Renovated Victorian
For Sale
$899,000
418 HENRY CLAY Avenue, New Orleans, LA 70118
Multi-Family, Victorian, New Orleans, LA
Property Size2,122 SF
Price / SF$423.66
Days on Market95
Property Features for 418 HENRY CLAY Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Patio and Porch features
Porch
Exterior features
Porch
Lot features
Regular
Subdivision
Uptown
Standard status
Active
APN
418-HENRYCLAYAV
Size
2,122 SF
Taxes and HOA fees
Tax Description
BURTHEVILLE SQ 14 LOT 18 32X120
Legal Description
BURTHEVILLE SQ 14 LOT 18 32X120
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
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
Floors in Building
1
Number of units
3
Architectural style
Victorian
Listing Agency:
McEnery Residential, LLC
(504) 605-4400
Listed By:
Lesley Poche · License #000017799
(504) 259-2561
Added: Jun 1
Changed: Aug 26
Last Checked: Sep 3 at 8:06AM
MLS# 2560693
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 2,122-square-foot Victorian triplex, built in 1900, combines a custom renovation with original architectural elements. The property includes two one-bedroom apartments and a separate rear studio with a bedroom/living area, kitchenette, full bathroom, and laundry. Hardwood floors, exposed ceiling beams, brick fireplaces, walk-in closets, and porches contribute to the building’s character, while central heating, central air, public water, updated cabinetry, granite countertops, and modern appliances support everyday use.
The rear studio is currently rented and shares an electrical meter with the main building. Located at 418 Henry Clay Avenue in New Orleans, the property is two blocks from Audubon Park. The rear unit also includes a separate entrance and can function as a rental, guest suite, or home office, as supported by its existing layout.
The rear studio is currently rented and shares an electrical meter with the main building. Located at 418 Henry Clay Avenue in New Orleans, the property is two blocks from Audubon Park. The rear unit also includes a separate entrance and can function as a rental, guest suite, or home office, as supported by its existing layout.
Key Highlights
- 2,122‑square‑foot Victorian triplex built in 1900
- Two one‑bedroom units plus a separate rear studio apartment
- Rear studio includes kitchenette, full bathroom, bedroom/living area, and laundry
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 feature updated kitchens, private laundry facilities, and retained period architectural details.
Where is this triplex located?
The property is located at 418 HENRY CLAY Avenue 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‑square‑foot Victorian triplex built in 1900; Two one‑bedroom units plus a separate rear studio apartment; Rear studio includes kitchenette, full bathroom, bedroom/living area, and laundry
