Updated Duplex with Two 2-Bed
4200 STATE STREET Drive New Orleans, LA 70125
4200 STATE STREET Drive, New Orleans, LA, 70125
$390,000
For Sale
$390,000
MULTI_FAMILY - New Orleans, LA
Property Size2,434 SF
Price / SF$160.23
Days on Market64
Property Features for 4200 STATE STREET Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- Driveway, Off Street
- Patio and Porch features
- Porch
- Exterior features
- Balcony, Porch
- 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
Utilities
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
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
4827 Prytania St, New Orleans, LA
Listed by
Derek Delahoussaye · License #995680721
(504) 300-0700
Added: May 15 Checked: Jul 17 at 8:06 am
MLS# 2557789
Listing URL
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 updated duplex features two 2-bedroom, 1-bath units arranged for practical day-to-day living. Each unit includes a spacious porch and an updated kitchen, along with a functional layout for either tenant occupancy or owner-occupancy. The upstairs unit retains beautiful original hardwood floors, adding character while keeping the interior refreshed. Appliances are set to remain after closing, including the washers and dryers, which helps reduce move-in friction. Both units are separately metered for straightforward utility management.
Located in the tree-lined Fontainebleau neighborhood of New Orleans, the property is positioned along State Street Drive in the 70125 area. The home is designed for convenient vehicle access, with two long driveways providing parking for at least four cars.
The two-unit configuration makes this a strong fit for buyers looking for rental income flexibility or an owner-occupied setup with a second unit. With separate metering, retained appliances, and unit-specific features like porches and updated kitchens, the property is well-suited for tenants who want comfortable, move-ready accommodations. It is also described as easy to show, with scheduling available for viewings after contacting the listing team.
Located in the tree-lined Fontainebleau neighborhood of New Orleans, the property is positioned along State Street Drive in the 70125 area. The home is designed for convenient vehicle access, with two long driveways providing parking for at least four cars.
The two-unit configuration makes this a strong fit for buyers looking for rental income flexibility or an owner-occupied setup with a second unit. With separate metering, retained appliances, and unit-specific features like porches and updated kitchens, the property is well-suited for tenants who want comfortable, move-ready accommodations. It is also described as easy to show, with scheduling available for viewings after contacting the listing team.
Key Highlights
- Updated duplex in the Fontainebleau neighborhood with fresh exterior paint
- 2‑story duplex with two 2‑bedroom, 1‑bath units
- Each unit has a spacious porch, updated kitchen, and separate utilities (separately metered)
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 offers two separate 2-bedroom, 1-bath units with porches, updated kitchens, and separate utilities.
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: Updated duplex in the Fontainebleau neighborhood with fresh exterior paint; 2‑story duplex with two 2‑bedroom, 1‑bath units; Each unit has a spacious porch, updated kitchen, and separate utilities (separately metered)
