Two-Unit Cottage
For Sale
$249,000
300 PASADENA Avenue, Metairie, LA 70001
Multifamily, Metairie, LA
Property Size1,491 SF
Price / SF$167
Days on Market86
Property Features for 300 PASADENA Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 3, Bedroom 2, Bathroom 1
Parking features
Off Street
Subdivision
Ponte Vista
Elementary school
StChristopher
Middle school
St Martin's, Rummel
High school
EastJefferson
Directions
https://maps.app.goo.gl/PX4RRjbL2u1SbN1m9
Standard status
Active
APN
0820027057
Size
1,491 SF
Additional Details
Tenant in Place
Yes
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
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Window Unit(s), Central Air
Water source
Public
Amenities
carport
fenced-in yard
private patio
stackable washer/dryer
laundry hookups
Building Details
Year built
1945
Number of units
2
Architectural style
Cottage
Listing Agency:
Homesmart Realty South - Metairie · HomeSmart International
(504) 908-7653
Listed By:
Robyn H Schmitt · License #995687935
(504) 236-1144
Added: Aug 1
Changed: Oct 24
Last Checked: Oct 25 at 11:06AM
MLS# 2568799
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.
Built in 1945, this 1,491-square-foot duplex pairs a three-bedroom, one-bath cottage with an attached efficiency studio. The studio has its own entrance, kitchen, full bathroom, walk-in closet, and patio; the cottage includes a living room, kitchen, dining area, and rear bedroom. Each unit has a fenced outdoor area. A covered carport and attached storage room with laundry hookups serve the cottage, while the studio includes a stackable washer and dryer.
Updates include replacement of plumbing beneath the cottage, its water heater and piping, and windows 4 - 5 years ago. The cottage’s AC condenser was replaced approximately 5 - 7 years ago, and a new electrical panel and breakers replaced the fuses around 2010. The front cottage is tenant occupied, and showings require at least 24 hours’ notice.
Updates include replacement of plumbing beneath the cottage, its water heater and piping, and windows 4 - 5 years ago. The cottage’s AC condenser was replaced approximately 5 - 7 years ago, and a new electrical panel and breakers replaced the fuses around 2010. The front cottage is tenant occupied, and showings require at least 24 hours’ notice.
Key Highlights
- 1,491‑square‑foot duplex with a three‑bedroom cottage and attached efficiency studio
- Studio includes a private entrance, full bathroom, kitchen, walk‑in closet, and patio
- Separate fenced outdoor areas for the cottage and studio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,944
Cap Rate
6.40%
Suggested Prices Based on Cap Rates
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
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 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 6.40%
Second Best
Apartment 5plus
$198.2K
$173.4K – $231.3K
NOI $13,875 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$349.2K
$305.5K – $407.4K
NOI $24,441 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
677
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - A three-bedroom cottage and attached efficiency studio offer separate living areas, private entrances, and fenced outdoor space.
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 $249,000.
What are key features of this property?
This property features: 1,491‑square‑foot duplex with a three‑bedroom cottage and attached efficiency studio; Studio includes a private entrance, full bathroom, kitchen, walk‑in closet, and patio; Separate fenced outdoor areas for the cottage and studio
