Two-Unit Duplex with Front
3324-26 Banks Street New Orleans, LA 70119
3324-26 Banks Street, New Orleans, LA, 70119
$377,500
For Sale
$377,500
Duplex features two mirrored 2-bedroom, 1-bath units with 11.5-foot ceilings, hardwood floors, and updated windows.
Property Size1,800 SF
Price / SF$209.72
Days on Market221
Property Features for 3324-26 Banks Street
General Information
- Standard status
- Active
- Size
- 1,800 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1940
Listing agency
Compass
(225) 205-8552
Listed by
Micah Loewenthal · License #000026722
(225) 205-8552
Source
Compass
Added: Dec 14, 2025 Updated: Jul 22 at 6:20PM Checked: Jul 22 at 6:20PM
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 Compass
Investment Insights
Based on property information with market context.
This duplex property offers two separate, mirrored living units, each configured as a 2-bedroom, 1-bath layout. The homes feature 11.5-foot ceilings and original hardwood floors, with natural light coming through updated windows along the side of the structure. A front porch adds a welcoming entry to the property.
Recent completed updates include new fencing and two brand new HVAC units inside and out. The roof has also been updated. The property is located on Banks Street near coffee shops, restaurants, and other local amenities.
Each side provides an independent unit layout for flexible living arrangements or rental use within the same property.
Recent completed updates include new fencing and two brand new HVAC units inside and out. The roof has also been updated. The property is located on Banks Street near coffee shops, restaurants, and other local amenities.
Each side provides an independent unit layout for flexible living arrangements or rental use within the same property.
Key Highlights
- Duplex with two mirrored 2‑bedroom, 1‑bath units (4 bedrooms total, 2 full baths)
- 11.5‑foot ceilings and original hardwood floors in both units
- Updated windows help bring in natural light
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 | $35.6k | $19.80 |
| − Vacancy | −$3.1k | −$1.71 |
| EGI | $32.6k | $18.09 |
| − OpEx | −$9.8k | −$5.43 |
| NOI | $22.8k | $12.66 |
1,800 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$325.6K
$284.9K – $379.9K
NOI $22,792 @ 7.0% cap · market cap 6.04%
Second Best
Apartment 5plus
$299.3K
$261.9K – $349.2K
NOI $20,950 @ 7.0% cap · market cap 5.55%
Theoretical Best
Office A
$471.0K
$412.1K – $549.5K
NOI $32,970 @ 7.0% cap · market cap 8.73%
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 - Duplex features two mirrored 2-bedroom, 1-bath units with 11.5-foot ceilings, hardwood floors, and updated windows.
Where is this duplex located?
The property is located at 3324-26 Banks Street New Orleans, LA.
What is the asking price?
The asking price for this property is $377,500.
What are key features of this property?
This property features: Duplex with two mirrored 2‑bedroom, 1‑bath units (4 bedrooms total, 2 full baths); 11.5‑foot ceilings and original hardwood floors in both units; Updated windows help bring in natural light
