Updated Duplex with Private
For Sale
$425,000
2728 S Carrollton Ave, New Orleans, LA 70118
Two distinct residences offer private rear courtyards and a shared screened front porch.
Property Size2,230 SF
Price / SF$190.58
Days on Market16
Property Features for 2728 S Carrollton Ave
General Information
Standard status
Active
Size
2,230 SF
Property subtype
Multi-Family
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Amenities
screened-in front porch
private courtyard
in-unit laundry
Building Details
Year Built
1920
Year Renovated
2015
Listing Agency:
REVE, REALTORS
(504) 352-3357
Listed By:
Ryan Wentworth · License #000071657
Source:
Dominionplace
Added: Aug 17
Changed: Aug 31
Last Checked: Aug 31 at 6:43PM
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 REVE, REALTORS
Investment Insights
Based on property information with market context.
Built in 1920, this duplex contains two separately addressed residences at 2728 and 2730 S. Carrollton Avenue. The larger unit includes two bedrooms, two full baths, a kitchen, formal living and dining rooms, and a full-sized laundry room with additional storage. The second residence provides two bedrooms, one full bath, and in-unit laundry. Both units have access to the screened front porch and maintain private courtyards at the rear.
Kitchen and bathroom renovations were completed in 2015, followed by new supply plumbing in both residences, interior paint, new hot water heaters, and HVAC replacement in the 2728 unit. The metal roof was serviced and re-sealed in 2024. The property is in an X flood zone and offers access to Uptown and Downtown New Orleans, Jefferson Parish, nearby streetcar service, universities, restaurants, and daily conveniences along the Carrollton corridor. The layout supports owner occupancy with a second residence or continued use as a two-unit investment property.
Kitchen and bathroom renovations were completed in 2015, followed by new supply plumbing in both residences, interior paint, new hot water heaters, and HVAC replacement in the 2728 unit. The metal roof was serviced and re-sealed in 2024. The property is in an X flood zone and offers access to Uptown and Downtown New Orleans, Jefferson Parish, nearby streetcar service, universities, restaurants, and daily conveniences along the Carrollton corridor. The layout supports owner occupancy with a second residence or continued use as a two-unit investment property.
Key Highlights
- Two‑unit property at 2728 and 2730 S. Carrollton Avenue
- Unit layouts include two bedrooms and two full baths in 2728; two bedrooms and one full bath in 2730
- Private rear courtyard for each residence plus a shared screened front porch
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
$28,237
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
6.64%
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%
$564,740
$564.7K
Cap Rate 7%
$403,386
$403.4K
Cap Rate 9%
$313,744
$313.7K
Market Conditions
NOI Build-Up for 2,230 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
$44.2K $19.80/SF
− Vacancy
−$3.8K −$1.71/SF
EGI
$40.3K $18.09/SF
− OpEx
−$12.1K −$5.43/SF
NOI
$28.2K $12.66/SF
Area
New Orleans, LA
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%
$564,740
Cap Rate 7%
$403,386
Cap Rate 9%
$313,744
Alternative Uses
Best Use
Multifamily LT 5
$403.4K
$353.0K – $470.6K
NOI $28,237 @ 7.0% cap · market cap 6.64%
Second Best
Apartment 5plus
$370.8K
$324.4K – $432.6K
NOI $25,955 @ 7.0% cap · market cap 6.11%
Theoretical Best
Office A
$566.8K
$495.9K – $661.3K
NOI $39,675 @ 7.0% cap · market cap 9.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
830
Businesses Nearby
Explore this area
Business Placement
Demographics for 70118, LA
35,635
Population
15,464
Households
2.3
Avg Household Size
31
Median Age
54%
College-Educated
92%
High-School Grad
4.6 sq mi
ZIP Area
7,747
Density / Sq Mi
$62,665
Median Household Income
$28,199
Median Earnings
$1,257
Median Rent
$451,600
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 distinct residences offer private rear courtyards and a shared screened front porch.
Where is this duplex located?
The property is located at 2728 S Carrollton Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two‑unit property at 2728 and 2730 S. Carrollton Avenue; Unit layouts include two bedrooms and two full baths in 2728; two bedrooms and one full bath in 2730; Private rear courtyard for each residence plus a shared screened front porch
