Duplex with Fenced Rear
For Sale
$230,000
2427 S ROBERTSON Street, New Orleans, LA 70113
Multi-Family, Shot Gun, New Orleans, LA
Property Size1,652 SF
Price / SF$139.23
Days on Market54
Property Features for 2427 S ROBERTSON Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Exterior features
Fence
Fencing
Fenced
Lot features
Regular
Subdivision
Central City
Standard status
Active
APN
2427-SROBERTSONST
Size
1,652 SF
Utilities
Cooling system
Window Unit(s)
Water source
Public
Amenities
fenced yard
Building Details
Year built
1976
Floors in Building
1
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
(504) 455-0100
Listed By:
Sandy Duplessis · License #99562625
(504) 669-8822
Added: Jul 9
Changed: Aug 19
Last Checked: Aug 31 at 9:06PM
MLS# 2566888
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 1,652-square-foot duplex contains two 2-bedroom, 1-bath residences, each with high ceilings, some original hardwood flooring, updated windows, renovated bathrooms, and a private fenced rear yard. The owner’s side received a gut renovation in 2019 that included new framing, insulation, drywall, kitchen cabinetry, and bathroom improvements. The roof and exterior paint were completed in 2021, the electrical system was updated in 2019, and the drain line was replaced and rerouted in 2020.
Both residences have newer window units for cooling, while the 2427 side also has central heat. Tenants are on month-to-month arrangements and have expressed a desire to remain. The property uses public water, has a shingle roof, and is in Flood Zone X. Its Central City setting provides Interstate access and places the duplex a short distance from the French Quarter and Uptown.
Both residences have newer window units for cooling, while the 2427 side also has central heat. Tenants are on month-to-month arrangements and have expressed a desire to remain. The property uses public water, has a shingle roof, and is in Flood Zone X. Its Central City setting provides Interstate access and places the duplex a short distance from the French Quarter and Uptown.
Key Highlights
- 1,652‑square‑foot duplex with two 2‑bedroom, 1‑bath residences
- Each side includes a private fenced rear yard
- Owner’s side gut renovated in 2019 with new framing, insulation, drywall, kitchen cabinets, and bath work
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
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
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
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 residences feature updated interiors, private outdoor space, and month-to-month occupancy in a shotgun-style duplex configuration.
Where is this duplex located?
The property is located at 2427 S ROBERTSON Street 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: 1,652‑square‑foot duplex with two 2‑bedroom, 1‑bath residences; Each side includes a private fenced rear yard; Owner’s side gut renovated in 2019 with new framing, insulation, drywall, kitchen cabinets, and bath work
