Contemporary Duplex with Off-Street
New
For Sale
$350,000
2472 VIENNA Street, New Orleans, LA 70122
MULTI_FAMILY - New Orleans, LA
Property Size2,595 SF
Lot Size0.16 Acres
Price / SF$134.87
Days on Market2
Property Features for 2472 VIENNA Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Driveway, Off Street
Exterior features
Fence
Fencing
Fenced
Lot features
Regular
Subdivision
Gentilly
Standard status
Active
APN
38W411509
Size
2,595 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
SQ 4662 LOT 9 77 X 89 2472-74 VIENNA & ARTS ST DBLE 5/RMS EACH A/R
Legal Description
SQ 4662 LOT 9 77 X 89 2472-74 VIENNA & ARTS ST DBLE 5/RMS EACH A/R
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
in-unit laundry
generous storage
Building Details
Year built
2015
Floors in Building
1
Number of units
2
Roof type
Shingle
Architectural style
Contemporary
Listing Agency:
REVE, REALTORS
(504) 300-0700
Listed By:
Celeste Marshall · License #995686000
(504) 220-8558
Added: Aug 10
Last Checked: Aug 11 at 6:06PM
MLS# 2571192
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 2015, this contemporary duplex contains two 3-bedroom, 2-bath residences within a 2595-square-foot property on 0.1573 acres. Each unit has its own bedroom arrangement, in-unit laundry, storage, and separate electric and water meters. Central heating and cooling, a shingle roof, public water, fencing, and driveway and off-street parking complete the improvements.
One residence has been freshly painted and is move-in ready, while the other is currently leased. The structure is raised approximately seven feet above grade. Its New Orleans address places the property in the Milneburg/Gentilly area, near the lakefront corridor, UNO, and major commuter routes.
One residence has been freshly painted and is move-in ready, while the other is currently leased. The structure is raised approximately seven feet above grade. Its New Orleans address places the property in the Milneburg/Gentilly area, near the lakefront corridor, UNO, and major commuter routes.
Key Highlights
- Two 3‑bedroom, 2‑bath units in a 2595‑square‑foot duplex
- Built in 2015 with contemporary architectural styling
- One unit is currently leased; the other has been freshly painted and is move‑in ready
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
$26,885
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
7.68%
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%
$537,700
$537.7K
Cap Rate 7%
$384,071
$384.1K
Cap Rate 9%
$298,722
$298.7K
Market Conditions
NOI Build-Up for 2,595 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
$42.0K $16.20/SF
− Vacancy
−$3.6K −$1.40/SF
EGI
$38.4K $14.80/SF
− OpEx
−$11.5K −$4.44/SF
NOI
$26.9K $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%
$537,700
Cap Rate 7%
$384,071
Cap Rate 9%
$298,722
Alternative Uses
Best Use
Multifamily LT 5
$384.1K
$336.1K – $448.1K
NOI $26,885 @ 7.0% cap · market cap 7.68%
Second Best
Apartment 5plus
$333.6K
$291.9K – $389.2K
NOI $23,353 @ 7.0% cap · market cap 6.67%
Theoretical Best
Office A
$679.0K
$594.2K – $792.2K
NOI $47,532 @ 7.0% cap · market cap 13.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
420
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom units offer separate utilities, in-unit laundry, storage, and convenient parking.
Where is this duplex located?
The property is located at 2472 VIENNA Street New Orleans, LA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two 3‑bedroom, 2‑bath units in a 2595‑square‑foot duplex; Built in 2015 with contemporary architectural styling; One unit is currently leased; the other has been freshly painted and is move‑in ready
