Duplex Renovation
For Sale
$325,000
Pending
3700 S Saratoga Street, New Orleans, LA 70115
Residential Income, New Orleans, LA
Property Size3,266 SF
Lot Size0.90 Acres
Days on Market99
Property Features for 3700 S Saratoga Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Patio and Porch features
Porch
Fencing
Chain Link
Appliances
Refrigerator
Subdivision
Not A Subdivision
Lot features
Corner Lot, Corner Lot
Elementary school district
Orleans Parish
Middle school district
Orleans Parish
High school district
Orleans Parish
Directions
From St. Charles take a left on Amelia St., Then take a Left on South Saratoga and the property is on the Left on the corner of Amelia St. and South Saratoga.
Standard status
Pending
Size
3,266 SF
Lot size
0.90 Acres
Taxes and HOA fees
Tax Description
DIST:6-14 WARD SQ 506 FRT PTS LTS 11-12-13 SARATOGA & AMELIA 43X93 3700-02 S SARATOGA DU-2 STY-W FILE #91136 7/06
Legal Description
DIST:6-14 WARD SQ 506 FRT PTS LTS 11-12-13 SARATOGA & AMELIA 43X93 3700-02 S SARATOGA DU-2 STY-W FILE #91136 7/06
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Floors in Building
2
Flooring type
Wood
Building materials
Other Siding
Listing Agency:
Reve REALTORS
(504) 300-0700
Listed By:
Caroline Davis
(225) 333-8148
Added: May 28
Changed: Aug 26
Last Checked: Sep 3 at 5:06AM
MLS# 2026010234
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.
Investment Insights
Based on property information with market context.
Located at 3700 S. Saratoga Street in New Orleans, this duplex contains 3,266 square feet and sits across three lots totaling 0.9 acres. The property requires full renovation and is being offered in its present condition, with wood flooring, a porch, chain-link fencing, and other siding already in place.
Public water and public sewer serve the property. Existing features also include a refrigerator. Access is by appointment, and the property is sold as-is, where-is. Measurements are not warranted by the broker or Realtor.
Public water and public sewer serve the property. Existing features also include a refrigerator. Access is by appointment, and the property is sold as-is, where-is. Measurements are not warranted by the broker or Realtor.
Key Highlights
- Duplex with 3,266 square feet of building area
- Three‑lot parcel totaling 0.9 acres
- Full renovation property sold as‑is, where‑is
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 a sizable three-lot parcel with a porch, wood flooring, and public water and sewer.
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 $325,000.
What are key features of this property?
This property features: Duplex with 3,266 square feet of building area; Three‑lot parcel totaling 0.9 acres; Full renovation property sold as‑is, where‑is
