Duplex With Fenced
For Sale
$365,900
3929 31 Octavia Street, New Orleans, LA 70125
Two residential units offer private entries, equipped kitchens, separate laundry areas, and a shared gated outdoor space.
Property Size2,100 SF
Days on Market122
Property Features for 3929 31 Octavia Street
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Multi Family Home
Building Details
Building Size
2,100 SF
Year Built
1929
Stories
2
Tenancy
Multi
Listing Agency:
Community Realestate LLC
(985) 966-0678
Listed By:
Lois Karno · License #000030922
(985) 966-0678
Source:
Nolalivingrealty
Added: Apr 13
Changed: Aug 3
Last Checked: Aug 11 at 1:17PM
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 Community Realestate LLC
Investment Insights
Based on property information with market context.
Built in 1929, this two-unit residential property includes a two-bedroom, one-bath layout in each unit. Both residences feature separate living and dining rooms, hardwood flooring in the living areas and bedrooms, and tiled bathroom floors. Kitchens are equipped with ranges, microwaves, dishwashers, and refrigerators, while individual laundry areas include stackable washers and dryers.
The duplex occupies a corner lot at 3929 31 Octavia Street in New Orleans, with off-street parking accessed through a gate. A large fenced yard provides access to both rear entries, and the outdoor areas include landscaping. The lower unit has front porch access, while the upper unit includes a private patio balcony. Front and rear doors serve both residences.
The duplex occupies a corner lot at 3929 31 Octavia Street in New Orleans, with off-street parking accessed through a gate. A large fenced yard provides access to both rear entries, and the outdoor areas include landscaping. The lower unit has front porch access, while the upper unit includes a private patio balcony. Front and rear doors serve both residences.
Key Highlights
- Two residential units, each with 2 bedrooms and 1 bath
- Built in 1929 on a corner lot at 3929 31 Octavia Street
- Equipped kitchens with range, microwave, dishwasher, and refrigerator in each unit
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
$26,591
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
7.27%
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%
$531,820
$531.8K
Cap Rate 7%
$379,871
$379.9K
Cap Rate 9%
$295,456
$295.5K
Market Conditions
NOI Build-Up for 2,100 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
$41.6K $19.80/SF
− Vacancy
−$3.6K −$1.71/SF
EGI
$38.0K $18.09/SF
− OpEx
−$11.4K −$5.43/SF
NOI
$26.6K $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%
$531,820
Cap Rate 7%
$379,871
Cap Rate 9%
$295,456
Alternative Uses
Best Use
Multifamily LT 5
$379.9K
$332.4K – $443.2K
NOI $26,591 @ 7.0% cap · market cap 7.27%
Second Best
Apartment 5plus
$349.2K
$305.5K – $407.4K
NOI $24,442 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$533.8K
$467.0K – $622.7K
NOI $37,363 @ 7.0% cap · market cap 10.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,087
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 residential units offer private entries, equipped kitchens, separate laundry areas, and a shared gated outdoor space.
Where is this duplex located?
The property is located at 3929 31 Octavia Street New Orleans, LA.
What is the asking price?
The asking price for this property is $365,900.
What are key features of this property?
This property features: Two residential units, each with 2 bedrooms and 1 bath; Built in 1929 on a corner lot at 3929 31 Octavia Street; Equipped kitchens with range, microwave, dishwasher, and refrigerator in each unit
