Renovated Duplex with Hardwood
New
For Sale
$399,000
3011 13 Annunciation St, New Orleans, LA 70115
Two residential sides offer two-bedroom layouts, hardwood flooring, and a backyard at a New Orleans address.
Property Size1,624 SF
Price / SF$245.69
Days on Market3
Property Features for 3011 13 Annunciation St
General Information
Standard status
Active
Size
1,624 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
A little TLC
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1857
Buildings
1
Construction
shotgun double
Tenancy
Single
Listing Agency:
Nola Homes Co., LLC
(504) 586-8900
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Sep 5
Changed: Sep 6
Last Checked: Sep 7 at 6:58AM
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 Nola Homes Co., LLC
Investment Insights
Based on property information with market context.
This 1,624-square-foot duplex, built in 1857, contains two residential sides with matching layouts of two bedrooms and one full bath each. Hardwood floors add period character, while the owner's side was taken down to the studs and renovated in 2005. The other side remains in its original condition, creating a clear contrast between the two interiors. A spacious backyard provides additional outdoor space.
The property is located at 3011 13 Annunciation St in New Orleans, near the St. Charles, Magazine, and Freret corridor. Commander's Palace and Tipitina's are identified nearby, along with neighborhood amenities. The property is described as eligible for federal and state tax credits for investors and may accommodate owner occupancy or rental use.
The property is located at 3011 13 Annunciation St in New Orleans, near the St. Charles, Magazine, and Freret corridor. Commander's Palace and Tipitina's are identified nearby, along with neighborhood amenities. The property is described as eligible for federal and state tax credits for investors and may accommodate owner occupancy or rental use.
Key Highlights
- 1,624‑square‑foot duplex with two residential sides
- Each side includes 2 bedrooms and 1 full bath
- Owner's side renovated in 2005 after a studs‑out renovation
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
$13,959
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
3.50%
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%
$279,180
$279.2K
Cap Rate 7%
$199,414
$199.4K
Cap Rate 9%
$155,100
$155.1K
Market Conditions
NOI Build-Up for 1,624 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
$21.8K $13.44/SF
− Vacancy
−$1.9K −$1.16/SF
EGI
$19.9K $12.28/SF
− OpEx
−$6.0K −$3.68/SF
NOI
$14.0K $8.60/SF
Area
ZIP 70115
Vacancy
8.64%
Lease Rate
$13.44 /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%
$279,180
Cap Rate 7%
$199,414
Cap Rate 9%
$155,100
Alternative Uses
Best Use
Multifamily LT 5
$199.4K
$174.5K – $232.7K
NOI $13,959 @ 7.0% cap · market cap 3.50%
Second Best
Apartment 5plus
$176.8K
$154.7K – $206.2K
NOI $12,374 @ 7.0% cap · market cap 3.10%
Theoretical Best
Office A
$428.5K
$374.9K – $499.9K
NOI $29,992 @ 7.0% cap · market cap 7.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,346
Businesses Nearby
Explore this area
Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
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 - Two residential sides offer two-bedroom layouts, hardwood flooring, and a backyard at a New Orleans address.
Where is this duplex located?
The property is located at 3011 13 Annunciation St New Orleans, LA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 1,624‑square‑foot duplex with two residential sides; Each side includes 2 bedrooms and 1 full bath; Owner's side renovated in 2005 after a studs‑out renovation
