New Construction Duplex
For Sale
$350,000
2530 32 Martin Luther King Jr Boulevard, New Orleans, LA 70113
New duplex construction is planned for 2025, with two units offering 3 bedrooms and 2 baths each.
Property Size2,200 SF
Days on Market159
Property Features for 2530 32 Martin Luther King Jr Boulevard
General Information
Standard status
Active
Size
2,200 SF
Property subtype
Multi Family Home
Additional Details
Multifamily Units
2
Amenities
Stainless steel appliances
Building Details
Building Size
2,200 SF
Year Built
2025
Stories
2
Listing Agency:
Gulf Meridian RealtyÂ
(504) 287-3030
Listed By:
Ashley Henry · License #995694707
(504) 287-3030
Source:
Nolalivingrealty
Added: Mar 6
Changed: Aug 8
Last Checked: Aug 12 at 1:19PM
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 Gulf Meridian RealtyÂ
Investment Insights
Based on property information with market context.
Planned for 2025 build, this new construction duplex offers an income-focused residential configuration with two units. Each unit is laid out with 3 bedrooms and 2 bathrooms, for a total of 6 bedrooms and 4 bathrooms across the property. The units will include stainless steel appliances.
The property is offered for sale.
Gross rents are stated at $3,734 per month.
The property is offered for sale.
Gross rents are stated at $3,734 per month.
Key Highlights
- Planned 2025 duplex construction with two units
- Each unit offers 3 bedrooms and 2 bathrooms
- Total of 6 bedrooms and 4 bathrooms across both units
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
$27,857
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
7.96%
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%
$557,140
$557.1K
Cap Rate 7%
$397,957
$398.0K
Cap Rate 9%
$309,522
$309.5K
Market Conditions
NOI Build-Up for 2,200 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
$43.6K $19.80/SF
− Vacancy
−$3.8K −$1.71/SF
EGI
$39.8K $18.09/SF
− OpEx
−$11.9K −$5.43/SF
NOI
$27.9K $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%
$557,140
Cap Rate 7%
$397,957
Cap Rate 9%
$309,522
Alternative Uses
Best Use
Multifamily LT 5
$398.0K
$348.2K – $464.3K
NOI $27,857 @ 7.0% cap · market cap 7.96%
Second Best
Apartment 5plus
$365.8K
$320.1K – $426.8K
NOI $25,605 @ 7.0% cap · market cap 7.32%
Theoretical Best
Office A
$559.2K
$489.3K – $652.4K
NOI $39,142 @ 7.0% cap · market cap 11.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,683
Businesses Nearby
Explore this area
Business Placement
Demographics for 70113, LA
8,569
Population
5,512
Households
1.6
Avg Household Size
37
Median Age
27%
College-Educated
74%
High-School Grad
0.9 sq mi
ZIP Area
9,521
Density / Sq Mi
$36,897
Median Household Income
$31,126
Median Earnings
$960
Median Rent
$258,500
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 - New duplex construction is planned for 2025, with two units offering 3 bedrooms and 2 baths each.
Where is this duplex located?
The property is located at 2530 32 Martin Luther King Jr Boulevard 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: Planned 2025 duplex construction with two units; Each unit offers 3 bedrooms and 2 bathrooms; Total of 6 bedrooms and 4 bathrooms across both units
