Renovated
For Sale
$399,000
315 S Gayoso St, New Orleans, LA 70119
Each residence has three bedrooms, a front porch, and its own side yard.
Property Size2,134 SF
Price / SF$186.97
Days on Market14
Property Features for 315 S Gayoso St
General Information
Standard status
Active
Size
2,134 SF
Property subtype
Residential Income
Site & Location
Neighborhood
Bayou St. John
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Amenities
front porch
separated side yards
high ceilings
original mantels
turned wood columns
interior washer and dryer
ample storage
kitchen cabinets
Building Details
Year Renovated
2012
Buildings
1
Listing Agency:
Witry Collective, L.L.C.
(504) 291-2022
Listed By:
Katie Witry · License #995710150
(504) 919-8585
Source:
Exprealty
Added: Oct 13
Changed: Oct 25
Last Checked: Oct 25 at 2:36AM
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 Witry Collective, L.L.C.
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Investment Insights
Based on property information with market context.
This 2,134-square-foot duplex contains two residences, each with three bedrooms and one bathroom. Renovated in 2012, the building retains high ceilings, original mantels, turned wood columns, and historic wooden windows that have since been improved. Wood and vinyl flooring, interior washer and dryer connections, gas service, kitchen cabinetry, and storage are also part of the property. Recent work includes new air conditioning. The 142-foot-deep lot includes a front porch and separate side yards.
The property is between Banks and Canal Streets in MidCity. Bus and streetcar service is available, and Whole Foods and the Lafitte Greenway are nearby.
The property is between Banks and Canal Streets in MidCity. Bus and streetcar service is available, and Whole Foods and the Lafitte Greenway are nearby.
Key Highlights
- Two residences, each with 3 bedrooms and 1 bathroom
- 2,134 square feet on a 142‑foot‑deep lot
- Renovated in 2012; recent improvements include new AC
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,022
Cap Rate
6.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$540,440
$540.4K
Cap Rate 7%
$386,029
$386.0K
Cap Rate 9%
$300,244
$300.2K
Market Conditions
NOI Build-Up for 2,134 SF
Gross rent
$42.3K $19.80/SF
− Vacancy
−$3.7K −$1.71/SF
EGI
$38.6K $18.09/SF
− OpEx
−$11.6K −$5.43/SF
NOI
$27.0K $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 Rate 5%
$540,440
Cap Rate 7%
$386,029
Cap Rate 9%
$300,244
Alternative Uses
Best Use
Multifamily LT 5
$386.0K
$337.8K – $450.4K
NOI $27,022 @ 7.0% cap · market cap 6.77%
Second Best
Apartment 5plus
$354.8K
$310.5K – $414.0K
NOI $24,837 @ 7.0% cap · market cap 6.22%
Theoretical Best
Office A
$558.4K
$488.6K – $651.5K
NOI $39,088 @ 7.0% cap · market cap 9.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Lease Details
2
Residential units
Yes
Utilities to site
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has three bedrooms, a front porch, and its own side yard.
Where is this duplex located?
The property is located at 315 S Gayoso St New Orleans, LA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms and 1 bathroom; 2,134 square feet on a 142‑foot‑deep lot; Renovated in 2012; recent improvements include new AC
