New Construction Duplex with Modern
New
For Sale
$469,000
2732 34 Iberville St, New Orleans, LA 70119
Two residences feature three-bedroom, three-bath layouts, open living areas, and in-unit laundry hookups.
Property Size2,462 SF
Price / SF$190.50
Days on Market3
Property Features for 2732 34 Iberville St
General Information
Standard status
Active
Size
2,462 SF
Property subtype
Multi-Family
Building Details
Year Built
2024
Listing Agency:
Christian Shane Properties
Listed By:
Christian Galvin · License #995718884
(504) 252-0455
Source:
Fiorellaavenue
Added: Sep 8
Last Checked: Sep 10 at 12:05AM
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 Christian Shane Properties
Investment Insights
Based on property information with market context.
Completed in 2024, this 2,462-square-foot duplex contains two residential units, each with 3 bedrooms and 3 baths. Both residences offer an open kitchen and living arrangement, LVP flooring, quartz countertops, stainless-steel appliances, and hookups for an in-unit washer and dryer. The property is positioned for use as a residential income asset or an owner-occupied home with a second unit.
Located at 2732 34 Iberville St in New Orleans’ Mid-City, the duplex is 5 blocks from the Canal Streetcar line and provides access to downtown New Orleans, City Park, the Fairgrounds, the Lafitte Greenway, and nearby dining options. The property is in an X Flood Zone.
Located at 2732 34 Iberville St in New Orleans’ Mid-City, the duplex is 5 blocks from the Canal Streetcar line and provides access to downtown New Orleans, City Park, the Fairgrounds, the Lafitte Greenway, and nearby dining options. The property is in an X Flood Zone.
Key Highlights
- 2024 construction with 2,462 SF across two residential units
- Each unit includes 3 bedrooms and 3 baths
- Open kitchen and living areas with LVP 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
$31,175
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
6.65%
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%
$623,500
$623.5K
Cap Rate 7%
$445,357
$445.4K
Cap Rate 9%
$346,389
$346.4K
Market Conditions
NOI Build-Up for 2,462 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
$48.7K $19.80/SF
− Vacancy
−$4.2K −$1.71/SF
EGI
$44.5K $18.09/SF
− OpEx
−$13.4K −$5.43/SF
NOI
$31.2K $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%
$623,500
Cap Rate 7%
$445,357
Cap Rate 9%
$346,389
Alternative Uses
Best Use
Multifamily LT 5
$445.4K
$389.7K – $519.6K
NOI $31,175 @ 7.0% cap · market cap 6.65%
Second Best
Apartment 5plus
$409.4K
$358.2K – $477.6K
NOI $28,655 @ 7.0% cap · market cap 6.11%
Theoretical Best
Office A
$644.2K
$563.7K – $751.6K
NOI $45,096 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,777
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residences feature three-bedroom, three-bath layouts, open living areas, and in-unit laundry hookups.
Where is this duplex located?
The property is located at 2732 34 Iberville St New Orleans, LA.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: 2024 construction with 2,462 SF across two residential units; Each unit includes 3 bedrooms and 3 baths; Open kitchen and living areas with LVP flooring
