Raised Duplex with
For Sale
$370,000
3500 35 Baudin Street, New Orleans, LA 70119
Corner property with off-street parking, fenced outdoor space, and updated kitchens and bathrooms.
Property Size1,925 SF
Days on Market131
Property Features for 3500 35 Baudin Street
General Information
Standard status
Active
Size
1,925 SF
Property subtype
Multi Family Home
Additional Details
Multifamily Units
2
Amenities
front porch
back porch
backyard
fenced yard
indoor laundry
Building Details
Building Size
1,925 SF
Year Built
1900
Buildings
1
Stories
1
Listing Agency:
Crescent Sotheby's Intl Realty
(985) 264-6222
Listed By:
Lovelle Blitch · License #912123333
(985) 264-6222
Source:
Nolalivingrealty
Added: Apr 16
Changed: Aug 21
Last Checked: Aug 23 at 12:03PM
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 Crescent Sotheby's Intl Realty
Investment Insights
Based on property information with market context.
Built in 1900, this raised duplex includes two residential sides, each with a kitchen featuring granite countertops and ample cabinetry. Both units offer indoor laundry rooms, refreshed flooring, updated bathrooms, and front and rear porches. The property also includes a fenced backyard and off-street parking. Recent work includes a 2024 insulated attic, a 2021 roof replacement along with deck and fence improvements, and flooring updates completed in 2017 and 2019. HVAC systems and insulated windows were replaced in 2009, when the granite countertops were also installed.
The property sits near the intersection of Tulane Avenue and Banks Street, with access to the University Medical Center complex, LSU Health Sciences Campus, Trader Joe’s, and Downtown New Orleans. The two-unit configuration supports occupancy of one side while leasing the other, or leasing both residences.
The property sits near the intersection of Tulane Avenue and Banks Street, with access to the University Medical Center complex, LSU Health Sciences Campus, Trader Joe’s, and Downtown New Orleans. The two-unit configuration supports occupancy of one side while leasing the other, or leasing both residences.
Key Highlights
- Two‑unit raised duplex built in 1900
- Front and rear porches, fenced backyard, and off‑street parking
- 2021 roof replacement with deck and fence improvements
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
$24,375
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
6.59%
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%
$487,500
$487.5K
Cap Rate 7%
$348,214
$348.2K
Cap Rate 9%
$270,833
$270.8K
Market Conditions
NOI Build-Up for 1,925 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
$38.1K $19.80/SF
− Vacancy
−$3.3K −$1.71/SF
EGI
$34.8K $18.09/SF
− OpEx
−$10.4K −$5.43/SF
NOI
$24.4K $12.66/SF
Area
ZIP 70119
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%
$487,500
Cap Rate 7%
$348,214
Cap Rate 9%
$270,833
Alternative Uses
Best Use
Multifamily LT 5
$348.2K
$304.7K – $406.3K
NOI $24,375 @ 7.0% cap · market cap 6.59%
Second Best
Apartment 5plus
$320.1K
$280.1K – $373.4K
NOI $22,405 @ 7.0% cap · market cap 6.06%
Theoretical Best
Office A
$503.7K
$440.8K – $587.7K
NOI $35,260 @ 7.0% cap · market cap 9.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,093
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
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?
Duplex - Corner property with off-street parking, fenced outdoor space, and updated kitchens and bathrooms.
Where is this duplex located?
The property is located at 3500 35 Baudin Street New Orleans, LA.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: Two‑unit raised duplex built in 1900; Front and rear porches, fenced backyard, and off‑street parking; 2021 roof replacement with deck and fence improvements
