Duplex with Flexible Lower-Level
For Sale
$995,000
3608 ELAINE Place, New Orleans, LA 70119
Multi-Family, Raised Basement, New Orleans, LA
Property Size4,193 SF
Price / SF$237.30
Days on Market125
Property Features for 3608 ELAINE Place
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Driveway
Patio and Porch features
Porch
Exterior features
Balcony, Fence, Porch
Fencing
Fenced
Subdivision
Faubourg St John
Lot features
Regular
Standard status
Active
APN
701193608ELAINEPL
Size
4,193 SF
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
rear patio
storage shed
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
Listed By:
Aaron Dare · License #995681183
(504) 899-8666
Added: Jun 3
Changed: Sep 30
Last Checked: Oct 5 at 12:06PM
MLS# 2560423
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 4,193-square-foot duplex, built in 1926, offers a multi-level layout with distinct living areas and separate exterior entries. The upper level includes living and dining rooms, a kitchen, an oversized primary suite, additional bedrooms and baths, a private rear deck, and views of Bayou St. John. Two lower-level spaces provide additional flexibility, with both interior access and individual exterior entrances.
Outdoor features include a rear patio, porch, storage shed, fenced areas, driveway parking, and balcony space. The property has central heating and central air, a shingle roof, and public water service. It is located in the Parkview neighborhood of New Orleans, near Bayou St. John and minutes from City Park, restaurants, and neighborhood amenities.
Outdoor features include a rear patio, porch, storage shed, fenced areas, driveway parking, and balcony space. The property has central heating and central air, a shingle roof, and public water service. It is located in the Parkview neighborhood of New Orleans, near Bayou St. John and minutes from City Park, restaurants, and neighborhood amenities.
Key Highlights
- 4,193 SF duplex built in 1926
- Two lower‑level spaces with separate exterior entrances and interior access
- Upper‑level primary suite includes a large walk‑in closet and private rear deck access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,094
Cap Rate
5.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,061,880
$1.1M
Cap Rate 7%
$758,486
$758.5K
Cap Rate 9%
$589,933
$589.9K
Market Conditions
NOI Build-Up for 4,193 SF
Gross rent
$83.0K $19.80/SF
− Vacancy
−$7.2K −$1.71/SF
EGI
$75.8K $18.09/SF
− OpEx
−$22.8K −$5.43/SF
NOI
$53.1K $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 Rate 5%
$1,061,880
Cap Rate 7%
$758,486
Cap Rate 9%
$589,933
Alternative Uses
Best Use
Multifamily LT 5
$758.5K
$663.7K – $884.9K
NOI $53,094 @ 7.0% cap · market cap 5.34%
Second Best
Apartment 5plus
$697.2K
$610.0K – $813.4K
NOI $48,802 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$1.10M
$960.0K – $1.28M
NOI $76,802 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,860
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Multi-level property with separate entrances, outdoor areas, and off-street parking near Bayou St. John.
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 $995,000.
What are key features of this property?
This property features: 4,193 SF duplex built in 1926; Two lower‑level spaces with separate exterior entrances and interior access; Upper‑level primary suite includes a large walk‑in closet and private rear deck access
