Two-Unit Duplex with Efficiency
New
For Sale
$274,000
300 Pasadena Ave, Metairie, LA 70001
Fully occupied property combines a cottage residence with a separately entered studio and private outdoor areas.
Property Size1,491 SF
Price / SF$183.77
Days on Market6
Property Features for 300 Pasadena Ave
General Information
Standard status
Active
Size
1,491 SF
Property subtype
Residential
Listing Agency:
Homesmart Realty South
(504) 236-1144
Listed By:
Robyn Schmitt · License #995687935
(504) 236-1144
Source:
Exprealty
Added: Aug 17
Changed: Aug 21
Last Checked: Aug 21 at 11:45AM
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 Homesmart Realty South
Investment Insights
Based on property information with market context.
This two-unit duplex at 300 Pasadena Ave includes a three-bedroom, one-bath cottage and an attached efficiency studio. The cottage offers wood flooring in the living room, granite kitchen countertops, white appliances, black cabinetry, a dining area, a fenced yard, covered carport, attached storage, and laundry hookups. The studio has a private entrance, full kitchen, updated bathroom, walk-in closet, stackable washer and dryer, patio, fire pit, and separate fenced yard.
The property is identified as being in Flood Zone X and is currently fully occupied. Improvements include replacement of the cottage plumbing beneath the structure, water heater, piping, and windows 4 - 5 years ago; an AC condenser replacement approximately 5 - 7 years ago; and a new electric panel and breakers around 2010. Tenant occupancy requires a minimum of 24-hour notice for showings.
The property is identified as being in Flood Zone X and is currently fully occupied. Improvements include replacement of the cottage plumbing beneath the structure, water heater, piping, and windows 4 - 5 years ago; an AC condenser replacement approximately 5 - 7 years ago; and a new electric panel and breakers around 2010. Tenant occupancy requires a minimum of 24-hour notice for showings.
Key Highlights
- Two‑unit layout with a 3 Bedroom 1 Bath cottage and attached efficiency studio
- Efficiency includes private entrance, full kitchen, updated full bathroom, walk‑in closet, patio, and fenced yard
- Cottage features granite countertops, wood floors, covered carport, storage room, and laundry hookups
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,944
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.82%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$318,880
$318.9K
Cap Rate 7%
$227,771
$227.8K
Cap Rate 9%
$177,156
$177.2K
Market Conditions
NOI Build-Up for 1,491 SF
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.
Gross rent
$24.2K $16.20/SF
− Vacancy
−$1.4K −$0.92/SF
EGI
$22.8K $15.28/SF
− OpEx
−$6.8K −$4.58/SF
NOI
$15.9K $10.69/SF
Area
Metairie, LA
Vacancy
5.70%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$318,880
Cap Rate 7%
$227,771
Cap Rate 9%
$177,156
Alternative Uses
Best Use
Multifamily LT 5
$227.8K
$199.3K – $265.7K
NOI $15,944 @ 7.0% cap · market cap 5.82%
Second Best
Apartment 5plus
$198.2K
$173.4K – $231.3K
NOI $13,875 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$349.2K
$305.5K – $407.4K
NOI $24,441 @ 7.0% cap · market cap 8.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
677
Businesses Nearby
Explore this area
Business Placement
Demographics for 70001, LA
40,068
Population
19,103
Households
2.1
Avg Household Size
39
Median Age
37%
College-Educated
93%
High-School Grad
6.5 sq mi
ZIP Area
6,164
Density / Sq Mi
$70,187
Median Household Income
$43,662
Median Earnings
$1,145
Median Rent
$313,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Fully occupied property combines a cottage residence with a separately entered studio and private outdoor areas.
Where is this duplex located?
The property is located at 300 Pasadena Ave Metairie, LA.
What is the asking price?
The asking price for this property is $274,000.
What are key features of this property?
This property features: Two‑unit layout with a 3 Bedroom 1 Bath cottage and attached efficiency studio; Efficiency includes private entrance, full kitchen, updated full bathroom, walk‑in closet, patio, and fenced yard; Cottage features granite countertops, wood floors, covered carport, storage room, and laundry hookups
