Renovated Duplex with Private
New
For Sale
$325,000
2621 23 General Taylor St, New Orleans, LA 70115
Two occupied units feature updated interiors, separate entrances, and individually fenced side yards.
Property Size1,987 SF
Price / SF$163.56
Days on Market7
Property Features for 2621 23 General Taylor St
General Information
Standard status
Active
Size
1,987 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Amenities
shared covered front porch
private driveways
individually fenced side yards
Building Details
Year Built
1987
Year Renovated
2016
Buildings
1
Tenancy
Multi
Listing Agency:
Bennette Dukes Realty LLC
(504) 321-1014
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Sep 21
Changed: Sep 26
Last Checked: Sep 26 at 7:19AM
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 Bennette Dukes Realty LLC
Investment Insights
Based on property information with market context.
This duplex was renovated in 2016 and includes two residential units with high ceilings, pine hardwood flooring, recessed lighting, and open living and dining areas. Each unit has an updated kitchen with white shaker cabinetry, stainless-steel appliances, pendant lighting, and decorative tile flooring. Bathrooms include marble-look tile surrounds with either a tiled walk-in shower or a tub-and-shower combination.
Exterior features include a shared covered front porch, separate entrances, two private driveways, and individually fenced side yards. The property is separately metered and received a new roof in 2021. Both units are occupied by tenants, and the layout also supports an owner-occupied arrangement with one unit retained as a residence and the other rented.
Exterior features include a shared covered front porch, separate entrances, two private driveways, and individually fenced side yards. The property is separately metered and received a new roof in 2021. Both units are occupied by tenants, and the layout also supports an owner-occupied arrangement with one unit retained as a residence and the other rented.
Key Highlights
- Two‑unit duplex renovated in 2016
- Both units are occupied by tenants
- New roof installed in 2021
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
$17,079
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
5.26%
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%
$341,580
$341.6K
Cap Rate 7%
$243,986
$244.0K
Cap Rate 9%
$189,767
$189.8K
Market Conditions
NOI Build-Up for 1,987 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
$26.7K $13.44/SF
− Vacancy
−$2.3K −$1.16/SF
EGI
$24.4K $12.28/SF
− OpEx
−$7.3K −$3.68/SF
NOI
$17.1K $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%
$341,580
Cap Rate 7%
$243,986
Cap Rate 9%
$189,767
Alternative Uses
Best Use
Multifamily LT 5
$244.0K
$213.5K – $284.7K
NOI $17,079 @ 7.0% cap · market cap 5.26%
Second Best
Apartment 5plus
$216.3K
$189.2K – $252.3K
NOI $15,139 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$524.2K
$458.7K – $611.6K
NOI $36,696 @ 7.0% cap · market cap 11.29%
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
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,803
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 occupied units feature updated interiors, separate entrances, and individually fenced side yards.
Where is this duplex located?
The property is located at 2621 23 General Taylor St New Orleans, LA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two‑unit duplex renovated in 2016; Both units are occupied by tenants; New roof installed in 2021
