Newly Built Duplex with Private Outdoor
For Sale
$475,000
Pending
2722 New Orleans Street, New Orleans, LA 70119
2022 duplex offers two units, each with 3 bedrooms and 3 full bathrooms, plus fenced outdoor living areas.
Property Size2,710 SF
Days on Market128
Property Features for 2722 New Orleans Street
General Information
Standard status
Pending
Size
2,710 SF
Property subtype
Multi Family
Building Details
Year Built
2022
Listing Agency:
Compass
(504) 417-5131
Listed By:
Melissa Mcclendon · License #995704113
(504) 417-5131
Source:
Compass
Added: Apr 7
Changed: Aug 8
Last Checked: Jul 21 at 1:49AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass
Investment Insights
Based on property information with market context.
Built in 2022, this duplex features clean contemporary exterior design with durable Hardie plank siding and custom woodwork accents. Each unit offers an open-concept layout with soaring ceilings, recessed lighting, surround sound, and luxury vinyl plank flooring throughout. Kitchens include quartz countertops, stainless steel appliances, and ample cabinetry. Bedroom storage is built out with walk-in closets that have custom wood shelving, and the primary bathrooms include soaking tubs and separate walk-in showers. Outside, each unit has private outdoor living with a covered porch and a fully fenced backyard, and the upstairs unit also includes a private balcony. A recently added driveway provides off-street parking.
Located at 2722 New Orleans Street, the property is described as being near Fair Grounds, downtown New Orleans, and St. Augustine High School.
The duplex provides a total of 6 bedrooms and 6 full bathrooms across both units. The seller is willing to assist with closing costs, and the property may be eligible for a Short-Term Rental (STR) license (buyer to verify).
Located at 2722 New Orleans Street, the property is described as being near Fair Grounds, downtown New Orleans, and St. Augustine High School.
The duplex provides a total of 6 bedrooms and 6 full bathrooms across both units. The seller is willing to assist with closing costs, and the property may be eligible for a Short-Term Rental (STR) license (buyer to verify).
Key Highlights
- Duplex built in 2022 with modern design and durable Hardie plank siding
- Two units total 6 bedrooms and 6 full bathrooms, with each unit offering 3 bed/3 bath
- Open‑concept interiors with soaring ceilings, recessed lighting, surround sound, and luxury vinyl plank flooring
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
$34,315
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
7.22%
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%
$686,300
$686.3K
Cap Rate 7%
$490,214
$490.2K
Cap Rate 9%
$381,278
$381.3K
Market Conditions
NOI Build-Up for 2,710 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
$53.7K $19.80/SF
− Vacancy
−$4.6K −$1.71/SF
EGI
$49.0K $18.09/SF
− OpEx
−$14.7K −$5.43/SF
NOI
$34.3K $12.66/SF
Area
ZIP 70119
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 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%
$686,300
Cap Rate 7%
$490,214
Cap Rate 9%
$381,278
Alternative Uses
Best Use
Multifamily LT 5
$490.2K
$428.9K – $571.9K
NOI $34,315 @ 7.0% cap · market cap 7.22%
Second Best
Apartment 5plus
$450.6K
$394.3K – $525.7K
NOI $31,541 @ 7.0% cap · market cap 6.64%
Theoretical Best
Office A
$709.1K
$620.5K – $827.3K
NOI $49,639 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
758
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
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 - 2022 duplex offers two units, each with 3 bedrooms and 3 full bathrooms, plus fenced outdoor living areas.
Where is this duplex located?
The property is located at 2722 New Orleans Street New Orleans, LA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Duplex built in 2022 with modern design and durable Hardie plank siding; Two units total 6 bedrooms and 6 full bathrooms, with each unit offering 3 bed/3 bath; Open‑concept interiors with soaring ceilings, recessed lighting, surround sound, and luxury vinyl plank flooring
