Two-Level Quadplex with Outdoor
For Sale
$689,000
4101 03 Dauphine St, New Orleans, LA 70117
Corner-lot property offers four residences, separate laundry areas, storage, and shared outdoor space.
Property Size3,720 SF
Price / SF$185.22
Days on Market41
Property Features for 4101 03 Dauphine St
General Information
Standard status
Active
Size
3,720 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x shotgun-style, 1 x shotgun-style, 1 x one-bedroom
Multifamily Units
4
Amenities
laundry
storage
patio
green space
Building Details
Year Built
1900
Buildings
1
Stories
2
Construction
shotgun-style
Listing Agency:
Crane Realtors
(504) 210-2014
Listed By:
Aaron Dare · License #995681183
Source:
Dominionplace
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 29 at 12:32PM
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 Crane Realtors
Investment Insights
Based on property information with market context.
Built in 1900, this New Orleans quadplex contains four units arranged over two levels. The upper residences feature shotgun-style layouts with wood flooring, high ceilings, and substantial natural light. Downstairs, one shotgun unit is paired with a separate one-bedroom residence, creating a varied unit mix and direct access to shared exterior areas.
A large basement provides laundry service for the lower units and additional storage, while the upper residences have a separate laundry area. The property also includes a rear patio, green space, and rear-yard-accessible off-street parking. Located on a corner lot along Dauphine Street in the Bywater, the property is near restaurants, coffee shops, and the Mississippi River.
A large basement provides laundry service for the lower units and additional storage, while the upper residences have a separate laundry area. The property also includes a rear patio, green space, and rear-yard-accessible off-street parking. Located on a corner lot along Dauphine Street in the Bywater, the property is near restaurants, coffee shops, and the Mississippi River.
Key Highlights
- Four units arranged across two levels
- 1900 construction year
- Upper units feature shotgun layouts, wood floors, tall ceilings, and abundant natural light
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
$47,104
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
6.84%
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%
$942,080
$942.1K
Cap Rate 7%
$672,914
$672.9K
Cap Rate 9%
$523,378
$523.4K
Market Conditions
NOI Build-Up for 3,720 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
$73.7K $19.80/SF
− Vacancy
−$6.4K −$1.71/SF
EGI
$67.3K $18.09/SF
− OpEx
−$20.2K −$5.43/SF
NOI
$47.1K $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%
$942,080
Cap Rate 7%
$672,914
Cap Rate 9%
$523,378
Alternative Uses
Best Use
Multifamily LT 5
$672.9K
$588.8K – $785.1K
NOI $47,104 @ 7.0% cap · market cap 6.84%
Second Best
Apartment 5plus
$618.5K
$541.2K – $721.6K
NOI $43,296 @ 7.0% cap · market cap 6.28%
Theoretical Best
Office A
$945.5K
$827.3K – $1.10M
NOI $66,185 @ 7.0% cap · market cap 9.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
781
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?
Quadplex - Corner-lot property offers four residences, separate laundry areas, storage, and shared outdoor space.
Where is this quadplex located?
The property is located at 4101 03 Dauphine St New Orleans, LA.
What is the asking price?
The asking price for this property is $689,000.
What are key features of this property?
This property features: Four units arranged across two levels; 1900 construction year; Upper units feature shotgun layouts, wood floors, tall ceilings, and abundant natural light
