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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 a***@gmail.com Show Phone

Listed By: Kelsey Altmeyer Show Phone

Added: Oct 12 Last Checked: Oct 15 at 2:06PM

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MLS# 2581206

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 has a cottage architectural style and was built in 1943. Each residence contains one bedroom and one full bathroom. One unit is tenant-occupied; the other is vacant. The property has window-unit cooling, public water, and an asbestos-shingle roof, and is being sold as-is with no seller repairs.

The 0.1377-acre property is next to a canal walking path and minutes from Metairie Road, Barcar, and Hogs Alley.

Key Highlights

• Two units, each with 1 bedroom and 1 full bathroom
• One unit is tenant‑occupied; the other is vacant
• 1,149 square feet on a 0.1377‑acre lot

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$12,287

Cap Rate

4.47%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$245,740 $245.7K

Cap Rate 7%

$175,529 $175.5K

Cap Rate 9%

$136,522 $136.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,149 SF

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 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 (±1% cap)

NOI $12,287 @ 7.0% cap · market cap 4.47%

Second Best

Apartment 5plus

$152.8K

$133.7K – $178.2K (±1% cap)

NOI $10,693 @ 7.0% cap · market cap 3.89%

Theoretical Best

Office A

$269.1K

$235.4K – $313.9K (±1% cap)

NOI $18,835 @ 7.0% cap · market cap 6.85%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Parking Lot & Garage Barber Shop Building Supply Hotel & Motel Food Market Daycare Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - The two-unit property has separate one-bedroom, one-bathroom residences, with one currently vacant.

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 $275,000.

What are key features of this property?

This property features: Two units, each with 1 bedroom and 1 full bathroom; One unit is tenant‑occupied; the other is vacant; 1,149 square feet on a 0.1377‑acre lot