Renovated Two-Unit
For Sale
$315,000
2644 GLADIOLUS Street, New Orleans, LA 70122
Multifamily, New Orleans, LA
Property Size1,656 SF
Lot Size0.11 Acres
Price / SF$190.22
Days on Market177
Property Features for 2644 GLADIOLUS Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 4, Bathroom 3, Bedroom 2
Parking
3
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
Legal Description
EDGEWOOD PK SQ 25 LOT Z GLADIOLUS 40X120 DBLE 13/RM A/R
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1940
Number of units
2
Building materials
HardiPlank Type, Wood Siding
Listing Agency:
KELLER WILLIAMS REALTY 4550100
(504) 455-0100
Listed By:
John C McCann · License #995704833
(504) 289-4810
Added: May 1
Changed: Oct 23
Last Checked: Oct 24 at 6:06AM
MLS# 2554642
Copyright © 2026 ROAM MLS. 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 New Orleans duplex contains 1,656 square feet across two residences. The main unit has three bedrooms and two bathrooms; a separate unit has one bedroom and one bathroom. Updates include a new roof, plumbing and electrical work, appliances, and interior finishes. Central heating and air conditioning serve the property.
Built in 1940, the property occupies a 0.1102-acre lot. Off-street parking and a driveway are available, with public water and sewer service and natural gas available.
Built in 1940, the property occupies a 0.1102-acre lot. Off-street parking and a driveway are available, with public water and sewer service and natural gas available.
Key Highlights
- Two‑unit configuration: 3‑bedroom, 2‑bath main residence and separate 1‑bedroom, 1‑bath unit
- 1,656 square feet on a 0.1102‑acre lot
- New roof, updated plumbing and electrical, 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 - Separate 3-bedroom and 1-bedroom residences offer flexibility for household use or rental occupancy.
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 configuration: 3‑bedroom, 2‑bath main residence and separate 1‑bedroom, 1‑bath unit; 1,656 square feet on a 0.1102‑acre lot; New roof, updated plumbing and electrical, and new appliances
