Two-Structure Duplex
For Sale
$539,000
2701 ST THOMAS, New Orleans, LA 70130
Multifamily, New Orleans, LA
Property Size1,749 SF
Price / SF$308.18
Days on Market38
Property Features for 2701 ST THOMAS
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 4, Bedroom 2, Bedroom 1, Bathroom 3
Lot features
Corner Lot
Directions
TWO BLOCKS LAKE SIDE OFF TCHOUPITOULAS LOCATED ON THE UPTOWN LAKES SIDE OF ST THOMAS ST AND FOURTH ST
Standard status
Active
APN
2701StThomasSt
Size
1,749 SF
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Description
LOT X SQ 59
Legal Description
LOT X SQ 59
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1956
Number of units
2
Building materials
Frame, HardiPlank Type
Architectural style
Cottage
Buildings
2
Listing Agency:
Keller Williams Realty NO
(504) 862-0100
Listed By:
Chris M Smith · License #000009641
(504) 231-2004
Added: Sep 17
Changed: Oct 23
Last Checked: Oct 23 at 11:06PM
MLS# 2577592
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 duplex property comprises two residences in separate structures, with 1,749 square feet of living area. The main residence has 2 bedrooms and 2 bathrooms; the cottage has 2 bedrooms and 1 bathroom. Built in 1956, the homes have frame and HardiPlank Type construction, central heating and central air conditioning. Natural gas is available, and the property has public water and sewer service.
The cottage is currently occupied by a long-term tenant. Magazine Street is four blocks away, and nearby destinations include Parasol’s, Coquette, The Channel, Molly’s Rise and Shine, District Donuts, Breaux Mart and The Fresh Market.
The cottage is currently occupied by a long-term tenant. Magazine Street is four blocks away, and nearby destinations include Parasol’s, Coquette, The Channel, Molly’s Rise and Shine, District Donuts, Breaux Mart and The Fresh Market.
Key Highlights
- Two separate structures contain two residences
- Main residence: 2 bedrooms and 2 full bathrooms
- Cottage: 2 bedrooms and 1 full bathroom; currently tenant‑occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,147
Cap Rate
4.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$442,940
$442.9K
Cap Rate 7%
$316,386
$316.4K
Cap Rate 9%
$246,078
$246.1K
Market Conditions
NOI Build-Up for 1,749 SF
Gross rent
$34.6K $19.80/SF
− Vacancy
−$3.0K −$1.71/SF
EGI
$31.6K $18.09/SF
− OpEx
−$9.5K −$5.43/SF
NOI
$22.1K $12.66/SF
Area
New Orleans, LA
Vacancy
8.64%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$442,940
Cap Rate 7%
$316,386
Cap Rate 9%
$246,078
Alternative Uses
Best Use
Multifamily LT 5
$316.4K
$276.8K – $369.1K
NOI $22,147 @ 7.0% cap · market cap 4.11%
Second Best
Apartment 5plus
$290.8K
$254.5K – $339.3K
NOI $20,356 @ 7.0% cap · market cap 3.78%
Theoretical Best
Office A
$444.5K
$389.0K – $518.6K
NOI $31,118 @ 7.0% cap · market cap 5.77%
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
1,331
Businesses Nearby
Explore this area
Business Placement
Demographics for 70130, LA
14,521
Population
10,927
Households
1.3
Avg Household Size
38
Median Age
64%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
6,915
Density / Sq Mi
$82,758
Median Household Income
$52,492
Median Earnings
$1,410
Median Rent
$529,300
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 contains two separately arranged residences, including a main home and a cottage.
Where is this duplex located?
The property is located at 2701 ST THOMAS New Orleans, LA.
What is the asking price?
The asking price for this property is $539,000.
What are key features of this property?
This property features: Two separate structures contain two residences; Main residence: 2 bedrooms and 2 full bathrooms; Cottage: 2 bedrooms and 1 full bathroom; currently tenant‑occupied
