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 Market61
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
Listed By:
Jeffery Melancon
(504) 914-0988
Source:
Fiorellaavenue
Added: Aug 18
Changed: Oct 6
Last Checked: Oct 7 at 5:00PM
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
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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 / Yr
$17,505
Cap Rate
5.85%
Suggested Prices Based on Cap Rates
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
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 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.
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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
