Two-Unit Duplex with
For Sale
$529,000
2556 ORLEANS Avenue, New Orleans, LA 70119
Two distinct residences offer flexible living arrangements, each with its own central HVAC system.
Property Size2,900 SF
Days on Market75
Property Features for 2556 ORLEANS Avenue
General Information
Standard status
Active
Size
2,900 SF
Property subtype
Duplex
Units
Unit Mix
1 x 3BR/2.5BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Road Access
Yes
Amenities
Balcony
Building Details
Building Size
2,900 SF
Year Built
2023
Buildings
1
Stories
3
Listing Agency:
Lagniappe Realty Team, LLC
Listed By:
Sadat M Spencer
(504) 894-4792
Source:
Ewbank.kw
Added: Aug 7
Changed: Oct 16
Last Checked: Oct 19 at 3:41AM
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 Lagniappe Realty Team, LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 2023, this two-unit duplex pairs a three-bedroom, 2.5-bath owner’s residence with a two-bedroom, one-bath tenant unit. The approximately 2,000-square-foot owner’s unit includes two master suites and two living areas. Both residences feature modern kitchens, and the tenant unit has an island. Balconies and separate central HVAC systems on each floor round out the configuration. Construction includes 2x6 exterior walls and a concrete pier foundation.
The property is on Orleans Avenue in Mid City, within walking distance of Lafitte Greenway, Bayou St. John, Whole Foods, and the Medical District. It is also near Mid City Mardi Gras parade routes.
The property is on Orleans Avenue in Mid City, within walking distance of Lafitte Greenway, Bayou St. John, Whole Foods, and the Medical District. It is also near Mid City Mardi Gras parade routes.
Key Highlights
- Two‑unit duplex built in 2023
- Owner’s unit has 3 bedrooms, 2.5 baths, two master suites, and two living areas
- Tenant unit includes 2 bedrooms, 1 bath, and a kitchen island
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,721
Cap Rate
6.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$734,420
$734.4K
Cap Rate 7%
$524,586
$524.6K
Cap Rate 9%
$408,011
$408.0K
Market Conditions
NOI Build-Up for 2,900 SF
Gross rent
$57.4K $19.80/SF
− Vacancy
−$5.0K −$1.71/SF
EGI
$52.5K $18.09/SF
− OpEx
−$15.7K −$5.43/SF
NOI
$36.7K $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%
$734,420
Cap Rate 7%
$524,586
Cap Rate 9%
$408,011
Alternative Uses
Best Use
Multifamily LT 5
$524.6K
$459.0K – $612.0K
NOI $36,721 @ 7.0% cap · market cap 6.94%
Second Best
Apartment 5plus
$482.2K
$421.9K – $562.6K
NOI $33,753 @ 7.0% cap · market cap 6.38%
Theoretical Best
Office A
$758.8K
$664.0K – $885.3K
NOI $53,119 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,148
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two distinct residences offer flexible living arrangements, each with its own central HVAC system.
Where is this duplex located?
The property is located at 2556 ORLEANS Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: Two‑unit duplex built in 2023; Owner’s unit has 3 bedrooms, 2.5 baths, two master suites, and two living areas; Tenant unit includes 2 bedrooms, 1 bath, and a kitchen island
