Two-Unit Cottage
New
For Sale
$279,000
411 NURSERY Avenue, Metairie, LA 70005
MULTI_FAMILY - Metairie, LA
Property Size1,149 SF
Lot Size0.14 Acres
Price / SF$242.82
Days on Market7
Property Features for 411 NURSERY Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Lot features
Regular
Standard status
Active
APN
0820016977
Size
1,149 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Description
LOTS 39 40 SQ 17 10751834 METAIRIE RIDGE NURSERY 9804902
Legal Description
LOTS 39 40 SQ 17 10751834 METAIRIE RIDGE NURSERY 9804902
Utilities
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1943
Floors in Building
1
Number of units
2
Roof type
Asbestos Shingle
Architectural style
Cottage
Listing Agency:
Century 21 J. Carter & Company · Century 21 Real Estate
(504) 810-2825
Listed By:
Kelsey Altmeyer
(504) 439-1530
Added: Aug 6
Last Checked: Aug 12 at 2:06PM
MLS# 2571279
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 1,149-square-foot duplex contains two one-bedroom, one-bath units within a cottage-style structure built in 1943. One unit is occupied and the other is vacant, offering a property with both current occupancy and available space. The building has window unit cooling, public water service, and an asbestos shingle roof.
The property sits next to a canal walking path and is minutes from Metairie Road, Barcar, Hogs Alley, shopping, dining, and everyday conveniences. The 0.1377-acre site is being sold as-is, with the seller making no repairs.
The property sits next to a canal walking path and is minutes from Metairie Road, Barcar, Hogs Alley, shopping, dining, and everyday conveniences. The 0.1377-acre site is being sold as-is, with the seller making no repairs.
Key Highlights
- Two 1‑bedroom, 1‑bath units in a 1,149‑square‑foot duplex
- One unit occupied; the second unit is vacant
- 0.1377‑acre site next to a canal walking path
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
$12,287
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
4.40%
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%
$245,740
$245.7K
Cap Rate 7%
$175,529
$175.5K
Cap Rate 9%
$136,522
$136.5K
Market Conditions
NOI Build-Up for 1,149 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
$18.6K $16.20/SF
− Vacancy
−$1.1K −$0.92/SF
EGI
$17.6K $15.28/SF
− OpEx
−$5.3K −$4.58/SF
NOI
$12.3K $10.69/SF
Area
Metairie, LA
Vacancy
5.70%
Lease Rate
$16.20 /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%
$245,740
Cap Rate 7%
$175,529
Cap Rate 9%
$136,522
Alternative Uses
Best Use
Multifamily LT 5
$175.5K
$153.6K – $204.8K
NOI $12,287 @ 7.0% cap · market cap 4.40%
Second Best
Apartment 5plus
$152.8K
$133.7K – $178.2K
NOI $10,693 @ 7.0% cap · market cap 3.83%
Theoretical Best
Office A
$269.1K
$235.4K – $313.9K
NOI $18,835 @ 7.0% cap · market cap 6.75%
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
1,028
Businesses Nearby
Explore this area
Business Placement
Demographics for 70005, LA
25,431
Population
12,447
Households
2
Avg Household Size
45
Median Age
50%
College-Educated
94%
High-School Grad
4.2 sq mi
ZIP Area
6,055
Density / Sq Mi
$86,048
Median Household Income
$53,258
Median Earnings
$1,160
Median Rent
$381,000
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 residential units include one occupied side and one vacancy, alongside a canal walking path.
Where is this duplex located?
The property is located at 411 NURSERY Avenue Metairie, LA.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Two 1‑bedroom, 1‑bath units in a 1,149‑square‑foot duplex; One unit occupied; the second unit is vacant; 0.1377‑acre site next to a canal walking path
