Updated Duplex with Separate
For Sale
$370,000
4200 STATE STREET Drive, New Orleans, LA 70125
Multi-Family, Traditional, New Orleans, LA
Property Size2,434 SF
Price / SF$152.01
Days on Market158
Property Features for 4200 STATE STREET Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Off Street, Driveway
Patio and Porch features
Porch
Exterior features
Balcony, Porch
Lot features
Oversized, Regular
Subdivision
Fontainebleeau
Standard status
Active
APN
615114117
Size
2,434 SF
Taxes and HOA fees
Tax Description
1. BLOOMINGDALE UP STA EX 2. LOT 78 HF LOT 80 45X82/81 3. 4200-02 STATE STR DR DUP-W
Legal Description
1. BLOOMINGDALE UP STA EX 2. LOT 78 HF LOT 80 45X82/81 3. 4200-02 STATE STR DR DUP-W
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
porch
Building Details
Year built
1947
Floors in Building
2
Number of units
2
Roof type
Asphalt
Architectural style
Other
Listing Agency:
REVE, REALTORS
(504) 300-0700
Listed By:
Derek Delahoussaye
(337) 277-1446
Added: May 15
Changed: Oct 12
Last Checked: Oct 19 at 8:06PM
MLS# 2557789
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.
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Investment Insights
Based on property information with market context.
This 2,434-square-foot duplex contains two 2-bedroom, 1-bath units with separate utility metering. Improvements include fresh exterior paint, updated kitchens, central heating and central air, spacious porches, and functional layouts. The upper residence retains original hardwood flooring, while the appliances, including washers and dryers, remain with the property. The building dates to 1947 and has an asphalt roof.
Located at 4200 State Street Drive in New Orleans, the property is in the Fontainebleau neighborhood. Two extended driveways provide off-street parking for at least four vehicles. Public water service supports the property, and the porch and balcony features add exterior space for each residence.
Located at 4200 State Street Drive in New Orleans, the property is in the Fontainebleau neighborhood. Two extended driveways provide off-street parking for at least four vehicles. Public water service supports the property, and the porch and balcony features add exterior space for each residence.
Key Highlights
- 2,434‑square‑foot duplex with two 2‑bedroom, 1‑bath units
- Separate metering for each unit
- At least four‑car parking capacity across two long driveways
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,821
Cap Rate
8.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$616,420
$616.4K
Cap Rate 7%
$440,300
$440.3K
Cap Rate 9%
$342,456
$342.5K
Market Conditions
NOI Build-Up for 2,434 SF
Gross rent
$48.2K $19.80/SF
− Vacancy
−$4.2K −$1.71/SF
EGI
$44.0K $18.09/SF
− OpEx
−$13.2K −$5.43/SF
NOI
$30.8K $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 Rate 5%
$616,420
Cap Rate 7%
$440,300
Cap Rate 9%
$342,456
Alternative Uses
Best Use
Multifamily LT 5
$440.3K
$385.3K – $513.7K
NOI $30,821 @ 7.0% cap · market cap 8.33%
Second Best
Apartment 5plus
$404.7K
$354.1K – $472.2K
NOI $28,329 @ 7.0% cap · market cap 7.66%
Theoretical Best
Office A
$618.6K
$541.3K – $721.8K
NOI $43,305 @ 7.0% cap · market cap 11.70%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,248
Businesses Nearby
Explore this area
Business Placement
Demographics for 70125, LA
17,457
Population
7,972
Households
2.2
Avg Household Size
33
Median Age
46%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
7,590
Density / Sq Mi
$58,956
Median Household Income
$39,623
Median Earnings
$1,292
Median Rent
$428,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer porches, refreshed kitchens, central HVAC, and off-street driveway parking.
Where is this duplex located?
The property is located at 4200 STATE STREET Drive New Orleans, LA.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: 2,434‑square‑foot duplex with two 2‑bedroom, 1‑bath units; Separate metering for each unit; At least four‑car parking capacity across two long driveways
