Historic Duplex with
3423 Annunciation Street New Orleans, LA 70115
3423 Annunciation Street, New Orleans, LA, 70115
$309,900
For Sale
$309,900
Built circa 1907, this duplex offers two units, four bedrooms, and an oversized backyard workshop on a 8,601 sq. ft. lot.
Property Size1,970 SF
Lot Size0.20 Acres
Price / SF$157.31
Days on Market94
Property Features for 3423 Annunciation Street
General Information
- Standard status
- Active
- Size
- 1,970 SF
- Lot size
- 0.20 Acres
- Property subtype
- Multi Family Home
Building Details
- Year Built
- 1907
Listing agency
Z Realty LLC
(504) 343-2506
Listed by
Larry Ziegel · License #000000120
(504) 343-2506
Source
Nolalivingrealty
Added: Apr 20 Updated: Jul 21 at 8:09PM Checked: Jul 22 at 5:55AM
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 Z Realty LLC
Investment Insights
Based on property information with market context.
This historic duplex was built around 1907 and features two separate units totaling approximately 1,970 square feet of living space. The property includes four bedrooms and two bathrooms, with a configuration suited to a live-in/rent-out approach. An oversized backyard also includes a large workshop, providing valuable outdoor and workspace utility.
The home is located in New Orleans’ East Riverside neighborhood near shops and eateries on Magazine Street.
The lot measures approximately 8,601 square feet, offering additional space alongside the main residential structure and workshop area.
The home is located in New Orleans’ East Riverside neighborhood near shops and eateries on Magazine Street.
The lot measures approximately 8,601 square feet, offering additional space alongside the main residential structure and workshop area.
Key Highlights
- Built circa 1907, classic New Orleans double duplex with two units
- Approx. 1,970 sq. ft. of living space across both units
- 4 bedrooms and 2 bathrooms total in the duplex
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 | $26.5k | $13.44 |
| − Vacancy | −$2.3k | −$1.16 |
| EGI | $24.2k | $12.28 |
| − OpEx | −$7.3k | −$3.68 |
| NOI | $16.9k | $8.60 |
1,970 SF · lease $13.44/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$241.9K
$211.7K – $282.2K
NOI $16,932 @ 7.0% cap · market cap 5.46%
Second Best
Apartment 5plus
$214.4K
$187.6K – $250.2K
NOI $15,010 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$519.7K
$454.8K – $606.4K
NOI $36,382 @ 7.0% cap · market cap 11.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Built circa 1907, this duplex offers two units, four bedrooms, and an oversized backyard workshop on a 8,601 sq. ft. lot.
Where is this duplex located?
The property is located at 3423 Annunciation Street New Orleans, LA.
What is the asking price?
The asking price for this property is $309,900.
What are key features of this property?
This property features: Built circa 1907, classic New Orleans double duplex with two units; Approx. 1,970 sq. ft. of living space across both units; 4 bedrooms and 2 bathrooms total in the duplex
