Turnkey Duplex with In-Unit
2536-2538 State Street New Orleans, LA 70118
2536-2538 State Street, New Orleans, LA, 70118
$499,000
For Sale
$499,000
Turnkey double with two private bedrooms, one full bath, and in-unit laundry in each unit.
Property Size1,940 SF
Price / SF$257.22
Days on Market119
Property Features for 2536-2538 State Street
General Information
- Standard status
- Active
- Size
- 1,940 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1942
Listing agency
McEnery Residential, LLC
(662) 571-2148
Listed by
Lauren Chiu · License #995712310
(662) 571-2148
Source
Compass
Added: Mar 26 Updated: Jul 21 at 10:32PM Checked: Jul 21 at 10:32PM
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 McEnery Residential, LLC
Investment Insights
Based on property information with market context.
This turnkey duplex is configured as two separate units, each offering two private bedrooms and one full bathroom, along with in-unit laundry. Both units have central HVAC. The property also includes off-street parking with separate driveways for each side, and the left unit features a fenced yard plus storage/garage space.
The duplex is located on a corner lot in an Uptown area, across from Ursuline and surrounded by well-kept single-family homes. It is also about three blocks from Tulane University.
Each side functions as an independent rental layout, with dedicated driveway access and practical outdoor/storage features on the left unit.
The duplex is located on a corner lot in an Uptown area, across from Ursuline and surrounded by well-kept single-family homes. It is also about three blocks from Tulane University.
Each side functions as an independent rental layout, with dedicated driveway access and practical outdoor/storage features on the left unit.
Key Highlights
- Turnkey 2‑unit double with 4 total bedrooms and 2 full bathrooms (2 private bedrooms and 1 full bath per unit)
- Central air and central heat in both units
- In‑unit laundry in each unit
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $38.4k | $19.80 |
| − Vacancy | −$3.3k | −$1.71 |
| EGI | $35.1k | $18.09 |
| − OpEx | −$10.5k | −$5.43 |
| NOI | $24.6k | $12.66 |
1,940 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$350.9K
$307.1K – $409.4K
NOI $24,565 @ 7.0% cap · market cap 4.92%
Second Best
Apartment 5plus
$322.6K
$282.2K – $376.3K
NOI $22,579 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$493.1K
$431.5K – $575.3K
NOI $34,516 @ 7.0% cap · market cap 6.92%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Turnkey double with two private bedrooms, one full bath, and in-unit laundry in each unit.
Where is this duplex located?
The property is located at 2536-2538 State Street New Orleans, LA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Turnkey 2‑unit double with 4 total bedrooms and 2 full bathrooms (2 private bedrooms and 1 full bath per unit); Central air and central heat in both units; In‑unit laundry in each unit
