Multifamily Property with Fenced
For Sale
$490,000
3 5 Neron Place, New Orleans, LA 70118
Lower- and upper-level residences feature separate kitchens, in-unit laundry, and off-street parking.
Property Size3,200 SF
Price / SF$153.13
Days on Market95
Property Features for 3 5 Neron Place
General Information
Standard status
Active
Size
3,200 SF
Total Parking Spaces
2
Property subtype
Multi Family Home
Site & Location
Neighborhood
Leonidas
Public Transit
Yes
Units
Multifamily Units
2
Parking per Unit
1
Amenities
Porch
Building Details
Building Size
3,200 SF
Year Built
1964
Stories
2
Listing Agency:
Keller Williams Realty 455-0100
(504) 455-0100
Listed By:
Angela Discon · License #000045104
(504) 554-8267
Source:
Donaldjulienrealestate
Added: Jul 24
Changed: Oct 25
Last Checked: Oct 23 at 6:06PM
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 Keller Williams Realty 455-0100
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,200-square-foot multifamily property, built in 1964, has lower- and upper-level residences. The lower unit includes a spacious living room with slate flooring, a separate dining room, three bedrooms, and a kitchen with granite counters and stainless steel appliances. Its primary bathroom has a new shower, and a rear entrance opens to a fenced backyard. The upper unit has LVP flooring, tiled bathrooms, and a kitchen with granite counters and stainless steel appliances. Each residence has in-unit laundry; the lower unit accommodates a full-size washer and dryer, while the upper has a stackable set. A front porch and driveway parking for two cars are also included.
The property is near Audubon Park, Loyola, and Tulane, with walking access to the streetcar on Carrollton Avenue. The owner pays for water.
The property is near Audubon Park, Loyola, and Tulane, with walking access to the streetcar on Carrollton Avenue. The owner pays for water.
Key Highlights
- 3,200‑square‑foot multifamily property built in 1964
- Lower residence includes three bedrooms and a separate dining room
- Granite kitchen counters and stainless steel appliances in both residences
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,244
Cap Rate
7.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$744,880
$744.9K
Cap Rate 7%
$532,057
$532.1K
Cap Rate 9%
$413,822
$413.8K
Market Conditions
NOI Build-Up for 3,200 SF
Gross rent
$74.5K $23.28/SF
− Vacancy
−$6.8K −$2.12/SF
EGI
$67.7K $21.16/SF
− OpEx
−$30.5K −$9.52/SF
NOI
$37.2K $11.64/SF
Area
New Orleans, LA
Vacancy
9.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$744,880
Cap Rate 7%
$532,057
Cap Rate 9%
$413,822
Alternative Uses
Best Use
Apartment 5plus
$532.1K
$465.6K – $620.7K
NOI $37,244 @ 7.0% cap · market cap 7.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$813.3K
$711.7K – $948.9K
NOI $56,933 @ 7.0% cap · market cap 11.62%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
997
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Lower- and upper-level residences feature separate kitchens, in-unit laundry, and off-street parking.
Where is this multifamily property located?
The property is located at 3 5 Neron Place New Orleans, LA.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: 3,200‑square‑foot multifamily property built in 1964; Lower residence includes three bedrooms and a separate dining room; Granite kitchen counters and stainless steel appliances in both residences
