Triplex With Wraparound
For Sale
$699,000
3350 Jena Street, New Orleans, LA 70125
Three-unit property combines a primary residence with two upper-level rental apartments.
Property Size4,712 SF
Price / SF$148.34
Days on Market208
Property Features for 3350 Jena Street
General Information
Standard status
Active
Size
4,712 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Net Operating Income
$42,930
Units
Unit Mix
1 x 3BR/2BA, 2 x 2BR/1BA
Multifamily Units
3
Additional Details
Cap Rate
6.14%
Amenities
wrap around porch
enclosed backyard
garage with workshop
gazebo
Central Air
Central
2
4
7
1
5
Asphalt
Pillar/Post/Pier
Vinyl Siding, Wood Siding
Building Details
Year Built
1920
Listing Agency:
Compass
(504) 451-3626
Listed By:
Charlene Dodds · License #995706925
(504) 451-3626
Source:
Compass
Added: Feb 5
Changed: Aug 31
Last Checked: Aug 31 at 1:52AM
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 4,712-square-foot triplex, built in 1920, offers a larger first-floor residence with 2,500 square feet of living area. The main level includes three bedrooms, two full baths, living and dining rooms, an office, breakfast nook, kitchen, and pantry. Two additional apartments occupy the upper floor, each with two bedrooms, one bath, a living room, and laundry area.
The property also includes a wraparound porch, enclosed backyard, and a garage with a workshop, plumbing for an additional bathroom, and a tin roof. An attached open-sided gazebo provides additional covered outdoor space. Central air and central heat are included, and a current termite contract is in place. The property is located at 3350 Jena Street in New Orleans.
The property also includes a wraparound porch, enclosed backyard, and a garage with a workshop, plumbing for an additional bathroom, and a tin roof. An attached open-sided gazebo provides additional covered outdoor space. Central air and central heat are included, and a current termite contract is in place. The property is located at 3350 Jena Street in New Orleans.
Key Highlights
- 4,712 SF triplex built in 1920
- First‑floor residence contains 2,500 SF with 3 bedrooms and 2 full baths
- Two upstairs rental units, each with 2 bedrooms, 1 bath, living room, and laundry
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
$59,666
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
8.54%
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%
$1,193,320
$1.2M
Cap Rate 7%
$852,371
$852.4K
Cap Rate 9%
$662,956
$663.0K
Market Conditions
NOI Build-Up for 4,712 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
$93.3K $19.80/SF
− Vacancy
−$8.1K −$1.71/SF
EGI
$85.2K $18.09/SF
− OpEx
−$25.6K −$5.43/SF
NOI
$59.7K $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 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%
$1,193,320
Cap Rate 7%
$852,371
Cap Rate 9%
$662,956
Alternative Uses
Best Use
Multifamily LT 5
$852.4K
$745.8K – $994.4K
NOI $59,666 @ 7.0% cap · market cap 8.54%
Second Best
Apartment 5plus
$783.5K
$685.5K – $914.0K
NOI $54,842 @ 7.0% cap · market cap 7.85%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,834 @ 7.0% cap · market cap 11.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,538
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
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?
Triplex - Three-unit property combines a primary residence with two upper-level rental apartments.
Where is this triplex located?
The property is located at 3350 Jena Street New Orleans, LA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 4,712 SF triplex built in 1920; First‑floor residence contains 2,500 SF with 3 bedrooms and 2 full baths; Two upstairs rental units, each with 2 bedrooms, 1 bath, living room, and laundry
