Double Shotgun Duplex
2829-31 Orleans Avenue New Orleans, LA 70119
2829-31 Orleans Avenue, New Orleans, LA, 70119
$215,000
For Sale
$215,000
Two separate 1-bedroom, 1-bath units with separate water and electric meters; leveled and shored in 2015.
Property Size1,346 SF
Price / SF$159.73
Days on Market196
Property Features for 2829-31 Orleans Avenue
General Information
- Standard status
- Active
- Size
- 1,346 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1914
Listing agency
eXp Realty, LLC
(504) 344-0877
Listed by
Adrienne LaBauve · License #995684424
(504) 344-0877
Source
Compass
Added: Jan 6 Updated: Jul 20 at 9:41PM Checked: Jul 20 at 9:41PM
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
Investment Insights
Based on property information with market context.
This traditional double shotgun duplex features two separate units, each with one bedroom and one bathroom. The property was leveled and shored in 2015, and it has two water meters and two electric meters, supporting independent utility service for each unit. The duplex can be lived in immediately, though it does need some work.
Located in Mid-City, the listing highlights proximity to the new VA Hospital, Whole Foods, and the streetcar line, along with nearby dining and entertainment options. Access to downtown and major transportation corridors is described as convenient.
Overall, the property is configured as a two-unit residential income asset with separate metering and a duplex layout suited for an income-producing investment or portfolio addition.
Located in Mid-City, the listing highlights proximity to the new VA Hospital, Whole Foods, and the streetcar line, along with nearby dining and entertainment options. Access to downtown and major transportation corridors is described as convenient.
Overall, the property is configured as a two-unit residential income asset with separate metering and a duplex layout suited for an income-producing investment or portfolio addition.
Key Highlights
- Traditional double shotgun with 2 separate units (each 1 bedroom, 1 bathroom).
- Separate utility metering: two water meters and two electric meters.
- Leveled and shored in 2015.
Local Financial Insights For Multifamily LT 5
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 | $26.7k | $19.80 |
| − Vacancy | −$2.3k | −$1.71 |
| EGI | $24.3k | $18.09 |
| − OpEx | −$7.3k | −$5.43 |
| NOI | $17.0k | $12.66 |
1,346 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$243.5K
$213.1K – $284.1K
NOI $17,044 @ 7.0% cap · market cap 7.93%
Second Best
Apartment 5plus
$223.8K
$195.8K – $261.1K
NOI $15,666 @ 7.0% cap · market cap 7.29%
Theoretical Best
Office A
$352.2K
$308.2K – $410.9K
NOI $24,654 @ 7.0% cap · market cap 11.47%
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 - Two separate 1-bedroom, 1-bath units with separate water and electric meters; leveled and shored in 2015.
Where is this duplex located?
The property is located at 2829-31 Orleans Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Traditional double shotgun with 2 separate units (each 1 bedroom, 1 bathroom).; Separate utility metering: two water meters and two electric meters.; Leveled and shored in 2015.
