Renovated Duplex with
For Sale
$435,000
2724-26 UPPERLINE Street, New Orleans, LA 70115
Multi-Family, Cottage, New Orleans, LA
Property Size1,792 SF
Lot Size0.12 Acres
Price / SF$242.75
Days on Market93
Property Features for 2724-26 UPPERLINE Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Driveway, Off Street
Patio and Porch features
Porch
Exterior features
Balcony, Fence, Porch
Fencing
Fenced
Lot features
Regular
Standard status
Active
APN
614334612
Size
1,792 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
SQ 644 LOT 27 45X120 2724-26 UPPERLINE DU-W
Legal Description
SQ 644 LOT 27 45X120 2724-26 UPPERLINE DU-W
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
gated off-street parking
front porches
balcony
fenced yard
detached backyard storage
Building Details
Year built
1939
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Cottage
Listing Agency:
Realty One Group Immobilia
(985) 218-8081
Listed By:
Richard Briseno · License #995692712
(504) 628-0391
Added: Jun 1
Changed: Aug 26
Last Checked: Sep 1 at 12:06PM
MLS# 2560138
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 renovated duplex contains two residential units, each arranged with 2 bedrooms and 1 full bath. The property totals 1,792 square feet on a 0.124-acre lot and combines modern interior improvements with cottage-style character. Features include open-concept living areas, recessed lighting, crown molding, updated kitchens, stainless steel appliances, quartz-style and granite countertops, hardwood flooring, exposed brick accents, and a marble bath with a glass-enclosed shower. One unit includes a front balcony, while both residences provide porch space.
Exterior amenities include a gated driveway with off-street parking, a fenced yard, and detached backyard storage. Built in 1939, the property has central heating and central air, a shingle roof, and public water service. Its Upperline Street location is near Freret Street dining, shopping, universities, and entertainment, with access to Uptown and Downtown New Orleans.
Exterior amenities include a gated driveway with off-street parking, a fenced yard, and detached backyard storage. Built in 1939, the property has central heating and central air, a shingle roof, and public water service. Its Upperline Street location is near Freret Street dining, shopping, universities, and entertainment, with access to Uptown and Downtown New Orleans.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 full bath in each unit
- 1,792 square feet on a 0.124‑acre lot
- Fully renovated interiors with updated kitchens and stainless steel appliances
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
$15,403
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
3.54%
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%
$308,060
$308.1K
Cap Rate 7%
$220,043
$220.0K
Cap Rate 9%
$171,144
$171.1K
Market Conditions
NOI Build-Up for 1,792 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
$24.1K $13.44/SF
− Vacancy
−$2.1K −$1.16/SF
EGI
$22.0K $12.28/SF
− OpEx
−$6.6K −$3.68/SF
NOI
$15.4K $8.60/SF
Area
ZIP 70115
Vacancy
8.64%
Lease Rate
$13.44 /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%
$308,060
Cap Rate 7%
$220,043
Cap Rate 9%
$171,144
Alternative Uses
Best Use
Multifamily LT 5
$220.0K
$192.5K – $256.7K
NOI $15,403 @ 7.0% cap · market cap 3.54%
Second Best
Apartment 5plus
$195.1K
$170.7K – $227.6K
NOI $13,654 @ 7.0% cap · market cap 3.14%
Theoretical Best
Office A
$472.8K
$413.7K – $551.6K
NOI $33,095 @ 7.0% cap · market cap 7.61%
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
1,568
Businesses Nearby
Explore this area
Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
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 - Two residential units offer updated finishes, private outdoor spaces, and gated off-street parking in New Orleans.
Where is this duplex located?
The property is located at 2724-26 UPPERLINE Street New Orleans, LA.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 full bath in each unit; 1,792 square feet on a 0.124‑acre lot; Fully renovated interiors with updated kitchens and stainless steel appliances
