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 Market101
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 · License #995712285
(504) 415-0263
Added: May 25
Changed: Aug 19
Last Checked: Sep 2 at 10:06PM
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.
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 = 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
$34,759
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
8.30%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
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
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 - 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
