3918 BANKS Street, New Orleans, LA 70119
MULTI_FAMILY - New Orleans, LA
- Added:
- Jan 2, 2026
- Days on Market:
- 178
- Last Refresh:
- Jun 29 at 11:06 am
Property Features for 3918 BANKS Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- Off Street
- Patio and Porch features
- Porch
- Exterior features
- Fence, Porch
- Fencing
- Fenced
- Standard status
- Active
- APN
- 105303925
- Size
- 2,531 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Description
- SQ 752 LOT 33 BANKS 23 11X159 10 JES/FRZ OK
Utilities
- Heating system
- Central, Natural Gas
- Cooling system
- Window Unit(s), Central Air
- Water source
- Public
Building Details
- Year built
- 1930
- Floors in Building
- 2
- Number of units
- 2
- Roof type
- Shingle
- Architectural style
- Other
Listing agent Sean Gerowin License #000074860 (504) 300-0700
Listing office REVE, REALTORS 4827 Prytania St, New Orleans, LA (504) 300-0700
Listing date Jan 2, 2026
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.
HighLights
- Duplex with 3‑bedroom upstairs owner’s unit plus a 2‑bedroom lower rental unit
- Top‑floor roof work completed with Fortified roof installed in 2025 and new heating & cooling units
- Central heating (natural gas) and central air, plus window unit(s) for cooling
- Multiple private entrances for both units; rear internal stairs connect the units if converting to a single home
- Deep fenced yard with porch and covered backyard patio
- Public water and shingle roof; off‑street parking
Overview
The property sits on a small lot and includes outdoor living areas designed for everyday use. A vibrant front porch looks out over a streetscape lined with live oaks, and there is also a covered backyard patio with additional yard space.
Recent improvements include a fortified roof installed in 2025 and new heating and cooling units for the top floor. With separate entrances and independent layouts, the configuration can support owner-occupancy while maintaining a tenant-ready lower unit. The home is also described as being within walking distance of schools, restaurants, coffee houses, and the Canal Streetcar, with City Park and Bayou St. John nearby.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $50.1k | $19.80 |
| − Vacancy | −$4.3k | −$1.71 |
| EGI | $45.8k | $18.09 |
| − OpEx | −$13.7k | −$5.43 |
| NOI | $32.0k | $12.66 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- New Orleans
- County
- Jefferson
- State
- Louisiana
- Longitude
- -90.101684
- Latitude
- 29.970595
