Renovated Duplex with Two
For Sale
$299,900
313-315 Sala Avenue, Westwego, LA 70094
Updated duplex with separate one-bedroom and three-bedroom residences, modern kitchens, laundry features, and private outdoor space.
Property Size1,350 SF
Days on Market42
Property Features for 313-315 Sala Avenue
General Information
Standard status
Active
Size
1,350 SF
Property subtype
Multi Family Home
Building Details
Building Size
1,350 SF
Year Built
1873
Stories
1
Listing Agency:
Compass Westbank
(504) 339-5292
Listed By:
Anthony Grosch · License #995705288
(504) 339-5292
Source:
Nolalivingrealty
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 22 at 7:31AM
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 Westbank
Investment Insights
Based on property information with market context.
This duplex contains two renovated residences with distinct layouts. Unit 315 is configured as a one-bedroom, one-bath home with stainless steel refrigerator, stove, and microwave, granite countertops, laminate flooring, window units, and an included washer and dryer. Unit 313 provides three bedrooms and one bath, along with custom bathroom finishes, a larger backyard, central air and heat, and washer and dryer hookups. Its kitchen includes stainless steel appliances, including a dishwasher, microwave, stove, and refrigerator. The property encompasses 1,350 square feet and was built in 1873. Located at 313-315 Sala Ave in Westwego, the address serves both units within the duplex configuration.
Key Highlights
- Two‑unit duplex with a one‑bedroom, one‑bath unit and a three‑bedroom, one‑bath unit
- Both residences are newly renovated
- 1,350 square feet of property size
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
$14,815
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
4.94%
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%
$296,300
$296.3K
Cap Rate 7%
$211,643
$211.6K
Cap Rate 9%
$164,611
$164.6K
Market Conditions
NOI Build-Up for 1,350 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
$23.2K $17.16/SF
− Vacancy
−$2.0K −$1.48/SF
EGI
$21.2K $15.68/SF
− OpEx
−$6.3K −$4.70/SF
NOI
$14.8K $10.97/SF
Area
Jefferson County, LA
Vacancy
8.64%
Lease Rate
$17.16 /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%
$296,300
Cap Rate 7%
$211,643
Cap Rate 9%
$164,611
Alternative Uses
Best Use
Multifamily LT 5
$211.6K
$185.2K – $246.9K
NOI $14,815 @ 7.0% cap · market cap 4.94%
Second Best
Apartment 5plus
$197.9K
$173.1K – $230.8K
NOI $13,850 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office A
$356.2K
$311.7K – $415.5K
NOI $24,932 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
196
Businesses Nearby
Explore this area
Business Placement
Demographics for 70094, LA
30,638
Population
13,683
Households
2.2
Avg Household Size
40
Median Age
14%
College-Educated
79%
High-School Grad
36.2 sq mi
ZIP Area
846
Density / Sq Mi
$52,657
Median Household Income
$36,079
Median Earnings
$1,172
Median Rent
$154,600
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 - Updated duplex with separate one-bedroom and three-bedroom residences, modern kitchens, laundry features, and private outdoor space.
Where is this duplex located?
The property is located at 313-315 Sala Avenue Westwego, LA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two‑unit duplex with a one‑bedroom, one‑bath unit and a three‑bedroom, one‑bath unit; Both residences are newly renovated; 1,350 square feet of property size
