Duplex with Bonus
For Sale
$739,000
3125 Toulouse Street, New Orleans, LA 70119
Flexible owner-occupant property with a leased apartment, private guest suite, and dedicated parking.
Property Size3,335 SF
Price / SF$221.59
Days on Market332
Property Features for 3125 Toulouse Street
General Information
Standard status
Active
Size
3,335 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Units
Unit Mix
1 x 4BR/3BA, 1 x 2BR/2BA, 1 x 1BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Amenities
private backyard
porch
Central Air
Central
1
6
7
in-unit
Asphalt
3
Pillar/Post/Pier
Porch
Building Details
Year Built
2020
Buildings
1
Tenancy
Single
Listing Agency:
eXp Realty, LLC
(504) 206-2714
Listed By:
Andre Cardinale · License #995713214
(504) 206-2714
Source:
Compass
Added: Oct 5, 2025
Changed: Aug 30
Last Checked: Aug 31 at 10:05PM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
Built in 2020, this duplex combines a three-story owner’s residence with two separate first-floor living spaces. The upper residence includes four bedrooms, three full bathrooms, an office, and a lounge, along with high ceilings, abundant natural light, central air, and a primary suite with a walk-in closet and private front porch. The first floor contains a leased two-bedroom, two-bathroom apartment and a separate one-bedroom, one-bathroom suite with its own entrance. A private backyard, garage parking for the owner’s unit, and porches serving both residences add practical outdoor and parking features.
The property is located on Toulouse Street in New Orleans’ Mid-City neighborhood, near restaurants, Bayou St. John, and the streetcar line. Its combination of owner’s quarters, existing rental space, and additional private accommodation supports several living arrangements within one residential income property.
The property is located on Toulouse Street in New Orleans’ Mid-City neighborhood, near restaurants, Bayou St. John, and the streetcar line. Its combination of owner’s quarters, existing rental space, and additional private accommodation supports several living arrangements within one residential income property.
Key Highlights
- 3335 square feet across a duplex with an attached bonus suite
- Owner’s residence spans the second and third floors with 4 bedrooms and 3 full bathrooms
- First‑floor 2‑bedroom, 2‑bathroom unit is currently leased
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
$42,229
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
5.71%
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%
$844,580
$844.6K
Cap Rate 7%
$603,271
$603.3K
Cap Rate 9%
$469,211
$469.2K
Market Conditions
NOI Build-Up for 3,335 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
$66.0K $19.80/SF
− Vacancy
−$5.7K −$1.71/SF
EGI
$60.3K $18.09/SF
− OpEx
−$18.1K −$5.43/SF
NOI
$42.2K $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%
$844,580
Cap Rate 7%
$603,271
Cap Rate 9%
$469,211
Alternative Uses
Best Use
Multifamily LT 5
$603.3K
$527.9K – $703.8K
NOI $42,229 @ 7.0% cap · market cap 5.71%
Second Best
Apartment 5plus
$554.5K
$485.2K – $646.9K
NOI $38,816 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$872.7K
$763.6K – $1.02M
NOI $61,087 @ 7.0% cap · market cap 8.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Single-tenant
Tenancy
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Flexible owner-occupant property with a leased apartment, private guest suite, and dedicated parking.
Where is this duplex located?
The property is located at 3125 Toulouse Street New Orleans, LA.
What is the asking price?
The asking price for this property is $739,000.
What are key features of this property?
This property features: 3335 square feet across a duplex with an attached bonus suite; Owner’s residence spans the second and third floors with 4 bedrooms and 3 full bathrooms; First‑floor 2‑bedroom, 2‑bathroom unit is currently leased
