Renovated Triplex with
For Sale
$899,000
418 20 Henry Clay Ave, New Orleans, LA 70118
Three residential units include two one-bedroom layouts and a separate rear studio.
Property Size2,122 SF
Price / SF$423.66
Days on Market35
Property Features for 418 20 Henry Clay Ave
General Information
Standard status
Active
Size
2,122 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR, 1 x studio
Multifamily Units
3
Amenities
hardwood floors
exposed beams
brick fireplaces
custom kitchens
granite countertops
high end appliances
walk-in closets
laundry in all units
Building Details
Year Built
1900
Listing Agency:
McEnery Residential, LLC
(504) 259-2561
Listed By:
Lesley Poche · License #000017799
Source:
Dominionplace
Added: Jul 26
Changed: Aug 28
Last Checked: Aug 29 at 11:38AM
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 McEnery Residential, LLC
Investment Insights
Based on property information with market context.
This 2,122-square-foot triplex, built in 1900, contains two one-bedroom units and an independent rear studio. Renovated interiors retain hardwood floors, exposed beams beneath tall ceilings, and brick fireplaces. Updated kitchens feature custom cabinetry, granite countertops, and high-end appliances, while each unit includes laundry facilities and walk-in closets.
The property is located at 418 20 Henry Clay Ave in New Orleans, two blocks from Audubon Park. The rear studio includes a bedroom-living area, kitchenette, full bathroom, and laundry. It is currently rented, and the studio shares an electrical meter with the main 418 unit. The rear space can also function as a home office or guest suite.
The property is located at 418 20 Henry Clay Ave in New Orleans, two blocks from Audubon Park. The rear studio includes a bedroom-living area, kitchenette, full bathroom, and laundry. It is currently rented, and the studio shares an electrical meter with the main 418 unit. The rear space can also function as a home office or guest suite.
Key Highlights
- 2,122 SF triplex built in 1900
- Two one‑bedroom units plus a separate rear studio
- Renovated kitchens with custom cabinetry, granite countertops, and high‑end appliances
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
$26,870
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
2.99%
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%
$537,400
$537.4K
Cap Rate 7%
$383,857
$383.9K
Cap Rate 9%
$298,556
$298.6K
Market Conditions
NOI Build-Up for 2,122 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
$42.0K $19.80/SF
− Vacancy
−$3.6K −$1.71/SF
EGI
$38.4K $18.09/SF
− OpEx
−$11.5K −$5.43/SF
NOI
$26.9K $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%
$537,400
Cap Rate 7%
$383,857
Cap Rate 9%
$298,556
Alternative Uses
Best Use
Multifamily LT 5
$383.9K
$335.9K – $447.8K
NOI $26,870 @ 7.0% cap · market cap 2.99%
Second Best
Apartment 5plus
$352.8K
$308.7K – $411.6K
NOI $24,698 @ 7.0% cap · market cap 2.75%
Theoretical Best
Office A
$539.3K
$471.9K – $629.2K
NOI $37,754 @ 7.0% cap · market cap 4.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,264
Businesses Nearby
Explore this area
Business Placement
Demographics for 70118, LA
35,635
Population
15,464
Households
2.3
Avg Household Size
31
Median Age
54%
College-Educated
92%
High-School Grad
4.6 sq mi
ZIP Area
7,747
Density / Sq Mi
$62,665
Median Household Income
$28,199
Median Earnings
$1,257
Median Rent
$451,600
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?
Triplex - Three residential units include two one-bedroom layouts and a separate rear studio.
Where is this triplex located?
The property is located at 418 20 Henry Clay Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 2,122 SF triplex built in 1900; Two one‑bedroom units plus a separate rear studio; Renovated kitchens with custom cabinetry, granite countertops, and high‑end appliances
