New Construction Duplex with Private
New
For Sale
$399,000
3508-10 Evangeline Dr, Chalmette, LA 70043
Two residences provide separate utilities, individual driveways, and open-concept living areas.
Property Size2,258 SF
Price / SF$176.71
Days on Market6
Property Features for 3508-10 Evangeline Dr
General Information
Standard status
Active
Size
2,258 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
2026
Buildings
1
Listing Agency:
Crescent Sotheby's International Realty
(504) 944-3605
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Sep 5
Changed: Sep 10
Last Checked: Sep 10 at 5:15AM
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 International Realty
Investment Insights
Based on property information with market context.
This newly built duplex at 3508-10 Evangeline Dr includes 2,258 square feet with two separately arranged residences. Each side contains 3 bedrooms and 2 full baths, along with an open-concept layout, high ceilings, generous living space, and a primary suite with a private bath and walk-in closet. Separate utilities and private driveways support independent operation, while the FORTIFIED roof and Flood Zone X designation are additional property features.
The property is within walking distance of Sidney D. Torres Memorial Park and near restaurants, banks, shopping, Walmart, and other daily services. New Orleans is approximately 15 minutes away. The duplex is suited to an owner-occupant arrangement or an investor seeking to occupy one residence and rent the other.
The property is within walking distance of Sidney D. Torres Memorial Park and near restaurants, banks, shopping, Walmart, and other daily services. New Orleans is approximately 15 minutes away. The duplex is suited to an owner-occupant arrangement or an investor seeking to occupy one residence and rent the other.
Key Highlights
- Two residences with 3 bedrooms and 2 full baths per side
- 2,258 square feet of duplex space
- Built in 2026
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
$24,780
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
6.21%
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%
$495,600
$495.6K
Cap Rate 7%
$354,000
$354.0K
Cap Rate 9%
$275,333
$275.3K
Market Conditions
NOI Build-Up for 2,258 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
$38.7K $17.16/SF
− Vacancy
−$3.3K −$1.48/SF
EGI
$35.4K $15.68/SF
− OpEx
−$10.6K −$4.70/SF
NOI
$24.8K $10.97/SF
Area
St. Bernard County, LA
Vacancy
8.64%
Lease Rate
$17.16 /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%
$495,600
Cap Rate 7%
$354,000
Cap Rate 9%
$275,333
Alternative Uses
Best Use
Multifamily LT 5
$354.0K
$309.8K – $413.0K
NOI $24,780 @ 7.0% cap · market cap 6.21%
Second Best
Apartment 5plus
$330.9K
$289.6K – $386.1K
NOI $23,165 @ 7.0% cap · market cap 5.81%
Theoretical Best
Office A
$595.7K
$521.3K – $695.0K
NOI $41,701 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
460
Businesses Nearby
Explore this area
Business Placement
Demographics for 70043, LA
21,596
Population
8,782
Households
2.5
Avg Household Size
34
Median Age
15%
College-Educated
83%
High-School Grad
9.1 sq mi
ZIP Area
2,373
Density / Sq Mi
$57,065
Median Household Income
$37,969
Median Earnings
$1,091
Median Rent
$203,800
Median Home Value
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 residences provide separate utilities, individual driveways, and open-concept living areas.
Where is this duplex located?
The property is located at 3508-10 Evangeline Dr Chalmette, LA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two residences with 3 bedrooms and 2 full baths per side; 2,258 square feet of duplex space; Built in 2026
