New Construction
For Sale
$565,000
Pending
3107 Toulouse Street, New Orleans, LA 70119
New construction duplex with open layouts, three en suite bathrooms per unit, and multiple private outdoor spaces.
Property Size2,522 SF
Days on Market131
Property Features for 3107 Toulouse Street
General Information
Standard status
Pending
Size
2,522 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Amenities
Central Air
Central
2
6
Asphalt
Pillar/Post/Pier
HardiPlank Type
Building Details
Year Built
2024
Listing Agency:
Christian Shane Properties
Listed By:
Christian Galvin · License #995718884
(504) 252-0455
Source:
Compass
Added: May 1
Changed: Aug 8
Last Checked: Jul 30 at 1:41PM
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 Christian Shane Properties
Investment Insights
Based on property information with market context.
New construction duplex offering an open floor plan in each unit, with three en suite bathrooms and quartz countertops. Interiors include stylish lighting and a full kitchen appliance package. Outdoor living is provided through front and rear porches and private balconies, with select views toward the downtown skyline mentioned in the property materials. Additional listed features include a fortified roof, surround sound, camera systems, and new home warranties.
Situated in Mid-City, the property is described as just steps from Bayou St. John, the Lafitte Greenway, and the Canal streetcar line, with easy access to neighborhood dining and area attractions.
Designed for either owner-occupancy or investment use, this turnkey duplex is presented as a complete, move-in-ready property.
Situated in Mid-City, the property is described as just steps from Bayou St. John, the Lafitte Greenway, and the Canal streetcar line, with easy access to neighborhood dining and area attractions.
Designed for either owner-occupancy or investment use, this turnkey duplex is presented as a complete, move-in-ready property.
Key Highlights
- New construction duplex built in 2024 with 2 stories
- Each unit offers an open floor plan with a full kitchen appliance package
- Six bedrooms and six full bathrooms total; each unit includes three en suite bathrooms
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
$31,935
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
5.65%
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%
$638,700
$638.7K
Cap Rate 7%
$456,214
$456.2K
Cap Rate 9%
$354,833
$354.8K
Market Conditions
NOI Build-Up for 2,522 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
$49.9K $19.80/SF
− Vacancy
−$4.3K −$1.71/SF
EGI
$45.6K $18.09/SF
− OpEx
−$13.7K −$5.43/SF
NOI
$31.9K $12.66/SF
Area
ZIP 70119
Vacancy
8.64%
Lease Rate
$19.80 /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%
$638,700
Cap Rate 7%
$456,214
Cap Rate 9%
$354,833
Alternative Uses
Best Use
Multifamily LT 5
$456.2K
$399.2K – $532.3K
NOI $31,935 @ 7.0% cap · market cap 5.65%
Second Best
Apartment 5plus
$419.3K
$366.9K – $489.2K
NOI $29,353 @ 7.0% cap · market cap 5.20%
Theoretical Best
Office A
$659.9K
$577.4K – $769.9K
NOI $46,195 @ 7.0% cap · market cap 8.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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 - New construction duplex with open layouts, three en suite bathrooms per unit, and multiple private outdoor spaces.
Where is this duplex located?
The property is located at 3107 Toulouse Street New Orleans, LA.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: New construction duplex built in 2024 with 2 stories; Each unit offers an open floor plan with a full kitchen appliance package; Six bedrooms and six full bathrooms total; each unit includes three en suite bathrooms
