NOI $31,949 @ 7.0% cap · market cap 7.63%
Theoretical Best
Office A
$697.7K
$610.5K – $814.0K
NOI $48,838 @ 7.0% cap · market cap 11.66%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
469
Businesses Nearby
Explore this area
Business Placement
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
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 - Newly built two-unit property with one residence occupied and central heating and cooling throughout.
Where is this duplex located?
The property is located at 2425-27 FRANKLIN Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $419,000.
What are key features of this property?
This property features: 2,745‑square‑foot duplex completed in 2024; Two units, each with 3 bedrooms and 2 full baths; One unit currently occupied
