Renovated Duplex with Owner
New
For Sale
$699,000
2728 General Pershing St, New Orleans, LA 70115
One residence is leased through February 2027, while the adjoining unit supports owner occupancy.
Property Size3,369 SF
Price / SF$207.48
Days on Market4
Property Features for 2728 General Pershing St
General Information
Standard status
Active
Size
3,369 SF
Property subtype
Multi-Family
Building Details
Year Built
1921
Year Renovated
2020
Listing Agency:
People's Realty, Inc.
(504) 606-0466
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Aug 28
Changed: Aug 30
Last Checked: Aug 30 at 4:04PM
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 People's Realty, Inc.
Investment Insights
Based on property information with market context.
This 3,369-square-foot duplex at 2728 General Pershing St. and 2730 General Pershing was renovated in 2020. The interior includes a custom kitchen, connected living and den areas, a bar, and an oversized rear porch that extends the usable entertaining space outdoors.
The primary suite features a custom walk-in closet, dedicated vanity area, marble finishes, and upgraded fixtures. The arrangement supports an owner-occupant in one unit while the adjacent residence at 2728 General Pershing is leased through February 2027. The property was built in 1921 and is located in New Orleans’ Freret Street neighborhood.
The primary suite features a custom walk-in closet, dedicated vanity area, marble finishes, and upgraded fixtures. The arrangement supports an owner-occupant in one unit while the adjacent residence at 2728 General Pershing is leased through February 2027. The property was built in 1921 and is located in New Orleans’ Freret Street neighborhood.
Key Highlights
- 3,369‑square‑foot duplex renovated in 2020
- One unit is leased through February 2027
- Owner‑occupancy setup with an adjacent rented unit
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
$28,957
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
4.14%
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%
$579,140
$579.1K
Cap Rate 7%
$413,671
$413.7K
Cap Rate 9%
$321,744
$321.7K
Market Conditions
NOI Build-Up for 3,369 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
$45.3K $13.44/SF
− Vacancy
−$3.9K −$1.16/SF
EGI
$41.4K $12.28/SF
− OpEx
−$12.4K −$3.68/SF
NOI
$29.0K $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%
$579,140
Cap Rate 7%
$413,671
Cap Rate 9%
$321,744
Alternative Uses
Best Use
Multifamily LT 5
$413.7K
$362.0K – $482.6K
NOI $28,957 @ 7.0% cap · market cap 4.14%
Second Best
Apartment 5plus
$366.7K
$320.9K – $427.8K
NOI $25,669 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$888.8K
$777.7K – $1.04M
NOI $62,219 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,672
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 - One residence is leased through February 2027, while the adjoining unit supports owner occupancy.
Where is this duplex located?
The property is located at 2728 General Pershing St New Orleans, LA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 3,369‑square‑foot duplex renovated in 2020; One unit is leased through February 2027; Owner‑occupancy setup with an adjacent rented unit
