Side-by-Side
For Sale
$235,000
3911-13 Franklin Avenue, New Orleans, LA 70122
Two separate residences offer a flexible layout with hardwood floors and updated central HVAC.
Property Size1,663 SF
Price / SF$141.31
Days on Market72
Property Features for 3911-13 Franklin Avenue
General Information
Standard status
Active
Size
1,663 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
hardwood floors
central HVAC
Central Air
Central
1
2
4
Asphalt
Pillar/Post/Pier
Other
Building Details
Year Built
1956
Listing Agency:
Hera Realty
Listed By:
Patricia Stevens · License #912122943
(504) 428-4230
Source:
Compass
Added: Jun 23
Changed: Sep 2
Last Checked: Aug 31 at 9:55PM
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 Hera Realty
Investment Insights
Based on property information with market context.
Located at 3911-13 Franklin Avenue in New Orleans, this 1956 duplex contains two adjoining residences within approximately 1,663 total living square feet. Each unit includes 2 bedrooms and 1 bathroom, creating a clearly defined two-unit configuration. Hardwood flooring extends through the interiors, while a new central HVAC system provides current heating and cooling equipment.
The property is situated in Gentilly and includes asphalt exterior surfacing with pillar/post/pier construction. Its side-by-side arrangement provides separate living spaces within one residential income property, supporting a range of occupancy and management approaches without combining the units into a single floor plan.
The property is situated in Gentilly and includes asphalt exterior surfacing with pillar/post/pier construction. Its side-by-side arrangement provides separate living spaces within one residential income property, supporting a range of occupancy and management approaches without combining the units into a single floor plan.
Key Highlights
- Two side‑by‑side units, each with 2 bedrooms and 1 bathroom
- Approximately 1,663 total living square feet
- Hardwood floors throughout the interiors
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
$17,229
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
7.33%
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%
$344,580
$344.6K
Cap Rate 7%
$246,129
$246.1K
Cap Rate 9%
$191,433
$191.4K
Market Conditions
NOI Build-Up for 1,663 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
$26.9K $16.20/SF
− Vacancy
−$2.3K −$1.40/SF
EGI
$24.6K $14.80/SF
− OpEx
−$7.4K −$4.44/SF
NOI
$17.2K $10.36/SF
Area
ZIP 70122
Vacancy
8.64%
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%
$344,580
Cap Rate 7%
$246,129
Cap Rate 9%
$191,433
Alternative Uses
Best Use
Multifamily LT 5
$246.1K
$215.4K – $287.2K
NOI $17,229 @ 7.0% cap · market cap 7.33%
Second Best
Apartment 5plus
$213.8K
$187.1K – $249.4K
NOI $14,966 @ 7.0% cap · market cap 6.37%
Theoretical Best
Office A
$435.2K
$380.8K – $507.7K
NOI $30,461 @ 7.0% cap · market cap 12.96%
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
670
Businesses Nearby
Explore this area
Business Placement
Demographics for 70122, LA
34,986
Population
17,131
Households
2
Avg Household Size
39
Median Age
37%
College-Educated
89%
High-School Grad
6.3 sq mi
ZIP Area
5,553
Density / Sq Mi
$47,613
Median Household Income
$38,248
Median Earnings
$1,196
Median Rent
$274,700
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 separate residences offer a flexible layout with hardwood floors and updated central HVAC.
Where is this duplex located?
The property is located at 3911-13 Franklin Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Two side‑by‑side units, each with 2 bedrooms and 1 bathroom; Approximately 1,663 total living square feet; Hardwood floors throughout the interiors
