Two-Unit Duplex with
For Sale
$579,000
300 /302 S Scott St, New Orleans, LA 70119
Tenant-occupied duplex with separate utilities, in-unit laundry, storage space, and off-street parking.
Property Size2,875 SF
Price / SF$201.39
Days on Market43
Property Features for 300 /302 S Scott St
General Information
Standard status
Active
Size
2,875 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
laundry rooms
storage shed
Building Details
Year Built
1919
Buildings
1
Tenancy
Multi
Listing Agency:
Fortuna Real Estate LLC
(504) 914-3585
Listed By:
Timothy Kingsmill
Source:
Dominionplace
Added: Jul 21
Changed: Aug 30
Last Checked: Aug 31 at 7:34PM
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 Fortuna Real Estate LLC
Investment Insights
Based on property information with market context.
Built in 1919, this New Orleans duplex contains two residential units, each configured with 3 bedrooms and 2 bathrooms. Hardwood flooring, large windows, and strong natural light define the interiors. Each unit includes a dedicated laundry room with a washer and dryer, while separate water and electric meters support independent utility management. A storage shed and two off-street parking spaces are also included.
Both units are currently occupied. The upstairs lease ends at the end of May, and the downstairs lease ends at the end of June. The layout supports continued rental use or an owner-occupant arrangement, with the opportunity to reside in one unit while leasing the other. The property is located at 300/302 S Scott St in New Orleans, Louisiana.
Both units are currently occupied. The upstairs lease ends at the end of May, and the downstairs lease ends at the end of June. The layout supports continued rental use or an owner-occupant arrangement, with the opportunity to reside in one unit while leasing the other. The property is located at 300/302 S Scott St in New Orleans, Louisiana.
Key Highlights
- Two‑unit duplex with 3 bedrooms and 2 bathrooms in each unit
- Built in 1919 with hardwood floors and large windows
- Separate water and electric meters for each unit
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
$36,405
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
6.29%
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%
$728,100
$728.1K
Cap Rate 7%
$520,071
$520.1K
Cap Rate 9%
$404,500
$404.5K
Market Conditions
NOI Build-Up for 2,875 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
$56.9K $19.80/SF
− Vacancy
−$4.9K −$1.71/SF
EGI
$52.0K $18.09/SF
− OpEx
−$15.6K −$5.43/SF
NOI
$36.4K $12.66/SF
Area
ZIP 70119
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 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%
$728,100
Cap Rate 7%
$520,071
Cap Rate 9%
$404,500
Alternative Uses
Best Use
Multifamily LT 5
$520.1K
$455.1K – $606.8K
NOI $36,405 @ 7.0% cap · market cap 6.29%
Second Best
Apartment 5plus
$478.0K
$418.3K – $557.7K
NOI $33,462 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$752.3K
$658.3K – $877.7K
NOI $52,661 @ 7.0% cap · market cap 9.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,196
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
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 - Tenant-occupied duplex with separate utilities, in-unit laundry, storage space, and off-street parking.
Where is this duplex located?
The property is located at 300 /302 S Scott St New Orleans, LA.
What is the asking price?
The asking price for this property is $579,000.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms and 2 bathrooms in each unit; Built in 1919 with hardwood floors and large windows; Separate water and electric meters for each unit
