Historic Character
New
For Sale
$525,000
2461-2643 Burgundy St, New Orleans, LA 70117
Two-unit property with updated interiors, private outdoor space, and access to the St. Claude Corridor and nearby amenities.
Property Size1,822 SF
Price / SF$288.14
Days on Market5
Property Features for 2461-2643 Burgundy St
General Information
Standard status
Active
Size
1,822 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Amenities
high ceilings
exposed brick fireplaces
private rear yard
storage shed
Building Details
Year Built
1917
Listing Agency:
Riverside Realty, Inc.
(985) 307-1208
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Sep 6
Changed: Sep 9
Last Checked: Sep 9 at 8:28AM
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 Riverside Realty, Inc.
Investment Insights
Based on property information with market context.
Built in 1917, this 1,822-square-foot duplex pairs historic architectural details with modern updates. The larger unit includes two independent bedrooms, one bathroom, high ceilings, exposed brick fireplaces, and a private rear yard with a storage shed. The second unit offers one bedroom and one bathroom, creating a two-unit configuration with separate living spaces.
The property is positioned in the Marigny Triangle with access to the St. Claude Corridor, Crescent Park, Frenchmen Street, restaurants, coffee shops, and entertainment. The property is located in Flood Zone X.
The property is positioned in the Marigny Triangle with access to the St. Claude Corridor, Crescent Park, Frenchmen Street, restaurants, coffee shops, and entertainment. The property is located in Flood Zone X.
Key Highlights
- 1,822‑square‑foot duplex built in 1917
- Larger unit has 2 independent bedrooms and 1 bath
- Second unit includes 1 bedroom and 1 bath
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
$23,071
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
4.39%
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%
$461,420
$461.4K
Cap Rate 7%
$329,586
$329.6K
Cap Rate 9%
$256,344
$256.3K
Market Conditions
NOI Build-Up for 1,822 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
$36.1K $19.80/SF
− Vacancy
−$3.1K −$1.71/SF
EGI
$33.0K $18.09/SF
− OpEx
−$9.9K −$5.43/SF
NOI
$23.1K $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%
$461,420
Cap Rate 7%
$329,586
Cap Rate 9%
$256,344
Alternative Uses
Best Use
Multifamily LT 5
$329.6K
$288.4K – $384.5K
NOI $23,071 @ 7.0% cap · market cap 4.39%
Second Best
Apartment 5plus
$302.9K
$265.1K – $353.4K
NOI $21,206 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$463.1K
$405.2K – $540.3K
NOI $32,416 @ 7.0% cap · market cap 6.17%
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
2,196
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 updated interiors, private outdoor space, and access to the St. Claude Corridor and nearby amenities.
Where is this duplex located?
The property is located at 2461-2643 Burgundy St New Orleans, LA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 1,822‑square‑foot duplex built in 1917; Larger unit has 2 independent bedrooms and 1 bath; Second unit includes 1 bedroom and 1 bath
