Two-Unit Residential Income
3 NERON Place New Orleans, LA 70118
New
For Sale
$525,000
MULTI_FAMILY - New Orleans, LA
Property Size3,200 SF
Price / SF$164.06
Days on Market4
Property Features for 3 NERON Place
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Parking features
- Off Street, Driveway
- Patio and Porch features
- Porch
- Exterior features
- Porch
- Standard status
- Active
- APN
- 716306415
- Size
- 3,200 SF
Taxes and HOA fees
- Tax Description
- sq 320 lot 2 56x90
Utilities
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1964
- Floors in Building
- 2
- Number of units
- 2
- Roof type
- Shingle
- Architectural style
- Other
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
(504) 455-0100
Listed By:
Angela Discon
(504) 554-8267
Added: Jul 24
Last Checked: Jul 27 at 3:06AM
MLS# 2569267
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-unit residential income property includes an upper and a lower unit. Unit 3 is currently vacant and available for lease. The lower unit features slate flooring in the living room, a separate dining room, and three bedrooms, with tile flooring in the bathrooms and a brand-new shower in the primary bathroom. It also offers private rear access to a fenced backyard via a rear door, and includes a kitchen with granite counters and stainless appliances. Laundry is located inside the lower unit with a full-size washer/dryer.
The upper unit has LVP flooring, tile in the bathrooms, granite in the kitchen, and stainless appliances, with an inside stackable washer/dryer. Both units share off-street driveway parking with space for two cars, one for each unit. The owner pays water, and the property includes a private front porch.
The property is minutes from Audubon Park and Loyola and Tulane, with walking distance to the streetcar on Carrollton Ave. Flood insurance is reported at approximately $1,700 per year.
The upper unit has LVP flooring, tile in the bathrooms, granite in the kitchen, and stainless appliances, with an inside stackable washer/dryer. Both units share off-street driveway parking with space for two cars, one for each unit. The owner pays water, and the property includes a private front porch.
The property is minutes from Audubon Park and Loyola and Tulane, with walking distance to the streetcar on Carrollton Ave. Flood insurance is reported at approximately $1,700 per year.
Key Highlights
- Duplex built in 1964 with central heating and central air
- Unit 3 is vacant and listed for lease at $2,200/mo
- Lower unit: slate flooring, separate dining room, all 3 bedrooms with no carpet; brand new primary bath shower
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 | $63.4k | $19.80 |
| − Vacancy | −$5.5k | −$1.71 |
| EGI | $57.9k | $18.09 |
| − OpEx | −$17.4k | −$5.43 |
| NOI | $40.5k | $12.66 |
3,200 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$578.9K
$506.5K – $675.3K
NOI $40,520 @ 7.0% cap · market cap 7.72%
Second Best
Apartment 5plus
$532.1K
$465.6K – $620.7K
NOI $37,244 @ 7.0% cap · market cap 7.09%
Theoretical Best
Office A
$813.3K
$711.7K – $948.9K
NOI $56,933 @ 7.0% cap · market cap 10.84%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two separate units feature in-unit laundry, off-street driveway parking, and private outdoor space tied to the lower unit.
Where is this duplex located?
The property is located at 3 NERON Place New Orleans, LA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Duplex built in 1964 with central heating and central air; Unit 3 is vacant and listed for lease at $2,200/mo; Lower unit: slate flooring, separate dining room, all 3 bedrooms with no carpet; brand new primary bath shower
