Renovated Duplex with Fenced
For Sale
$230,000
2427 29 S Robertson St, New Orleans, LA 70113
Two residential units offer updated interiors and separate enclosed outdoor space.
Property Size1,652 SF
Price / SF$139.23
Days on Market36
Property Features for 2427 29 S Robertson St
General Information
Standard status
Active
Size
1,652 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
fenced yard
Building Details
Year Built
1976
Buildings
1
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
Listed By:
Sandy Duplessis · License #99562625
(504) 756-7136
Source:
Dominionplace
Added: Aug 6
Changed: Sep 8
Last Checked: Sep 9 at 8:45PM
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 KELLER WILLIAMS REALTY 455-0100
Investment Insights
Based on property information with market context.
This shotgun-style duplex contains two separate residences, each with 2 bedrooms and 1 bathroom. Features include high ceilings, selected original hardwood flooring, updated windows, and remodeled bathrooms. Both units have newer window air-conditioning units, while the 2427 side also includes central heat. One residence received a comprehensive renovation in 2019 with new framing, insulation, drywall, kitchen cabinetry, and bathroom improvements. The property also benefits from a replacement roof and exterior paint completed in 2021, along with an updated electrical system from 2019 and a re-routed drain line replaced in 2020.
Each unit has its own private, fenced rear yard. The property is occupied by month-to-month tenants who would like to remain. It is located in Central City with convenient Interstate access and within a short distance of the French Quarter and Uptown. The property is designated Flood Zone X.
Each unit has its own private, fenced rear yard. The property is occupied by month-to-month tenants who would like to remain. It is located in Central City with convenient Interstate access and within a short distance of the French Quarter and Uptown. The property is designated Flood Zone X.
Key Highlights
- Duplex totals 1,652 square feet with two 2‑bedroom, 1‑bath residences
- Owner's side received a comprehensive renovation in 2019
- New roof and exterior paint completed in 2021
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
$20,918
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
9.09%
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%
$418,360
$418.4K
Cap Rate 7%
$298,829
$298.8K
Cap Rate 9%
$232,422
$232.4K
Market Conditions
NOI Build-Up for 1,652 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
$32.7K $19.80/SF
− Vacancy
−$2.8K −$1.71/SF
EGI
$29.9K $18.09/SF
− OpEx
−$9.0K −$5.43/SF
NOI
$20.9K $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%
$418,360
Cap Rate 7%
$298,829
Cap Rate 9%
$232,422
Alternative Uses
Best Use
Multifamily LT 5
$298.8K
$261.5K – $348.6K
NOI $20,918 @ 7.0% cap · market cap 9.09%
Second Best
Apartment 5plus
$274.7K
$240.3K – $320.5K
NOI $19,227 @ 7.0% cap · market cap 8.36%
Theoretical Best
Office A
$419.9K
$367.4K – $489.9K
NOI $29,392 @ 7.0% cap · market cap 12.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,440
Businesses Nearby
Explore this area
Business Placement
Demographics for 70113, LA
8,569
Population
5,512
Households
1.6
Avg Household Size
37
Median Age
27%
College-Educated
74%
High-School Grad
0.9 sq mi
ZIP Area
9,521
Density / Sq Mi
$36,897
Median Household Income
$31,126
Median Earnings
$960
Median Rent
$258,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer updated interiors and separate enclosed outdoor space.
Where is this duplex located?
The property is located at 2427 29 S Robertson St New Orleans, LA.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Duplex totals 1,652 square feet with two 2‑bedroom, 1‑bath residences; Owner's side received a comprehensive renovation in 2019; New roof and exterior paint completed in 2021
