Two-Unit Duplex with Private
New
For Sale
$485,000
2604-06 Valence St, New Orleans, LA 70115
Each residence includes two bedrooms, two baths, and dedicated in-unit laundry.
Property Size1,750 SF
Price / SF$277.14
Days on Market3
Property Features for 2604-06 Valence St
General Information
Standard status
Active
Size
1,750 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Amenities
private in-unit laundry
shared back deck
small garden
Building Details
Year Built
1940
Buildings
1
Tenancy
Multi
Listing Agency:
Christian Shane Properties
(504) 208-5688
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Sep 14
Changed: Sep 15
Last Checked: Sep 15 at 7:21AM
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 Christian Shane Properties
Investment Insights
Based on property information with market context.
Located at 2604-06 Valence St, this 1940 duplex contains two residences, each with 2 bedrooms and 2 baths. The 1,750-square-foot property includes private laundry in both units, Carrera marble countertops, heart pine flooring, 11-foot ceilings, and custom showers. A small front garden and shared rear deck provide exterior features without extensive common-area improvements.
The property is one block from the Freret Street corridor and within walking distance of hospitals and universities. St. Charles Avenue, the CBD, and local amenities are also nearby. Both units are currently rented, with one residence scheduled to become available in December.
The property is one block from the Freret Street corridor and within walking distance of hospitals and universities. St. Charles Avenue, the CBD, and local amenities are also nearby. Both units are currently rented, with one residence scheduled to become available in December.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 2 baths in each residence
- 1,750 square feet on a 1940‑built property
- Private in‑unit laundry for both residences
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
$15,042
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
3.10%
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%
$300,840
$300.8K
Cap Rate 7%
$214,886
$214.9K
Cap Rate 9%
$167,133
$167.1K
Market Conditions
NOI Build-Up for 1,750 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
$23.5K $13.44/SF
− Vacancy
−$2.0K −$1.16/SF
EGI
$21.5K $12.28/SF
− OpEx
−$6.4K −$3.68/SF
NOI
$15.0K $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 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%
$300,840
Cap Rate 7%
$214,886
Cap Rate 9%
$167,133
Alternative Uses
Best Use
Multifamily LT 5
$214.9K
$188.0K – $250.7K
NOI $15,042 @ 7.0% cap · market cap 3.10%
Second Best
Apartment 5plus
$190.5K
$166.7K – $222.2K
NOI $13,334 @ 7.0% cap · market cap 2.75%
Theoretical Best
Office A
$461.7K
$404.0K – $538.7K
NOI $32,319 @ 7.0% cap · market cap 6.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,568
Businesses Nearby
Explore this area
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
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 - Each residence includes two bedrooms, two baths, and dedicated in-unit laundry.
Where is this duplex located?
The property is located at 2604-06 Valence St New Orleans, LA.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 2 baths in each residence; 1,750 square feet on a 1940‑built property; Private in‑unit laundry for both residences
