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 Market88
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: Sep 30
Last Checked: Oct 5 at 11:06AM
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 contains 1,859 square feet on a 0.0353-acre lot at 2441 Chartres Street in New Orleans. The property offers a duplex configuration with a floor plan described as more contemporary and privacy-oriented than traditional shotgun layouts, while retaining its New Orleans cottage character.
Located in the Faubourg Marigny neighborhood, the property is a few blocks from the French Quarter and Frenchmen Street’s music venues, restaurants, cafes, and entertainment. Central heating, central air conditioning, public water service, and a shingle roof support the existing improvements. The property may suit an owner-occupant seeking rental income or an investor seeking a two-unit residential asset.
Located in the Faubourg Marigny neighborhood, the property is a few blocks from the French Quarter and Frenchmen Street’s music venues, restaurants, cafes, and entertainment. Central heating, central air conditioning, public water service, and a shingle roof support the existing improvements. The property may suit an owner-occupant seeking rental income or an investor seeking a two-unit residential asset.
Key Highlights
- Duplex configuration in a cottage‑style building
- 1,859 square feet on a 0.0353‑acre lot
- Built in 1917
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
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Open Analytics
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
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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-unit cottage 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: Duplex configuration in a cottage‑style building; 1,859 square feet on a 0.0353‑acre lot; Built in 1917
