Renovated Quadplex with Storefront
For Sale
$529,000
2440 Dumaine Street, New Orleans, LA 70119
Fully occupied quadplex with four renovated 2-bedroom units and a ground-level space that may support a commercial storefront.
Property Size4,141 SF
Price / SF$127.75
Days on Market258
Property Features for 2440 Dumaine Street
General Information
Standard status
Active
Size
4,141 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Additional Details
Multifamily Units
4
Amenities
Central Air
Central
2
4
8
IN UNIT
Asphalt
Pillar/Post/Pier, Slab: Traditional
Stucco
Building Details
Year Built
1928
Year Renovated
2021
Tenancy
Multi
Listing Agency:
eXp Realty, LLC
Listed By:
Precious Winford · License #995702796
(225) 772-2836
Source:
Compass
Added: Dec 19, 2025
Changed: Aug 8
Last Checked: Jul 23 at 3:45PM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
2440 Dumaine Street is a fully occupied quadplex featuring four residential units. Each unit offers 2 bedrooms and 1 bathroom. The property was fully renovated in 2021, and current marketing notes indicate the opportunity for light TLC to further enhance the property over time. In addition to the residential units, there is ground-level space that may have potential for a commercial storefront; buyers are instructed to verify zoning and use.
The property is located in the heart of the Historic Treme District. Historic tax credit qualification is noted in the listing, with certificates referenced in the attachments. Current gross rent is stated at $6,600 per month.
The seller is requesting that tenants are not disturbed, and the property is being sold as-is where is with no repairs by the seller.
The property is located in the heart of the Historic Treme District. Historic tax credit qualification is noted in the listing, with certificates referenced in the attachments. Current gross rent is stated at $6,600 per month.
The seller is requesting that tenants are not disturbed, and the property is being sold as-is where is with no repairs by the seller.
Key Highlights
- Four‑unit multi‑family property (quadplex) with 2 bedrooms and 1 bathroom per unit
- Fully occupied and income‑producing, with gross rent currently $6,600/month
- Renovated in 2021 and offers centralized heating and central air
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
$48,196
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
9.11%
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%
$963,920
$963.9K
Cap Rate 7%
$688,514
$688.5K
Cap Rate 9%
$535,511
$535.5K
Market Conditions
NOI Build-Up for 4,141 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
$96.4K $23.28/SF
− Vacancy
−$8.8K −$2.12/SF
EGI
$87.6K $21.16/SF
− OpEx
−$39.4K −$9.52/SF
NOI
$48.2K $11.64/SF
Area
ZIP 70119
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%
$963,920
Cap Rate 7%
$688,514
Cap Rate 9%
$535,511
Alternative Uses
Best Use
Multifamily LT 5
$749.1K
$655.4K – $873.9K
NOI $52,435 @ 7.0% cap · market cap 9.91%
Second Best
Apartment 5plus
$688.5K
$602.5K – $803.3K
NOI $48,196 @ 7.0% cap · market cap 9.11%
Theoretical Best
Office A
$1.08M
$948.1K – $1.26M
NOI $75,850 @ 7.0% cap · market cap 14.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,710
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
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?
Quadplex - Fully occupied quadplex with four renovated 2-bedroom units and a ground-level space that may support a commercial storefront.
Where is this quadplex located?
The property is located at 2440 Dumaine Street New Orleans, LA.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: Four‑unit multi‑family property (quadplex) with 2 bedrooms and 1 bathroom per unit; Fully occupied and income‑producing, with gross rent currently $6,600/month; Renovated in 2021 and offers centralized heating and central air
