Duplex with Front
For Sale
$490,000
Pending
3 NERON Place, New Orleans, LA 70118
Multifamily, New Orleans, LA
Property Size3,200 SF
Days on Market92
Property Features for 3 NERON Place
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 1, Bathroom 4, Bedroom 4, Bedroom 5, Bathroom 3, Bedroom 2, Bedroom 6
Parking
2
Parking features
Driveway, Off Street
Patio and Porch features
Porch
Standard status
Pending
APN
716306415
Size
3,200 SF
Taxes and HOA fees
Tax Description
sq 320 lot 2 56x90
Legal Description
sq 320 lot 2 56x90
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Multi Units
Water source
Public
Amenities
private front porch
fenced backyard
in-unit washer/dryer
Building Details
Year built
1964
Number of units
2
Building materials
Brick
Architectural style
Other
Listing Agency:
KELLER WILLIAMS REALTY 4550100
(504) 455-0100
Listed By:
Angela Discon · License #000045104
(504) 554-8267
Added: Jul 24
Changed: Oct 23
Last Checked: Oct 23 at 4:06PM
MLS# 2569267
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 3,200-square-foot brick duplex was built in 1964 and has separate upper and lower residences. The lower residence features slate flooring in the living room, dining room, and bedrooms, along with a kitchen finished with granite counters and stainless steel appliances. The upper residence has LVP flooring and a kitchen with matching granite counters and stainless steel appliances. Both residences have tiled bathrooms and indoor laundry; the lower includes a full-size washer and dryer, while the upper has a stackable set. Central heating and multiple central air-conditioning units serve the property.
A front porch and fenced backyard provide outdoor space. The driveway accommodates two off-street vehicles. The property is near Audubon Park, Loyola, and Tulane, with streetcar service on Carrollton Avenue within walking distance. Public water and sewer are available, as is natural gas. The owner pays the water expense.
A front porch and fenced backyard provide outdoor space. The driveway accommodates two off-street vehicles. The property is near Audubon Park, Loyola, and Tulane, with streetcar service on Carrollton Avenue within walking distance. Public water and sewer are available, as is natural gas. The owner pays the water expense.
Key Highlights
- 3,200‑square‑foot brick duplex built in 1964
- Separate upper and lower residences with indoor laundry in each
- Two off‑street driveway parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,520
Cap Rate
8.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$810,400
$810.4K
Cap Rate 7%
$578,857
$578.9K
Cap Rate 9%
$450,222
$450.2K
Market Conditions
NOI Build-Up for 3,200 SF
Gross rent
$63.4K $19.80/SF
− Vacancy
−$5.5K −$1.71/SF
EGI
$57.9K $18.09/SF
− OpEx
−$17.4K −$5.43/SF
NOI
$40.5K $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%
$810,400
Cap Rate 7%
$578,857
Cap Rate 9%
$450,222
Alternative Uses
Best Use
Multifamily LT 5
$578.9K
$506.5K – $675.3K
NOI $40,520 @ 7.0% cap · market cap 8.27%
Second Best
Apartment 5plus
$532.1K
$465.6K – $620.7K
NOI $37,244 @ 7.0% cap · market cap 7.60%
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.
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Location Intelligence
Trade Area within ½ mile
997
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Brick construction, two off-street parking spaces, and indoor laundry serve the property's separate upper and lower residences.
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 $490,000.
What are key features of this property?
This property features: 3,200‑square‑foot brick duplex built in 1964; Separate upper and lower residences with indoor laundry in each; Two off‑street driveway parking spaces
