Two-Unit Duplex with New A/C
For Sale
$450,000
321 32 Harney St, New Orleans, LA 70124
Two-bedroom residences feature private outdoor space, individual driveways, open layouts, and dedicated storage.
Property Size2,200 SF
Price / SF$204.55
Days on Market38
Property Features for 321 32 Harney St
General Information
Standard status
Active
Size
2,200 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
private backyard
driveway
storage
open floor plan
air conditioning
Building Details
Year Built
2007
Listing Agency:
Ethel Kidd Real Estate, L.L.C.
(504) 442-9788
Listed By:
Mary Catherine Minvielle · License #995698045
Source:
Dominionplace
Added: Jul 26
Changed: Aug 29
Last Checked: Aug 31 at 7:11PM
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 Ethel Kidd Real Estate, L.L.C.
Investment Insights
Based on property information with market context.
This duplex contains two separate residences within a 2,200-square-foot property built in 2007. Each unit includes two bedrooms, one bathroom, an open floor plan, dedicated storage, a private backyard, and its own driveway. New A/C units were installed in 2025, adding a recent mechanical improvement to both sides.
The property is located at 321 32 Harney St in New Orleans, Louisiana, with a 70124 ZIP code. Its two-unit configuration and matching residential layouts provide a consistent physical setup across the building, while the private exterior areas and separate driveways distinguish each residence.
The property is located at 321 32 Harney St in New Orleans, Louisiana, with a 70124 ZIP code. Its two-unit configuration and matching residential layouts provide a consistent physical setup across the building, while the private exterior areas and separate driveways distinguish each residence.
Key Highlights
- Two‑unit duplex with 2,200 square feet of property
- Each unit offers 2 bedrooms and 1 bathroom
- Private backyard and individual driveway for each unit
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
$27,857
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
6.19%
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%
$557,140
$557.1K
Cap Rate 7%
$397,957
$398.0K
Cap Rate 9%
$309,522
$309.5K
Market Conditions
NOI Build-Up for 2,200 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
$43.6K $19.80/SF
− Vacancy
−$3.8K −$1.71/SF
EGI
$39.8K $18.09/SF
− OpEx
−$11.9K −$5.43/SF
NOI
$27.9K $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%
$557,140
Cap Rate 7%
$397,957
Cap Rate 9%
$309,522
Alternative Uses
Best Use
Multifamily LT 5
$398.0K
$348.2K – $464.3K
NOI $27,857 @ 7.0% cap · market cap 6.19%
Second Best
Apartment 5plus
$365.8K
$320.1K – $426.8K
NOI $25,605 @ 7.0% cap · market cap 5.69%
Theoretical Best
Office A
$559.2K
$489.3K – $652.4K
NOI $39,142 @ 7.0% cap · market cap 8.70%
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
774
Businesses Nearby
Explore this area
Business Placement
Demographics for 70124, LA
22,777
Population
8,919
Households
2.6
Avg Household Size
37
Median Age
70%
College-Educated
98%
High-School Grad
6.7 sq mi
ZIP Area
3,400
Density / Sq Mi
$121,318
Median Household Income
$66,323
Median Earnings
$1,752
Median Rent
$577,800
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-bedroom residences feature private outdoor space, individual driveways, open layouts, and dedicated storage.
Where is this duplex located?
The property is located at 321 32 Harney St New Orleans, LA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,200 square feet of property; Each unit offers 2 bedrooms and 1 bathroom; Private backyard and individual driveway for each unit
