Duplex with Front
For Sale
$395,000
4132-34 Constance Street, New Orleans, LA 70115
Each residence includes two bedrooms, two full baths, and a private washer/dryer.
Property Size1,658 SF
Price / SF$238.24
Days on Market206
Property Features for 4132-34 Constance Street
General Information
Standard status
Active
Size
1,658 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Amenities
hardwood floors
high ceilings
front porch
private washer/dryer
back courtyard
Central Air
Central
1
4
In Unit
Other
Pillar/Post/Pier
Frame, Wood Siding
Porch
Building Details
Year Built
1903
Buildings
1
Listing Agency:
Berkshire Hathaway HomeServices Preferred, REALTOR
Listed By:
Kim Davis · License #995698377
(504) 544-2282
Source:
Compass
Added: Feb 8
Changed: Sep 2
Last Checked: Aug 31 at 10:10PM
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 Berkshire Hathaway HomeServices Preferred, REALTOR
Investment Insights
Based on property information with market context.
Built in 1903, this 1658-square-foot duplex contains two separate residences within a classic New Orleans frame design. The property has four bedrooms and four full bathrooms overall, with each side arranged around two bedrooms, two baths, a private washer/dryer, and a back courtyard. Mid-house kitchens support an efficient connection between living areas and entertaining spaces. Hardwood floors, high ceilings, a front porch, wood siding, and pillar/post/pier construction add architectural character.
Located at 4132-34 Constance Street in New Orleans, the property sits near Magazine Street, with dining, shopping, coffee shops, nightlife, parks, and neighborhood amenities nearby. The two-unit configuration supports either an investment-focused ownership strategy or an owner-occupant arrangement with one residence available for rental.
Located at 4132-34 Constance Street in New Orleans, the property sits near Magazine Street, with dining, shopping, coffee shops, nightlife, parks, and neighborhood amenities nearby. The two-unit configuration supports either an investment-focused ownership strategy or an owner-occupant arrangement with one residence available for rental.
Key Highlights
- 1658‑square‑foot duplex built in 1903
- Four bedrooms and four full bathrooms overall
- Each side has 2 bedrooms and 2 baths
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
$14,251
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
3.61%
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%
$285,020
$285.0K
Cap Rate 7%
$203,586
$203.6K
Cap Rate 9%
$158,344
$158.3K
Market Conditions
NOI Build-Up for 1,658 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
$22.3K $13.44/SF
− Vacancy
−$1.9K −$1.16/SF
EGI
$20.4K $12.28/SF
− OpEx
−$6.1K −$3.68/SF
NOI
$14.3K $8.60/SF
Area
ZIP 70115
Vacancy
8.64%
Lease Rate
$13.44 /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%
$285,020
Cap Rate 7%
$203,586
Cap Rate 9%
$158,344
Alternative Uses
Best Use
Multifamily LT 5
$203.6K
$178.1K – $237.5K
NOI $14,251 @ 7.0% cap · market cap 3.61%
Second Best
Apartment 5plus
$180.5K
$157.9K – $210.6K
NOI $12,633 @ 7.0% cap · market cap 3.20%
Theoretical Best
Office A
$437.4K
$382.8K – $510.3K
NOI $30,620 @ 7.0% cap · market cap 7.75%
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
2,537
Businesses Nearby
Explore this area
Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
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 - Each residence includes two bedrooms, two full baths, and a private washer/dryer.
Where is this duplex located?
The property is located at 4132-34 Constance Street New Orleans, LA.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 1658‑square‑foot duplex built in 1903; Four bedrooms and four full bathrooms overall; Each side has 2 bedrooms and 2 baths
