Updated Duplex with
For Sale
$390,000
Pending
4200 STATE STREET Drive, New Orleans, LA 70125
Multi-Family, Traditional, New Orleans, LA
Property Size2,434 SF
Days on Market111
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
Pending
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 · License #995680721
(337) 277-1446
Added: May 15
Changed: Aug 30
Last Checked: Sep 2 at 11:06PM
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.
Investment Insights
Based on property information with market context.
This 2,434-square-foot duplex, built in 1947, contains two residences, each with two bedrooms and one bathroom. The property has received updated exterior paint and includes refreshed kitchens, central heating and cooling, public water service, and asphalt roofing. Both units have porches, while the upper residence adds original hardwood flooring. Appliances, including washers and dryers, remain with the property, and separate metering supports distinct utility management.
Located at 4200 State Street Drive in New Orleans, the property includes two extended driveways with parking for at least four vehicles. Off-street parking and driveway access complement the residential layout, while the Fontainebleau neighborhood setting provides a tree-lined surroundings context. The configuration can accommodate rental occupancy or an owner-occupant arrangement, as supported by the two-unit design.
Located at 4200 State Street Drive in New Orleans, the property includes two extended driveways with parking for at least four vehicles. Off-street parking and driveway access complement the residential layout, while the Fontainebleau neighborhood setting provides a tree-lined surroundings context. The configuration can accommodate rental occupancy or an owner-occupant arrangement, as supported by the two-unit design.
Key Highlights
- 2,434 SF duplex with two 2‑bedroom, 1‑bath residences
- Two long driveways provide parking for at least four cars
- Each unit is separately metered
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
$30,821
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
7.90%
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%
$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
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
$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 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%
$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 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 authorities.
Property Analytics
Property Profile
Current Use
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
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 separately metered residences offer refreshed interiors, private outdoor space, and off-street parking in New Orleans.
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 $390,000.
What are key features of this property?
This property features: 2,434 SF duplex with two 2‑bedroom, 1‑bath residences; Two long driveways provide parking for at least four cars; Each unit is separately metered
