Renovated
For Sale
$315,000
2644 GLADIOLUS Street, New Orleans, LA 70122
Multi-Family, New Orleans, LA
Property Size1,656 SF
Lot Size0.11 Acres
Price / SF$190.22
Days on Market172
Property Features for 2644 GLADIOLUS Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Off Street, Driveway
Lot features
Regular
Standard status
Active
APN
38W305614
Size
1,656 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
EDGEWOOD PK SQ 25 LOT Z GLADIOLUS 40X120 DBLE 13/RM A/R
Legal Description
EDGEWOOD PK SQ 25 LOT Z GLADIOLUS 40X120 DBLE 13/RM A/R
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1940
Floors in Building
1
Number of units
2
Roof type
Shingle
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
(504) 455-0100
Listed By:
John McCann
(504) 289-4810
Added: May 1
Changed: Oct 15
Last Checked: Oct 19 at 8:06PM
MLS# 2554642
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.
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Investment Insights
Based on property information with market context.
This renovated duplex contains two separate residences: a 3-bedroom, 2-bathroom primary unit and a 1-bedroom, 1-bathroom secondary unit. The 1,656-square-foot property includes updated plumbing and electrical systems, a new roof, new appliances, and refreshed interior finishes. Central heating and central air conditioning serve the building, while a shingle roof covers the structure.
Built in 1940, the property occupies a 0.1102-acre lot at 2644 Gladiolus Street in New Orleans. Parking is provided by a driveway and off-street spaces, and the building is connected to public water. The two-unit configuration supports an owner-occupied arrangement with a separate residence or a fully income-producing residential setup.
Built in 1940, the property occupies a 0.1102-acre lot at 2644 Gladiolus Street in New Orleans. Parking is provided by a driveway and off-street spaces, and the building is connected to public water. The two-unit configuration supports an owner-occupied arrangement with a separate residence or a fully income-producing residential setup.
Key Highlights
- Two‑unit duplex with a 3‑bedroom, 2‑bathroom primary residence and 1‑bedroom, 1‑bathroom second unit
- 1,656 square feet on a 0.1102‑acre lot
- Renovated with new roof, updated plumbing and electrical systems, and new appliances
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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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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units with updated systems, central air, and driveway and off-street parking.
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‑unit duplex with a 3‑bedroom, 2‑bathroom primary residence and 1‑bedroom, 1‑bathroom second unit; 1,656 square feet on a 0.1102‑acre lot; Renovated with new roof, updated plumbing and electrical systems, and new appliances
