Two-Story Duplex with
For Sale
$589,000
2830-32 Palmer Avenue, New Orleans, LA 70118
Two residential units offer hardwood floors, central air, flexible fourth-bedroom space, and shared outdoor areas.
Property Size3,458 SF
Price / SF$170.33
Days on Market302
Property Features for 2830-32 Palmer Avenue
General Information
Standard status
Active
Size
3,458 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Amenities
Central Air
Central
1
4
8
Asphalt
Other
2
Pillar/Post/Pier
Stucco
Listing Agency:
Crescent Sotheby's International Realty
(504) 650-3912
Listed By:
Dawnne Keeney · License #995696801
(504) 650-3912
Source:
Compass
Added: Nov 4, 2025
Changed: Sep 1
Last Checked: Aug 31 at 9:42PM
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 Crescent Sotheby's International Realty
Investment Insights
Based on property information with market context.
This two-story duplex at 2830-32 Palmer Avenue contains two residential units, each arranged with four bedrooms and two full bathrooms. The 3,458-square-foot property includes spacious living and dining rooms, separate kitchens, center-hall layouts, hardwood flooring, and central air. Fourth bedrooms provide additional room for office or playroom use. Each unit also has covered rear parking, and the property includes a shared concrete patio for outdoor dining and grilling.
Off-street parking accommodates eight cars, with spaces in the front, driveway, and covered rear area. The property is located a few blocks from Tulane and Loyola campuses, near Claiborne Avenue dining, and convenient to Maple Street and Carrollton Avenue restaurants, shops, and retail services.
Off-street parking accommodates eight cars, with spaces in the front, driveway, and covered rear area. The property is located a few blocks from Tulane and Loyola campuses, near Claiborne Avenue dining, and convenient to Maple Street and Carrollton Avenue restaurants, shops, and retail services.
Key Highlights
- 3,458‑square‑foot two‑story duplex with two residential units
- Each unit includes 4 bedrooms and 2 full baths
- Off‑street parking for EIGHT cars: 4 in front, 2 in driveway, and 2 covered in rear area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$43,787
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.43%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$875,740
$875.7K
Cap Rate 7%
$625,529
$625.5K
Cap Rate 9%
$486,522
$486.5K
Market Conditions
NOI Build-Up for 3,458 SF
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.
Gross rent
$68.5K $19.80/SF
− Vacancy
−$5.9K −$1.71/SF
EGI
$62.6K $18.09/SF
− OpEx
−$18.8K −$5.43/SF
NOI
$43.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$875,740
Cap Rate 7%
$625,529
Cap Rate 9%
$486,522
Alternative Uses
Best Use
Multifamily LT 5
$625.5K
$547.3K – $729.8K
NOI $43,787 @ 7.0% cap · market cap 7.43%
Second Best
Apartment 5plus
$575.0K
$503.1K – $670.8K
NOI $40,247 @ 7.0% cap · market cap 6.83%
Theoretical Best
Office A
$878.9K
$769.1K – $1.03M
NOI $61,524 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,485
Businesses Nearby
Explore this area
Business Placement
Demographics for 70118, LA
35,635
Population
15,464
Households
2.3
Avg Household Size
31
Median Age
54%
College-Educated
92%
High-School Grad
4.6 sq mi
ZIP Area
7,747
Density / Sq Mi
$62,665
Median Household Income
$28,199
Median Earnings
$1,257
Median Rent
$451,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer hardwood floors, central air, flexible fourth-bedroom space, and shared outdoor areas.
Where is this duplex located?
The property is located at 2830-32 Palmer Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: 3,458‑square‑foot two‑story duplex with two residential units; Each unit includes 4 bedrooms and 2 full baths; Off‑street parking for EIGHT cars: 4 in front, 2 in driveway, and 2 covered in rear area
