Renovated Income-Generating New Orleans
2644 GLADIOLUS Street New Orleans, LA 70122
2644 GLADIOLUS Street, New Orleans, LA, 70122
$325,000
For Sale
$325,000
MULTI_FAMILY - New Orleans, LA
Property Size1,656 SF
Lot Size0.11 Acres
Price / SF$196.26
Days on Market81
Property Features for 2644 GLADIOLUS Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- Driveway, Off Street
- 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
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
3500 N Causeway Blvd Suite 350, Metairie, LA
Listed by
John McCann · License #995704833
(504) 669-8822
Added: May 1 Checked: Jul 20 at 7:06 am
MLS# 2554642
Listing URL
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.
This renovated double presents an opportunity to combine living with income potential. The property features style and functionality. The main residence offers a 3-bedroom, 2-bathroom layout with an open feel. Clean lines, quality finishes, and well-designed spaces create an atmosphere that feels refined and inviting. The second unit offers a private 1-bedroom, 1-bathroom setup suitable for generating rental income, accommodating guests, or creating a flexible living arrangement. Upgrades have been completed, including a new roof, updated plumbing and electrical systems, new appliances, and finishes throughout. The property offers peace of mind and a move-in-ready experience. Located in New Orleans, LA 70122, the property sits on a lot of 0.1102 acres and has a property size of 1656 square feet. This property delivers versatility, value, and long-term potential. It can be found at 2644 GLADIOLUS Street, New Orleans, LA 70122.
Key Highlights
- Renovated double with built‑in income potential, featuring a main 3‑bedroom, 2‑bath home plus a separate 1‑bedroom, 1‑bath second unit
- Major system upgrades completed: new roof, updated plumbing and electrical, and new appliances
- Central heating and central air
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $26.8k | $16.20 |
| − Vacancy | −$2.3k | −$1.40 |
| EGI | $24.5k | $14.80 |
| − OpEx | −$7.4k | −$4.44 |
| NOI | $17.2k | $10.36 |
1,656 SF · lease $16.20/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$245.1K
$214.5K – $286.0K
NOI $17,157 @ 7.0% cap · market cap 5.28%
Second Best
Apartment 5plus
$212.9K
$186.3K – $248.4K
NOI $14,903 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$433.3K
$379.2K – $505.6K
NOI $30,333 @ 7.0% cap · market cap 9.33%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Renovated duplex with income potential in New Orleans.
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 $325,000.
What are key features of this property?
This property features: Renovated double with built‑in income potential, featuring a main 3‑bedroom, 2‑bath home plus a separate 1‑bedroom, 1‑bath second unit; Major system upgrades completed: new roof, updated plumbing and electrical, and new appliances; Central heating and central air
