Modern Two-Unit
For Sale
$265,000
3320 22 Third St, New Orleans, LA 70125
Two residential units feature contemporary finishes, central air and heat, and open layouts suited to rental or owner occupancy.
Property Size1,750 SF
Price / SF$151.43
Days on Market64
Property Features for 3320 22 Third St
General Information
Standard status
Active
Size
1,750 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Gross Income
$35,400
Building Details
Year Built
2008
Construction
double shotgun
Listing Agency:
Tuxor Realty
(713) 893-5580
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Aug 17
Changed: Oct 15
Last Checked: Oct 19 at 7:06AM
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 Tuxor Realty
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Investment Insights
Based on property information with market context.
This duplex at 3320-22 3rd Street contains two three-bedroom, two-bath units totaling 1,750 square feet. Each residence has an open layout with luxury vinyl plank flooring, granite countertops, tiled bathrooms, and central air and heat. The property’s double-shotgun configuration provides separate living spaces within a modern residential design.
Located in New Orleans, the property offers access to shopping, dining, schools, and major thoroughfares. Its two-unit layout supports continued residential rental use or an owner-occupant arrangement with a separate unit. The address is 3320-22 3rd Street, New Orleans, LA 70125.
Located in New Orleans, the property offers access to shopping, dining, schools, and major thoroughfares. Its two-unit layout supports continued residential rental use or an owner-occupant arrangement with a separate unit. The address is 3320-22 3rd Street, New Orleans, LA 70125.
Key Highlights
- Two 3‑bedroom, 2‑bath residential units
- 1,750 square feet across the duplex
- Luxury vinyl plank flooring, granite countertops, and tile bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,159
Cap Rate
8.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$443,180
$443.2K
Cap Rate 7%
$316,557
$316.6K
Cap Rate 9%
$246,211
$246.2K
Market Conditions
NOI Build-Up for 1,750 SF
Gross rent
$34.7K $19.80/SF
− Vacancy
−$3.0K −$1.71/SF
EGI
$31.7K $18.09/SF
− OpEx
−$9.5K −$5.43/SF
NOI
$22.2K $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%
$443,180
Cap Rate 7%
$316,557
Cap Rate 9%
$246,211
Alternative Uses
Best Use
Multifamily LT 5
$316.6K
$277.0K – $369.3K
NOI $22,159 @ 7.0% cap · market cap 8.36%
Second Best
Apartment 5plus
$291.0K
$254.6K – $339.5K
NOI $20,368 @ 7.0% cap · market cap 7.69%
Theoretical Best
Office A
$444.8K
$389.2K – $518.9K
NOI $31,135 @ 7.0% cap · market cap 11.75%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,467
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
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature contemporary finishes, central air and heat, and open layouts suited to rental or owner occupancy.
Where is this duplex located?
The property is located at 3320 22 Third St New Orleans, LA.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Two 3‑bedroom, 2‑bath residential units; 1,750 square feet across the duplex; Luxury vinyl plank flooring, granite countertops, and tile bathrooms
