Duplex with Covered Rear
For Sale
$234,900
2429 Almonaster Avenue, New Orleans, LA 70117
Two cottage-style residences feature open living areas, private porches, and stackable laundry hookups.
Property Size1,798 SF
Price / SF$130.65
Days on Market149
Property Features for 2429 Almonaster Avenue
General Information
Standard status
Active
Size
1,798 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
porch
covered rear porch
laundry hookups
Central Air
Central
1
2
4
Asphalt
Pillar/Post/Pier
Building Details
Year Built
2022
Buildings
1
Construction
cottage style
Listing Agency:
Century 21 Action Realty, Inc.
Listed By:
Heather Laughlin · License #995689439
(504) 256-6180
Source:
Compass
Added: Apr 7
Changed: Aug 31
Last Checked: Aug 31 at 4:06AM
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 Century 21 Action Realty, Inc.
Investment Insights
Based on property information with market context.
Built in 2022, this 1,798-square-foot duplex contains two cottage-style residences. Each unit offers an open kitchen and living area, two bedrooms, one full bathroom, and interior hookups for a stackable washer and dryer. Central air serves the property. The front residence includes a porch and a separate vanity area adjacent to the bathroom’s tub and shower. The rear residence adds a small front porch plus a covered porch at the back overlooking the yard.
The property is located at 2429 Almonaster Avenue in New Orleans, Louisiana, with asphalt exterior surfacing and a pillar, post, or pier foundation system. Its two-unit configuration provides distinct residential spaces within one 2022-built property.
The property is located at 2429 Almonaster Avenue in New Orleans, Louisiana, with asphalt exterior surfacing and a pillar, post, or pier foundation system. Its two-unit configuration provides distinct residential spaces within one 2022-built property.
Key Highlights
- 1,798 SF duplex built in 2022
- Two units, each with 2 bedrooms and 1 full bath
- Open kitchen and living areas in both residences
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
$20,927
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
8.91%
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%
$418,540
$418.5K
Cap Rate 7%
$298,957
$299.0K
Cap Rate 9%
$232,522
$232.5K
Market Conditions
NOI Build-Up for 1,798 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
$41.9K $23.28/SF
− Vacancy
−$3.8K −$2.12/SF
EGI
$38.0K $21.16/SF
− OpEx
−$17.1K −$9.52/SF
NOI
$20.9K $11.64/SF
Area
New Orleans, LA
Vacancy
9.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$418,540
Cap Rate 7%
$298,957
Cap Rate 9%
$232,522
Alternative Uses
Best Use
Multifamily LT 5
$325.2K
$284.6K – $379.5K
NOI $22,767 @ 7.0% cap · market cap 9.69%
Second Best
Apartment 5plus
$299.0K
$261.6K – $348.8K
NOI $20,927 @ 7.0% cap · market cap 8.91%
Theoretical Best
Office A
$457.0K
$399.9K – $533.2K
NOI $31,989 @ 7.0% cap · market cap 13.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
395
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 - Two cottage-style residences feature open living areas, private porches, and stackable laundry hookups.
Where is this duplex located?
The property is located at 2429 Almonaster Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $234,900.
What are key features of this property?
This property features: 1,798 SF duplex built in 2022; Two units, each with 2 bedrooms and 1 full bath; Open kitchen and living areas in both residences
