Greek Revival Apartment
For Sale
$750,000
2501 Dauphine St, New Orleans, LA 70117
Five-unit corner property with balconies, rear-yard access, and parking for multiple vehicles.
Property Size3,686 SF
Price / SF$203.47
Days on Market35
Property Features for 2501 Dauphine St
General Information
Standard status
Active
Size
3,686 SF
Additional Details
Road Access
Yes
Multifamily Units
5
Amenities
balconies
rear yard
Building Details
Year Built
1850
Construction
Greek Revival
Tenancy
Multi
Listing Agency:
REVE, REALTORS
(504) 352-3357
Listed By:
Ryan Wentworth · License #000071657
Source:
Dominionplace
Added: Jul 29
Changed: Aug 28
Last Checked: Aug 31 at 7:30PM
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 REVE, REALTORS
Investment Insights
Based on property information with market context.
Built in 1850, this five-unit Greek Revival property features a Double Gallery design with substantial interior character. The building includes tall ceilings, original floors and mouldings, exposed fireplaces, and additional architectural detailing inside and out. Front and rear balconies extend the usable outdoor areas, while the corner lot provides rear-yard access, natural light, and parking for multiple vehicles. One unit is owner-occupied, one is vacant, and three are leased.
The property sits at the intersection of Dauphine St and St. Roch Avenue in New Orleans’ Marigny neighborhood. Restaurants, bars, music venues, shops, Crescent Park, and the French Quarter are all described as nearby, with views toward the downtown skyline and passing river traffic. Because the property is configured as five units, cash or commercial financing is required; conventional and FHA/VA financing do not qualify.
The property sits at the intersection of Dauphine St and St. Roch Avenue in New Orleans’ Marigny neighborhood. Restaurants, bars, music venues, shops, Crescent Park, and the French Quarter are all described as nearby, with views toward the downtown skyline and passing river traffic. Because the property is configured as five units, cash or commercial financing is required; conventional and FHA/VA financing do not qualify.
Key Highlights
- Five‑unit configuration with one owner‑occupied unit, one vacant unit, and three leased units
- 1850 Greek Revival Double Gallery property
- Corner lot with rear‑yard access, natural light, and parking for multiple vehicles
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
$42,901
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
5.72%
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%
$858,020
$858.0K
Cap Rate 7%
$612,871
$612.9K
Cap Rate 9%
$476,678
$476.7K
Market Conditions
NOI Build-Up for 3,686 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
$85.8K $23.28/SF
− Vacancy
−$7.8K −$2.12/SF
EGI
$78.0K $21.16/SF
− OpEx
−$35.1K −$9.52/SF
NOI
$42.9K $11.64/SF
Area
New Orleans, LA
Vacancy
9.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$858,020
Cap Rate 7%
$612,871
Cap Rate 9%
$476,678
Alternative Uses
Best Use
Apartment 5plus
$612.9K
$536.3K – $715.0K
NOI $42,901 @ 7.0% cap · market cap 5.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$936.9K
$819.8K – $1.09M
NOI $65,580 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit corner property with balconies, rear-yard access, and parking for multiple vehicles.
Where is this apartment building located?
The property is located at 2501 Dauphine St New Orleans, LA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Five‑unit configuration with one owner‑occupied unit, one vacant unit, and three leased units; 1850 Greek Revival Double Gallery property; Corner lot with rear‑yard access, natural light, and parking for multiple vehicles
