Duplex Property with
For Sale
$360,000
3313-15 Dryades Street, New Orleans, LA 70115
Three-bedroom, one-bath configuration with central air and window units.
Property Size1,991 SF
Price / SF$180.81
Days on Market160
Property Features for 3313-15 Dryades Street
General Information
Standard status
Active
Size
1,991 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Amenities
Central Air, Window Unit(s)
Central
1
2
6
Handicap Interior Prov
Inside
Asphalt
Other
Pillar/Post/Pier
Porch
Building Details
Year Built
1945
Listing Agency:
TJones & Co, LLC
Listed By:
Chantel Tate · License #995685787
(504) 503-3816
Source:
Compass
Added: Mar 27
Changed: Aug 31
Last Checked: Sep 1 at 10:50PM
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 TJones & Co, LLC
Investment Insights
Based on property information with market context.
This duplex property at 3313-15 Dryades Street in New Orleans presents a three-bedroom, one-bath residential configuration with a practical interior layout. The home includes central air and window units, along with interior handicap provisions. Exterior features include an asphalt surface, pillar/post/pier construction, and a porch. Built in 1945, the property offers a clearly defined two-unit format for residential ownership or investment use.
Key Highlights
- Duplex configuration with 3 bedrooms and 1 bath
- Central air and window units
- Interior handicap provisions
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
$17,113
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
4.75%
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%
$342,260
$342.3K
Cap Rate 7%
$244,471
$244.5K
Cap Rate 9%
$190,144
$190.1K
Market Conditions
NOI Build-Up for 1,991 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
$26.8K $13.44/SF
− Vacancy
−$2.3K −$1.16/SF
EGI
$24.4K $12.28/SF
− OpEx
−$7.3K −$3.68/SF
NOI
$17.1K $8.60/SF
Area
ZIP 70115
Vacancy
8.64%
Lease Rate
$13.44 /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%
$342,260
Cap Rate 7%
$244,471
Cap Rate 9%
$190,144
Alternative Uses
Best Use
Multifamily LT 5
$244.5K
$213.9K – $285.2K
NOI $17,113 @ 7.0% cap · market cap 4.75%
Second Best
Apartment 5plus
$216.7K
$189.6K – $252.8K
NOI $15,170 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$525.3K
$459.6K – $612.8K
NOI $36,770 @ 7.0% cap · market cap 10.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,878
Businesses Nearby
Explore this area
Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Three-bedroom, one-bath configuration with central air and window units.
Where is this duplex located?
The property is located at 3313-15 Dryades Street New Orleans, LA.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Duplex configuration with 3 bedrooms and 1 bath; Central air and window units; Interior handicap provisions
