Duplex With Separate
For Sale
$275,000
Pending
2457-59 Jasmine Street, New Orleans, LA 70122
Two residential units feature individual driveways, an open floorplan, and a front porch.
Property Size1,800 SF
Days on Market135
Property Features for 2457-59 Jasmine Street
General Information
Standard status
Pending
Size
1,800 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Additional Details
Multifamily Units
2
Amenities
front porch
driveway
Window Unit(s)
Other Heat
1
2
4
Other
Pillar/Post/Pier
Wood Siding
Porch
Building Details
Year Built
1954
Listing Agency:
Homesmart Realty South
Listed By:
Jean Michel · License #000022334
(504) 390-1954
Source:
Compass
Added: Apr 22
Changed: Sep 2
Last Checked: Sep 2 at 11:25PM
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 Homesmart Realty South
Investment Insights
Based on property information with market context.
Built in 1954, this duplex contains 1,800 square feet across two residential units. Each side has its own driveway, while the interiors are described with open floorplans and window unit air conditioning. Other heat is also present.
Exterior features include wood siding, a front porch, and pillar, post, or pier construction. The property has a newer roof and has undergone exterior painting. Its two-unit configuration supports an owner-occupant arrangement with the option to lease the other side.
Exterior features include wood siding, a front porch, and pillar, post, or pier construction. The property has a newer roof and has undergone exterior painting. Its two-unit configuration supports an owner-occupant arrangement with the option to lease the other side.
Key Highlights
- Two‑unit residential property with 1,800 square feet
- Separate driveway serving each unit
- Newer roof and exterior painting
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
$18,648
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
6.78%
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%
$372,960
$373.0K
Cap Rate 7%
$266,400
$266.4K
Cap Rate 9%
$207,200
$207.2K
Market Conditions
NOI Build-Up for 1,800 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
$29.2K $16.20/SF
− Vacancy
−$2.5K −$1.40/SF
EGI
$26.6K $14.80/SF
− OpEx
−$8.0K −$4.44/SF
NOI
$18.6K $10.36/SF
Area
ZIP 70122
Vacancy
8.64%
Lease Rate
$16.20 /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%
$372,960
Cap Rate 7%
$266,400
Cap Rate 9%
$207,200
Alternative Uses
Best Use
Multifamily LT 5
$266.4K
$233.1K – $310.8K
NOI $18,648 @ 7.0% cap · market cap 6.78%
Second Best
Apartment 5plus
$231.4K
$202.5K – $270.0K
NOI $16,198 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$471.0K
$412.1K – $549.5K
NOI $32,970 @ 7.0% cap · market cap 11.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
759
Businesses Nearby
Explore this area
Business Placement
Demographics for 70122, LA
34,986
Population
17,131
Households
2
Avg Household Size
39
Median Age
37%
College-Educated
89%
High-School Grad
6.3 sq mi
ZIP Area
5,553
Density / Sq Mi
$47,613
Median Household Income
$38,248
Median Earnings
$1,196
Median Rent
$274,700
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 residential units feature individual driveways, an open floorplan, and a front porch.
Where is this duplex located?
The property is located at 2457-59 Jasmine Street New Orleans, LA.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Two‑unit residential property with 1,800 square feet; Separate driveway serving each unit; Newer roof and exterior painting
