Six-Bedroom Duplex with Outdoor
For Sale
$480,000
2740 42 Conti St, New Orleans, LA 70119
Two three-bedroom residences feature open layouts, quartz countertops, stainless steel appliances, and contemporary interior finishes.
Property Size2,709 SF
Price / SF$177.19
Days on Market28
Property Features for 2740 42 Conti St
General Information
Standard status
Active
Size
2,709 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/3BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
stainless steel appliances
quartz counters
front porch
private balcony
walk-in closets
open floor plan
Building Details
Year Built
2019
Buildings
1
Construction
Contemporary
Listing Agency:
FQR Realtors
(504) 894-4586
Listed By:
Gary Anderson · License #995700410
Source:
Fiorellaavenue
Added: Aug 5
Changed: Aug 29
Last Checked: Aug 30 at 8:56PM
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 FQR Realtors
Investment Insights
Based on property information with market context.
Built in 2019, this two-unit duplex contains six bedrooms and six bathrooms, with each residence arranged as a three-bedroom, three-bathroom home. Both units offer open-concept interiors, stainless steel appliances, quartz countertops, and modern finishes. Every bedroom includes an ensuite bathroom and walk-in closet. A front porch serves the lower residence, while the upper unit includes a private balcony. Tenants are currently in place.
The property is located at 2740 42 Conti St in New Orleans, one block from the Lafitte Greenway and Whole Foods. City Park, the Fairgrounds, the Canal Streetcar Line, Bayou Beer Garden, the Endymion Parade Route, shops, and restaurants are also identified nearby. The property is in Flood Zone X and may suit an owner-occupant or investor seeking two separate residences.
The property is located at 2740 42 Conti St in New Orleans, one block from the Lafitte Greenway and Whole Foods. City Park, the Fairgrounds, the Canal Streetcar Line, Bayou Beer Garden, the Endymion Parade Route, shops, and restaurants are also identified nearby. The property is in Flood Zone X and may suit an owner-occupant or investor seeking two separate residences.
Key Highlights
- Two‑unit duplex with 6 bedrooms and 6 bathrooms
- Each unit offers a 3‑bedroom, 3‑bathroom layout
- Every bedroom includes an ensuite bathroom and walk‑in closet
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
$34,303
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
7.15%
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%
$686,060
$686.1K
Cap Rate 7%
$490,043
$490.0K
Cap Rate 9%
$381,144
$381.1K
Market Conditions
NOI Build-Up for 2,709 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
$53.6K $19.80/SF
− Vacancy
−$4.6K −$1.71/SF
EGI
$49.0K $18.09/SF
− OpEx
−$14.7K −$5.43/SF
NOI
$34.3K $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%
$686,060
Cap Rate 7%
$490,043
Cap Rate 9%
$381,144
Alternative Uses
Best Use
Multifamily LT 5
$490.0K
$428.8K – $571.7K
NOI $34,303 @ 7.0% cap · market cap 7.15%
Second Best
Apartment 5plus
$450.4K
$394.1K – $525.5K
NOI $31,530 @ 7.0% cap · market cap 6.57%
Theoretical Best
Office A
$708.9K
$620.3K – $827.0K
NOI $49,620 @ 7.0% cap · market cap 10.34%
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
2,599
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 residences feature open layouts, quartz countertops, stainless steel appliances, and contemporary interior finishes.
Where is this duplex located?
The property is located at 2740 42 Conti St New Orleans, LA.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: Two‑unit duplex with 6 bedrooms and 6 bathrooms; Each unit offers a 3‑bedroom, 3‑bathroom layout; Every bedroom includes an ensuite bathroom and walk‑in closet
