Three-Unit
For Sale
$525,000
3707-11 Stefano Street, Metairie, LA 70002
Each residence includes central air, functional living space, three bedrooms, and two-and-a-half baths.
Property Size5,055 SF
Price / SF$103.86
Days on Market129
Property Features for 3707-11 Stefano Street
General Information
Standard status
Active
Size
5,055 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Units
Unit Mix
3 x 3BR/2.5BA
Multifamily Units
3
Amenities
Central Air
Central
1
6
9
3
IN EACH UNIT
Flat
2
Slab: Traditional
Brick, Other
Building Details
Year Built
1972
Listing Agency:
RE/MAX Living
(504) 909-8903
Listed By:
Erin Helwig · License #995704137
(504) 909-8903
Source:
Compass
Added: Apr 25
Changed: Aug 29
Last Checked: Aug 31 at 1:32AM
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 RE/MAX Living
Investment Insights
Based on property information with market context.
Built in 1972, this 5,055-square-foot triplex contains three residential units with a consistent three-bedroom, two-and-a-half-bath configuration. The interiors include central air and central heating, while each residence provides living areas designed for everyday residential use.
The property has a traditional slab foundation and a brick and other exterior finish. Located at 3707-11 Stefano Street in Metairie, Louisiana, the building offers a straightforward multifamily configuration with three similarly arranged units.
The property has a traditional slab foundation and a brick and other exterior finish. Located at 3707-11 Stefano Street in Metairie, Louisiana, the building offers a straightforward multifamily configuration with three similarly arranged units.
Key Highlights
- Three residential units, each with 3 bedrooms and 2.5 baths
- 5,055 SF triplex built in 1972
- Central air and central heating in the units
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
$47,042
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
8.96%
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%
$940,840
$940.8K
Cap Rate 7%
$672,029
$672.0K
Cap Rate 9%
$522,689
$522.7K
Market Conditions
NOI Build-Up for 5,055 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
$91.0K $18.00/SF
− Vacancy
−$5.5K −$1.08/SF
EGI
$85.5K $16.92/SF
− OpEx
−$38.5K −$7.61/SF
NOI
$47.0K $9.31/SF
Area
Metairie, LA
Vacancy
6.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$940,840
Cap Rate 7%
$672,029
Cap Rate 9%
$522,689
Alternative Uses
Best Use
Multifamily LT 5
$772.2K
$675.7K – $900.9K
NOI $54,056 @ 7.0% cap · market cap 10.30%
Second Best
Apartment 5plus
$672.0K
$588.0K – $784.0K
NOI $47,042 @ 7.0% cap · market cap 8.96%
Theoretical Best
Office A
$1.18M
$1.04M – $1.38M
NOI $82,863 @ 7.0% cap · market cap 15.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,500
Businesses Nearby
Explore this area
Business Placement
Demographics for 70002, LA
19,857
Population
9,585
Households
2.1
Avg Household Size
40
Median Age
50%
College-Educated
95%
High-School Grad
3.2 sq mi
ZIP Area
6,205
Density / Sq Mi
$65,576
Median Household Income
$50,983
Median Earnings
$1,128
Median Rent
$379,400
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?
Triplex - Each residence includes central air, functional living space, three bedrooms, and two-and-a-half baths.
Where is this triplex located?
The property is located at 3707-11 Stefano Street Metairie, LA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Three residential units, each with 3 bedrooms and 2.5 baths; 5,055 SF triplex built in 1972; Central air and central heating in the units
