Renovated Short-Term Rental
2614 BANKS Street New Orleans, LA 70119
2614 BANKS Street, New Orleans, LA, 70119
$475,000
For Sale
$475,000
Renovated 5-bedroom, 2.5-bath home with transferable CSTR permit and active short-term rental operation.
Property Size1,746 SF
Price / SF$272.05
Days on Market113
Property Features for 2614 BANKS Street
General Information
- Standard status
- Active
- Size
- 1,746 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1936
Listing agency
Collab Realty, LLC
(504) 251-3498
Listed by
Baxter Stewart · License #0000075256
(504) 251-3498
Source
Xome
Added: Apr 1 Updated: Jul 22 at 11:48AM Checked: Jul 22 at 11:48AM
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 Collab Realty, LLC
Investment Insights
Based on property information with market context.
This renovated 5-bedroom, 2.5-bath short-term rental home is currently operating as a Commercial Short-Term Rental (CSTR). It has an active, transferable CSTR permit and was renovated three years ago. The property features new Hardie siding, recent foundation and pier work, and durable, low-maintenance vinyl plank flooring. Outside, the backyard includes a hot tub and a fire pit.
The home is situated on Banks Street in Mid-City New Orleans, described as an oak-lined stretch, with nearby access to the BioDistrict New Orleans and Downtown and the French Quarter. Public remarks also note it is one block from a new Trader Joe’s.
The property is commercially zoned MU-1 and is reported to generate approximately $85,000 annually through its current CSTR operation.
The home is situated on Banks Street in Mid-City New Orleans, described as an oak-lined stretch, with nearby access to the BioDistrict New Orleans and Downtown and the French Quarter. Public remarks also note it is one block from a new Trader Joe’s.
The property is commercially zoned MU-1 and is reported to generate approximately $85,000 annually through its current CSTR operation.
Key Highlights
- Renovated 5‑bedroom, 2.5‑bath home operating as a Commercial Short‑Term Rental (CSTR)
- Approximately $85,000 in annual CSTR revenue, with an active, transferable CSTR permit
- Commercially zoned MU‑1 with driveway and off‑street parking
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $40.6k | $23.28 |
| − Vacancy | −$3.7k | −$2.12 |
| EGI | $36.9k | $21.16 |
| − OpEx | −$16.6k | −$9.52 |
| NOI | $20.3k | $11.64 |
1,746 SF · lease $23.28/SF/yr · vacancy 9.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$290.3K
$254.0K – $338.7K
NOI $20,321 @ 7.0% cap · market cap 4.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$456.9K
$399.8K – $533.0K
NOI $31,981 @ 7.0% cap · market cap 6.73%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Short term rental ...
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FAQs
What type of property is this?
Short term rental property - Renovated 5-bedroom, 2.5-bath home with transferable CSTR permit and active short-term rental operation.
Where is this short term rental property located?
The property is located at 2614 BANKS Street New Orleans, LA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Renovated 5‑bedroom, 2.5‑bath home operating as a Commercial Short‑Term Rental (CSTR); Approximately $85,000 in annual CSTR revenue, with an active, transferable CSTR permit; Commercially zoned MU‑1 with driveway and off‑street parking
