Fontainebleau Duplex with Rental
4200-02 State St Drive New Orleans, LA 70125
4200-02 State St Drive, New Orleans, LA, 70125
$390,000
For Sale
$390,000
Updated duplex in Fontainebleau neighborhood with strong rental potential.
Property Size2,434 SF
Price / SF$160.23
Days on Market66
Property Features for 4200-02 State St Drive
General Information
- Standard status
- Active
- Size
- 2,434 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1947
Listing Agency
REVE, REALTORS
(337) 277-1446
Listed by
Derek Delahoussaye · License #995680721
(337) 277-1446
Source
Compass
Added: May 13 Checked: Jul 17 at 4:18 am
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 REVE, REALTORS
Investment Insights
Based on property information with market context.
This updated duplex is located in the tree-lined Fontainebleau neighborhood. The property features two 2-bedroom, 1-bath units, each with a spacious porch and updated kitchen. The upstairs unit includes original hardwood floors. All appliances, including washers and dryers, will remain after closing. Each unit is separately metered. The property also includes two long driveways with parking for at least four cars. The property size is 2434 square feet and offers a functional layout for tenants or owner-occupants. The property has fresh exterior paint and strong rental potential.
Key Highlights
- Strong rental income potential: Comparable units rent for $1,700-$1,750 per month.
- Two separate 2‑bedroom, 1‑bath units offer flexibility.
- Updated kitchens in both units.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $48.2k | $19.80 |
| − Vacancy | −$4.2k | −$1.71 |
| EGI | $44.0k | $18.09 |
| − OpEx | −$13.2k | −$5.43 |
| NOI | $30.8k | $12.66 |
2,434 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$440.3K
$385.3K – $513.7K
NOI $30,821 @ 7.0% cap · market cap 7.90%
Second Best
Apartment 5plus
$404.7K
$354.1K – $472.2K
NOI $28,329 @ 7.0% cap · market cap 7.26%
Theoretical Best
Office A
$618.6K
$541.3K – $721.8K
NOI $43,305 @ 7.0% cap · market cap 11.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Updated duplex in Fontainebleau neighborhood with strong rental potential.
Where is this duplex located?
The property is located at 4200-02 State St Drive New Orleans, LA.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Strong rental income potential: Comparable units rent for $1,700-$1,750 per month.; Two separate 2‑bedroom, 1‑bath units offer flexibility.; Updated kitchens in both units.
