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 Market50
Property Features for 2822 24 S Roman St
General Information
Standard status
Active
Size
1,684 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Broadmoor
Building Details
Year Built
1922
Tenancy
Multi
Listing Agency:
Realtors- Loescher Properties
(504) 281-2232
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Sep 4
Changed: Oct 21
Last Checked: Oct 23 at 6:53AM
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 Realtors- Loescher Properties
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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.
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Open Analytics
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,692
Businesses Nearby
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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
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
