Side-by-Side
2601-03 Milan Street, New Orleans, LA 70115
For Sale
New
$349,000
Multifamily, New Orleans, LA
Property Size2,172 SF
Lot Size0.08 Acres
Price / SF$160.68
Days on Market1
Property Features for 2601-03 Milan Street
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Parking features
Window features
Patio and Porch features
Interior features
Exterior features
Appliances
Lot features
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
gated off-street parking
interior laundry center
central heating & air conditioning
Building Details
Year built
Number of units
Flooring type
Building materials
Roof type
Architectural style
Buildings
Listing Agency:
Keller Williams Realty New Orleans
(504) 862-0100
Listed By:
Chris M Smith · License LA #000009641
(504) 231-2004
Added: Nov 9
Last Checked: Nov 9 at 8:06PM
MLS# 200QNB
Copyright © 2026 ROAM MLS. 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.
This 2,172-square-foot duplex on a 0.08-acre corner lot is arranged as two side-by-side residences. Each unit has two bedrooms, one full bathroom, an eat-in kitchen, interior laundry, and central heating and air conditioning. Refinished hardwood flooring adds a period detail, and the roof was replaced approximately five years ago. The property also has gated off-street parking at the rear.
The address is one block from Freret Street and two blocks from Napoleon Avenue. The two-unit layout supports separate occupancy, with each residence offering its own kitchen, bedrooms, and laundry facilities.
The address is one block from Freret Street and two blocks from Napoleon Avenue. The two-unit layout supports separate occupancy, with each residence offering its own kitchen, bedrooms, and laundry facilities.
Key Highlights
- Two side‑by‑side residences, each with 2 bedrooms and 1 full bathroom
- 2,172 square feet on a 0.08‑acre corner lot
- Gated off‑street parking at the rear
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,669
Cap Rate
5.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$373,380
$373.4K
Cap Rate 7%
$266,700
$266.7K
Cap Rate 9%
$207,433
$207.4K
Market Conditions
NOI Build-Up for 2,172 SF
Gross rent
$29.2K $13.44/SF
− Vacancy
−$2.5K −$1.16/SF
EGI
$26.7K $12.28/SF
− OpEx
−$8.0K −$3.68/SF
NOI
$18.7K $8.60/SF
Area
ZIP 70115
Vacancy
8.64%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$373,380
Cap Rate 7%
$266,700
Cap Rate 9%
$207,433
Alternative Uses
Best Use
Multifamily LT 5
$266.7K
$233.4K – $311.2K
NOI $18,669 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$236.4K
$206.9K – $275.8K
NOI $16,549 @ 7.0% cap · market cap 4.74%
Theoretical Best
Office A
$573.0K
$501.4K – $668.5K
NOI $40,112 @ 7.0% cap · market cap 11.49%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,803
Businesses Nearby
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Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in New Orleans, LA
Properties on Market for Duplexes in New Orleans
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have private laundry, central heating and air conditioning, and separate eat-in kitchens.
Where is this duplex located?
The property is located at 2601-03 Milan Street New Orleans, LA.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Two side‑by‑side residences, each with 2 bedrooms and 1 full bathroom; 2,172 square feet on a 0.08‑acre corner lot; Gated off‑street parking at the rear
