Duplex with Updated
For Sale
$259,000
3100-02 Orleans Ave, New Orleans, LA 70119
Two-unit residential income property with cosmetic improvements and access to nearby trails, transit, shopping, and restaurants.
Property Size1,930 SF
Price / SF$134.20
Days on Market174
Property Features for 3100-02 Orleans Ave
General Information
Standard status
Active
Size
1,930 SF
Property subtype
Multi-Family
Building Details
Year Built
1900
Listing Agency:
Homesmart Realty South
Listed By:
Rhonda Maestri · License #01214
(504) 905-9001
Source:
Fiorellaavenue
Added: Mar 13
Changed: Sep 2
Last Checked: Sep 1 at 9:38PM
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 Homesmart Realty South
Investment Insights
Based on property information with market context.
This duplex contains 1,875 square feet and was built in 1983. Cosmetic updates include new kitchen cabinets, while the property also features window unit cooling, other heat, screened elements, a porch, vinyl siding, and pillar/post/pier construction. Asphalt surfaces are also present.
The property is located at 3100-02 Orleans Avenue in New Orleans, near Bayou St. John and the Lafitte walking and biking trails. Public transportation, shopping, and restaurants are also nearby, adding convenient access to neighborhood amenities.
The property is located at 3100-02 Orleans Avenue in New Orleans, near Bayou St. John and the Lafitte walking and biking trails. Public transportation, shopping, and restaurants are also nearby, adding convenient access to neighborhood amenities.
Key Highlights
- 1,875‑square‑foot duplex built in 1983
- New kitchen cabinets among the cosmetic improvements
- Window unit cooling and other heat
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
$22,463
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
8.67%
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%
$449,260
$449.3K
Cap Rate 7%
$320,900
$320.9K
Cap Rate 9%
$249,589
$249.6K
Market Conditions
NOI Build-Up for 1,930 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
$44.9K $23.28/SF
− Vacancy
−$4.1K −$2.12/SF
EGI
$40.8K $21.16/SF
− OpEx
−$18.4K −$9.52/SF
NOI
$22.5K $11.64/SF
Area
ZIP 70119
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 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%
$449,260
Cap Rate 7%
$320,900
Cap Rate 9%
$249,589
Alternative Uses
Best Use
Multifamily LT 5
$349.1K
$305.5K – $407.3K
NOI $24,439 @ 7.0% cap · market cap 9.44%
Second Best
Apartment 5plus
$320.9K
$280.8K – $374.4K
NOI $22,463 @ 7.0% cap · market cap 8.67%
Theoretical Best
Office A
$505.0K
$441.9K – $589.2K
NOI $35,351 @ 7.0% cap · market cap 13.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,049
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
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-unit residential income property with cosmetic improvements and access to nearby trails, transit, shopping, and restaurants.
Where is this duplex located?
The property is located at 3100-02 Orleans Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: 1,875‑square‑foot duplex built in 1983; New kitchen cabinets among the cosmetic improvements; Window unit cooling and other heat
