Two-Unit Duplex with Hardwood
For Sale
$280,000
2822 24 S Roman St, New Orleans, LA 70125
Each residence includes distinct living and kitchen areas within a spacious layout.
Property Size1,684 SF
Price / SF$166.27
Days on Market32
Property Features for 2822 24 S Roman St
General Information
Standard status
Active
Size
1,684 SF
Property subtype
Multi-Family
Building Details
Year Built
1922
Tenancy
Multi
Listing Agency:
Tuxor Realty
(713) 893-5580
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Sep 4
Changed: Oct 4
Last Checked: Oct 4 at 9:38AM
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 Tuxor Realty
Investment Insights
Based on property information with market context.
Built in 1922, this duplex contains two residences with a combined 6 bedrooms and 4 bathrooms. Both sides are arranged with 3 bedrooms and 2 full bathrooms, along with separate living and kitchen areas. Hardwood flooring and high ceilings add character throughout the interiors, while the unit-by-unit configuration creates a clear separation between the residences.
The property is located at 2822 24 S Roman St in New Orleans, Louisiana 70125. Its two-unit design is suited to an owner-occupant arrangement or a multifamily investment strategy, as supported by the existing layout.
The property is located at 2822 24 S Roman St in New Orleans, Louisiana 70125. Its two-unit design is suited to an owner-occupant arrangement or a multifamily investment strategy, as supported by the existing layout.
Key Highlights
- Two‑unit duplex with 3 bedrooms and 2 full baths per side
- 6 bedrooms and 4 bathrooms total
- Separate living and kitchen areas in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,324
Cap Rate
7.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$426,480
$426.5K
Cap Rate 7%
$304,629
$304.6K
Cap Rate 9%
$236,933
$236.9K
Market Conditions
NOI Build-Up for 1,684 SF
Gross rent
$33.3K $19.80/SF
− Vacancy
−$2.9K −$1.71/SF
EGI
$30.5K $18.09/SF
− OpEx
−$9.1K −$5.43/SF
NOI
$21.3K $12.66/SF
Area
New Orleans, LA
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 Rate 5%
$426,480
Cap Rate 7%
$304,629
Cap Rate 9%
$236,933
Alternative Uses
Best Use
Multifamily LT 5
$304.6K
$266.6K – $355.4K
NOI $21,324 @ 7.0% cap · market cap 7.62%
Second Best
Apartment 5plus
$280.0K
$245.0K – $326.7K
NOI $19,600 @ 7.0% cap · market cap 7.00%
Theoretical Best
Office A
$428.0K
$374.5K – $499.4K
NOI $29,961 @ 7.0% cap · market cap 10.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,692
Businesses Nearby
Explore this area
Business Placement
Demographics for 70125, LA
17,457
Population
7,972
Households
2.2
Avg Household Size
33
Median Age
46%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
7,590
Density / Sq Mi
$58,956
Median Household Income
$39,623
Median Earnings
$1,292
Median Rent
$428,600
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 - Each residence includes distinct living and kitchen areas within a spacious layout.
Where is this duplex located?
The property is located at 2822 24 S Roman St New Orleans, LA.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms and 2 full baths per side; 6 bedrooms and 4 bathrooms total; Separate living and kitchen areas in each unit
