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    Uptown New Orleans Multi-Family Property Title is generated by Realmo AI

    2721 CALHOUN Street, New Orleans, LA 70118

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    Claim this Listing
    For Sale
    $650,000

    MULTI_FAMILY - New Orleans, LA

    Property size:
    3,900 SF
    Lot size:
    0.13 Acres
    Price / SF:
    $166/SF
    Added:
    Apr 15, 2026
    Days on Market:
    42
    Last Refresh:
    May 26 at 7:06 am

    Property Features for 2721 CALHOUN Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking features
    Carport, Driveway
    Standard status
    Active
    APN
    2723-CALHOUN st
    Size
    3,900 SF
    Lot size
    0.13 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1920
    Floors in Building
    2
    Number of units
    2
    Roof type
    Shingle
    Architectural style
    Other

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    Listing Contact
    Charlotte Dorion
    Charlotte Dorion

    Listing agent Charlotte Dorion License #000044739

    Listing office Berkshire Hathaway HomeServices Preferred, REALTOR 4018 Magazine St., New Orleans, LA

    Listing date Apr 15, 2026

    MLS# 2552877 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.

    HighLights

    • Potential rental income of approximately $3,000/month from the upper unit
    • Two independent units, each with 3 bedrooms and 2 full baths
    • Located steps from Tulane University, ideal for Tulane fans and game day access
    • Ample off‑street parking with private driveways for each unit and a covered two‑car carport
    • Desirable Uptown location with easy access to Audubon Park, the Zoo, and Magazine and Freret Street shops and restaurants
    • Well‑maintained property with a new roof installed in 2021

    Overview

    This well-maintained 6-bedroom, 4-bath property features two thoughtfully designed units, each offering three independent bedrooms and two full baths. Situated on a generous 50 x 116 lot, the property also boasts a shaded backyard perfect for relaxing, entertaining, or weekend barbecues. The lower unit has stained glass shutters, wood floors, and built-ins. The chef's kitchen features granite countertops, custom wood cabinetry with roll-out pantry drawers, and side-by-side full-size refrigerator and freezer. Two primary suites offer abundant closet space and beautifully updated baths, including one with a marble vanity and walk-in shower, plus the convenience of an in-unit laundry. The upper unit offers an enclosed front porch, a spacious primary suite with three closets, and two additional bedrooms connected by a Jack-and-Jill bath. A large eat-in kitchen and separate laundry room provide comfort and functionality for tenants or guests. Additional highlights include soaring 10-foot ceilings, a gas fireplace, abundant storage, two electric meters, two water meters, and a new roof installed in 2021. The property is located steps from Tulane game days and enjoys easy access to Audubon Park, the zoo, and the vibrant shops and restaurants along Magazine and Freret Streets. The property is ideal for investors, second-home buyers, or a 1031 exchange. The property offers the potential to owner-occupy the lower unit and offset the mortgage with rental income from the upper apartment. The property size is 3900 square feet.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $548.7K
    NOI $49,384 @ 9.00% cap · cautious / downside scenario
    Moderate
    $705.5K
    NOI $49,384 @ 7.00% cap · market / base-case scenario
    Aggressive
    $987.7K
    NOI $49,384 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
    Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $77.2k $19.80
    − Vacancy −$6.7k −$1.71
    EGI $70.5k $18.09
    − OpEx −$21.2k −$5.43
    NOI $49.4k $12.66
    3,900 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $705.5K
    $617.3K – $823.1K (±1% cap)
    NOI $49,384 @ 7.0% cap · market cap 7.60%
    Second Best
    Apartment 5plus
    $648.4K
    $567.4K – $756.5K (±1% cap)
    NOI $45,391 @ 7.0% cap · market cap 6.98%
    Theoretical Best
    Office A
    $991.3K
    $867.4K – $1.16M (±1% cap)
    NOI $69,388 @ 7.0% cap · market cap 10.68%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.115419
    Latitude
    29.942869

    FAQs

    What type of property is this?
    Duplex - Well-maintained 6-bedroom, 4-bath property near Tulane and Audubon Park.
    Where is this duplex located?
    The property is located at 2721 CALHOUN Street New Orleans, LA.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: Potential rental income of approximately $3,000/month from the upper unit; Two independent units, each with 3 bedrooms and 2 full baths; Located steps from Tulane University, ideal for Tulane fans and game day access
    More about this property
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