Duplex with Pergola
For Sale
$185,000
2543-45 Gravier Street, New Orleans, LA 70119
Two residential units feature front porches and private outdoor areas with pergolas.
Property Size1,193 SF
Days on Market441
Property Features for 2543-45 Gravier Street
General Information
Standard status
Active
Size
1,193 SF
Property subtype
Multi Family Home
Additional Details
Multifamily Units
2
Amenities
front porch
private backyard with pergola
Building Details
Building Size
1,193 SF
Year Built
1950
Stories
1
Listing Agency:
Abek Real Estate
(504) 428-8042
Listed By:
Ashley Nash · License #995712660
(504) 428-8042
Source:
Nolalivingrealty
Added: Jun 10, 2025
Changed: Aug 20
Last Checked: Aug 23 at 11:39AM
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 Abek Real Estate
Investment Insights
Based on property information with market context.
Built in 1950, this duplex is configured with two residential units. Each unit includes a generous layout, a front porch, and a private backyard with a pergola. Interior spaces offer room for customization, while the property’s as-is sale provides a clear framework for evaluating renovation plans. Located at 2543-45 Gravier Street in New Orleans, the property offers access to area amenities and transportation routes. The sale is structured as a short sale.
Key Highlights
- Two‑unit duplex built in 1950
- Each unit includes a front porch
- Private backyard with a pergola for each unit
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
$15,106
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
8.17%
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%
$302,120
$302.1K
Cap Rate 7%
$215,800
$215.8K
Cap Rate 9%
$167,844
$167.8K
Market Conditions
NOI Build-Up for 1,193 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
$23.6K $19.80/SF
− Vacancy
−$2.0K −$1.71/SF
EGI
$21.6K $18.09/SF
− OpEx
−$6.5K −$5.43/SF
NOI
$15.1K $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%
$302,120
Cap Rate 7%
$215,800
Cap Rate 9%
$167,844
Alternative Uses
Best Use
Multifamily LT 5
$215.8K
$188.8K – $251.8K
NOI $15,106 @ 7.0% cap · market cap 8.17%
Second Best
Apartment 5plus
$198.4K
$173.6K – $231.4K
NOI $13,885 @ 7.0% cap · market cap 7.51%
Theoretical Best
Office A
$312.2K
$273.2K – $364.2K
NOI $21,852 @ 7.0% cap · market cap 11.81%
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
3,104
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 - Two residential units feature front porches and private outdoor areas with pergolas.
Where is this duplex located?
The property is located at 2543-45 Gravier Street New Orleans, LA.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1950; Each unit includes a front porch; Private backyard with a pergola for each unit
