Renovated Duplex with Separate
For Sale
$549,000
407 Dodge Ave, Jefferson, LA 70121
Fully updated duplex with a spacious primary residence, private second unit, and outdoor areas for occupants.
Property Size1,778 SF
Price / SF$308.77
Days on Market10
Property Features for 407 Dodge Ave
General Information
Standard status
Active
Size
1,778 SF
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Amenities
off-street parking
rear yard
courtyard
balcony
in-unit washer/dryer
Building Details
Year Built
1920
Buildings
1
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
(504) 650-6650
Listed By:
Simone Soignet · License #000008892
Source:
Dominionplace
Added: Aug 21
Changed: Aug 29
Last Checked: Aug 29 at 6:52PM
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 KELLER WILLIAMS REALTY 455-0100
Investment Insights
Based on property information with market context.
Built in 1920, this 1,778-square-foot duplex combines preserved period details with a comprehensive interior and systems renovation. The primary residence offers a large living and dining area, three bedrooms, two remodeled bathrooms, a new kitchen, separate vehicle parking, and a shaded rear yard. The upper residence includes a living room, office, kitchen, in-unit washer and dryer, walk-in closet, private entry, courtyard access, and an upper balcony. Separate electric meters serve the two units.
Renovations include a new Owens Corning Duration shingle roof, gutters, sheetrock, insulation with sound barriers, electrical improvements, LED lighting, updated plumbing, a new gas water heater upstairs, a tankless gas water heater downstairs, and two new Goodman central HVAC systems. The property is located three blocks from River Road and the Mississippi River levee path in Old Jefferson, designated X flood, with nearby access to Ochsner Hospital Main Campus, medical centers, and law and medical schools.
Renovations include a new Owens Corning Duration shingle roof, gutters, sheetrock, insulation with sound barriers, electrical improvements, LED lighting, updated plumbing, a new gas water heater upstairs, a tankless gas water heater downstairs, and two new Goodman central HVAC systems. The property is located three blocks from River Road and the Mississippi River levee path in Old Jefferson, designated X flood, with nearby access to Ochsner Hospital Main Campus, medical centers, and law and medical schools.
Key Highlights
- 1,778‑square‑foot duplex built in 1920
- Primary unit includes 3 bedrooms, 2 remodeled bathrooms, new kitchen, parking, and a shaded rear yard
- Upper unit offers a living room, separate office, kitchen, washer/dryer, walk‑in closet, courtyard, and balcony
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
$22,514
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
4.10%
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%
$450,280
$450.3K
Cap Rate 7%
$321,629
$321.6K
Cap Rate 9%
$250,156
$250.2K
Market Conditions
NOI Build-Up for 1,778 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
$35.2K $19.80/SF
− Vacancy
−$3.0K −$1.71/SF
EGI
$32.2K $18.09/SF
− OpEx
−$9.6K −$5.43/SF
NOI
$22.5K $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%
$450,280
Cap Rate 7%
$321,629
Cap Rate 9%
$250,156
Alternative Uses
Best Use
Multifamily LT 5
$321.6K
$281.4K – $375.2K
NOI $22,514 @ 7.0% cap · market cap 4.10%
Second Best
Apartment 5plus
$295.6K
$258.7K – $344.9K
NOI $20,694 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$451.9K
$395.4K – $527.2K
NOI $31,634 @ 7.0% cap · market cap 5.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
903
Businesses Nearby
Explore this area
Business Placement
Demographics for 70121, LA
11,523
Population
6,415
Households
1.8
Avg Household Size
46
Median Age
36%
College-Educated
88%
High-School Grad
3.3 sq mi
ZIP Area
3,492
Density / Sq Mi
$59,029
Median Household Income
$40,151
Median Earnings
$1,113
Median Rent
$237,200
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 - Fully updated duplex with a spacious primary residence, private second unit, and outdoor areas for occupants.
Where is this duplex located?
The property is located at 407 Dodge Ave Jefferson, LA.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: 1,778‑square‑foot duplex built in 1920; Primary unit includes 3 bedrooms, 2 remodeled bathrooms, new kitchen, parking, and a shaded rear yard; Upper unit offers a living room, separate office, kitchen, washer/dryer, walk‑in closet, courtyard, and balcony
