Character Duplex with Off-Street
For Sale
$416,000
2616 Burdette St, New Orleans, LA 70125
Two-level layout includes lower-level access, a garage, and original architectural details.
Property Size2,422 SF
Price / SF$171.76
Days on Market43
Property Features for 2616 Burdette St
General Information
Standard status
Active
Size
2,422 SF
Property subtype
Multi-Family
Building Details
Year Built
1920
Listing Agency:
eXp Realty, LLC
(504) 261-9152
Listed By:
Clare Folson · License #995689817
Source:
Fiorellaavenue
Added: Jul 20
Changed: Aug 31
Last Checked: Aug 31 at 6:32PM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1920, this duplex combines original character with practical updates across a 2,422-square-foot layout. The upper level includes a sunroom, double parlor, formal dining room, kitchen with breakfast nook, two bedrooms, an office, and a full bathroom. The lower level provides one bedroom, expansive living, dining, and office areas, a kitchenette, and another full bathroom, with side and rear doors offering separate access. The lower bedroom may remain part of the owner’s unit, while the rental area can be reconfigured as a larger studio.
Recent improvements include double-pane windows, repaired and painted siding, and newer mini-splits downstairs. A garage and off-street parking add functionality. The property is located on Burdette Street in New Orleans’ Fontainebleau neighborhood, with the street recently repaved. It is also situated in an X flood zone, and pre-listing inspection reports are available.
Recent improvements include double-pane windows, repaired and painted siding, and newer mini-splits downstairs. A garage and off-street parking add functionality. The property is located on Burdette Street in New Orleans’ Fontainebleau neighborhood, with the street recently repaved. It is also situated in an X flood zone, and pre-listing inspection reports are available.
Key Highlights
- 2,422‑square‑foot duplex built in 1920
- Upper level includes 2 bedrooms, office, sunroom, double parlor, dining room, kitchen, and full bathroom
- Lower level features 1 bedroom, kitchenette, living, dining, office areas, and full bathroom
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
$30,669
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
7.37%
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%
$613,380
$613.4K
Cap Rate 7%
$438,129
$438.1K
Cap Rate 9%
$340,767
$340.8K
Market Conditions
NOI Build-Up for 2,422 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
$48.0K $19.80/SF
− Vacancy
−$4.1K −$1.71/SF
EGI
$43.8K $18.09/SF
− OpEx
−$13.1K −$5.43/SF
NOI
$30.7K $12.66/SF
Area
New Orleans, LA
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 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%
$613,380
Cap Rate 7%
$438,129
Cap Rate 9%
$340,767
Alternative Uses
Best Use
Multifamily LT 5
$438.1K
$383.4K – $511.2K
NOI $30,669 @ 7.0% cap · market cap 7.37%
Second Best
Apartment 5plus
$402.7K
$352.4K – $469.8K
NOI $28,189 @ 7.0% cap · market cap 6.78%
Theoretical Best
Office A
$615.6K
$538.6K – $718.2K
NOI $43,091 @ 7.0% cap · market cap 10.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
951
Businesses Nearby
Explore this area
Business Placement
Demographics for 70125, LA
17,457
Population
7,972
Households
2.2
Avg Household Size
33
Median Age
46%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
7,590
Density / Sq Mi
$58,956
Median Household Income
$39,623
Median Earnings
$1,292
Median Rent
$428,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-level layout includes lower-level access, a garage, and original architectural details.
Where is this duplex located?
The property is located at 2616 Burdette St New Orleans, LA.
What is the asking price?
The asking price for this property is $416,000.
What are key features of this property?
This property features: 2,422‑square‑foot duplex built in 1920; Upper level includes 2 bedrooms, office, sunroom, double parlor, dining room, kitchen, and full bathroom; Lower level features 1 bedroom, kitchenette, living, dining, office areas, and full bathroom
