Building Details

Year Built 1920

Listing Agency: eXp Realty, LLC

Listed By: Mike Humphrey · License #995707327 Show Phone

Source: Compass

Added: Feb 20 Changed: Oct 13 Last Checked: Oct 15 at 1:04AM

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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 eXp Realty, LLC

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Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$19,889

Cap Rate

5.30%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$397,780 $397.8K

Cap Rate 7%

$284,129 $284.1K

Cap Rate 9%

$220,989 $221.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,314 SF

Gross rent

$31.1K $13.44/SF

− Vacancy

−$2.7K −$1.16/SF

EGI

$28.4K $12.28/SF

− OpEx

−$8.5K −$3.68/SF

NOI

$19.9K $8.60/SF

Area

ZIP 70115

Vacancy

8.64%

Lease Rate

$13.44 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$397,780

Cap Rate 7%

$284,129

Cap Rate 9%

$220,989

Alternative Uses

Best Use

Multifamily LT 5

$284.1K

$248.6K – $331.5K (±1% cap)

NOI $19,889 @ 7.0% cap · market cap 5.30%

Second Best

Apartment 5plus

$251.9K

$220.4K – $293.9K (±1% cap)

NOI $17,631 @ 7.0% cap · market cap 4.70%

Theoretical Best

Office A

$610.5K

$534.2K – $712.3K (±1% cap)

NOI $42,735 @ 7.0% cap · market cap 11.40%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick Building Supply Nail Salon Kitchen & Bath Showroom Electrical Service HVAC Service Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,617

Businesses Nearby

Explore this area Business Placement

Demographics for 70115, LA

31,736

Population

18,134

Households

1.8

Avg Household Size

38

Median Age

64%

College-Educated

95%

High-School Grad

3.8 sq mi

ZIP Area

8,352

Density / Sq Mi

$94,181

Median Household Income

$57,242

Median Earnings

$1,442

Median Rent

$616,600

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

Where is this duplex located?

The property is located at 2817-23 Upperline Street New Orleans, LA.

What is the asking price?

The asking price for this property is $375,000.