Historic Shotgun Duplex with Updated
319-321 Pelican Avenue New Orleans, LA 70114
319-321 Pelican Avenue, New Orleans, LA, 70114
$379,900
For Sale
$379,900
Two-unit historic duplex featuring updated kitchens and baths, high ceilings, and original wood and tile flooring.
Property Size2,349 SF
Price / SF$161.73
Days on Market106
Property Features for 319-321 Pelican Avenue
General Information
- Standard status
- Active
- Size
- 2,349 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1900
Listing agency
Homesmart Realty South
(504) 908-2426
Listed by
Danny Trosclair · License #000004986
(504) 908-2426
Source
Compass
Added: Apr 9 Updated: Jul 23 at 4:35AM Checked: Jul 23 at 4:35AM
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 Homesmart Realty South
Investment Insights
Based on property information with market context.
This historic Algiers Point duplex offers a shotgun-style layout with original wood flooring, large rooms, and 12-foot high ceilings. Each unit includes updated kitchens and baths, with tile flooring and granite counters in the kitchen. Both sides also feature an indoor utility room. Unit “side 319” is a 3-bedroom, 1-full-bath arrangement, while unit “side 321” offers 2 bedrooms and 1 full bath.
The property is located at 319-321 Pelican Avenue in New Orleans. It is under termite contract and is listed in an X flood zone. The duplex is vacant and ready for occupancy.
The property is located at 319-321 Pelican Avenue in New Orleans. It is under termite contract and is listed in an X flood zone. The duplex is vacant and ready for occupancy.
Key Highlights
- Historic 2‑unit Algiers Point duplex built in 1900, 1 story with high ceilings and original flooring elements.
- 319 side offers 3 bedrooms and 1 full bath; 321 side offers 2 bedrooms and 1 full bath.
- Shotgun‑style layout with original wood flooring and tile flooring, plus 12‑ft high ceilings.
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 | $46.5k | $19.80 |
| − Vacancy | −$4.0k | −$1.71 |
| EGI | $42.5k | $18.09 |
| − OpEx | −$12.7k | −$5.43 |
| NOI | $29.7k | $12.66 |
2,349 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$424.9K
$371.8K – $495.7K
NOI $29,744 @ 7.0% cap · market cap 7.83%
Second Best
Apartment 5plus
$390.6K
$341.8K – $455.7K
NOI $27,340 @ 7.0% cap · market cap 7.20%
Theoretical Best
Office A
$597.0K
$522.4K – $696.6K
NOI $41,793 @ 7.0% cap · market cap 11.00%
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-unit historic duplex featuring updated kitchens and baths, high ceilings, and original wood and tile flooring.
Where is this duplex located?
The property is located at 319-321 Pelican Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Historic 2‑unit Algiers Point duplex built in 1900, 1 story with high ceilings and original flooring elements.; 319 side offers 3 bedrooms and 1 full bath; 321 side offers 2 bedrooms and 1 full bath.; Shotgun‑style layout with original wood flooring and tile flooring, plus 12‑ft high ceilings.
