Modular Duplex with Two Full
325-27 38th Street New Orleans, LA 70124
325-27 38th Street, New Orleans, LA, 70124
$374,900
For Sale
$374,900
Modular duplex built in 2007 offering two 2-bedroom, 2-bath units with appliances and mixed occupancy.
Property Size1,875 SF
Price / SF$199.95
Days on Market101
Property Features for 325-27 38th Street
General Information
- Standard status
- Active
- Size
- 1,875 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 2007
Listing agency
J. Louis Matherne & Associates
(504) 456-9655
Listed by
Susan Dwyer · License #000043281
(504) 456-9655
Source
Compass
Added: Apr 13 Updated: Jul 21 at 5:14AM Checked: Jul 22 at 9:00AM
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 J. Louis Matherne & Associates
Investment Insights
Based on property information with market context.
This modular shotgun-style duplex was built in 2007 and is configured as two separate 2-bedroom, 2-full-bath units. Each side includes a refrigerator, stove, dishwasher, and washer and dryer. One unit is currently occupied by a long-term tenant paying $950 per month, providing immediate income, while the other unit is vacant and was previously rented for $1,200 per month.
The property is located in West Lakeview, just minutes from Lake Pontchartrain, with convenient access to dining, shopping, and recreation along the lakefront, Veterans Boulevard, and the interstate. The property is described as being in an X flood zone, and the buyer is to verify.
For buyers seeking an owner-occupied setup or a two-unit income strategy, the existing duplex layout and appliance package support flexible use of both sides.
The property is located in West Lakeview, just minutes from Lake Pontchartrain, with convenient access to dining, shopping, and recreation along the lakefront, Veterans Boulevard, and the interstate. The property is described as being in an X flood zone, and the buyer is to verify.
For buyers seeking an owner-occupied setup or a two-unit income strategy, the existing duplex layout and appliance package support flexible use of both sides.
Key Highlights
- Modular duplex built in 2007 with two 2‑bedroom, 2‑bath units (4 bedrooms, 4 full baths total)
- Each unit includes major appliances: refrigerator, stove, and dishwasher, plus washer and dryer (in unit)
- Central air and central heating for the property
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 | $37.1k | $19.80 |
| − Vacancy | −$3.2k | −$1.71 |
| EGI | $33.9k | $18.09 |
| − OpEx | −$10.2k | −$5.43 |
| NOI | $23.7k | $12.66 |
1,875 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$339.2K
$296.8K – $395.7K
NOI $23,742 @ 7.0% cap · market cap 6.33%
Second Best
Apartment 5plus
$311.8K
$272.8K – $363.7K
NOI $21,823 @ 7.0% cap · market cap 5.82%
Theoretical Best
Office A
$476.6K
$417.0K – $556.0K
NOI $33,359 @ 7.0% cap · market cap 8.90%
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 - Modular duplex built in 2007 offering two 2-bedroom, 2-bath units with appliances and mixed occupancy.
Where is this duplex located?
The property is located at 325-27 38th Street New Orleans, LA.
What is the asking price?
The asking price for this property is $374,900.
What are key features of this property?
This property features: Modular duplex built in 2007 with two 2‑bedroom, 2‑bath units (4 bedrooms, 4 full baths total); Each unit includes major appliances: refrigerator, stove, and dishwasher, plus washer and dryer (in unit); Central air and central heating for the property
