Historic Duplex with
For Sale
$399,000
Pending
3106 UPPERLINE Street, New Orleans, LA 70125
Multi-Family, Townhouse, New Orleans, LA
Property Size3,003 SF
Days on Market48
Property Features for 3106 UPPERLINE Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Off Street, Driveway
Exterior features
Balcony, Fence
Fencing
Fenced
Lot features
Regular
Subdivision
Broadmoor
Standard status
Pending
APN
614343415
Size
3,003 SF
Taxes and HOA fees
Tax Description
Lot 20, Pt Lot 21, Square709, Sixth Municipal District
Legal Description
Lot 20, Pt Lot 21, Square709, Sixth Municipal District
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1947
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
RE/MAX Synergy · RE/MAX International
(985) 307-1367
Listed By:
Jeffery Melancon
(985) 307-1367
Added: Jul 7
Changed: Aug 19
Last Checked: Aug 23 at 6:06PM
MLS# 2563027
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,003-square-foot duplex, built in 1947, combines period architectural details with updated interior features. The property includes hardwood flooring, crown molding, high ceilings, a painted brick fireplace mantle, and arched French doors. A kitchen is equipped with wood cabinetry, dark stone countertops, and stainless steel appliances, while the bathroom includes a modern vanity and basketweave tile flooring. Central heating and central air conditioning serve the property.
Exterior features include a balcony, substantial brick front columns, fencing, and a long side driveway providing off-street parking. The roof is shingle, and the property is served by public water.
Exterior features include a balcony, substantial brick front columns, fencing, and a long side driveway providing off-street parking. The roof is shingle, and the property is served by public water.
Key Highlights
- 3,003‑square‑foot duplex built in 1947
- Hardwood floors, crown molding, high ceilings, and arched French doors
- Kitchen with wood cabinetry, dark stone countertops, and stainless steel 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
$34,951
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
8.76%
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%
$699,020
$699.0K
Cap Rate 7%
$499,300
$499.3K
Cap Rate 9%
$388,344
$388.3K
Market Conditions
NOI Build-Up for 3,003 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
$69.9K $23.28/SF
− Vacancy
−$6.4K −$2.12/SF
EGI
$63.5K $21.16/SF
− OpEx
−$28.6K −$9.52/SF
NOI
$35.0K $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 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%
$699,020
Cap Rate 7%
$499,300
Cap Rate 9%
$388,344
Alternative Uses
Best Use
Multifamily LT 5
$543.2K
$475.3K – $633.8K
NOI $38,025 @ 7.0% cap · market cap 9.53%
Second Best
Apartment 5plus
$499.3K
$436.9K – $582.5K
NOI $34,951 @ 7.0% cap · market cap 8.76%
Theoretical Best
Office A
$763.3K
$667.9K – $890.5K
NOI $53,428 @ 7.0% cap · market cap 13.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,632
Businesses Nearby
Explore this area
Business Placement
Demographics for 70125, LA
17,457
Population
7,972
Households
2.2
Avg Household Size
33
Median Age
46%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
7,590
Density / Sq Mi
$58,956
Median Household Income
$39,623
Median Earnings
$1,292
Median Rent
$428,600
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 property featuring hardwood floors, central systems, a side driveway, and a fenced exterior.
Where is this duplex located?
The property is located at 3106 UPPERLINE Street New Orleans, LA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 3,003‑square‑foot duplex built in 1947; Hardwood floors, crown molding, high ceilings, and arched French doors; Kitchen with wood cabinetry, dark stone countertops, and stainless steel appliances
