New Construction
For Sale
$350,000
3109 09 Metropolitan Street, New Orleans, LA 70126
Each residence includes three bedrooms, two bathrooms, a kitchen island, recessed lighting, and included appliances.
Property Size2,038 SF
Price / SF$171.74
Days on Market94
Property Features for 3109 09 Metropolitan Street
General Information
Standard status
Active
Size
2,038 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Building Details
Buildings
1
Listing Agency:
WEICHERT, REALTORS - LaBranch & Associates
(504) 248-9061
Listed By:
Latoya Campbell · License #995716078
(504) 248-9061
Source:
Exprealty
Added: Jun 1
Changed: Aug 31
Last Checked: Aug 31 at 8:04PM
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 WEICHERT, REALTORS - LaBranch & Associates
Investment Insights
Based on property information with market context.
This new construction duplex contains two residences, with each side offering 3 bedrooms and 2 bathrooms. Interior features include contemporary bathroom fixtures, an island-centered kitchen, recessed lighting in the living areas, and appliances included with the property.
The two-unit layout provides separate residences within one property. The address is 3109 09 Metropolitan Street in New Orleans, Louisiana 70126.
The two-unit layout provides separate residences within one property. The address is 3109 09 Metropolitan Street in New Orleans, Louisiana 70126.
Key Highlights
- New construction duplex with two separate residences
- Each side has 3 bedrooms and 2 bathrooms
- Kitchens include islands for dining and everyday use
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
$16,651
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
4.76%
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%
$333,020
$333.0K
Cap Rate 7%
$237,871
$237.9K
Cap Rate 9%
$185,011
$185.0K
Market Conditions
NOI Build-Up for 2,038 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
$26.2K $12.84/SF
− Vacancy
−$2.4K −$1.17/SF
EGI
$23.8K $11.67/SF
− OpEx
−$7.1K −$3.50/SF
NOI
$16.7K $8.17/SF
Area
ZIP 70126
Vacancy
9.10%
Lease Rate
$12.84 /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%
$333,020
Cap Rate 7%
$237,871
Cap Rate 9%
$185,011
Alternative Uses
Best Use
Multifamily LT 5
$237.9K
$208.1K – $277.5K
NOI $16,651 @ 7.0% cap · market cap 4.76%
Second Best
Apartment 5plus
$229.3K
$200.6K – $267.5K
NOI $16,050 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$534.5K
$467.7K – $623.6K
NOI $37,418 @ 7.0% cap · market cap 10.69%
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
254
Businesses Nearby
Explore this area
Business Placement
Demographics for 70126, LA
30,397
Population
12,686
Households
2.4
Avg Household Size
33
Median Age
24%
College-Educated
87%
High-School Grad
12.1 sq mi
ZIP Area
2,512
Density / Sq Mi
$38,229
Median Household Income
$29,510
Median Earnings
$1,118
Median Rent
$187,300
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 - Each residence includes three bedrooms, two bathrooms, a kitchen island, recessed lighting, and included appliances.
Where is this duplex located?
The property is located at 3109 09 Metropolitan Street New Orleans, LA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: New construction duplex with two separate residences; Each side has 3 bedrooms and 2 bathrooms; Kitchens include islands for dining and everyday use
