Arts and Crafts
For Sale
$249,000
2626-28 ACACIA Street, New Orleans, LA 70122
Multi-Family, Arts and Crafts, New Orleans, LA
Property Size1,800 SF
Lot Size0.08 Acres
Price / SF$138.33
Days on Market10
Property Features for 2626-28 ACACIA Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Subdivision
Edgewood Park
Lot features
1-5 Acres
Standard status
Active
APN
38W304207
Size
1,800 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Description
EDGEWOOD PARK SQ 11 LOT 11 ACACIA 30X120 DBLE 4/RM EA A/R 2626-28 ACACIA ST
Legal Description
EDGEWOOD PARK SQ 11 LOT 11 ACACIA 30X120 DBLE 4/RM EA A/R 2626-28 ACACIA ST
Utilities
Heating system
Natural Gas
Cooling system
Window Unit(s)
Water source
Public
Amenities
in-unit laundry work area
porch
rear yard
Building Details
Year built
1926
Floors in Building
1
Number of units
2
Roof type
Wood, Shingle
Architectural style
Other
Listing Agency:
Keller Williams Realty New Orleans
(504) 862-0100
Listed By:
David Stassi · License #995696696
(504) 957-2532
Added: Sep 18
Last Checked: Sep 27 at 1:06PM
MLS# 2577496
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1926, this 1,800-square-foot duplex includes two residences, each offering 2 bedrooms and 1 bathroom. Both sides are rented and retain period features including hardwood floors, clawfoot tubs, wooden cabinetry, and classic front porches. Each unit also includes a flexible laundry work area, access to a rear porch and yard, and a floored, divided attic. Natural gas heating, window-unit cooling, public water, and a wood shingle roof serve the property.
The property sits on a 0.0826-acre lot at 2626-28 Acacia Street in New Orleans. The source material describes the site as located on the Gentilly Ridge and states that it has never flooded. Records are available for applying for historic tax credits.
The property sits on a 0.0826-acre lot at 2626-28 Acacia Street in New Orleans. The source material describes the site as located on the Gentilly Ridge and states that it has never flooded. Records are available for applying for historic tax credits.
Key Highlights
- Two‑unit duplex built in 1926
- 1,800 square feet with two 2BD/1BA residences
- Both sides are currently rented
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
$18,648
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
7.49%
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%
$372,960
$373.0K
Cap Rate 7%
$266,400
$266.4K
Cap Rate 9%
$207,200
$207.2K
Market Conditions
NOI Build-Up for 1,800 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
$29.2K $16.20/SF
− Vacancy
−$2.5K −$1.40/SF
EGI
$26.6K $14.80/SF
− OpEx
−$8.0K −$4.44/SF
NOI
$18.6K $10.36/SF
Area
ZIP 70122
Vacancy
8.64%
Lease Rate
$16.20 /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%
$372,960
Cap Rate 7%
$266,400
Cap Rate 9%
$207,200
Alternative Uses
Best Use
Multifamily LT 5
$266.4K
$233.1K – $310.8K
NOI $18,648 @ 7.0% cap · market cap 7.49%
Second Best
Apartment 5plus
$231.4K
$202.5K – $270.0K
NOI $16,198 @ 7.0% cap · market cap 6.51%
Theoretical Best
Office A
$471.0K
$412.1K – $549.5K
NOI $32,970 @ 7.0% cap · market cap 13.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
454
Businesses Nearby
Explore this area
Business Placement
Demographics for 70122, LA
34,986
Population
17,131
Households
2
Avg Household Size
39
Median Age
37%
College-Educated
89%
High-School Grad
6.3 sq mi
ZIP Area
5,553
Density / Sq Mi
$47,613
Median Household Income
$38,248
Median Earnings
$1,196
Median Rent
$274,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Well-maintained, income-producing duplex with two rented residences and original architectural details.
Where is this duplex located?
The property is located at 2626-28 ACACIA Street New Orleans, LA.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1926; 1,800 square feet with two 2BD/1BA residences; Both sides are currently rented
