Duplex Building with Mardi Gras
For Sale
$299,000
4011 ST CLAUDE Avenue, New Orleans, LA 70117
MULTI_FAMILY - New Orleans, LA
Property Size1,858 SF
Price / SF$160.93
Days on Market53
Property Features for 4011 ST CLAUDE Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Lot features
Regular
Standard status
Active
APN
4011-STCLAUDEAV
Size
1,858 SF
Taxes and HOA fees
Tax Description
1. SQ 411 LOT 3 2. 29X117 3. 4011-11HF ST CLAUDE AVE
Legal Description
1. SQ 411 LOT 3 2. 29X117 3. 4011-11HF ST CLAUDE AVE
Utilities
Heating system
Central
Cooling system
Central Air, Window Unit(s)
Water source
Public
Building Details
Year built
1937
Floors in Building
1
Number of units
2
Roof type
Shingle, Asphalt
Listing Agency:
Keller Williams Realty New Orleans
(504) 862-0100
Listed By:
James Howell · License #000033645
(504) 982-5921
Added: Jul 13
Changed: Aug 11
Last Checked: Sep 3 at 2:06PM
MLS# 2567483
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.
Investment Insights
Based on property information with market context.
This duplexes-classified property is a 1,858-square-foot building originally built in 1937. The home is served by central heating and offers cooling via central air plus window unit(s). Water is provided by public source, and the roof is made of asphalt shingle materials.
The property is located at 4011 St Claude Avenue in New Orleans and sits along the Historic St. Claude Avenue corridor with prominent corner presence. The building features an original mural of Mardi Gras Indian Queen Tahj, which serves as a distinctive landmark. The area is described as minutes from the French Quarter and Frenchmen Street, and near Crescent Park, with access to restaurants, cafes, galleries, and neighborhood businesses.
The existing layout includes separate leasing spaces, and the property has been positioned for conversion into a spacious double or multi-family residence subject to zoning, approvals, and permitting. Buyers should verify zoning, permitted uses, and all conversion requirements with the City of New Orleans.
The property is located at 4011 St Claude Avenue in New Orleans and sits along the Historic St. Claude Avenue corridor with prominent corner presence. The building features an original mural of Mardi Gras Indian Queen Tahj, which serves as a distinctive landmark. The area is described as minutes from the French Quarter and Frenchmen Street, and near Crescent Park, with access to restaurants, cafes, galleries, and neighborhood businesses.
The existing layout includes separate leasing spaces, and the property has been positioned for conversion into a spacious double or multi-family residence subject to zoning, approvals, and permitting. Buyers should verify zoning, permitted uses, and all conversion requirements with the City of New Orleans.
Key Highlights
- 1,858‑square‑foot duplex building built in 1937
- Central heating plus central air and window unit(s)
- Original mural of Mardi Gras Indian Queen Tahj
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
$23,527
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
7.87%
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%
$470,540
$470.5K
Cap Rate 7%
$336,100
$336.1K
Cap Rate 9%
$261,411
$261.4K
Market Conditions
NOI Build-Up for 1,858 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
$36.8K $19.80/SF
− Vacancy
−$3.2K −$1.71/SF
EGI
$33.6K $18.09/SF
− OpEx
−$10.1K −$5.43/SF
NOI
$23.5K $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%
$470,540
Cap Rate 7%
$336,100
Cap Rate 9%
$261,411
Alternative Uses
Best Use
Multifamily LT 5
$336.1K
$294.1K – $392.1K
NOI $23,527 @ 7.0% cap · market cap 7.87%
Second Best
Apartment 5plus
$308.9K
$270.3K – $360.4K
NOI $21,625 @ 7.0% cap · market cap 7.23%
Theoretical Best
Office A
$472.2K
$413.2K – $551.0K
NOI $33,057 @ 7.0% cap · market cap 11.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
879
Businesses Nearby
Explore this area
Business Placement
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
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 - Duplex-style building with central heating and central air, plus window units and an original Mardi Gras Indian Queen mural.
Where is this duplex located?
The property is located at 4011 ST CLAUDE Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 1,858‑square‑foot duplex building built in 1937; Central heating plus central air and window unit(s); Original mural of Mardi Gras Indian Queen Tahj
