Cottage-Style Duplex with
For Sale
$274,000
300 PASADENA Avenue, Metairie, LA 70001
MULTI_FAMILY - Metairie, LA
Property Size1,491 SF
Price / SF$183.77
Days on Market11
Property Features for 300 PASADENA Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Carport, Off Street
Exterior features
Fence
Fencing
Fenced
Subdivision
Ponte Vista
Lot features
Regular
Standard status
Active
APN
0820027057
Size
1,491 SF
Taxes and HOA fees
Tax Description
LOT 1-A SQ 4 PONTE VISTA MAP # 4090
Legal Description
LOT 1-A SQ 4 PONTE VISTA MAP # 4090
Utilities
Heating system
Central
Cooling system
Central Air, Window Unit(s)
Water source
Public
Building Details
Year built
1945
Floors in Building
1
Number of units
2
Roof type
Shingle, Flat
Architectural style
Cottage
Listing Agency:
Homesmart Realty South · HomeSmart International
(504) 908-7653
Listed By:
Robyn Schmitt · License #995687935
(504) 236-1144
Added: Aug 1
Changed: Aug 3
Last Checked: Aug 11 at 8:06PM
MLS# 2568799
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.
Cottage-style duplex in Flood Zone X offering two separate living units: a 3-bedroom, 1-bath front cottage and an attached efficiency studio. The cottage features a living room with wood floors and a large picture window, a kitchen with granite countertops and white appliances with black cabinetry, and a dining area with warm knotty pine walls and durable vinyl flooring. The primary bedroom is positioned at the rear for added privacy. A separate fenced yard, covered carport, and attached storage room with laundry hookups complete the cottage.
The attached efficiency studio has its own private entrance, a kitchen with a full-sized refrigerator, stove, and hood, an updated full bathroom, and a large walk-in closet. Unit amenities include an indoor stackable washer/dryer and a private patio with a fire pit, along with a fenced-in yard.
Built in 1945, the property totals 1,491 square feet and features central heating, central air plus window unit(s) for cooling, public water, and a shingle and flat roof. Exterior features include fencing. Major system updates include plumbing under the cottage replaced (about 4–5 years ago), a water heater with piping and windows (about 4–5 years ago), an AC condenser replacement (about 5–7 years ago), and electrical upgrades around 2010 with a new electric panel and breakers.
The attached efficiency studio has its own private entrance, a kitchen with a full-sized refrigerator, stove, and hood, an updated full bathroom, and a large walk-in closet. Unit amenities include an indoor stackable washer/dryer and a private patio with a fire pit, along with a fenced-in yard.
Built in 1945, the property totals 1,491 square feet and features central heating, central air plus window unit(s) for cooling, public water, and a shingle and flat roof. Exterior features include fencing. Major system updates include plumbing under the cottage replaced (about 4–5 years ago), a water heater with piping and windows (about 4–5 years ago), an AC condenser replacement (about 5–7 years ago), and electrical upgrades around 2010 with a new electric panel and breakers.
Key Highlights
- Two‑unit duplex in Flood Zone X with front cottage and attached efficiency studio
- Tenant occupied; minimum 24‑hour showing notice required
- Front cottage: three bedrooms, one bath, wood floors, and kitchen with granite countertops
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
Lease Details
2
Residential units
100%
Occupancy
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit cottage duplex with an attached efficiency studio, central HVAC, carport parking, and fenced yards; tenant occupied.
Where is this duplex located?
The property is located at 300 PASADENA Avenue 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 duplex in Flood Zone X with front cottage and attached efficiency studio; Tenant occupied; minimum 24‑hour showing notice required; Front cottage: three bedrooms, one bath, wood floors, and kitchen with granite countertops
