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    Duplex on Oversized Three-Lot Parcel Title is generated by Realmo AI

    3700 S Saratoga Street, New Orleans, LA 70115

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    For Sale
    $385,000

    Duplex - New Orleans, LA

    Type:Duplex
    Property size:
    3,266 SF
    Lot size:
    0.90 Acres
    Price / SF:
    $117/SF
    Added:
    May 28, 2026
    Days on Market:
    9
    Last Refresh:
    Jun 5 at 9:06 pm

    Property Features for 3700 S Saratoga Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Patio and Porch features
    Porch
    Exterior features
    Corner Lot, Porch
    Appliances
    Refrigerator
    Standard status
    Active
    Size
    3,266 SF
    Lot size
    0.90 Acres

    Building Details

    Floors in Building
    2
    Flooring type
    Wood
    Building materials
    Other
    Architectural style
    Other

    We can help!

    Listing Contact
    Caroline Davis
    Caroline Davis

    Listing agent Caroline Davis

    Listing office Reve REALTORS 4827 Prytania St, Baton Rouge, LA

    Listing date May 28, 2026

    MLS# 2026010234 Listing URL

    Copyright © 2026 Greater Baton Rouge 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.

    HighLights

    • Duplex at 3700 S. Saratoga Street in New Orleans, sold as‑is where is
    • Located on three lots with oversized parcel for expanded outdoor space or potential future improvements (buyer to verify zoning/uses)
    • Corner lot with a porch and includes a refrigerator
    • Wood flooring throughout

    Overview

    This for-sale duplex at 3700 S Saratoga Street is set up as a straightforward renovation project, described as having “good bones” and a solid footprint. The property is sold as-is, where-is, and is intended for buyers bringing a contractor or renovation plans to reposition the asset. The listing notes that measurements are not warranted by the broker or Realtor, and buyers should confirm all details during due diligence.

    The duplex sits on three lots, providing a larger combined parcel than a typical single-lot home. With approximately 0.9 acres total land area, the site offers flexibility for outdoor living space and additional improvements. The listing also flags that any future development possibilities, as well as zoning and permitted uses, must be verified by the buyer.

    For investors and residential income buyers, this is a practical fit for a value-add strategy centered on renovation and reconfiguration. Contractors and owner-occupants may also view it as a hands-on project where the existing duplex layout can be restored and brought back to market. Note that an appointment is required and must be booked through ShowingTime online. A pre-approval letter is required with offers, and all terms include the deposit being held by the title company.

    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 $43.9k $13.44
    − Vacancy −$3.8k −$1.16
    EGI $40.1k $12.28
    − OpEx −$12.0k −$3.68
    NOI $28.1k $8.60
    3,266 SF · lease $13.44/SF/yr · vacancy 8.64% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $401.0K
    $350.9K – $467.9K (±1% cap)
    NOI $28,072 @ 7.0% cap · market cap 7.29%
    Second Best
    Apartment 5plus
    $355.5K
    $311.1K – $414.7K (±1% cap)
    NOI $24,884 @ 7.0% cap · market cap 6.46%
    Theoretical Best
    Office A
    $861.7K
    $754.0K – $1.01M (±1% cap)
    NOI $60,316 @ 7.0% cap · market cap 15.67%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.0962346
    Latitude
    29.9319627

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    FAQs

    What type of property is this?
    Duplex - Duplex on three lots, sold as-is and ready for a full renovation with room for outdoor expansion possibilities.
    Where is this duplex located?
    The property is located at 3700 S Saratoga 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: Duplex at 3700 S. Saratoga Street in New Orleans, sold as‑is where is; Located on three lots with oversized parcel for expanded outdoor space or potential future improvements (buyer to verify zoning/uses); Corner lot with a porch and includes a refrigerator
    (225) 333-8148
    We can help!
    Listing Contact
    Caroline Davis
    Caroline Davis
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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