Renovated Two-Unit
For Sale
$315,000
2644 GLADIOLUS Street, New Orleans, LA 70122
The property pairs a three-bedroom main residence with a separate one-bedroom unit.
Property Size1,656 SF
Price / SF$190.22
Days on Market183
Property Features for 2644 GLADIOLUS Street
General Information
Standard status
Active
Size
1,656 SF
Property subtype
Duplex
Site & Location
Neighborhood
Gentilly Terrace
Units
Unit Mix
1 x 3BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Building Details
Building Size
1,656 SF
Year Built
1940
Buildings
1
Listing Agency:
Charbonnet and Co. Realtors
Listed By:
Courtney Charbonnet
(504) 261-6307
Source:
Charbonnetcorealtors
Added: May 1
Changed: Oct 26
Last Checked: Oct 26 at 4:04PM
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 Charbonnet and Co. Realtors
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Investment Insights
Based on property information with market context.
At 2644 Gladiolus Street in New Orleans, this 1,656-square-foot duplex contains two distinct residences: a three-bedroom, two-bathroom primary unit and a one-bedroom, one-bathroom second unit. The building dates to 1940 and has been renovated, with updated plumbing and electrical, a new roof, new appliances, and refreshed finishes noted throughout.
The separate unit provides a second residential space within the property, alongside the larger main residence.
The separate unit provides a second residential space within the property, alongside the larger main residence.
Key Highlights
- Two units: a 3‑bedroom, 2‑bathroom main residence and a 1‑bedroom, 1‑bathroom second unit
- 1,656 square feet
- Built in 1940
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,157
Cap Rate
5.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$343,140
$343.1K
Cap Rate 7%
$245,100
$245.1K
Cap Rate 9%
$190,633
$190.6K
Market Conditions
NOI Build-Up for 1,656 SF
Gross rent
$26.8K $16.20/SF
− Vacancy
−$2.3K −$1.40/SF
EGI
$24.5K $14.80/SF
− OpEx
−$7.4K −$4.44/SF
NOI
$17.2K $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 Rate 5%
$343,140
Cap Rate 7%
$245,100
Cap Rate 9%
$190,633
Alternative Uses
Best Use
Multifamily LT 5
$245.1K
$214.5K – $286.0K
NOI $17,157 @ 7.0% cap · market cap 5.45%
Second Best
Apartment 5plus
$212.9K
$186.3K – $248.4K
NOI $14,903 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$433.3K
$379.2K – $505.6K
NOI $30,333 @ 7.0% cap · market cap 9.63%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
449
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - The property pairs a three-bedroom main residence with a separate one-bedroom unit.
Where is this duplex located?
The property is located at 2644 GLADIOLUS Street New Orleans, LA.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Two units: a 3‑bedroom, 2‑bathroom main residence and a 1‑bedroom, 1‑bathroom second unit; 1,656 square feet; Built in 1940
