Duplex with Whole-Home
For Sale
$749,000
Pending
4072 STATE STREET Drive, New Orleans, LA 70125
MULTI_FAMILY - New Orleans, LA
Property Size4,069 SF
Days on Market50
Property Features for 4072 STATE STREET Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Driveway, Off Street
Exterior features
Fence
Fencing
Fenced
Lot features
Corner, Oversized
Subdivision
Fontainebleau
Standard status
Pending
APN
615114105
Size
4,069 SF
Taxes and HOA fees
Tax Description
UP STA EX SQ LOT 34 PTS 32&36 65X97/ 99 4072 STATE ST DR & 4814 WALMSLEY DUP-B FILE #90334
Legal Description
UP STA EX SQ LOT 34 PTS 32&36 65X97/ 99 4072 STATE ST DR & 4814 WALMSLEY DUP-B FILE #90334
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
generator
sprinkler system
Building Details
Year built
1943
Floors in Building
2
Number of units
2
Roof type
Shingle
Listing Agency:
eXp Realty, LLC
(337) 522-7554
Listed By:
Kim Carnegie · License #995681108
(504) 723-1010
Added: Jun 23
Changed: Aug 10
Last Checked: Aug 11 at 10:06PM
MLS# 2564248
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 duplex at 4072 State Street in New Orleans is a 1943-built, wood-floor property featuring 3 bedrooms and 2 bathrooms in each unit. The layouts are designed to feel like two separate single-family homes, with abundant natural light from numerous windows and expansive dining rooms for entertaining. Interior systems and key components have been updated, including new HVAC systems, on-demand water heaters, and a whole-home generator, along with a new roof.
Outdoor space includes beautifully maintained grounds with a sprinkler system for easy upkeep. The property is fenced, and it offers off-street parking on both sides with driveway access. Central heating and central air are in place, and the home is served by public water with a shingle roof.
With its combination of historic character and modern mechanical improvements, the duplex supports owner-occupant use or rental needs where separate living layouts are a priority.
Outdoor space includes beautifully maintained grounds with a sprinkler system for easy upkeep. The property is fenced, and it offers off-street parking on both sides with driveway access. Central heating and central air are in place, and the home is served by public water with a shingle roof.
With its combination of historic character and modern mechanical improvements, the duplex supports owner-occupant use or rental needs where separate living layouts are a priority.
Key Highlights
- 3 bedrooms and 2 bathrooms in each unit
- New HVAC systems, on‑demand water heaters, and whole‑home generator
- New roof plus central heating and central air
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
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 - Duplex featuring 3 bedrooms and 2 bathrooms in each unit, with central HVAC, on-demand water heaters, and a generator.
Where is this duplex located?
The property is located at 4072 STATE STREET Drive 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: 3 bedrooms and 2 bathrooms in each unit; New HVAC systems, on‑demand water heaters, and whole‑home generator; New roof plus central heating and central air
