Duplex with Detached
For Sale
$275,000
314 S Gayoso Street, New Orleans, LA 70119
Two residences include covered outdoor space, hardwood flooring, gated parking, and mature landscaped grounds.
Property Size1,423 SF
Days on Market85
Property Features for 314 S Gayoso Street
General Information
Standard status
Active
Size
1,423 SF
Property subtype
Multi Family Home
Units
Unit Mix
1 x 1BR, 1 x 2BR/2BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
covered porch
high ceilings
hardwood floors
natural light
basement with full bathroom, kitchenette, laundry hookups, workshop, storage
French doors
patio
yard
landscaping
mature fruit trees
gated parking
Building Details
Building Size
1,423 SF
Year Built
2006
Buildings
2
Stories
2
Listing Agency:
Reve, Realtors
(504) 300-0700
Listed By:
Jamie Hughes · License #000058832
(504) 913-0597
Source:
Nolalivingrealty
Added: Jun 11
Changed: Aug 30
Last Checked: Aug 31 at 5:11PM
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 Reve, Realtors
Investment Insights
Based on property information with market context.
This duplex property includes a one-bedroom front cottage and a detached two-story cottage with two bedrooms and two bathrooms. The front residence features a covered porch, high ceilings, hardwood floors, and abundant natural light. Additional basement space includes a full bathroom, kitchenette counter, laundry hookups, workshop, and storage; it is not included in the living-area square footage.
The detached cottage opens through French doors to a landscaped patio and yard. Mature plantings include magnolia, satsuma, fig, Japanese plum, avocado, banana, and other trees and shrubs. Gated parking serves the property. Improvements include roofs installed in 2021, HardyPlank siding, and working shutters.
The property is 2.5 blocks from the Canal Streetcar, 0.5 mile from Trader Joe’s, 0.7 mile from Whole Foods, and 0.5 mile from the Gayoso bridge, providing access to the Lafitte Greenway and a nearby weekly farmers market. Built in 2006.
The detached cottage opens through French doors to a landscaped patio and yard. Mature plantings include magnolia, satsuma, fig, Japanese plum, avocado, banana, and other trees and shrubs. Gated parking serves the property. Improvements include roofs installed in 2021, HardyPlank siding, and working shutters.
The property is 2.5 blocks from the Canal Streetcar, 0.5 mile from Trader Joe’s, 0.7 mile from Whole Foods, and 0.5 mile from the Gayoso bridge, providing access to the Lafitte Greenway and a nearby weekly farmers market. Built in 2006.
Key Highlights
- Front cottage offers 1 bedroom, covered porch, high ceilings, hardwood floors, and basement utility space
- Detached two‑story cottage includes 2B/2B and French‑door access to the patio and yard
- Basement includes a full bathroom, kitchenette counter, laundry hookups, workshop, and storage
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
$18,019
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
6.55%
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%
$360,380
$360.4K
Cap Rate 7%
$257,414
$257.4K
Cap Rate 9%
$200,211
$200.2K
Market Conditions
NOI Build-Up for 1,423 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
$28.2K $19.80/SF
− Vacancy
−$2.4K −$1.71/SF
EGI
$25.7K $18.09/SF
− OpEx
−$7.7K −$5.43/SF
NOI
$18.0K $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%
$360,380
Cap Rate 7%
$257,414
Cap Rate 9%
$200,211
Alternative Uses
Best Use
Multifamily LT 5
$257.4K
$225.2K – $300.3K
NOI $18,019 @ 7.0% cap · market cap 6.55%
Second Best
Apartment 5plus
$236.6K
$207.0K – $276.0K
NOI $16,562 @ 7.0% cap · market cap 6.02%
Theoretical Best
Office A
$372.4K
$325.8K – $434.4K
NOI $26,065 @ 7.0% cap · market cap 9.48%
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
2,476
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two residences include covered outdoor space, hardwood flooring, gated parking, and mature landscaped grounds.
Where is this duplex located?
The property is located at 314 S Gayoso Street New Orleans, LA.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Front cottage offers 1 bedroom, covered porch, high ceilings, hardwood floors, and basement utility space; Detached two‑story cottage includes 2B/2B and French‑door access to the patio and yard; Basement includes a full bathroom, kitchenette counter, laundry hookups, workshop, and storage
