Updated 2-Unit Duplex
3138 Orleans Avenue New Orleans, LA 70119
3138 Orleans Avenue, New Orleans, LA, 70119
$549,000
For Sale
$549,000
Two renovated 2-bedroom, 2-bath units in a live-in or rental-ready duplex, with updates dated 2017–2023.
Property Size2,538 SF
Price / SF$216.31
Days on Market11
Property Features for 3138 Orleans Avenue
General Information
- Standard status
- Active
- Size
- 2,538 SF
- Property subtype
- Multi Family Home
Building Details
- Year Built
- 1941
Listing agency
Re/Max N. O. Properties
(504) 616-3181
Listed by
Sarah Ackerman
(504) 616-3181
Source
Nolalivingrealty
Added: Jul 13 Updated: Jul 22 at 3:38PM Checked: Jul 22 at 3:38PM
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 Re/Max N. O. Properties
Investment Insights
Based on property information with market context.
This updated duplex offers a flexible live-in or rental setup with two spacious 2-bedroom, 2-bath units. The downstairs unit was renovated in 2017/2018, and the upstairs unit received a full renovation in 2023. Both units present modern finishes and are move-in ready.
Located just steps from Bayou St. John, the property sits in Mid-City and is minutes from City Park. It is also close to the Fair Grounds Race Course and the walking/biking paths along Lafitte Greenway, with Jazz Fest accessible on foot. Local restaurants and coffee shops are nearby.
Each of the two units is independently configured as a 2-bedroom, 2-bath residence, providing clear layout consistency across the property while keeping the overall building as a single investment.
Located just steps from Bayou St. John, the property sits in Mid-City and is minutes from City Park. It is also close to the Fair Grounds Race Course and the walking/biking paths along Lafitte Greenway, with Jazz Fest accessible on foot. Local restaurants and coffee shops are nearby.
Each of the two units is independently configured as a 2-bedroom, 2-bath residence, providing clear layout consistency across the property while keeping the overall building as a single investment.
Key Highlights
- 2,538 SF duplex built in 1941 with two 2‑bedroom, 2‑bath units
- Downstairs unit renovated in 2017/2018
- Upstairs unit fully renovated in 2023
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $50.3k | $19.80 |
| − Vacancy | −$4.3k | −$1.71 |
| EGI | $45.9k | $18.09 |
| − OpEx | −$13.8k | −$5.43 |
| NOI | $32.1k | $12.66 |
2,538 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$459.1K
$401.7K – $535.6K
NOI $32,137 @ 7.0% cap · market cap 5.85%
Second Best
Apartment 5plus
$422.0K
$369.2K – $492.3K
NOI $29,539 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$664.1K
$581.1K – $774.8K
NOI $46,488 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Two renovated 2-bedroom, 2-bath units in a live-in or rental-ready duplex, with updates dated 2017–2023.
Where is this duplex located?
The property is located at 3138 Orleans Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: 2,538 SF duplex built in 1941 with two 2‑bedroom, 2‑bath units; Downstairs unit renovated in 2017/2018; Upstairs unit fully renovated in 2023
