Duplex with Two Rental
For Sale
$299,900
308-310 10 Cherry Street, Metairie, LA 70005
Duplex with a 3-bedroom rear unit and a 2-bedroom front unit, with current unit rent figures provided.
Days on Market28
Property Features for 308-310 10 Cherry Street
General Information
Standard status
Active
Property subtype
Multi Family Home
Building Details
Building Size
2,051 SF
Year Built
1970
Listing Agency:
Nola Living Realty
(504) 259-7945
Listed By:
Eric Hernandez · License #995689934
(504) 259-7945
Source:
Nolalivingrealty
Added: Jul 3
Changed: Jul 26
Last Checked: Jul 29 at 12:49PM
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 Living Realty
Investment Insights
Based on property information with market context.
This duplex offers two separate rental units configured with a 3-bedroom, 1-bath unit in the back and a 2-bedroom, 1-bath unit in the front.
The front unit is currently paying $500, and the back unit is currently paying $1,650, reflecting two income streams within the same property.
The property is listed for sale at 308-310 10 Cherry Street, Metairie, LA 70005. The seller is a licensed real estate agent.
The front unit is currently paying $500, and the back unit is currently paying $1,650, reflecting two income streams within the same property.
The property is listed for sale at 308-310 10 Cherry Street, Metairie, LA 70005. The seller is a licensed real estate agent.
Key Highlights
- Duplex built in 1970 with two rental units: a 3‑bedroom 1‑bath rear unit and a 2‑bedroom 1‑bath front unit
- Front unit rent is $500 (2 bed/1 bath)
- Rear unit rent is $1650 (3 bed/1 bath)
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $33.2k | $16.20 |
| − Vacancy | −$1.9k | −$0.92 |
| EGI | $31.3k | $15.28 |
| − OpEx | −$9.4k | −$4.58 |
| NOI | $21.9k | $10.69 |
2,051 SF · lease $16.20/SF/yr · vacancy 5.70% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$313.3K
$274.2K – $365.6K
NOI $21,933 @ 7.0% cap · market cap 7.31%
Second Best
Apartment 5plus
$272.7K
$238.6K – $318.1K
NOI $19,087 @ 7.0% cap · market cap 6.36%
Theoretical Best
Office A
$480.3K
$420.3K – $560.4K
NOI $33,621 @ 7.0% cap · market cap 11.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,199
Businesses Nearby
Explore this area
Business Placement
Demographics for 70005, LA
25,431
Population
12,447
Households
2
Avg Household Size
45
Median Age
50%
College-Educated
94%
High-School Grad
4.2 sq mi
ZIP Area
6,055
Density / Sq Mi
$86,048
Median Household Income
$53,258
Median Earnings
$1,160
Median Rent
$381,000
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 - Duplex with a 3-bedroom rear unit and a 2-bedroom front unit, with current unit rent figures provided.
Where is this duplex located?
The property is located at 308-310 10 Cherry Street Metairie, LA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Duplex built in 1970 with two rental units: a 3‑bedroom 1‑bath rear unit and a 2‑bedroom 1‑bath front unit; Front unit rent is $500 (2 bed/1 bath); Rear unit rent is $1650 (3 bed/1 bath)
