Renovated Two-Unit
For Sale
$365,000
3228 30 Toledano St, New Orleans, LA 70125
Two separately metered units offer updated kitchens, baths, central HVAC, and included appliances.
Property Size1,999 SF
Price / SF$182.59
Days on Market10
Property Features for 3228 30 Toledano St
General Information
Standard status
Active
Size
1,999 SF
Property subtype
Multi-Family
Building Details
Year Built
1935
Listing Agency:
Bennette Dukes Realty LLC
(504) 321-1014
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Sep 18
Changed: Sep 26
Last Checked: Sep 26 at 7:09AM
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 Bennette Dukes Realty LLC
Investment Insights
Based on property information with market context.
This duplex contains two residences, each with 3 bedrooms and 2 full baths, within a combined 1,999 square feet. The property underwent a full renovation in 2022, including a replacement roof, HVAC systems, flooring, kitchens, and bathrooms. Central HVAC, natural gas service, and individual utility meters support separate operation of each unit. The sale includes oven/ranges, dishwashers, microwaves, and washer/dryer sets, along with appliances and windows identified as 3 years old.
Located in Broadmoor at 3228-3230 Toledano St, the property provides access to Uptown, Downtown, and the interstate. A transferable termite contract remains active through July 2027 and includes quarterly service.
Located in Broadmoor at 3228-3230 Toledano St, the property provides access to Uptown, Downtown, and the interstate. A transferable termite contract remains active through July 2027 and includes quarterly service.
Key Highlights
- Two units, each with 3 bedrooms and 2 full baths
- 1,999 sq ft combined living area
- Full renovation completed in 2022
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
$25,312
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
6.93%
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%
$506,240
$506.2K
Cap Rate 7%
$361,600
$361.6K
Cap Rate 9%
$281,244
$281.2K
Market Conditions
NOI Build-Up for 1,999 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
$39.6K $19.80/SF
− Vacancy
−$3.4K −$1.71/SF
EGI
$36.2K $18.09/SF
− OpEx
−$10.8K −$5.43/SF
NOI
$25.3K $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%
$506,240
Cap Rate 7%
$361,600
Cap Rate 9%
$281,244
Alternative Uses
Best Use
Multifamily LT 5
$361.6K
$316.4K – $421.9K
NOI $25,312 @ 7.0% cap · market cap 6.93%
Second Best
Apartment 5plus
$332.4K
$290.8K – $387.8K
NOI $23,266 @ 7.0% cap · market cap 6.37%
Theoretical Best
Office A
$508.1K
$444.6K – $592.8K
NOI $35,566 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,692
Businesses Nearby
Explore this area
Business Placement
Demographics for 70125, LA
17,457
Population
7,972
Households
2.2
Avg Household Size
33
Median Age
46%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
7,590
Density / Sq Mi
$58,956
Median Household Income
$39,623
Median Earnings
$1,292
Median Rent
$428,600
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately metered units offer updated kitchens, baths, central HVAC, and included appliances.
Where is this duplex located?
The property is located at 3228 30 Toledano St New Orleans, LA.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Two units, each with 3 bedrooms and 2 full baths; 1,999 sq ft combined living area; Full renovation completed in 2022
