Duplex Property with Off-Street
For Sale
$450,000
3420 CLARA Street, New Orleans, LA 70115
Multi-Family, Shot Gun, New Orleans, LA
Property Size1,736 SF
Lot Size0.11 Acres
Price / SF$259.22
Days on Market57
Property Features for 3420 CLARA Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Off Street
Lot features
Regular
Standard status
Active
APN
614333730
Size
1,736 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
SQ 633 LOT 31 30X153/156 3420 CLARA ST A&B
Legal Description
SQ 633 LOT 31 30X153/156 3420 CLARA ST A&B
Utilities
Water source
Public
Building Details
Year built
2008
Floors in Building
1
Number of units
1
Roof type
Asphalt
Architectural style
Other
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
(504) 455-0100
Listed By:
Noah Thomas · License #995715515
(504) 388-6437
Added: Aug 10
Changed: Sep 16
Last Checked: Oct 5 at 11:06AM
MLS# 2571840
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex property contains 1,736 square feet on a 0.1064-acre lot. Built in 2008, the residential asset includes off-street parking, public water service, and an asphalt roof. Its duplex configuration supports residential income use and provides a defined structure for renovation or repositioning plans.
The property is located on Clara Street in New Orleans’ Uptown area, within ZIP Code 70115. The surrounding context includes restaurants, shopping, schools, neighborhood amenities, and access to major New Orleans destinations.
The property is located on Clara Street in New Orleans’ Uptown area, within ZIP Code 70115. The surrounding context includes restaurants, shopping, schools, neighborhood amenities, and access to major New Orleans destinations.
Key Highlights
- Duplex configuration with 1,736 square feet
- 0.1064‑acre lot
- Built in 2008
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
$14,921
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
3.32%
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%
$298,420
$298.4K
Cap Rate 7%
$213,157
$213.2K
Cap Rate 9%
$165,789
$165.8K
Market Conditions
NOI Build-Up for 1,736 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
$23.3K $13.44/SF
− Vacancy
−$2.0K −$1.16/SF
EGI
$21.3K $12.28/SF
− OpEx
−$6.4K −$3.68/SF
NOI
$14.9K $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%
$298,420
Cap Rate 7%
$213,157
Cap Rate 9%
$165,789
Alternative Uses
Best Use
Multifamily LT 5
$213.2K
$186.5K – $248.7K
NOI $14,921 @ 7.0% cap · market cap 3.32%
Second Best
Apartment 5plus
$189.0K
$165.3K – $220.5K
NOI $13,227 @ 7.0% cap · market cap 2.94%
Theoretical Best
Office A
$458.0K
$400.8K – $534.3K
NOI $32,060 @ 7.0% cap · market cap 7.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,820
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
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Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential income property with public water service and an asphalt roof.
Where is this duplex located?
The property is located at 3420 CLARA Street New Orleans, LA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Duplex configuration with 1,736 square feet; 0.1064‑acre lot; Built in 2008
