Duplex with Attic
For Sale
$265,000
2622-24 South Derbigny Street, New Orleans, LA 70125
Both units feature front kitchens and living areas, rear bedrooms, and indoor washer and dryer connections.
Property Size1,508 SF
Price / SF$175.73
Days on Market257
Property Features for 2622-24 South Derbigny Street
General Information
Standard status
Active
Size
1,508 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
indoor washer and dryer connections
back porch and yard
Central Air
Central
1
2
4
inside
Asbestos Shingle
Other
Pillar/Post/Pier
Wood Siding
Porch
Building Details
Year Built
1940
Buildings
1
Listing Agency:
Russell Frank Realty Group, L.L.C.
Listed By:
Josline Frank · License #000040643
(504) 914-9036
Source:
Compass
Added: Dec 20, 2025
Changed: Sep 2
Last Checked: Sep 2 at 11:41PM
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 Russell Frank Realty Group, L.L.C.
Investment Insights
Based on property information with market context.
Built in 1940, this 1,508-square-foot duplex contains two residences, each arranged with two bedrooms and one bathroom. Kitchens and living rooms occupy the front of each unit, while the bedrooms are positioned toward the rear. Indoor washer and dryer connections serve both sides. A spacious upstairs attic provides an opportunity to create additional living area, subject to applicable requirements. The property also includes a rear porch and yard.
The duplex is across from Taylor Center Park and near Starbucks, local small businesses, Downtown New Orleans, the Caesars Superdome, and Smoothie King Center. Magnolia Marketplace, with retailers including TJ Maxx, Ross Dress for Less, Michaels, PetSmart, Ulta, Shoe Carnival, and Five Below, is a short drive away. Additional duplexes at 2626-28 and 2622-24 South Derbigny Street are also available from the same owner.
The duplex is across from Taylor Center Park and near Starbucks, local small businesses, Downtown New Orleans, the Caesars Superdome, and Smoothie King Center. Magnolia Marketplace, with retailers including TJ Maxx, Ross Dress for Less, Michaels, PetSmart, Ulta, Shoe Carnival, and Five Below, is a short drive away. Additional duplexes at 2626-28 and 2622-24 South Derbigny Street are also available from the same owner.
Key Highlights
- Two‑unit duplex with 1,508 square feet
- Each side includes 2 bedrooms and 1 bathroom
- Spacious upstairs attic offers potential for added living space
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
$19,095
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
7.21%
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%
$381,900
$381.9K
Cap Rate 7%
$272,786
$272.8K
Cap Rate 9%
$212,167
$212.2K
Market Conditions
NOI Build-Up for 1,508 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
$29.9K $19.80/SF
− Vacancy
−$2.6K −$1.71/SF
EGI
$27.3K $18.09/SF
− OpEx
−$8.2K −$5.43/SF
NOI
$19.1K $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%
$381,900
Cap Rate 7%
$272,786
Cap Rate 9%
$212,167
Alternative Uses
Best Use
Multifamily LT 5
$272.8K
$238.7K – $318.3K
NOI $19,095 @ 7.0% cap · market cap 7.21%
Second Best
Apartment 5plus
$250.7K
$219.4K – $292.5K
NOI $17,551 @ 7.0% cap · market cap 6.62%
Theoretical Best
Office A
$383.3K
$335.4K – $447.2K
NOI $26,830 @ 7.0% cap · market cap 10.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,658
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
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Frequently Asked Questions
What type of property is this?
Duplex - Both units feature front kitchens and living areas, rear bedrooms, and indoor washer and dryer connections.
Where is this duplex located?
The property is located at 2622-24 South Derbigny Street New Orleans, LA.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,508 square feet; Each side includes 2 bedrooms and 1 bathroom; Spacious upstairs attic offers potential for added living space
