Architect-Designed
For Sale
$749,000
4072 State Street Dr, New Orleans, LA 70125
Two spacious residences feature three bedrooms, two bathrooms, wood floors, and updated mechanical systems in each unit.
Property Size4,069 SF
Price / SF$184.07
Days on Market53
Property Features for 4072 State Street Dr
General Information
Standard status
Active
Size
4,069 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Sprinkler System
Yes
Listing Agency:
eXp Realty, LLC
(504) 723-1010
Listed By:
Kim Carnegie · License #995681108
(504) 723-1010
Source:
Exprealty
Added: Jun 23
Changed: Aug 14
Last Checked: Aug 14 at 3:46AM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
This 4,069-square-foot duplex was designed by naval architect Vladimir Friede in the 1940s and includes two separately arranged residences. Each unit offers three bedrooms and two bathrooms, with generous interiors, abundant windows, historic wood flooring, distinctive architectural detailing, and large dining rooms. The property has been carefully maintained while receiving several practical updates, including new HVAC systems, on-demand water heaters, a whole-home generator, and a new roof.
Exterior features include maintained grounds with an installed sprinkler system and off-street parking on both sides of the property. The combination of two substantial residential layouts, preserved architectural elements, and updated building systems creates a distinctive multifamily asset in New Orleans.
Exterior features include maintained grounds with an installed sprinkler system and off-street parking on both sides of the property. The combination of two substantial residential layouts, preserved architectural elements, and updated building systems creates a distinctive multifamily asset in New Orleans.
Key Highlights
- 4,069‑square‑foot duplex designed by naval architect Vladimir Friede in the 1940s
- Two units, each with 3 bedrooms and 2 bathrooms
- New HVAC systems, on‑demand water heaters, whole‑home generator, and new roof
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
$51,524
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
6.88%
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%
$1,030,480
$1.0M
Cap Rate 7%
$736,057
$736.1K
Cap Rate 9%
$572,489
$572.5K
Market Conditions
NOI Build-Up for 4,069 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
$80.6K $19.80/SF
− Vacancy
−$7.0K −$1.71/SF
EGI
$73.6K $18.09/SF
− OpEx
−$22.1K −$5.43/SF
NOI
$51.5K $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%
$1,030,480
Cap Rate 7%
$736,057
Cap Rate 9%
$572,489
Alternative Uses
Best Use
Multifamily LT 5
$736.1K
$644.1K – $858.7K
NOI $51,524 @ 7.0% cap · market cap 6.88%
Second Best
Apartment 5plus
$676.5K
$592.0K – $789.3K
NOI $47,358 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$1.03M
$904.9K – $1.21M
NOI $72,394 @ 7.0% cap · market cap 9.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,248
Businesses Nearby
Explore this area
Business Placement
Demographics for 70125, LA
17,457
Population
7,972
Households
2.2
Avg Household Size
33
Median Age
46%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
7,590
Density / Sq Mi
$58,956
Median Household Income
$39,623
Median Earnings
$1,292
Median Rent
$428,600
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 - Two spacious residences feature three bedrooms, two bathrooms, wood floors, and updated mechanical systems in each unit.
Where is this duplex located?
The property is located at 4072 State Street Dr New Orleans, LA.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 4,069‑square‑foot duplex designed by naval architect Vladimir Friede in the 1940s; Two units, each with 3 bedrooms and 2 bathrooms; New HVAC systems, on‑demand water heaters, whole‑home generator, and new roof
