Renovated Duplex with Private
New
For Sale
$355,000
3508-10 Robert St, New Orleans, LA 70125
Two-unit property with central AC, separate driveways, and dedicated outdoor yard areas.
Property Size2,225 SF
Price / SF$159.55
Days on Market6
Property Features for 3508-10 Robert St
General Information
Standard status
Active
Size
2,225 SF
Property subtype
Multi-Family
Additional Details
Road Access
Yes
Multifamily Units
2
Amenities
central AC
outdoor yards
private parking
driveway
hardwood flooring
stainless steel appliances
quartz countertops
renovated bathrooms
Building Details
Year Built
1940
Listing Agency:
Luxe Realty Brokerage Corporation
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Sep 9
Changed: Sep 13
Last Checked: Sep 13 at 7:50AM
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 Luxe Realty Brokerage Corporation
Investment Insights
Based on property information with market context.
This duplex includes two residential units with central AC, private parking, individual driveways, and separate outdoor yards. The owner unit features an open layout, hardwood floors, a white shaker-style kitchen with quartz countertops, stainless steel appliances, and updated bathrooms. The property was built in 1940.
The 3510 unit is currently rented, while the 3508 unit is available to show. The upstairs unit has not been fully renovated but is described as being in good condition. Access to one private yard is provided from Jefferson Avenue, and the property is located at 3508-10 Robert St in New Orleans.
The 3510 unit is currently rented, while the 3508 unit is available to show. The upstairs unit has not been fully renovated but is described as being in good condition. Access to one private yard is provided from Jefferson Avenue, and the property is located at 3508-10 Robert St in New Orleans.
Key Highlights
- Renovated owner unit with open floor plan and hardwood flooring
- Kitchen includes quartz countertops, white shaker cabinetry, and stainless steel appliances
- Both units have central AC, private parking, driveways, and outdoor yards
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
$28,174
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
7.94%
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%
$563,480
$563.5K
Cap Rate 7%
$402,486
$402.5K
Cap Rate 9%
$313,044
$313.0K
Market Conditions
NOI Build-Up for 2,225 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
$44.1K $19.80/SF
− Vacancy
−$3.8K −$1.71/SF
EGI
$40.2K $18.09/SF
− OpEx
−$12.1K −$5.43/SF
NOI
$28.2K $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%
$563,480
Cap Rate 7%
$402,486
Cap Rate 9%
$313,044
Alternative Uses
Best Use
Multifamily LT 5
$402.5K
$352.2K – $469.6K
NOI $28,174 @ 7.0% cap · market cap 7.94%
Second Best
Apartment 5plus
$369.9K
$323.7K – $431.6K
NOI $25,896 @ 7.0% cap · market cap 7.29%
Theoretical Best
Office A
$565.5K
$494.8K – $659.8K
NOI $39,586 @ 7.0% cap · market cap 11.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with central AC, separate driveways, and dedicated outdoor yard areas.
Where is this duplex located?
The property is located at 3508-10 Robert St New Orleans, LA.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: Renovated owner unit with open floor plan and hardwood flooring; Kitchen includes quartz countertops, white shaker cabinetry, and stainless steel appliances; Both units have central AC, private parking, driveways, and outdoor yards
