New Construction
For Sale
$325,000
3201 North Miro Street, New Orleans, LA 70117
Two-unit residential property with modern finishes, open living areas, island kitchens, and washer and dryer connections.
Property Size1,884 SF
Price / SF$172.51
Days on Market201
Property Features for 3201 North Miro Street
General Information
Standard status
Active
Size
1,884 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Amenities
Central Air
Central
2
4
5
Asphalt
Pillar/Post/Pier
HardiPlank Type
Building Details
Year Built
2026
Listing Agency:
Fathom Realty LA, LLC
Listed By:
Dominique Delpit · License #995706575
(504) 382-9818
Source:
Compass
Added: Feb 13
Changed: Aug 31
Last Checked: Aug 30 at 8:06AM
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 Fathom Realty LA, LLC
Investment Insights
Based on property information with market context.
Completed in 2026, this 1,884-square-foot duplex contains two separately configured residences: one with 3 bedrooms and 2 bathrooms, and another with 2 bedrooms and 2 bathrooms. Both layouts feature open-concept living spaces, contemporary finishes, ample natural light, and kitchens equipped with center islands, cabinetry, and updated fixtures. The smaller residence includes two full bathrooms, while both units offer generous closet space and washer and dryer connections.
The property is located at 3201 North Miro Street in New Orleans, Louisiana. Construction includes HardiPlank siding, an asphalt surface, pillar/post/pier foundation, and central air conditioning. Energy-efficient new construction features and functional floor plans support comfortable residential use across both units.
The property is located at 3201 North Miro Street in New Orleans, Louisiana. Construction includes HardiPlank siding, an asphalt surface, pillar/post/pier foundation, and central air conditioning. Energy-efficient new construction features and functional floor plans support comfortable residential use across both units.
Key Highlights
- New construction completed in 2026
- 1,884‑square‑foot duplex with two residential units
- Unit mix includes 3BR/2BA and 2BR/2BA layouts
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
$23,856
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
7.34%
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%
$477,120
$477.1K
Cap Rate 7%
$340,800
$340.8K
Cap Rate 9%
$265,067
$265.1K
Market Conditions
NOI Build-Up for 1,884 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
$37.3K $19.80/SF
− Vacancy
−$3.2K −$1.71/SF
EGI
$34.1K $18.09/SF
− OpEx
−$10.2K −$5.43/SF
NOI
$23.9K $12.66/SF
Area
New Orleans, LA
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%
$477,120
Cap Rate 7%
$340,800
Cap Rate 9%
$265,067
Alternative Uses
Best Use
Multifamily LT 5
$340.8K
$298.2K – $397.6K
NOI $23,856 @ 7.0% cap · market cap 7.34%
Second Best
Apartment 5plus
$313.3K
$274.1K – $365.5K
NOI $21,928 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$478.9K
$419.0K – $558.7K
NOI $33,520 @ 7.0% cap · market cap 10.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
426
Businesses Nearby
Explore this area
Business Placement
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
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 - Two-unit residential property with modern finishes, open living areas, island kitchens, and washer and dryer connections.
Where is this duplex located?
The property is located at 3201 North Miro Street New Orleans, LA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: New construction completed in 2026; 1,884‑square‑foot duplex with two residential units; Unit mix includes 3BR/2BA and 2BR/2BA layouts
