New Construction 3-Bedroom
New
For Sale
$469,000
2732 IBERVILLE Street, New Orleans, LA 70119
Multi-Family, Traditional, New Orleans, LA
Property Size2,462 SF
Price / SF$190.50
Days on Market5
Property Features for 2732 IBERVILLE Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Patio and Porch features
Porch
Exterior features
Balcony, Porch
Lot features
Regular
Subdivision
Mid City
Standard status
Active
APN
206204304
Size
2,462 SF
Taxes and HOA fees
Tax Description
As per title
Legal Description
As per title
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2024
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
Christian Shane Properties
(504) 208-5688
Listed By:
Christian Galvin · License #995718884
(504) 252-0455
Added: Aug 27
Last Checked: Aug 31 at 3:06PM
MLS# 2570454
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.
Built in 2024, this 2,462-square-foot duplex contains two residential units, each with 3 bedrooms and 3 baths. Both units offer an open kitchen and living arrangement, LVP flooring, quartz countertops, stainless-steel appliances, and washer/dryer hookups. Central heating and central air serve the property, with public water, a shingle roof, balconies, and porch features.
The property is located in New Orleans’ Mid-City area, within 5 blocks of the Canal Streetcar line. Downtown New Orleans, City Park, the Fairgrounds, the Lafitte Greenway, and dining options are identified nearby. The property is situated in an X Flood Zone.
The property is located in New Orleans’ Mid-City area, within 5 blocks of the Canal Streetcar line. Downtown New Orleans, City Park, the Fairgrounds, the Lafitte Greenway, and dining options are identified nearby. The property is situated in an X Flood Zone.
Key Highlights
- 2024‑built duplex totaling 2,462 square feet
- Two units, each with 3 bedrooms and 3 baths
- Open kitchen and living areas with quartz countertops 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
$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
Property Profile
Current Use
Lease Details
2
Residential units
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
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 three-bedroom units feature open living areas, modern finishes, and washer/dryer hookups.
Where is this duplex located?
The property is located at 2732 IBERVILLE Street 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‑built duplex totaling 2,462 square feet; Two units, each with 3 bedrooms and 3 baths; Open kitchen and living areas with quartz countertops and stainless‑steel appliances
