Spanish-Style
For Sale
$320,000
3817 OCTAVIA Street, New Orleans, LA 70125
Multi-Family, Spanish, New Orleans, LA
Property Size2,452 SF
Lot Size0.09 Acres
Price / SF$130.51
Days on Market93
Property Features for 3817 OCTAVIA Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Off Street, Driveway
Exterior features
Balcony
Lot features
Regular
Subdivision
Broadmoor
Standard status
Active
APN
614350408
Size
2,452 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Description
SQ 116 LOT A OCTAVIA 35X110 3817-19 OCTAVIA ST DUP-STU 97 NR MA CHNGD 1/4/99 FILE #80183 1/00 SUCN
Legal Description
SQ 116 LOT A OCTAVIA 35X110 3817-19 OCTAVIA ST DUP-STU 97 NR MA CHNGD 1/4/99 FILE #80183 1/00 SUCN
Utilities
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Roof type
Flat
Architectural style
Spanish
Listing Agency:
Realty One Group Immobilia
(504) 405-3211
Listed By:
Celia Cruz · License #995697759
(504) 994-4422
Added: Jun 1
Changed: Aug 26
Last Checked: Sep 1 at 2:06AM
MLS# 2560350
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1930, this Spanish-style duplex contains approximately 2,452 square feet across two residential units. The downstairs and upstairs residences each provide approximately 1,200 square feet, with two bedrooms, one bathroom, and a spacious living area. A front porch overlooks Octavia Street, while the upstairs unit retains original hardwood floors. Additional features include a balcony, window-unit cooling, a flat roof, public water service, and driveway and off-street parking.
The property occupies a 3,850-square-foot lot in New Orleans’ Broadmoor area, with access to Uptown and Downtown. Universities, hospitals, shopping, dining, entertainment, and major transportation routes are located in the surrounding area. Structural shoring was completed in 2006, followed by replacement of the under-house plumbing system in 2022 and indoor plumbing in 2024.
The property occupies a 3,850-square-foot lot in New Orleans’ Broadmoor area, with access to Uptown and Downtown. Universities, hospitals, shopping, dining, entertainment, and major transportation routes are located in the surrounding area. Structural shoring was completed in 2006, followed by replacement of the under-house plumbing system in 2022 and indoor plumbing in 2024.
Key Highlights
- Two residential units, each with approximately 1,200 sq ft, two bedrooms, and one bathroom
- Approximately 2,452 square feet of total living space
- Structural shoring completed in 2006
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
$28,538
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
8.92%
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%
$570,760
$570.8K
Cap Rate 7%
$407,686
$407.7K
Cap Rate 9%
$317,089
$317.1K
Market Conditions
NOI Build-Up for 2,452 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
$57.1K $23.28/SF
− Vacancy
−$5.2K −$2.12/SF
EGI
$51.9K $21.16/SF
− OpEx
−$23.3K −$9.52/SF
NOI
$28.5K $11.64/SF
Area
New Orleans, LA
Vacancy
9.10%
Lease Rate
$23.28 /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%
$570,760
Cap Rate 7%
$407,686
Cap Rate 9%
$317,089
Alternative Uses
Best Use
Multifamily LT 5
$443.5K
$388.1K – $517.5K
NOI $31,048 @ 7.0% cap · market cap 9.70%
Second Best
Apartment 5plus
$407.7K
$356.7K – $475.6K
NOI $28,538 @ 7.0% cap · market cap 8.92%
Theoretical Best
Office A
$623.2K
$545.3K – $727.1K
NOI $43,625 @ 7.0% cap · market cap 13.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,026
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?
Duplex - Two-level duplex with updated plumbing, separate living areas, porches, and off-street parking in Broadmoor.
Where is this duplex located?
The property is located at 3817 OCTAVIA Street New Orleans, LA.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Two residential units, each with approximately 1,200 sq ft, two bedrooms, and one bathroom; Approximately 2,452 square feet of total living space; Structural shoring completed in 2006
