Raised Duplex with Oversized
For Sale
$212,000
3017 19 MUSIC Street New, New Orleans, LA 70122
Two separate residences offer flexible owner-occupant and investment use near central New Orleans destinations.
Property Size1,853 SF
Lot Size0.19 Acres
Days on Market187
Property Features for 3017 19 MUSIC Street New
General Information
Standard status
Active
Size
1,853 SF
Lot size
0.19 Acres
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
Central
Central Air
Porch, Shingle
Building Details
Building Size
1,853 SF
Year Built
1995
Listing Agency:
LATTER & BLUM INC/REALTORS
(504) 231-2004
Listed By:
Chris Smith · License #09641
(504) 231-2004
Source:
Kw
Added: Feb 26
Changed: Aug 31
Last Checked: Aug 31 at 1:00AM
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 LATTER & BLUM INC/REALTORS
Investment Insights
Based on property information with market context.
This raised duplex, built in 1995, contains two distinct units, each configured with 2 bedrooms and 1 full bath. Both residences are described as move-in ready and include tiled flooring, central heat, and central air. Porches and shingle siding contribute to the property’s exterior character.
The property sits in the Saint Roch neighborhood with access to Downtown, the French Quarter, the Marigny, and major New Orleans corridors. The lot measures 53 feet wide by 154 feet deep, providing a substantial outdoor area for a duplex of this configuration.
Separate living spaces support a range of ownership and investment strategies, including occupying one unit while renting the other, as specifically noted in the property information.
The property sits in the Saint Roch neighborhood with access to Downtown, the French Quarter, the Marigny, and major New Orleans corridors. The lot measures 53 feet wide by 154 feet deep, providing a substantial outdoor area for a duplex of this configuration.
Separate living spaces support a range of ownership and investment strategies, including occupying one unit while renting the other, as specifically noted in the property information.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 full bath in each residence
- Raised construction with a 53' wide by 154' deep lot
- Central heat and central air in both units
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
$19,197
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
9.06%
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%
$383,940
$383.9K
Cap Rate 7%
$274,243
$274.2K
Cap Rate 9%
$213,300
$213.3K
Market Conditions
NOI Build-Up for 1,853 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
$30.0K $16.20/SF
− Vacancy
−$2.6K −$1.40/SF
EGI
$27.4K $14.80/SF
− OpEx
−$8.2K −$4.44/SF
NOI
$19.2K $10.36/SF
Area
ZIP 70122
Vacancy
8.64%
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%
$383,940
Cap Rate 7%
$274,243
Cap Rate 9%
$213,300
Alternative Uses
Best Use
Multifamily LT 5
$274.2K
$240.0K – $320.0K
NOI $19,197 @ 7.0% cap · market cap 9.06%
Second Best
Apartment 5plus
$238.2K
$208.4K – $277.9K
NOI $16,675 @ 7.0% cap · market cap 7.87%
Theoretical Best
Office A
$484.9K
$424.3K – $565.7K
NOI $33,941 @ 7.0% cap · market cap 16.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
452
Businesses Nearby
Explore this area
Business Placement
Demographics for 70122, LA
34,986
Population
17,131
Households
2
Avg Household Size
39
Median Age
37%
College-Educated
89%
High-School Grad
6.3 sq mi
ZIP Area
5,553
Density / Sq Mi
$47,613
Median Household Income
$38,248
Median Earnings
$1,196
Median Rent
$274,700
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 separate residences offer flexible owner-occupant and investment use near central New Orleans destinations.
Where is this duplex located?
The property is located at 3017 19 MUSIC Street New New Orleans, LA.
What is the asking price?
The asking price for this property is $212,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 full bath in each residence; Raised construction with a 53' wide by 154' deep lot; Central heat and central air in both units
