Occupied Two-Unit
For Sale
$290,000
4008 Piedmont Dr, New Orleans, LA 70122
Two separate residences are currently occupied under existing rental arrangements.
Property Size2,300 SF
Price / SF$126.09
Days on Market13
Property Features for 4008 Piedmont Dr
General Information
Standard status
Active
Size
2,300 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
1 x 2BR, 1 x 1BR
Multifamily Units
2
Listing Agency:
Grayson Realty
(949) 887-2288
Listed By:
Nona Grayson
(949) 887-2288
Source:
Exprealty
Added: Aug 21
Changed: Aug 30
Last Checked: Sep 1 at 11:05PM
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 Grayson Realty
Investment Insights
Based on property information with market context.
This duplex contains approximately 2,300 square feet arranged as two independent residences. The unit mix includes one two-bedroom residence and one one-bedroom residence, providing distinct living spaces within the same property. Both units are currently occupied under existing rental arrangements.
Located at 4008 Piedmont Dr in New Orleans, the property is surrounded by established homes and offers a residential setting. The two-unit layout also supports flexible future use, including living in one residence while renting the other or maintaining separate accommodations for family members.
Located at 4008 Piedmont Dr in New Orleans, the property is surrounded by established homes and offers a residential setting. The two-unit layout also supports flexible future use, including living in one residence while renting the other or maintaining separate accommodations for family members.
Key Highlights
- Two‑unit duplex with approximately 2,300 square feet
- Unit mix includes one 2‑bedroom residence and one 1‑bedroom residence
- Both units are currently occupied
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
$23,829
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
8.22%
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%
$476,580
$476.6K
Cap Rate 7%
$340,414
$340.4K
Cap Rate 9%
$264,767
$264.8K
Market Conditions
NOI Build-Up for 2,300 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
$37.3K $16.20/SF
− Vacancy
−$3.2K −$1.40/SF
EGI
$34.0K $14.80/SF
− OpEx
−$10.2K −$4.44/SF
NOI
$23.8K $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%
$476,580
Cap Rate 7%
$340,414
Cap Rate 9%
$264,767
Alternative Uses
Best Use
Multifamily LT 5
$340.4K
$297.9K – $397.2K
NOI $23,829 @ 7.0% cap · market cap 8.22%
Second Best
Apartment 5plus
$295.7K
$258.7K – $345.0K
NOI $20,698 @ 7.0% cap · market cap 7.14%
Theoretical Best
Office A
$601.8K
$526.6K – $702.2K
NOI $42,129 @ 7.0% cap · market cap 14.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
708
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 are currently occupied under existing rental arrangements.
Where is this duplex located?
The property is located at 4008 Piedmont Dr New Orleans, LA.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Two‑unit duplex with approximately 2,300 square feet; Unit mix includes one 2‑bedroom residence and one 1‑bedroom residence; Both units are currently occupied
