Renovated Historic
New
For Sale
$549,000
407 DODGE Avenue, Jefferson, LA 70121
Multi-Family, Cottage, Jefferson, LA
Property Size1,778 SF
Lot Size0.17 Acres
Price / SF$308.77
Days on Market6
Property Features for 407 DODGE Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Driveway
Patio and Porch features
Porch
Exterior features
Balcony, Porch
Lot features
Oversized
Standard status
Active
APN
0700004163
Size
1,778 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
LOTS 63 & 64 SQ 3 JEFFERSON HGTS
Legal Description
LOTS 63 & 64 SQ 3 JEFFERSON HGTS
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
in-unit washer/dryer
private entrance
courtyard
balcony
tree-shaded rear yard
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Architectural style
Cottage
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
(504) 455-0100
Listed By:
Simone Soignet · License #000008892
(504) 650-6650
Added: Aug 17
Changed: Aug 20
Last Checked: Aug 22 at 9:06AM
MLS# 2572738
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 1920 cottage-style duplex contains a spacious primary residence and a separate upstairs unit. The lower home offers a large living and dining area, three bedrooms, two bathrooms, a new kitchen, dedicated driveway parking, and a tree-shaded rear yard. The upper residence includes a living room, office, kitchen, walk-in closet, in-unit laundry, private access, a courtyard, and a balcony. Separate electric meters support independent occupancy.
A comprehensive renovation brought new sheetrock, insulation with sound barriers, electrical updates, LED lighting, plumbing improvements, a new shingle roof, gutters, and two Goodman central HVAC systems. Original details, including antique doors, vintage hardware, and refinished hardwood floors, remain part of the interior character. The property is supplied by public water and is located at 407 DODGE Avenue in Jefferson, near River Road, the Mississippi River levee path, Ochsner Hospital Main Campus, and Dr John Ochsner Discovery Health Sciences Academy.
A comprehensive renovation brought new sheetrock, insulation with sound barriers, electrical updates, LED lighting, plumbing improvements, a new shingle roof, gutters, and two Goodman central HVAC systems. Original details, including antique doors, vintage hardware, and refinished hardwood floors, remain part of the interior character. The property is supplied by public water and is located at 407 DODGE Avenue in Jefferson, near River Road, the Mississippi River levee path, Ochsner Hospital Main Campus, and Dr John Ochsner Discovery Health Sciences Academy.
Key Highlights
- Two‑unit property with 1,778 Square Feet of building area
- 0.1722‑acre lot with driveway parking and a shaded rear yard
- 1920 cottage‑style construction with preserved historic interior details
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
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences combine updated systems, private entrances, outdoor space, and flexible owner-occupant or rental use.
Where is this duplex located?
The property is located at 407 DODGE Avenue 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: Two‑unit property with 1,778 Square Feet of building area; 0.1722‑acre lot with driveway parking and a shaded rear yard; 1920 cottage‑style construction with preserved historic interior details
