Historic Two-Unit
For Sale
$479,000
3809-11 Dauphine Street, New Orleans, LA 70117
Two distinct floor plans pair historic character with updated living features, including central AC in one unit.
Property Size2,591 SF
Price / SF$184.87
Days on Market235
Property Features for 3809-11 Dauphine Street
General Information
Standard status
Active
Size
2,591 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Additional Details
Multifamily Units
2
Amenities
Central Air, Window Unit(s)
Central, Other Heat
1
3
6
in-unit
4
Asphalt
Pillar/Post/Pier
Other
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Crane Realtors
(504) 210-2014
Listed By:
Aaron Dare · License #995681183
(504) 210-2014
Source:
Compass
Added: Jan 9
Changed: Aug 31
Last Checked: Aug 31 at 2:09AM
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 Crane Realtors
Investment Insights
Based on property information with market context.
Built in 1900, this 2,591-square-foot duplex contains two separate residences with different layouts and preserved architectural character. The 3809 side follows a traditional shotgun-style plan with original hardwood floors and historic details, while 3811 uses a side-hall arrangement with updates that include central AC. Both units feature tall ceilings, substantial natural light, and original wood flooring.
The property is located in Bywater at 3809-11 Dauphine Street, within a walkable neighborhood near local restaurants, coffee shops, and other neighborhood establishments. Its two-unit configuration supports either an owner-occupant arrangement or an investment-focused use, as explicitly suited to the property’s layout.
The property is located in Bywater at 3809-11 Dauphine Street, within a walkable neighborhood near local restaurants, coffee shops, and other neighborhood establishments. Its two-unit configuration supports either an owner-occupant arrangement or an investment-focused use, as explicitly suited to the property’s layout.
Key Highlights
- 2,591‑square‑foot duplex built in 1900
- Two units with distinct shotgun‑style and side‑hall floor plans
- 3809 includes original hardwood floors and historic architectural details
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
$32,809
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
6.85%
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%
$656,180
$656.2K
Cap Rate 7%
$468,700
$468.7K
Cap Rate 9%
$364,544
$364.5K
Market Conditions
NOI Build-Up for 2,591 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
$51.3K $19.80/SF
− Vacancy
−$4.4K −$1.71/SF
EGI
$46.9K $18.09/SF
− OpEx
−$14.1K −$5.43/SF
NOI
$32.8K $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%
$656,180
Cap Rate 7%
$468,700
Cap Rate 9%
$364,544
Alternative Uses
Best Use
Multifamily LT 5
$468.7K
$410.1K – $546.8K
NOI $32,809 @ 7.0% cap · market cap 6.85%
Second Best
Apartment 5plus
$430.8K
$377.0K – $502.6K
NOI $30,156 @ 7.0% cap · market cap 6.30%
Theoretical Best
Office A
$658.5K
$576.2K – $768.3K
NOI $46,098 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,033
Businesses Nearby
Explore this area
Business Placement
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
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?
Duplex - Two distinct floor plans pair historic character with updated living features, including central AC in one unit.
Where is this duplex located?
The property is located at 3809-11 Dauphine Street New Orleans, LA.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: 2,591‑square‑foot duplex built in 1900; Two units with distinct shotgun‑style and side‑hall floor plans; 3809 includes original hardwood floors and historic architectural details
