Renovation-Ready
For Sale
$200,000
Pending
2909 Carondelet St, New Orleans, LA 70130
Two residential units offer a practical layout with off-street parking in New Orleans’ Garden District.
Property Size1,352 SF
Days on Market61
Property Features for 2909 Carondelet St
General Information
Standard status
Pending
Size
1,352 SF
Property subtype
Residential Income
Property Condition
Severity
Repairs Needed
Evidence
requires renovation
Site & Location
Neighborhood
Garden District
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Listing Agency:
The Pellerin Group NOLA LLC
(504) 447-2479
Listed By:
Latoya Robinson · License #995715997
(504) 914-2043
Source:
Exprealty
Added: Aug 27
Changed: Oct 26
Last Checked: Oct 24 at 11:32PM
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 The Pellerin Group NOLA LLC
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Investment Insights
Based on property information with market context.
This duplex contains two residential units, each arranged with 2 bedrooms and 1 full bath. The 1,352-square-foot property includes off-street parking and requires renovation, allowing the next owner to update the interiors and rework the property according to a defined plan.
The address is in New Orleans’ Garden District, with St. Charles Avenue located one block away. The property is also near the route used for the city’s carnival-season parades, placing it within an established historic and cultural setting. Its two-unit configuration and existing parking provide a straightforward foundation for a residential renovation project.
The address is in New Orleans’ Garden District, with St. Charles Avenue located one block away. The property is also near the route used for the city’s carnival-season parades, placing it within an established historic and cultural setting. Its two-unit configuration and existing parking provide a straightforward foundation for a residential renovation project.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 full bath per unit
- 1,352‑square‑foot property requiring renovation
- Off‑street parking included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,120
Cap Rate
8.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$342,400
$342.4K
Cap Rate 7%
$244,571
$244.6K
Cap Rate 9%
$190,222
$190.2K
Market Conditions
NOI Build-Up for 1,352 SF
Gross rent
$26.8K $19.80/SF
− Vacancy
−$2.3K −$1.71/SF
EGI
$24.5K $18.09/SF
− OpEx
−$7.3K −$5.43/SF
NOI
$17.1K $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 Rate 5%
$342,400
Cap Rate 7%
$244,571
Cap Rate 9%
$190,222
Alternative Uses
Best Use
Multifamily LT 5
$244.6K
$214.0K – $285.3K
NOI $17,120 @ 7.0% cap · market cap 8.56%
Second Best
Apartment 5plus
$224.8K
$196.7K – $262.3K
NOI $15,736 @ 7.0% cap · market cap 7.87%
Theoretical Best
Office A
$343.6K
$300.7K – $400.9K
NOI $24,054 @ 7.0% cap · market cap 12.03%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,017
Businesses Nearby
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Business Placement
Demographics for 70130, LA
14,521
Population
10,927
Households
1.3
Avg Household Size
38
Median Age
64%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
6,915
Density / Sq Mi
$82,758
Median Household Income
$52,492
Median Earnings
$1,410
Median Rent
$529,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer a practical layout with off-street parking in New Orleans’ Garden District.
Where is this duplex located?
The property is located at 2909 Carondelet St New Orleans, LA.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 full bath per unit; 1,352‑square‑foot property requiring renovation; Off‑street parking included
