Renovated Triplex with Rear
For Sale
$353,000
3711 LOUISIANA AVE Parkway, New Orleans, LA 70125
Three-unit property with two-bedroom residences, a separate studio, and updated interiors in New Orleans.
Property Size2,024 SF
Price / SF$174.41
Days on Market139
Property Features for 3711 LOUISIANA AVE Parkway
General Information
Standard status
Active
Size
2,024 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA, 1 x studio
Multifamily Units
3
Amenities
Ductless, Wall Unit(s)
Ductless, Wall Furnace
Driveway, Off Street
Other
Building Details
Year Built
1960
Buildings
1
Stories
2
Listing Agency:
Martin Realty Group
(504) 251-5528
Listed By:
Tessa Anderson · License #995709745
(504) 251-5528
Source:
Evrealestate
Added: Apr 15
Changed: Aug 29
Last Checked: Aug 31 at 12:52PM
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 Martin Realty Group
Investment Insights
Based on property information with market context.
Located at 3711 Louisiana Ave Parkway in New Orleans, this triplex was built in 1960 and has been renovated with contemporary finishes. The front portion contains a double, with each residence offering two bedrooms and one bathroom. A separate one-bedroom studio occupies the rear, creating a three-unit configuration with varied layouts.
Interior features include open-plan living areas and updated design details throughout the property. The address provides access to major thoroughfares as well as nearby shopping, dining, and local attractions. The unit mix accommodates residents seeking larger two-bedroom layouts alongside a more compact studio arrangement.
Interior features include open-plan living areas and updated design details throughout the property. The address provides access to major thoroughfares as well as nearby shopping, dining, and local attractions. The unit mix accommodates residents seeking larger two-bedroom layouts alongside a more compact studio arrangement.
Key Highlights
- Renovated triplex at 3711 Louisiana Ave Parkway, New Orleans, LA 70125
- Front double with two residences, each offering 2 bedrooms and 1 bathroom
- Separate 1‑bedroom studio located in the rear
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
$25,629
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
7.26%
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%
$512,580
$512.6K
Cap Rate 7%
$366,129
$366.1K
Cap Rate 9%
$284,767
$284.8K
Market Conditions
NOI Build-Up for 2,024 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
$40.1K $19.80/SF
− Vacancy
−$3.5K −$1.71/SF
EGI
$36.6K $18.09/SF
− OpEx
−$11.0K −$5.43/SF
NOI
$25.6K $12.66/SF
Area
New Orleans, LA
Vacancy
8.64%
Lease Rate
$19.80 /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%
$512,580
Cap Rate 7%
$366,129
Cap Rate 9%
$284,767
Alternative Uses
Best Use
Multifamily LT 5
$366.1K
$320.4K – $427.2K
NOI $25,629 @ 7.0% cap · market cap 7.26%
Second Best
Apartment 5plus
$336.5K
$294.5K – $392.6K
NOI $23,557 @ 7.0% cap · market cap 6.67%
Theoretical Best
Office A
$514.4K
$450.1K – $600.2K
NOI $36,010 @ 7.0% cap · market cap 10.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,361
Businesses Nearby
Explore this area
Business Placement
Demographics for 70125, LA
17,457
Population
7,972
Households
2.2
Avg Household Size
33
Median Age
46%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
7,590
Density / Sq Mi
$58,956
Median Household Income
$39,623
Median Earnings
$1,292
Median Rent
$428,600
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?
Triplex - Three-unit property with two-bedroom residences, a separate studio, and updated interiors in New Orleans.
Where is this triplex located?
The property is located at 3711 LOUISIANA AVE Parkway New Orleans, LA.
What is the asking price?
The asking price for this property is $353,000.
What are key features of this property?
This property features: Renovated triplex at 3711 Louisiana Ave Parkway, New Orleans, LA 70125; Front double with two residences, each offering 2 bedrooms and 1 bathroom; Separate 1‑bedroom studio located in the rear
