Flexible Duplex with Two
For Sale
$324,500
4011 13 Franklin Ave, New Orleans, LA 70122
Currently arranged as one residence, the property can be reconfigured for side-by-side living with separate kitchens and living areas.
Property Size1,728 SF
Price / SF$187.79
Days on Market44
Property Features for 4011 13 Franklin Ave
General Information
Standard status
Active
Size
1,728 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1935
Buildings
1
Listing Agency:
Greenup & Associates, LLC
(504) 945-4884
Listed By:
Rodney Greenup · License #000038311
Source:
Fiorellaavenue
Added: Jul 20
Changed: Aug 27
Last Checked: Aug 31 at 6:33PM
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 Greenup & Associates, LLC
Investment Insights
Based on property information with market context.
This 1,728-square-foot duplex, built in 1935, is presently arranged as one large residence and retains a layout suited to conversion into two side-by-side units. The property includes four bedrooms, two full bathrooms, two kitchens, and two living rooms, providing a flexible configuration for residential use. Off-street parking and a deep lot add practical site features.
Located at 4011 13 Franklin Avenue in New Orleans, the property is near LSU-NO, SUNO, and Dillard University. I-10 and I-610 are also accessible for regional travel, with schools, shopping, and everyday services nearby.
Located at 4011 13 Franklin Avenue in New Orleans, the property is near LSU-NO, SUNO, and Dillard University. I-10 and I-610 are also accessible for regional travel, with schools, shopping, and everyday services nearby.
Key Highlights
- 1,728‑square‑foot duplex built in 1935
- Four bedrooms and two full bathrooms
- Two kitchens and two living rooms
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
$17,902
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
5.52%
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%
$358,040
$358.0K
Cap Rate 7%
$255,743
$255.7K
Cap Rate 9%
$198,911
$198.9K
Market Conditions
NOI Build-Up for 1,728 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
$28.0K $16.20/SF
− Vacancy
−$2.4K −$1.40/SF
EGI
$25.6K $14.80/SF
− OpEx
−$7.7K −$4.44/SF
NOI
$17.9K $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%
$358,040
Cap Rate 7%
$255,743
Cap Rate 9%
$198,911
Alternative Uses
Best Use
Multifamily LT 5
$255.7K
$223.8K – $298.4K
NOI $17,902 @ 7.0% cap · market cap 5.52%
Second Best
Apartment 5plus
$222.1K
$194.4K – $259.2K
NOI $15,550 @ 7.0% cap · market cap 4.79%
Theoretical Best
Office A
$452.2K
$395.6K – $527.5K
NOI $31,651 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
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 - Currently arranged as one residence, the property can be reconfigured for side-by-side living with separate kitchens and living areas.
Where is this duplex located?
The property is located at 4011 13 Franklin Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $324,500.
What are key features of this property?
This property features: 1,728‑square‑foot duplex built in 1935; Four bedrooms and two full bathrooms; Two kitchens and two living rooms
