Residential Income Property with
For Sale
$750,000
304-06 WALNUT Street, New Orleans, LA 70118
Two-story townhouse with separate meters, off-street parking, and renovation potential across from Audubon Park.
Property Size3,590 SF
Lot Size0.08 Acres
Days on Market77
Property Features for 304-06 WALNUT Street
General Information
Standard status
Active
Size
3,590 SF
Lot size
0.08 Acres
Property subtype
Duplex
Site & Location
Neighborhood
Black Pearl
Utilities to Site
Yes
Building Details
Building Size
3,590 SF
Year Built
1926
Buildings
1
Stories
2
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
Listed By:
Sarah Keiffer · License #0995693332
(225) 270-0438
Source:
Ewbank.kw
Added: Aug 9
Changed: Oct 19
Last Checked: Oct 23 at 3:41AM
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 KELLER WILLIAMS REALTY 455-0100
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Investment Insights
Based on property information with market context.
This two-story townhouse includes a basement, off-street parking, and a 30 x 120 lot. The upper levels contain 2 bedrooms and 1 bath, along with a front porch. A partially built-out basement adds 3 bedrooms and 2 baths, creating additional interior space for renovation or reconfiguration. Window units are currently installed, and the property has two separate meters.
The address is across from Audubon Park in New Orleans. The rear yard provides space for outdoor improvements, while the property’s X Flood Zone designation is also noted. The existing layout and separate metering support consideration of a single residence, two condominium units, or an arrangement combining occupancy and rental use, subject to verification of zoning requirements, restrictions, and permitted uses.
The address is across from Audubon Park in New Orleans. The rear yard provides space for outdoor improvements, while the property’s X Flood Zone designation is also noted. The existing layout and separate metering support consideration of a single residence, two condominium units, or an arrangement combining occupancy and rental use, subject to verification of zoning requirements, restrictions, and permitted uses.
Key Highlights
- Two‑story townhouse with basement on a 30 x 120 lot
- Located across from Audubon Park in New Orleans
- Upper levels include 2 bedrooms, 1 bath, and a front porch
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,783
Cap Rate
5.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$835,660
$835.7K
Cap Rate 7%
$596,900
$596.9K
Cap Rate 9%
$464,256
$464.3K
Market Conditions
NOI Build-Up for 3,590 SF
Gross rent
$83.6K $23.28/SF
− Vacancy
−$7.6K −$2.12/SF
EGI
$76.0K $21.16/SF
− OpEx
−$34.2K −$9.52/SF
NOI
$41.8K $11.64/SF
Area
New Orleans, LA
Vacancy
9.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$835,660
Cap Rate 7%
$596,900
Cap Rate 9%
$464,256
Alternative Uses
Best Use
Apartment 5plus
$596.9K
$522.3K – $696.4K
NOI $41,783 @ 7.0% cap · market cap 5.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$912.5K
$798.4K – $1.06M
NOI $63,872 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
654
Businesses Nearby
Explore this area
Business Placement
Demographics for 70118, LA
35,635
Population
15,464
Households
2.3
Avg Household Size
31
Median Age
54%
College-Educated
92%
High-School Grad
4.6 sq mi
ZIP Area
7,747
Density / Sq Mi
$62,665
Median Household Income
$28,199
Median Earnings
$1,257
Median Rent
$451,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Residential income property - Two-story townhouse with separate meters, off-street parking, and renovation potential across from Audubon Park.
Where is this residential income property located?
The property is located at 304-06 WALNUT Street New Orleans, LA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Two‑story townhouse with basement on a 30 x 120 lot; Located across from Audubon Park in New Orleans; Upper levels include 2 bedrooms, 1 bath, and a front porch
