Duplex with Private
New
For Sale
$485,000
2604-06 VALENCE Street, New Orleans, LA 70115
Multi-Family, Shot Gun, New Orleans, LA
Property Size1,750 SF
Price / SF$277.14
Days on Market3
Property Features for 2604-06 VALENCE Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Off Street
Patio and Porch features
Porch
Exterior features
Porch
Subdivision
Not a Subdivision
Lot features
Regular
Standard status
Active
APN
614332509
Size
1,750 SF
Taxes and HOA fees
Tax Description
sq 619 Lot e 30x83/79 2604-06 valence street
Legal Description
sq 619 Lot e 30x83/79 2604-06 valence street
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
in-unit laundry
carrera marble counter tops
heart pine floors
11 foot ceilings
custom showers
garden
shared back deck
Building Details
Year built
1940
Floors in Building
1
Number of units
2
Roof type
Asphalt
Architectural style
Other
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
(504) 455-0100
Listed By:
Elizabeth Bordelon
(504) 232-0342
Added: Sep 12
Last Checked: Sep 14 at 10:06AM
MLS# 2576794
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.
This 1,750-square-foot duplex contains two residential units, each arranged with 2 bedrooms and 2 bathrooms. Both sides include private in-unit laundry, central heating and air conditioning, heart pine floors, 11-foot ceilings, Carrera marble countertops, and custom showers. A front garden, shared rear deck, porch, asphalt roof, public water, and off-street parking are also included. The property was built in 1940.
Located one block from Freret Street, the duplex is within walking distance of hospitals and universities and offers access to the nearby CBD and St. Charles Avenue. Both units are currently leased, with one expected to become available in December. The property is also close to the Freret Street corridor and local amenities.
Located one block from Freret Street, the duplex is within walking distance of hospitals and universities and offers access to the nearby CBD and St. Charles Avenue. Both units are currently leased, with one expected to become available in December. The property is also close to the Freret Street corridor and local amenities.
Key Highlights
- Two‑unit duplex totaling 1,750 square feet
- Each unit offers 2 bedrooms and 2 bathrooms
- Private in‑unit laundry in 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
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Open Analytics
Current Use
Lease Details
2
Residential units
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
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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 leased units offer private laundry, refined interior finishes, and shared outdoor space near the Freret Street corridor.
Where is this duplex located?
The property is located at 2604-06 VALENCE Street 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 totaling 1,750 square feet; Each unit offers 2 bedrooms and 2 bathrooms; Private in‑unit laundry in both residences
