Historic Duplex with Adjacent
For Sale
$299,000
2715 ACACIA Street, New Orleans, LA 70122
MULTI_FAMILY - New Orleans, LA
Property Size1,925 SF
Lot Size0.20 Acres
Price / SF$155.32
Days on Market49
Property Features for 2715 ACACIA Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Off Street
Subdivision
Edgewood Park
Lot features
Oversized
Standard status
Active
APN
38W304427
Size
1,925 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Description
EDGEWOOD PARK SQ 13 LOT 39-E 72.7X120 DBLE 10/RMS A/R 2715-2721 ACACIA ST
Legal Description
EDGEWOOD PARK SQ 13 LOT 39-E 72.7X120 DBLE 10/RMS A/R 2715-2721 ACACIA ST
Utilities
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1925
Floors in Building
1
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
(504) 455-0100
Listed By:
Margarete Wabnig · License #0995688813
(504) 669-8822
Added: Jun 25
Last Checked: Aug 12 at 11:06AM
MLS# 2564775
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 offering includes a historic duplex property described as a “double on a double lot,” with the adjacent vacant lot included in the sale. The duplex provides residential income potential through its two units within a single property. The combined package is positioned to support multiple buyer scenarios, including living in one side while renting the other, or purchasing for continued rental use.
The property is located at 2715 Acacia Street in New Orleans, Louisiana (70122). The listing also notes that the adjacent vacant lot is part of the transaction, creating a larger total site for buyers who want more flexibility than a standalone structure.
The duplex-and-lot configuration can be well-suited for owner-occupants and investors looking for options beyond a single residential asset. The adjacent lot may allow buyers to consider development-related possibilities; however, the buyer is responsible for verifying zoning, permitted uses, buildability, and all development requirements with the City of New Orleans. Additionally, any plans to combine, expand, or repurpose the site should be confirmed through the appropriate local review process.
The property is located at 2715 Acacia Street in New Orleans, Louisiana (70122). The listing also notes that the adjacent vacant lot is part of the transaction, creating a larger total site for buyers who want more flexibility than a standalone structure.
The duplex-and-lot configuration can be well-suited for owner-occupants and investors looking for options beyond a single residential asset. The adjacent lot may allow buyers to consider development-related possibilities; however, the buyer is responsible for verifying zoning, permitted uses, buildability, and all development requirements with the City of New Orleans. Additionally, any plans to combine, expand, or repurpose the site should be confirmed through the appropriate local review process.
Key Highlights
- Historic double on a double lot in Gentilly
- Adjacent vacant lot included in the sale for added flexibility
- Year built: 1925
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,943
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.67%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$398,860
$398.9K
Cap Rate 7%
$284,900
$284.9K
Cap Rate 9%
$221,589
$221.6K
Market Conditions
NOI Build-Up for 1,925 SF
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.
Gross rent
$31.2K $16.20/SF
− Vacancy
−$2.7K −$1.40/SF
EGI
$28.5K $14.80/SF
− OpEx
−$8.5K −$4.44/SF
NOI
$19.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$398,860
Cap Rate 7%
$284,900
Cap Rate 9%
$221,589
Alternative Uses
Best Use
Multifamily LT 5
$284.9K
$249.3K – $332.4K
NOI $19,943 @ 7.0% cap · market cap 6.67%
Second Best
Apartment 5plus
$247.5K
$216.5K – $288.7K
NOI $17,323 @ 7.0% cap · market cap 5.79%
Theoretical Best
Office A
$503.7K
$440.8K – $587.7K
NOI $35,260 @ 7.0% cap · market cap 11.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
501
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Income-producing duplex sold with an adjacent vacant lot, offering flexibility for living, renting, or future plans.
Where is this duplex located?
The property is located at 2715 ACACIA Street New Orleans, LA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Historic double on a double lot in Gentilly; Adjacent vacant lot included in the sale for added flexibility; Year built: 1925
