Two-Unit Duplex with Separate
New
For Sale
$425,000
324 Adams St, New Orleans, LA 70118
Two residences offer distinct layouts, in-unit laundry, central heating and cooling, and included appliances.
Property Size1,963 SF
Lot Size0.10 Acres
Price / SF$216.51
Days on Market6
Property Features for 324 Adams St
General Information
Standard status
Active
Size
1,963 SF
Total Parking Spaces
2
Lot size
0.10 Acres
Property subtype
Residential Income
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/2BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
(504) 455-0100
Listed By:
Albert Sidhom
(504) 319-7428
Source:
Exprealty
Added: Oct 18
Changed: Oct 21
Last Checked: Oct 21 at 2:15AM
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 KELLER WILLIAMS REALTY 455-0100
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Investment Insights
Based on property information with market context.
This duplex contains two separate residences: a front apartment with 2 bedrooms and 1 bathroom, and a rear apartment with 3 bedrooms and 2 bathrooms. Both feature wood floors, granite countertops, central AC and heat, in-unit laundry, and appliances. The building totals 1,963 square feet and received a new roof in 2025.
The property sits on a 30-by-150-foot lot in Flood Zone X. It has off-street parking for two vehicles, separate electric and gas meters, and one shared water meter. St. Charles Avenue, Maple Street dining, Audubon Park, Tulane University, and Loyola University are within walking distance.
The property sits on a 30-by-150-foot lot in Flood Zone X. It has off-street parking for two vehicles, separate electric and gas meters, and one shared water meter. St. Charles Avenue, Maple Street dining, Audubon Park, Tulane University, and Loyola University are within walking distance.
Key Highlights
- Two‑unit front‑and‑rear configuration: 2 bedrooms and 1 bathroom in front; 3 bedrooms and 2 bathrooms in back
- 1,963‑square‑foot building on a 30’ x 150’ lot in Flood Zone X
- Wood floors, granite countertops, central AC and heat, in‑unit laundry, and appliances in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,856
Cap Rate
5.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$497,120
$497.1K
Cap Rate 7%
$355,086
$355.1K
Cap Rate 9%
$276,178
$276.2K
Market Conditions
NOI Build-Up for 1,963 SF
Gross rent
$38.9K $19.80/SF
− Vacancy
−$3.4K −$1.71/SF
EGI
$35.5K $18.09/SF
− OpEx
−$10.7K −$5.43/SF
NOI
$24.9K $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 Rate 5%
$497,120
Cap Rate 7%
$355,086
Cap Rate 9%
$276,178
Alternative Uses
Best Use
Multifamily LT 5
$355.1K
$310.7K – $414.3K
NOI $24,856 @ 7.0% cap · market cap 5.85%
Second Best
Apartment 5plus
$326.4K
$285.6K – $380.8K
NOI $22,847 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$498.9K
$436.6K – $582.1K
NOI $34,925 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,099
Businesses Nearby
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Business Placement
Demographics for 70118, LA
35,635
Population
15,464
Households
2.3
Avg Household Size
31
Median Age
54%
College-Educated
92%
High-School Grad
4.6 sq mi
ZIP Area
7,747
Density / Sq Mi
$62,665
Median Household Income
$28,199
Median Earnings
$1,257
Median Rent
$451,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences offer distinct layouts, in-unit laundry, central heating and cooling, and included appliances.
Where is this duplex located?
The property is located at 324 Adams St New Orleans, LA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two‑unit front‑and‑rear configuration: 2 bedrooms and 1 bathroom in front; 3 bedrooms and 2 bathrooms in back; 1,963‑square‑foot building on a 30’ x 150’ lot in Flood Zone X; Wood floors, granite countertops, central AC and heat, in‑unit laundry, and appliances in both units
