Two-Unit Residential Income
2759-61 New York Street New Orleans, LA 70122
2759-61 New York Street, New Orleans, LA, 70122
$204,500
For Sale
$204,500
Duplex with a 2-bedroom and a 4-bedroom unit, with renovation work started on one side and sold as-is.
Property Size1,929 SF
Price / SF$106.01
Days on Market42
Property Features for 2759-61 New York Street
General Information
- Standard status
- Active
- Size
- 1,929 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1955
Listing agency
REACH Real Estate Solutions
(504) 915-3183
Listed by
Athena Walker · License #995709707
(504) 915-3183
Source
Compass
Added: Jun 12 Updated: Jul 22 at 2:22PM Checked: Jul 22 at 2:22PM
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 REACH Real Estate Solutions
Investment Insights
Based on property information with market context.
This duplex consists of two residential units: one 2-bedroom, 1-bath unit and one 4-bedroom, 1-bath unit. Updates were started on the 2761 side but have not been completed, so the next owner can finish renovations based on their preferences. The property is sold as-is, with the seller making no repairs.
The property is located at 2759-2761 New York Street in New Orleans, providing convenient access to major roadways as well as the Central Business District, local universities, healthcare facilities, shopping, dining, and entertainment.
With two separate units in place and renovation work already underway on one side, this property offers a straightforward duplex configuration for rental use.
The property is located at 2759-2761 New York Street in New Orleans, providing convenient access to major roadways as well as the Central Business District, local universities, healthcare facilities, shopping, dining, and entertainment.
With two separate units in place and renovation work already underway on one side, this property offers a straightforward duplex configuration for rental use.
Key Highlights
- Duplex at 2759‑2761 New York Street with two units: a 2‑bedroom, 1‑bath unit and a 4‑bedroom, 1‑bath unit
- Renovations started on Unit 2761 but not completed—sold as‑is, with the seller making no repairs
- 6 total bedrooms and 2 full bathrooms across the duplex
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $34.7k | $18.00 |
| − Vacancy | −$3.2k | −$1.64 |
| EGI | $31.6k | $16.36 |
| − OpEx | −$14.2k | −$7.36 |
| NOI | $17.4k | $9.00 |
1,929 SF · lease $18.00/SF/yr · vacancy 9.10% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$285.5K
$249.8K – $333.1K
NOI $19,985 @ 7.0% cap · market cap 9.77%
Second Best
Apartment 5plus
$248.0K
$217.0K – $289.3K
NOI $17,359 @ 7.0% cap · market cap 8.49%
Theoretical Best
Office A
$504.8K
$441.7K – $588.9K
NOI $35,333 @ 7.0% cap · market cap 17.28%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Duplex with a 2-bedroom and a 4-bedroom unit, with renovation work started on one side and sold as-is.
Where is this duplex located?
The property is located at 2759-61 New York Street New Orleans, LA.
What is the asking price?
The asking price for this property is $204,500.
What are key features of this property?
This property features: Duplex at 2759‑2761 New York Street with two units: a 2‑bedroom, 1‑bath unit and a 4‑bedroom, 1‑bath unit; Renovations started on Unit 2761 but not completed—sold as‑is, with the seller making no repairs; 6 total bedrooms and 2 full bathrooms across the duplex
