Historic Duplex with Double
For Sale
$525,000
2473 N RAMPART Street, New Orleans, LA 70117
Multi-Family, Creole Cottage, New Orleans, LA
Property Size2,303 SF
Price / SF$227.96
Days on Market155
Property Features for 2473 N RAMPART Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Patio and Porch features
Porch
Exterior features
Fence, Porch
Fencing
Fenced
Lot features
Regular
Subdivision
Marigny
Standard status
Active
APN
38W103018
Size
2,303 SF
Taxes and HOA fees
Tax Description
SQ 370 LOT 2 OR PT 21 N RAMPART
Legal Description
SQ 370 LOT 2 OR PT 21 N RAMPART
Utilities
Heating system
Central
Cooling system
Central Air, Window Unit(s)
Water source
Public
Amenities
front porch
hardwood floors
exposed fireplace mantels
high ceilings
pocket doors
backyard
composite wood deck
Building Details
Year built
1875
Floors in Building
2
Number of units
2
Architectural style
Cottage
Listing Agency:
eXp Realty, LLC
(337) 522-7554
Listed By:
Adrienne LaBauve
(504) 513-3109
Added: Apr 2
Changed: Aug 19
Last Checked: Sep 3 at 11:06AM
MLS# 2547909
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 1875, this 2,303-square-foot duplex combines two distinct living units with an interior connection between them. The property contains four bedrooms and two full bathrooms, with separate kitchens and living areas on each side. Original character includes hardwood flooring, fireplace mantels, high ceilings, pocket doors, and a front porch. One unit includes a double parlor, a 2023 kitchen renovation with granite counters, white cabinetry, and stainless steel appliances, plus an upstairs bedroom. The other follows a shotgun-style arrangement with generously proportioned rooms and a tiled-counter kitchen.
Exterior improvements include siding, paint, windows, and central HVAC work completed in 2022-2023. The fenced rear yard includes a new composite deck. The property is located at 2473 N RAMPART Street in New Orleans’ Faubourg Marigny, near the Healing Center, local restaurants, bars, live music venues, and businesses including Franklin, Pepp's, Robert's, and Baldwin & Co. Public water serves the property.
Exterior improvements include siding, paint, windows, and central HVAC work completed in 2022-2023. The fenced rear yard includes a new composite deck. The property is located at 2473 N RAMPART Street in New Orleans’ Faubourg Marigny, near the Healing Center, local restaurants, bars, live music venues, and businesses including Franklin, Pepp's, Robert's, and Baldwin & Co. Public water serves the property.
Key Highlights
- 2,303‑square‑foot 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 = 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
$29,162
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
5.55%
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%
$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
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
$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 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%
$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
Property Profile
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
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 - Flexible two-unit layout with separate electric meters and period architectural details.
Where is this duplex located?
The property is located at 2473 N RAMPART Street 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‑square‑foot duplex built in 1875; Two units with separate electric meters and one water meter; Four bedrooms and two full bathrooms
