Renovated Two-Unit
For Sale
$299,000
Pending
3122 Dante Street, New Orleans, LA 70118
Two-unit property renovated in 2019, ideal for owner-occupancy.
Property Size1,924 SF
Days on Market123
Property Features for 3122 Dante Street
General Information
Standard status
Pending
Size
1,924 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Amenities
Central Air
Central
1
3
5
Both units
Asphalt
Other
Pillar/Post/Pier, Slab: Traditional
Wood Siding
Porch
Building Details
Year Built
1940
Listing Agency:
Compass
Listed By:
Caroline Mang · License #000071823
(504) 251-0385
Source:
Compass
Added: May 4
Changed: Aug 8
Last Checked: Jul 24 at 3:27PM
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 Compass
Investment Insights
Based on property information with market context.
This two-unit property, renovated in 2019, is suitable for owner-occupancy, allowing rental income to offset a significant portion of mortgage costs. The larger unit features an open living, dining, and kitchen area, complemented by built-ins, hardwood floors, and stainless steel appliances. The primary suite, along with three additional bedrooms and another bathroom, are located downstairs. This unit opens to a spacious backyard that includes a covered concrete patio and a 232 square foot workshop or oversized shed. The upstairs unit is a 632 square foot apartment, rented furnished for $1380 per month. This apartment also features hardwood floors, stainless steel appliances, its own laundry facilities, and access to the backyard. A long driveway provides parking for multiple cars. The property is conveniently located near Uptown, MidCity, Old Jefferson, and Metairie. The property size is 1924 square feet.
Key Highlights
- Two‑unit property ideal for owner‑occupant with rental income potential ($1380/month)
- Totally renovated in 2019
- Larger unit features open living/dining/kitchen area, hardwood floors, stainless appliances, primary suite, and 3 additional bedrooms
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
$24,363
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
8.15%
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%
$487,260
$487.3K
Cap Rate 7%
$348,043
$348.0K
Cap Rate 9%
$270,700
$270.7K
Market Conditions
NOI Build-Up for 1,924 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
$38.1K $19.80/SF
− Vacancy
−$3.3K −$1.71/SF
EGI
$34.8K $18.09/SF
− OpEx
−$10.4K −$5.43/SF
NOI
$24.4K $12.66/SF
Area
New Orleans, LA
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%
$487,260
Cap Rate 7%
$348,043
Cap Rate 9%
$270,700
Alternative Uses
Best Use
Multifamily LT 5
$348.0K
$304.5K – $406.1K
NOI $24,363 @ 7.0% cap · market cap 8.15%
Second Best
Apartment 5plus
$319.9K
$279.9K – $373.2K
NOI $22,393 @ 7.0% cap · market cap 7.49%
Theoretical Best
Office A
$489.0K
$427.9K – $570.5K
NOI $34,231 @ 7.0% cap · market cap 11.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,010
Businesses Nearby
Explore this area
Business Placement
Demographics for 70118, LA
35,635
Population
15,464
Households
2.3
Avg Household Size
31
Median Age
54%
College-Educated
92%
High-School Grad
4.6 sq mi
ZIP Area
7,747
Density / Sq Mi
$62,665
Median Household Income
$28,199
Median Earnings
$1,257
Median Rent
$451,600
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 renovated in 2019, ideal for owner-occupancy.
Where is this duplex located?
The property is located at 3122 Dante Street New Orleans, LA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two‑unit property ideal for owner‑occupant with rental income potential ($1380/month); Totally renovated in 2019; Larger unit features open living/dining/kitchen area, hardwood floors, stainless appliances, primary suite, and 3 additional bedrooms
