Duplex with Slate
For Sale
$649,000
400 Millaudon Street, New Orleans, LA 70118
Two spacious residences offer matching bedroom and bathroom layouts, updated kitchens, hardwood floors, and private driveway parking.
Property Size3,400 SF
Price / SF$190.88
Days on Market427
Property Features for 400 Millaudon Street
General Information
Standard status
Active
Size
3,400 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Amenities
Central Air
Central
1
4
Slate
Courtyard
Pillar/Post/Pier
HardiPlank Type
Porch
Building Details
Year Built
1930
Listing Agency:
1% Lists Realty Professionals
(504) 301-7722
Listed By:
Cody Leboeuf · License #995703462
(504) 301-7722
Source:
Compass
Added: Jul 1, 2025
Changed: Aug 30
Last Checked: Aug 30 at 4:56PM
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 1% Lists Realty Professionals
Investment Insights
Based on property information with market context.
Built in 1930, this 3,400-square-foot duplex contains two residences, each with 2 bedrooms and 2 full bathrooms. Both sides also include a den and sunroom, along with spacious rooms, tall ceilings, hardwood flooring, and no carpet. Kitchens are finished with granite countertops and stainless steel appliances. A Vermont natural slate roof, covered porch, courtyard, and off-street driveway parking add to the property’s physical features.
The duplex occupies a corner lot at 400 Millaudon Street in New Orleans. It is 2 blocks from St. Charles Avenue and minutes from Audubon Park, Loyola University, Tulane University, and the St. Charles streetcar line. The property is designated Flood Zone X.
The duplex occupies a corner lot at 400 Millaudon Street in New Orleans. It is 2 blocks from St. Charles Avenue and minutes from Audubon Park, Loyola University, Tulane University, and the St. Charles streetcar line. The property is designated Flood Zone X.
Key Highlights
- 3,400‑square‑foot duplex built in 1930
- Two residences, each with 2 bedrooms, 2 full bathrooms, a den, and a sunroom
- Granite‑counter kitchens with stainless steel appliances
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
$43,052
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
6.63%
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%
$861,040
$861.0K
Cap Rate 7%
$615,029
$615.0K
Cap Rate 9%
$478,356
$478.4K
Market Conditions
NOI Build-Up for 3,400 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
$67.3K $19.80/SF
− Vacancy
−$5.8K −$1.71/SF
EGI
$61.5K $18.09/SF
− OpEx
−$18.5K −$5.43/SF
NOI
$43.1K $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%
$861,040
Cap Rate 7%
$615,029
Cap Rate 9%
$478,356
Alternative Uses
Best Use
Multifamily LT 5
$615.0K
$538.2K – $717.5K
NOI $43,052 @ 7.0% cap · market cap 6.63%
Second Best
Apartment 5plus
$565.3K
$494.7K – $659.5K
NOI $39,572 @ 7.0% cap · market cap 6.10%
Theoretical Best
Office A
$864.2K
$756.2K – $1.01M
NOI $60,492 @ 7.0% cap · market cap 9.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,152
Businesses Nearby
Explore this area
Business Placement
Demographics for 70118, LA
35,635
Population
15,464
Households
2.3
Avg Household Size
31
Median Age
54%
College-Educated
92%
High-School Grad
4.6 sq mi
ZIP Area
7,747
Density / Sq Mi
$62,665
Median Household Income
$28,199
Median Earnings
$1,257
Median Rent
$451,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two spacious residences offer matching bedroom and bathroom layouts, updated kitchens, hardwood floors, and private driveway parking.
Where is this duplex located?
The property is located at 400 Millaudon Street New Orleans, LA.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 3,400‑square‑foot duplex built in 1930; Two residences, each with 2 bedrooms, 2 full bathrooms, a den, and a sunroom; Granite‑counter kitchens with stainless steel appliances
