Classic Duplex with Original
For Sale
$249,000
2544 ST PHILIP, New Orleans, LA 70119
Multi-Family, Shot Gun, New Orleans, LA
Property Size1,633 SF
Price / SF$152.48
Days on Market154
Property Features for 2544 ST PHILIP
General Information
Property type
Residential Multi Family
Property subtype
Other
Lot features
Regular
Subdivision
7th Ward
Standard status
Active
APN
2544
Size
1,633 SF
Taxes and HOA fees
Tax Description
SQ 322 LOT 98
Legal Description
SQ 322 LOT 98
Utilities
Heating system
Central
Cooling system
Window Unit(s), Central Air
Water source
Public
Building Details
Year built
1912
Floors in Building
1
Number of units
2
Roof type
Asbestos Shingle
Architectural style
Other
Listing Agency:
Crane Realtors
(504) 210-2014
Listed By:
Aaron Dare · License #995681183
(504) 899-8666
Added: May 8
Changed: Sep 16
Last Checked: Oct 8 at 9:06AM
MLS# 2557151
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1912, this 1,633-square-foot duplex contains two residential units with spacious living areas and generously sized bedrooms. Both units retain wood flooring, tall ceilings, original fireplaces, transom windows, and strong natural light. The layout provides separate living spaces within a classic double configuration and includes details associated with traditional New Orleans residential architecture.
The property is located in New Orleans, with restaurants, bars, music venues, and everyday conveniences nearby. Public water serves the property. Heating is provided by a central system, while cooling includes both central air and window units. The roof is finished with asbestos shingles.
The property is located in New Orleans, with restaurants, bars, music venues, and everyday conveniences nearby. Public water serves the property. Heating is provided by a central system, while cooling includes both central air and window units. The roof is finished with asbestos shingles.
Key Highlights
- Two‑unit duplex totaling 1,633 square feet
- Built in 1912 with original fireplaces and transom windows
- Both units feature wood floors and tall ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,678
Cap Rate
8.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$413,560
$413.6K
Cap Rate 7%
$295,400
$295.4K
Cap Rate 9%
$229,756
$229.8K
Market Conditions
NOI Build-Up for 1,633 SF
Gross rent
$32.3K $19.80/SF
− Vacancy
−$2.8K −$1.71/SF
EGI
$29.5K $18.09/SF
− OpEx
−$8.9K −$5.43/SF
NOI
$20.7K $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 Rate 5%
$413,560
Cap Rate 7%
$295,400
Cap Rate 9%
$229,756
Alternative Uses
Best Use
Multifamily LT 5
$295.4K
$258.5K – $344.6K
NOI $20,678 @ 7.0% cap · market cap 8.30%
Second Best
Apartment 5plus
$271.5K
$237.6K – $316.8K
NOI $19,006 @ 7.0% cap · market cap 7.63%
Theoretical Best
Office A
$427.3K
$373.9K – $498.5K
NOI $29,911 @ 7.0% cap · market cap 12.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,710
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with wood floors, tall ceilings, fireplaces, transom windows, and a mix of central and window-unit cooling.
Where is this duplex located?
The property is located at 2544 ST PHILIP New Orleans, LA.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,633 square feet; Built in 1912 with original fireplaces and transom windows; Both units feature wood floors and tall ceilings
