Historic Duplex with Covered
New
For Sale
$570,000
4143-45 45 Iberville St, New Orleans, LA 70119
Two well-appointed units offer flexible owner-occupant or rental use in New Orleans’ Mid-City neighborhood.
Property Size2,634 SF
Price / SF$216.40
Days on Market3
Property Features for 4143-45 45 Iberville St
General Information
Standard status
Active
Size
2,634 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
covered entertainment area
hot tub
storage shed
off-street parking
indoor laundry
outside laundry
Building Details
Year Built
1920
Buildings
1
Listing Agency:
Christian Shane Properties
(504) 208-5688
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Sep 14
Changed: Sep 15
Last Checked: Sep 15 at 6:38AM
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 Christian Shane Properties
Investment Insights
Based on property information with market context.
Built in 1920, this 2,634-square-foot duplex includes two separate two-bedroom, one-and-a-half-bath units. Both residences feature 12-foot ceilings and fresh paint. The larger 4143 unit includes hardwood flooring, quartz countertops, an oversized range and oven, vent hood, beverage cooler, central HVAC, and indoor laundry. The 4145 unit has exterior laundry and access to the backyard.
Outdoor improvements include a covered entertaining area, hot tub, off-street parking, and a storage shed. Sewer and supply lines were replaced in 2015. The property is positioned in Mid-City near restaurants, bars, shops, groceries, and other daily conveniences, with City Park accessible on foot or by bicycle. Canal Street streetcar service provides access toward the French Quarter, while the property also sits near the Endymion Parade Route.
Outdoor improvements include a covered entertaining area, hot tub, off-street parking, and a storage shed. Sewer and supply lines were replaced in 2015. The property is positioned in Mid-City near restaurants, bars, shops, groceries, and other daily conveniences, with City Park accessible on foot or by bicycle. Canal Street streetcar service provides access toward the French Quarter, while the property also sits near the Endymion Parade Route.
Key Highlights
- 2,634 SF duplex built in 1920
- Two 2‑bedroom, 1.5‑bath units with 12‑ft ceilings
- 4143 unit includes quartz counters, central HVAC, indoor laundry, and hardwood floors
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
$33,353
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
5.85%
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%
$667,060
$667.1K
Cap Rate 7%
$476,471
$476.5K
Cap Rate 9%
$370,589
$370.6K
Market Conditions
NOI Build-Up for 2,634 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
$52.2K $19.80/SF
− Vacancy
−$4.5K −$1.71/SF
EGI
$47.6K $18.09/SF
− OpEx
−$14.3K −$5.43/SF
NOI
$33.4K $12.66/SF
Area
ZIP 70119
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%
$667,060
Cap Rate 7%
$476,471
Cap Rate 9%
$370,589
Alternative Uses
Best Use
Multifamily LT 5
$476.5K
$416.9K – $555.9K
NOI $33,353 @ 7.0% cap · market cap 5.85%
Second Best
Apartment 5plus
$438.0K
$383.2K – $511.0K
NOI $30,657 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$689.2K
$603.1K – $804.1K
NOI $48,246 @ 7.0% cap · market cap 8.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,070
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
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 well-appointed units offer flexible owner-occupant or rental use in New Orleans’ Mid-City neighborhood.
Where is this duplex located?
The property is located at 4143-45 45 Iberville St New Orleans, LA.
What is the asking price?
The asking price for this property is $570,000.
What are key features of this property?
This property features: 2,634 SF duplex built in 1920; Two 2‑bedroom, 1.5‑bath units with 12‑ft ceilings; 4143 unit includes quartz counters, central HVAC, indoor laundry, and hardwood floors
