Historic 2-Unit Shotgun
For Sale
$267,000
2517 19 Laharpe St, New Orleans, LA 70119
Historic duplex with two-bedroom units, a fenced yard, rear porch, and dedicated storage space.
Property Size1,708 SF
Price / SF$156.32
Days on Market44
Property Features for 2517 19 Laharpe St
General Information
Standard status
Active
Size
1,708 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
fenced yard
back porch
storage room
12 ft ceilings
Building Details
Year Built
1903
Buildings
1
Construction
shotgun style
Listing Agency:
The Pellerin Group NOLA LLC
(504) 628-7723
Listed By:
Nicole Pellerin · License #995704017
Source:
Dominionplace
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 30 at 8:58PM
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 The Pellerin Group NOLA LLC
Investment Insights
Based on property information with market context.
Built in 1903, this historic shotgun-style duplex contains 1,708 square feet across two residential units. Each unit offers 2 bedrooms and 1 bath, with 12-foot ceilings that add volume to the interior spaces. The property also includes a fenced yard, back porch, and storage room. Hardwood flooring is reported beneath the existing tile.
The property is located in New Orleans’ 7th Ward, minutes from the Fairgrounds and Bayou St. John. City Park, Canal Street, the French Quarter, the CBD, bus lines, bike routes, and neighborhood businesses are also identified in the surrounding area.
The property is located in New Orleans’ 7th Ward, minutes from the Fairgrounds and Bayou St. John. City Park, Canal Street, the French Quarter, the CBD, bus lines, bike routes, and neighborhood businesses are also identified in the surrounding area.
Key Highlights
- Two‑unit duplex with 1,708 square feet
- Each unit includes 2 bedrooms and 1 bath
- Built in 1903 with 12‑foot ceilings
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
$21,628
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
8.10%
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%
$432,560
$432.6K
Cap Rate 7%
$308,971
$309.0K
Cap Rate 9%
$240,311
$240.3K
Market Conditions
NOI Build-Up for 1,708 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
$33.8K $19.80/SF
− Vacancy
−$2.9K −$1.71/SF
EGI
$30.9K $18.09/SF
− OpEx
−$9.3K −$5.43/SF
NOI
$21.6K $12.66/SF
Area
ZIP 70119
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%
$432,560
Cap Rate 7%
$308,971
Cap Rate 9%
$240,311
Alternative Uses
Best Use
Multifamily LT 5
$309.0K
$270.4K – $360.5K
NOI $21,628 @ 7.0% cap · market cap 8.10%
Second Best
Apartment 5plus
$284.0K
$248.5K – $331.3K
NOI $19,879 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$446.9K
$391.1K – $521.4K
NOI $31,285 @ 7.0% cap · market cap 11.72%
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
1,226
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
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 - Historic duplex with two-bedroom units, a fenced yard, rear porch, and dedicated storage space.
Where is this duplex located?
The property is located at 2517 19 Laharpe St New Orleans, LA.
What is the asking price?
The asking price for this property is $267,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,708 square feet; Each unit includes 2 bedrooms and 1 bath; Built in 1903 with 12‑foot ceilings
