Duplex with Cabana and Back
New
For Sale
$675,000
3001 03 Bell St, New Orleans, LA 70119
Historic duplex with bright interiors, porches, a landscaped yard, and flexible cabana space.
Property Size1,860 SF
Price / SF$362.90
Days on Market3
Property Features for 3001 03 Bell St
General Information
Standard status
Active
Size
1,860 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
front porch
back deck
cabana
Building Details
Year Built
1900
Listing Agency:
United Real Estate Partners LLC
(504) 305-4930
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Sep 1
Changed: Sep 3
Last Checked: Sep 2 at 4:47PM
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 United Real Estate Partners LLC
Investment Insights
Based on property information with market context.
Built in 1900, this duplex includes two separately arranged sides with abundant natural light, high-end finishes, and inviting indoor-outdoor areas. A front porch, rear deck, landscaped yard, and cabana create multiple spaces for gathering and relaxation, while the cabana can also accommodate covered parking.
The property is located at 3001 03 Bell St in New Orleans, near Bayou St. John, City Park, Esplanade Avenue, the New Orleans Museum of Art, local restaurants, the Farmers Market, and Jazz Fest. Its setting connects residential living with several established cultural, recreational, and dining destinations.
The property is located at 3001 03 Bell St in New Orleans, near Bayou St. John, City Park, Esplanade Avenue, the New Orleans Museum of Art, local restaurants, the Farmers Market, and Jazz Fest. Its setting connects residential living with several established cultural, recreational, and dining destinations.
Key Highlights
- 1,860‑square‑foot duplex at 3001 03 Bell St, New Orleans, LA 70119
- Built in 1900
- Both sides feature natural light and high‑end finishes
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
$23,552
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
3.49%
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%
$471,040
$471.0K
Cap Rate 7%
$336,457
$336.5K
Cap Rate 9%
$261,689
$261.7K
Market Conditions
NOI Build-Up for 1,860 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
$36.8K $19.80/SF
− Vacancy
−$3.2K −$1.71/SF
EGI
$33.6K $18.09/SF
− OpEx
−$10.1K −$5.43/SF
NOI
$23.6K $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%
$471,040
Cap Rate 7%
$336,457
Cap Rate 9%
$261,689
Alternative Uses
Best Use
Multifamily LT 5
$336.5K
$294.4K – $392.5K
NOI $23,552 @ 7.0% cap · market cap 3.49%
Second Best
Apartment 5plus
$309.3K
$270.6K – $360.8K
NOI $21,648 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$486.7K
$425.9K – $567.8K
NOI $34,069 @ 7.0% cap · market cap 5.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,337
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 - Historic duplex with bright interiors, porches, a landscaped yard, and flexible cabana space.
Where is this duplex located?
The property is located at 3001 03 Bell St New Orleans, LA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 1,860‑square‑foot duplex at 3001 03 Bell St, New Orleans, LA 70119; Built in 1900; Both sides feature natural light and high‑end finishes
