Cottage-Style
For Sale
$375,000
2441 CHARTRES Street, New Orleans, LA 70117
Multi-Family, Cottage, New Orleans, LA
Property Size1,859 SF
Lot Size0.04 Acres
Price / SF$201.72
Days on Market53
Property Features for 2441 CHARTRES Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Lot features
Regular
Subdivision
Faubourg Marigny
Standard status
Active
APN
38W100907
Size
1,859 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Description
SQ 150 LOT A PT 6 CHARTRES & SPAIN 32 X 48 DBLE 4/RM S/R 2437-41 CHARTRES ST
Legal Description
SQ 150 LOT A PT 6 CHARTRES & SPAIN 32 X 48 DBLE 4/RM S/R 2437-41 CHARTRES ST
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1917
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Cottage
Listing Agency:
eXp Realty, LLC
(337) 522-7554
Listed By:
Andre Cardinale
(504) 206-2714
Added: Jul 10
Changed: Aug 28
Last Checked: Aug 31 at 9:06PM
MLS# 2566668
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.
Built in 1917, this cottage-style duplex at 2441 Chartres Street contains 1,859 square feet across two residential units. The property includes central heating, central air conditioning, public water service, and a shingle roof. Its floor plan is described as more functional and private than the traditional shotgun layout common to New Orleans, with modern updates and move-in-ready condition.
The property sits in Faubourg Marigny, a few blocks from the French Quarter and Frenchmen Street’s music venues, restaurants, cafes, and entertainment. The lot measures 0.0353 acres, providing a compact New Orleans residential setting with access to established neighborhood amenities.
The property sits in Faubourg Marigny, a few blocks from the French Quarter and Frenchmen Street’s music venues, restaurants, cafes, and entertainment. The lot measures 0.0353 acres, providing a compact New Orleans residential setting with access to established neighborhood amenities.
Key Highlights
- Two‑unit cottage‑style duplex with 1,859 square feet
- Built in 1917 on a 0.0353‑acre lot
- Central heating and central air conditioning
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
$23,540
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
6.28%
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%
$470,800
$470.8K
Cap Rate 7%
$336,286
$336.3K
Cap Rate 9%
$261,556
$261.6K
Market Conditions
NOI Build-Up for 1,859 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
$36.8K $19.80/SF
− Vacancy
−$3.2K −$1.71/SF
EGI
$33.6K $18.09/SF
− OpEx
−$10.1K −$5.43/SF
NOI
$23.5K $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%
$470,800
Cap Rate 7%
$336,286
Cap Rate 9%
$261,556
Alternative Uses
Best Use
Multifamily LT 5
$336.3K
$294.3K – $392.3K
NOI $23,540 @ 7.0% cap · market cap 6.28%
Second Best
Apartment 5plus
$309.1K
$270.5K – $360.6K
NOI $21,637 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$472.5K
$413.4K – $551.3K
NOI $33,075 @ 7.0% cap · market cap 8.82%
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
2,874
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-unit property with central heating and air conditioning in New Orleans’ Faubourg Marigny neighborhood.
Where is this duplex located?
The property is located at 2441 CHARTRES Street New Orleans, LA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two‑unit cottage‑style duplex with 1,859 square feet; Built in 1917 on a 0.0353‑acre lot; Central heating and central air conditioning
