Side-by-Side Duplex with
For Sale
$415,000
2832-34 Calhoun Street, New Orleans, LA 70118
Two residential units offer separate outdoor areas, parking, and differing levels of interior updates.
Property Size3,007 SF
Price / SF$138.01
Days on Market84
Property Features for 2832-34 Calhoun Street
General Information
Standard status
Active
Size
3,007 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Property Condition
Severity
Repairs Needed
Evidence
deferred maintenance
Additional Details
Multifamily Units
2
Amenities
Central Air, Window Unit(s)
Central, Other Heat
1
3
4
YES
Asphalt
Other
Pillar/Post/Pier
Stucco, Vinyl Siding
Porch
Building Details
Year Built
1950
Buildings
1
Listing Agency:
REMAX N.O. Properties
(504) 382-2603
Listed By:
Gary Lazarus · License #000027873
(504) 382-2603
Source:
Compass
Added: Jun 10
Changed: Aug 31
Last Checked: Aug 31 at 1:47AM
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 REMAX N.O. Properties
Investment Insights
Based on property information with market context.
Built in 1950, this side-by-side duplex contains two mirrored residential units. Each side includes a screened front porch, a private backyard, and off-street parking. The left unit has a renovated kitchen and bathroom along with central HVAC, while the right retains window-unit cooling and its existing character. Nine-foot ceilings span most rooms in both units. A Fortified roof was installed one year ago, and the property has deferred maintenance and additional updates remaining.
The property is located at 2832-34 Calhoun Street in New Orleans, with access to the Uptown area and proximity to Tulane, Loyola, Ursuline, McMain, and Willow. Its two-unit layout supports separate occupancy, with distinct exterior spaces and parking for each residence.
The property is located at 2832-34 Calhoun Street in New Orleans, with access to the Uptown area and proximity to Tulane, Loyola, Ursuline, McMain, and Willow. Its two-unit layout supports separate occupancy, with distinct exterior spaces and parking for each residence.
Key Highlights
- Side‑by‑side duplex with two mirrored residential units
- Screened front porch and private backyard for each unit
- Left unit includes renovated kitchen, renovated bathroom, and central HVAC
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
$38,076
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
9.17%
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%
$761,520
$761.5K
Cap Rate 7%
$543,943
$543.9K
Cap Rate 9%
$423,067
$423.1K
Market Conditions
NOI Build-Up for 3,007 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
$59.5K $19.80/SF
− Vacancy
−$5.1K −$1.71/SF
EGI
$54.4K $18.09/SF
− OpEx
−$16.3K −$5.43/SF
NOI
$38.1K $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%
$761,520
Cap Rate 7%
$543,943
Cap Rate 9%
$423,067
Alternative Uses
Best Use
Multifamily LT 5
$543.9K
$476.0K – $634.6K
NOI $38,076 @ 7.0% cap · market cap 9.17%
Second Best
Apartment 5plus
$500.0K
$437.5K – $583.3K
NOI $34,998 @ 7.0% cap · market cap 8.43%
Theoretical Best
Office A
$764.3K
$668.8K – $891.7K
NOI $53,500 @ 7.0% cap · market cap 12.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
973
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 separate outdoor areas, parking, and differing levels of interior updates.
Where is this duplex located?
The property is located at 2832-34 Calhoun Street New Orleans, LA.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Side‑by‑side duplex with two mirrored residential units; Screened front porch and private backyard for each unit; Left unit includes renovated kitchen, renovated bathroom, and central HVAC
