Flexible Multi-Unit Residential
3608 ELAINE Place New Orleans, LA 70119
3608 ELAINE Place, New Orleans, LA, 70119
$1,075,000
For Sale
$1,075,000
MULTI_FAMILY - New Orleans, LA
Property Size4,193 SF
Price / SF$256.38
Days on Market44
Property Features for 3608 ELAINE Place
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- Driveway
- Patio and Porch features
- Porch
- Exterior features
- Balcony, Fence, Porch
- Fencing
- Fenced
- Standard status
- Active
- APN
- 701193608ELAINEPL
- Size
- 4,193 SF
Utilities
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1926
- Floors in Building
- 2
- Number of units
- 2
- Roof type
- Shingle
- Architectural style
- Other
Listing Agency
Crane Realtors
(504) 210-2014
138 N Cortez Street, New Orleans, LA
Listed by
Aaron Dare · License #995681183
(504) 899-8666
Added: Jun 3 Checked: Jul 16 at 5:06 pm
MLS# 2560423
Listing URL
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 flexible multi-unit residential property is arranged for separation and convenience, with multiple living areas and distinct entries. The upper level features a spacious living and dining area, a well-appointed kitchen, and an oversized primary suite with a large walk-in closet, generous bathroom, and private rear deck access with Bayou views. Additional bedrooms and baths round out a comfortable, livable floor plan.
A standout feature is the two lower level spaces, each with separate exterior entrances while also offering interior accessibility. Outside, the property includes a rear patio, a storage shed, and off-street parking, giving tenants or owner-occupants practical outdoor and day-to-day utility.
Positioned just off Bayou St. John in the Parkview neighborhood, the home offers a rare mix of income potential and adaptable living. For investors, the configuration can support diversified leasing or flexible accommodation arrangements. For owner occupants, the layout provides options for full- or part-time living while still capturing rental value, including possibilities for multi-generational households and work-from-home setups.
A standout feature is the two lower level spaces, each with separate exterior entrances while also offering interior accessibility. Outside, the property includes a rear patio, a storage shed, and off-street parking, giving tenants or owner-occupants practical outdoor and day-to-day utility.
Positioned just off Bayou St. John in the Parkview neighborhood, the home offers a rare mix of income potential and adaptable living. For investors, the configuration can support diversified leasing or flexible accommodation arrangements. For owner occupants, the layout provides options for full- or part-time living while still capturing rental value, including possibilities for multi-generational households and work-from-home setups.
Key Highlights
- Parkview neighborhood home built in 1926 with central heating and central A/C
- Upper level includes spacious living and dining areas, kitchen, and an oversized primary suite with large walk‑in closet
- Primary suite offers private rear deck access with Bayou views
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 | $83.0k | $19.80 |
| − Vacancy | −$7.2k | −$1.71 |
| EGI | $75.8k | $18.09 |
| − OpEx | −$22.8k | −$5.43 |
| NOI | $53.1k | $12.66 |
4,193 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$758.5K
$663.7K – $884.9K
NOI $53,094 @ 7.0% cap · market cap 4.94%
Second Best
Apartment 5plus
$697.2K
$610.0K – $813.4K
NOI $48,802 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$1.10M
$960.0K – $1.28M
NOI $76,802 @ 7.0% cap · market cap 7.14%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Orleans Guest House
Bed & Breakfast
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Distinct entries and multiple living areas support rental income, guest stays, or owner-occupied flexibility.
Where is this duplex located?
The property is located at 3608 ELAINE Place New Orleans, LA.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: Parkview neighborhood home built in 1926 with central heating and central A/C; Upper level includes spacious living and dining areas, kitchen, and an oversized primary suite with large walk‑in closet; Primary suite offers private rear deck access with Bayou views
