Two-Unit Duplex with Modern
For Sale
$364,900
308 10 Riess Pl, Chalmette, LA 70043
Built in 2024 with matching residences, private laundry, and separately metered water service.
Property Size1,812 SF
Price / SF$201.38
Days on Market36
Property Features for 308 10 Riess Pl
General Information
Standard status
Active
Size
1,812 SF
Property subtype
Multi-Family
Building Details
Year Built
2024
Listing Agency:
REVE, REALTORS
(504) 228-3803
Listed By:
Jacques Alfonso · License #995690060
Source:
Dominionplace
Added: Jul 28
Changed: Aug 31
Last Checked: Aug 31 at 7:34PM
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 REVE, REALTORS
Investment Insights
Based on property information with market context.
This 2024-built duplex at 308-10 Riess Place contains two matching 3-bedroom, 2-bathroom residences. Each unit features a kitchen with quartz countertops, shaker-style cabinetry, open shelving, a tiled backsplash, and stainless appliances. Stained concrete flooring runs throughout the interiors, while in-unit laundry adds everyday convenience. Separate water meters provide independent utility measurement for each residence.
The property is located in Chalmette near restaurants, schools, and shopping, with Our Lady of Prompt Succor Church and School two blocks away. The two-unit configuration supports both investment ownership and an owner-occupied arrangement, with each residence offering the same layout and finish package.
The property is located in Chalmette near restaurants, schools, and shopping, with Our Lady of Prompt Succor Church and School two blocks away. The two-unit configuration supports both investment ownership and an owner-occupied arrangement, with each residence offering the same layout and finish package.
Key Highlights
- Two identical 3‑bedroom, 2‑bathroom units
- Built in 2024 at 308‑10 Riess Place
- Quartz counters, shaker cabinets, open shelving, tiled backsplashes, and stainless appliances
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
$19,885
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
5.45%
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%
$397,700
$397.7K
Cap Rate 7%
$284,071
$284.1K
Cap Rate 9%
$220,944
$220.9K
Market Conditions
NOI Build-Up for 1,812 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
$31.1K $17.16/SF
− Vacancy
−$2.7K −$1.48/SF
EGI
$28.4K $15.68/SF
− OpEx
−$8.5K −$4.70/SF
NOI
$19.9K $10.97/SF
Area
St. Bernard County, LA
Vacancy
8.64%
Lease Rate
$17.16 /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%
$397,700
Cap Rate 7%
$284,071
Cap Rate 9%
$220,944
Alternative Uses
Best Use
Multifamily LT 5
$284.1K
$248.6K – $331.4K
NOI $19,885 @ 7.0% cap · market cap 5.45%
Second Best
Apartment 5plus
$265.6K
$232.4K – $309.8K
NOI $18,589 @ 7.0% cap · market cap 5.09%
Theoretical Best
Office A
$478.1K
$418.3K – $557.7K
NOI $33,464 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
752
Businesses Nearby
Explore this area
Business Placement
Demographics for 70043, LA
21,596
Population
8,782
Households
2.5
Avg Household Size
34
Median Age
15%
College-Educated
83%
High-School Grad
9.1 sq mi
ZIP Area
2,373
Density / Sq Mi
$57,065
Median Household Income
$37,969
Median Earnings
$1,091
Median Rent
$203,800
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 - Built in 2024 with matching residences, private laundry, and separately metered water service.
Where is this duplex located?
The property is located at 308 10 Riess Pl Chalmette, LA.
What is the asking price?
The asking price for this property is $364,900.
What are key features of this property?
This property features: Two identical 3‑bedroom, 2‑bathroom units; Built in 2024 at 308‑10 Riess Place; Quartz counters, shaker cabinets, open shelving, tiled backsplashes, and stainless appliances
