Duplex Requiring
For Sale
$325,000
Pending
3700 S Saratoga St, New Orleans, LA 70115
Two-unit property on an oversized three-lot parcel, offered in as-is condition.
Property Size3,266 SF
Days on Market38
Property Features for 3700 S Saratoga St
General Information
Standard status
Pending
Size
3,266 SF
Property subtype
Multi-Family
Property Condition
Severity
Major Repairs Needed
Evidence
ready for a full renovation
Additional Details
Multifamily Units
2
Listing Agency:
Reve REALTORS
Listed By:
Caroline Davis
(225) 333-8148
Source:
Smithsquared
Added: Jul 28
Changed: Aug 31
Last Checked: Sep 1 at 10:03PM
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.
Located at 3700 S. Saratoga St in New Orleans, this duplex contains 3,266 square feet and occupies three lots. The property requires a full renovation and is being offered in its existing condition.
The oversized parcel provides substantial land area associated with the duplex. Buyers should independently confirm zoning and permitted uses. Showings require an appointment through ShowingTime, and the property is offered “As Is, Where Is.”
The oversized parcel provides substantial land area associated with the duplex. Buyers should independently confirm zoning and permitted uses. Showings require an appointment through ShowingTime, and the property is offered “As Is, Where Is.”
Key Highlights
- Duplex with 3,266 square feet
- Property spans three lots
- Full renovation required
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
$28,072
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
8.64%
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%
$561,440
$561.4K
Cap Rate 7%
$401,029
$401.0K
Cap Rate 9%
$311,911
$311.9K
Market Conditions
NOI Build-Up for 3,266 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
$43.9K $13.44/SF
− Vacancy
−$3.8K −$1.16/SF
EGI
$40.1K $12.28/SF
− OpEx
−$12.0K −$3.68/SF
NOI
$28.1K $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%
$561,440
Cap Rate 7%
$401,029
Cap Rate 9%
$311,911
Alternative Uses
Best Use
Multifamily LT 5
$401.0K
$350.9K – $467.9K
NOI $28,072 @ 7.0% cap · market cap 8.64%
Second Best
Apartment 5plus
$355.5K
$311.1K – $414.7K
NOI $24,884 @ 7.0% cap · market cap 7.66%
Theoretical Best
Office A
$861.7K
$754.0K – $1.01M
NOI $60,316 @ 7.0% cap · market cap 18.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,881
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property on an oversized three-lot parcel, offered in as-is condition.
Where is this duplex located?
The property is located at 3700 S Saratoga St New Orleans, LA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Duplex with 3,266 square feet; Property spans three lots; Full renovation required
