Historic Duplex with Flexible
For Sale
$525,000
2473 75 N Rampart St, New Orleans, LA 70117
Two separately metered residences include kitchens, living areas, and an interior connection for combined use.
Property Size2,303 SF
Price / SF$227.96
Days on Market51
Property Features for 2473 75 N Rampart St
General Information
Standard status
Active
Size
2,303 SF
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Amenities
front porch
backyard
composite wood deck
Building Details
Year Built
1875
Construction
Creole Cottage
Listing Agency:
eXp Realty, LLC
Listed By:
Adrienne LaBauve · License #995684424
(504) 344-0877
Source:
Dominionplace
Added: Aug 16
Changed: Sep 4
Last Checked: Oct 4 at 1:11PM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1875, this 2,303-square-foot duplex contains two residences with separate electric meters and one shared water meter. The property offers four bedrooms and two full bathrooms, with an interior connection between units that allows for continued separation or combined occupancy. Character features include hardwood flooring, tall ceilings, fireplace mantels, pocket doors, and a front porch.
The owner’s side includes a double parlor, a 2023-renovated kitchen with granite counters, white cabinetry, and stainless steel appliances, plus an upstairs bedroom. The second residence follows a shotgun-style arrangement with spacious rooms and a kitchen finished with wood cabinetry and tiled counters. Siding, exterior paint, windows, and central HVAC serving the owner’s unit were updated in 2022–2023.
Outdoor space includes a new composite deck at the rear. The property is located in Faubourg Marigny near the Healing Center and within walking distance of Franklin, Pepp’s, Robert’s, Baldwin & Co., restaurants, bars, and live music venues.
The owner’s side includes a double parlor, a 2023-renovated kitchen with granite counters, white cabinetry, and stainless steel appliances, plus an upstairs bedroom. The second residence follows a shotgun-style arrangement with spacious rooms and a kitchen finished with wood cabinetry and tiled counters. Siding, exterior paint, windows, and central HVAC serving the owner’s unit were updated in 2022–2023.
Outdoor space includes a new composite deck at the rear. The property is located in Faubourg Marigny near the Healing Center and within walking distance of Franklin, Pepp’s, Robert’s, Baldwin & Co., restaurants, bars, and live music venues.
Key Highlights
- 2,303 SF duplex built in 1875
- Two units with separate electric meters and one water meter
- Four bedrooms and two full bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,162
Cap Rate
5.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$583,240
$583.2K
Cap Rate 7%
$416,600
$416.6K
Cap Rate 9%
$324,022
$324.0K
Market Conditions
NOI Build-Up for 2,303 SF
Gross rent
$45.6K $19.80/SF
− Vacancy
−$3.9K −$1.71/SF
EGI
$41.7K $18.09/SF
− OpEx
−$12.5K −$5.43/SF
NOI
$29.2K $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 Rate 5%
$583,240
Cap Rate 7%
$416,600
Cap Rate 9%
$324,022
Alternative Uses
Best Use
Multifamily LT 5
$416.6K
$364.5K – $486.0K
NOI $29,162 @ 7.0% cap · market cap 5.55%
Second Best
Apartment 5plus
$382.9K
$335.1K – $446.7K
NOI $26,804 @ 7.0% cap · market cap 5.11%
Theoretical Best
Office A
$585.3K
$512.2K – $682.9K
NOI $40,974 @ 7.0% cap · market cap 7.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,054
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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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately metered residences include kitchens, living areas, and an interior connection for combined use.
Where is this duplex located?
The property is located at 2473 75 N Rampart 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: 2,303 SF duplex built in 1875; Two units with separate electric meters and one water meter; Four bedrooms and two full bathrooms
