Brick Duplex with Covered
For Sale
$299,000
3766 68 Roman St, Metairie, LA 70001
Two-unit property with one vacant residence, one occupied unit, private outdoor areas, and dedicated off-street parking.
Property Size1,637 SF
Price / SF$182.65
Days on Market15
Property Features for 3766 68 Roman St
General Information
Standard status
Active
Size
1,637 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
covered rear patios
private fenced backyard areas
indoor laundry/storage space
Building Details
Year Built
1960
Buildings
1
Construction
brick
Listing Agency:
RE/MAX Synergy
(504) 914-0988
Listed By:
Jeffery Melancon
Source:
Fiorellaavenue
Added: Aug 18
Changed: Aug 31
Last Checked: Aug 31 at 6:33PM
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 Synergy
Investment Insights
Based on property information with market context.
This 1960-built duplex includes two separate residences, with one currently vacant and ready for occupancy while the other is occupied. Both units offer functional layouts with spacious living areas, generously sized bedrooms, updated flooring, neutral paint, and abundant natural light. Kitchens include cabinet and counter space with adjoining dining areas, and the bathrooms have been updated. Indoor laundry and storage areas are provided in both units.
Each residence also has a covered rear patio, a private fenced backyard area, and dedicated off-street parking. The property is constructed of brick and is situated near shopping, dining, schools, and major highways. Its configuration supports either continued rental use or occupancy of one unit while the other remains income-producing.
Each residence also has a covered rear patio, a private fenced backyard area, and dedicated off-street parking. The property is constructed of brick and is situated near shopping, dining, schools, and major highways. Its configuration supports either continued rental use or occupancy of one unit while the other remains income-producing.
Key Highlights
- Duplex constructed in 1960
- One unit is vacant and ready for occupancy; the second unit is occupied
- Both units feature updated flooring, neutral paint, and updated bathrooms
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
$17,505
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
5.85%
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%
$350,100
$350.1K
Cap Rate 7%
$250,071
$250.1K
Cap Rate 9%
$194,500
$194.5K
Market Conditions
NOI Build-Up for 1,637 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
$26.5K $16.20/SF
− Vacancy
−$1.5K −$0.92/SF
EGI
$25.0K $15.28/SF
− OpEx
−$7.5K −$4.58/SF
NOI
$17.5K $10.69/SF
Area
Metairie, LA
Vacancy
5.70%
Lease Rate
$16.20 /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%
$350,100
Cap Rate 7%
$250,071
Cap Rate 9%
$194,500
Alternative Uses
Best Use
Multifamily LT 5
$250.1K
$218.8K – $291.8K
NOI $17,505 @ 7.0% cap · market cap 5.85%
Second Best
Apartment 5plus
$217.6K
$190.4K – $253.9K
NOI $15,234 @ 7.0% cap · market cap 5.09%
Theoretical Best
Office A
$383.3K
$335.4K – $447.2K
NOI $26,834 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
924
Businesses Nearby
Explore this area
Business Placement
Demographics for 70001, LA
40,068
Population
19,103
Households
2.1
Avg Household Size
39
Median Age
37%
College-Educated
93%
High-School Grad
6.5 sq mi
ZIP Area
6,164
Density / Sq Mi
$70,187
Median Household Income
$43,662
Median Earnings
$1,145
Median Rent
$313,300
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?
Duplex - Two-unit property with one vacant residence, one occupied unit, private outdoor areas, and dedicated off-street parking.
Where is this duplex located?
The property is located at 3766 68 Roman St Metairie, LA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Duplex constructed in 1960; One unit is vacant and ready for occupancy; the second unit is occupied; Both units feature updated flooring, neutral paint, and updated bathrooms
