Historic Duplex with Front
For Sale
$160,000
2617 S Saratoga Street, New Orleans, LA 70113
Fully rented duplex features high ceilings and a spacious front porch with quick access to major thoroughfares.
Days on Market72
Property Features for 2617 S Saratoga Street
General Information
Standard status
Active
Property subtype
Multi Family Home
Building Details
Building Size
1,160 SF
Year Built
1934
Listing Agency:
Nola Living Realty
(504) 239-9300
Listed By:
Tony Ruiz · License #995694137
(504) 239-9300
Source:
Nolalivingrealty
Added: May 21
Changed: Jul 26
Last Checked: Jul 30 at 12:03PM
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 Nola Living Realty
Investment Insights
Based on property information with market context.
This historic duplex offers a straightforward income configuration with two units under one property. The layout includes high ceilings throughout, along with a spacious front porch that adds outdoor living space at the front of the building. The property is currently fully rented and is producing $2,090 in current monthly rental income, with additional upside noted in the offering materials.
Conveniently positioned with quick access to St. Charles Avenue and I-10, the location also references proximity to the Uptown parade route, supporting accessibility for both tenants and visitors.
The property is also part of a larger portfolio of several multifamily properties in the surrounding area that may be sold together, offering an option for investors seeking to expand within the same investment footprint.
Conveniently positioned with quick access to St. Charles Avenue and I-10, the location also references proximity to the Uptown parade route, supporting accessibility for both tenants and visitors.
The property is also part of a larger portfolio of several multifamily properties in the surrounding area that may be sold together, offering an option for investors seeking to expand within the same investment footprint.
Key Highlights
- Historic double (duplex) built in 1934 with high ceilings throughout
- Fully rented duplex with current monthly rental income of $2,090
- Spacious front porch
Financial Insights For Multifamily LT 5
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 | $23.0k | $19.80 |
| − Vacancy | −$2.0k | −$1.71 |
| EGI | $21.0k | $18.09 |
| − OpEx | −$6.3k | −$5.43 |
| NOI | $14.7k | $12.66 |
1,160 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$209.8K
$183.6K – $244.8K
NOI $14,688 @ 7.0% cap · market cap 9.18%
Second Best
Apartment 5plus
$192.9K
$168.8K – $225.0K
NOI $13,501 @ 7.0% cap · market cap 8.44%
Theoretical Best
Office A
$294.8K
$258.0K – $344.0K
NOI $20,638 @ 7.0% cap · market cap 12.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,039
Businesses Nearby
Explore this area
Business Placement
Demographics for 70113, LA
8,569
Population
5,512
Households
1.6
Avg Household Size
37
Median Age
27%
College-Educated
74%
High-School Grad
0.9 sq mi
ZIP Area
9,521
Density / Sq Mi
$36,897
Median Household Income
$31,126
Median Earnings
$960
Median Rent
$258,500
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 - Fully rented duplex features high ceilings and a spacious front porch with quick access to major thoroughfares.
Where is this duplex located?
The property is located at 2617 S Saratoga Street New Orleans, LA.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: Historic double (duplex) built in 1934 with high ceilings throughout; Fully rented duplex with current monthly rental income of $2,090; Spacious front porch
