Duplex with Separate
For Sale
$385,000
3655 57 Tchoupitoulas Street, New Orleans, LA 70115
Two residential units offer two-bedroom layouts, updated kitchens and baths, private laundry, and exterior storage.
Property Size1,314 SF
Days on Market25
Property Features for 3655 57 Tchoupitoulas Street
General Information
Standard status
Active
Size
1,314 SF
Property subtype
Multi Family Home
Building Details
Building Size
1,314 SF
Year Built
1934
Stories
1
Listing Agency:
Reve, Realtors
(504) 610-5637
Listed By:
Joey Walker · License #995699523
(504) 610-5637
Source:
Nolalivingrealty
Added: Jul 31
Changed: Aug 22
Last Checked: Aug 23 at 12:34PM
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 Reve, Realtors
Investment Insights
Based on property information with market context.
Built in 1934, this duplex is configured with two residential units, each offering a two-bedroom, one-bath shotgun floor plan. Both residences include wood flooring, mantels, updated kitchens and bathrooms, separate laundry rooms, and exterior storage. The yards are individually fenced, and the property carries HU-MU zoning.
The property is located at 3655 57 Tchoupitoulas Street in New Orleans' Uptown area, near Brewery Row. Freret Street, St. Charles Avenue, Ochsner Baptist, downtown, restaurants, coffee shops, and other neighborhood businesses are described as minutes away. The lot measures 27 feet by 139/145 feet, providing outdoor space associated with both units.
The property is located at 3655 57 Tchoupitoulas Street in New Orleans' Uptown area, near Brewery Row. Freret Street, St. Charles Avenue, Ochsner Baptist, downtown, restaurants, coffee shops, and other neighborhood businesses are described as minutes away. The lot measures 27 feet by 139/145 feet, providing outdoor space associated with both units.
Key Highlights
- Two residential units, each with a two‑bedroom, one‑bath shotgun floor plan
- Separate fenced yards for each unit
- Wood floors, mantels, updated kitchens and baths, and separate laundry rooms
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
$11,294
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
2.93%
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%
$225,880
$225.9K
Cap Rate 7%
$161,343
$161.3K
Cap Rate 9%
$125,489
$125.5K
Market Conditions
NOI Build-Up for 1,314 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
$17.7K $13.44/SF
− Vacancy
−$1.5K −$1.16/SF
EGI
$16.1K $12.28/SF
− OpEx
−$4.8K −$3.68/SF
NOI
$11.3K $8.60/SF
Area
ZIP 70115
Vacancy
8.64%
Lease Rate
$13.44 /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%
$225,880
Cap Rate 7%
$161,343
Cap Rate 9%
$125,489
Alternative Uses
Best Use
Multifamily LT 5
$161.3K
$141.2K – $188.2K
NOI $11,294 @ 7.0% cap · market cap 2.93%
Second Best
Apartment 5plus
$143.0K
$125.2K – $166.9K
NOI $10,012 @ 7.0% cap · market cap 2.60%
Theoretical Best
Office A
$346.7K
$303.3K – $404.5K
NOI $24,267 @ 7.0% cap · market cap 6.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,687
Businesses Nearby
Explore this area
Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
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 residential units offer two-bedroom layouts, updated kitchens and baths, private laundry, and exterior storage.
Where is this duplex located?
The property is located at 3655 57 Tchoupitoulas Street New Orleans, LA.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Two residential units, each with a two‑bedroom, one‑bath shotgun floor plan; Separate fenced yards for each unit; Wood floors, mantels, updated kitchens and baths, and separate laundry rooms
