Victorian-Style
New
For Sale
$179,000
2556 ORLEANS Avenue, New Orleans, LA 70119
Multi-Family, Victorian, New Orleans, LA
Property Size1,100 SF
Price / SF$162.73
Days on Market3
Property Features for 2556 ORLEANS Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Exterior features
Fence
Fencing
Fenced
Lot features
1-5 Acres
Standard status
Active
Size
1,100 SF
Taxes and HOA fees
Tax Description
1. SQ 358 Lot R Orleans 2. 30 x 54
Legal Description
1. SQ 358 Lot R Orleans 2. 30 x 54
Utilities
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1940
Floors in Building
1
Number of units
2
Roof type
Shingle
Architectural style
Victorian
Listing Agency:
Homesmart Realty South · HomeSmart International
(504) 908-7653
Listed By:
Jean Michel
(504) 390-1954
Added: Oct 21
Last Checked: Oct 23 at 12:06AM
MLS# 2582344
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.
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Investment Insights
Based on property information with market context.
Built in 1940, this 1,100-square-foot Victorian duplex has two sides and wood flooring. Renovation work took place between 2020 and 2021, including a new roof and appliances. Interior details include pocket doors, high ceilings, and a kitchen with white appliances and a pantry. Window-unit cooling, a shingle roof, public water, and fencing are also noted.
The property is on Orleans Avenue, near Bayou St. John and within minutes of City Park and the French Quarter.
The property is on Orleans Avenue, near Bayou St. John and within minutes of City Park and the French Quarter.
Key Highlights
- Two‑sided duplex with 1,100 square feet
- Renovation work completed between 2020 and 2021
- New roof and appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,929
Cap Rate
7.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$278,580
$278.6K
Cap Rate 7%
$198,986
$199.0K
Cap Rate 9%
$154,767
$154.8K
Market Conditions
NOI Build-Up for 1,100 SF
Gross rent
$21.8K $19.80/SF
− Vacancy
−$1.9K −$1.71/SF
EGI
$19.9K $18.09/SF
− OpEx
−$6.0K −$5.43/SF
NOI
$13.9K $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%
$278,580
Cap Rate 7%
$198,986
Cap Rate 9%
$154,767
Alternative Uses
Best Use
Multifamily LT 5
$199.0K
$174.1K – $232.2K
NOI $13,929 @ 7.0% cap · market cap 7.78%
Second Best
Apartment 5plus
$182.9K
$160.0K – $213.4K
NOI $12,803 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$287.8K
$251.9K – $335.8K
NOI $20,148 @ 7.0% cap · market cap 11.26%
Zoning and permitted uses should be independently verified with authorities.
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - The two-sided layout allows an owner to occupy one residence while leasing the other.
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 $179,000.
What are key features of this property?
This property features: Two‑sided duplex with 1,100 square feet; Renovation work completed between 2020 and 2021; New roof and appliances
