Shotgun-Style
New
For Sale
$360,000
3313 15 Dryades St, New Orleans, LA 70115
Built in 1945, the property sits three blocks from St. Charles Avenue.
Property Size1,991 SF
Price / SF$180.81
Days on Market2
Property Features for 3313 15 Dryades St
General Information
Standard status
Active
Size
1,991 SF
Property subtype
Multi-Family
Building Details
Year Built
1945
Construction
shotgun-style
Listing Agency:
TJones & Co, LLC
Listed By:
Chantel Tate · License #995685787
(504) 503-3816
Source:
Dominionplace
Added: Sep 9
Last Checked: Sep 9 at 3:44PM
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 contains 1,991 square feet and was built in 1945. The property is described as a 3-bedroom, 1-bath double with a shotgun-style layout, providing a distinct residential configuration within the property’s existing improvements.
Located at 3313 15 Dryades St in New Orleans, the property is approximately three blocks from St. Charles Avenue. Its residential income classification and duplex designation support consideration for ownership or investment use, while the existing bedroom and bath count provide a defined baseline for evaluating the asset.
Located at 3313 15 Dryades St in New Orleans, the property is approximately three blocks from St. Charles Avenue. Its residential income classification and duplex designation support consideration for ownership or investment use, while the existing bedroom and bath count provide a defined baseline for evaluating the asset.
Key Highlights
- Duplex property with 1,991 square feet
- Built in 1945
- 3‑bedroom, 1‑bath configuration
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Built in 1945, the property sits three blocks from St. Charles Avenue.
Where is this duplex located?
The property is located at 3313 15 Dryades St 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 property with 1,991 square feet; Built in 1945; 3‑bedroom, 1‑bath configuration
