Duplex Income
2912-14 Banks Street New Orleans, LA 70119
For Sale
$345,000
Two-unit duplex with open living areas, hardwood floors, and high ceilings, plus front porch and spacious backyard.
Property Size1,836 SF
Price / SF$187.91
Days on Market127
Property Features for 2912-14 Banks Street
General Information
- Standard status
- Active
- Size
- 1,836 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1923
Listing Agency:
eXp Realty, LLC
(504) 344-0877
Listed By:
Adrienne LaBauve · License #995684424
(504) 344-0877
Source:
Compass
Added: Mar 19
Changed: Jul 23
Last Checked: Jul 23 at 2:37AM
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 duplex features two residential units, each offering an open living room and kitchen. Both units include two bedrooms positioned at the rear of the home, along with hardwood floors and high ceilings. Residents can enjoy an inviting front porch and access to a spacious backyard.
Located at 2912-14 Banks Street in New Orleans, the property is described as being in Mid-City with convenient proximity to shops, restaurants, Bayou St. John, and the Canal Street streetcar.
As a for-sale duplex property, it may be of interest to buyers seeking either an investor-held rental setup or owner-occupancy with income from the second unit, based on the existing two-unit layout.
Located at 2912-14 Banks Street in New Orleans, the property is described as being in Mid-City with convenient proximity to shops, restaurants, Bayou St. John, and the Canal Street streetcar.
As a for-sale duplex property, it may be of interest to buyers seeking either an investor-held rental setup or owner-occupancy with income from the second unit, based on the existing two-unit layout.
Key Highlights
- Two‑unit duplex (double) with 4 total bedrooms and 2 full bathrooms
- Each unit features an open living room and kitchen, with two bedrooms located at the rear of the home
- Hardwood floors and high ceilings throughout
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 | $36.4k | $19.80 |
| − Vacancy | −$3.1k | −$1.71 |
| EGI | $33.2k | $18.09 |
| − OpEx | −$10.0k | −$5.43 |
| NOI | $23.2k | $12.66 |
1,836 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$332.1K
$290.6K – $387.5K
NOI $23,248 @ 7.0% cap · market cap 6.74%
Second Best
Apartment 5plus
$305.3K
$267.1K – $356.2K
NOI $21,369 @ 7.0% cap · market cap 6.19%
Theoretical Best
Office A
$480.4K
$420.4K – $560.5K
NOI $33,630 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two-unit duplex with open living areas, hardwood floors, and high ceilings, plus front porch and spacious backyard.
Where is this duplex located?
The property is located at 2912-14 Banks Street New Orleans, LA.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Two‑unit duplex (double) with 4 total bedrooms and 2 full bathrooms; Each unit features an open living room and kitchen, with two bedrooms located at the rear of the home; Hardwood floors and high ceilings throughout
