2-Unit Duplex with
For Sale
$370,000
4200 STATE STREET Drive, New Orleans, LA 70125
Multifamily, New Orleans, LA
Property Size2,434 SF
Price / SF$152.01
Days on Market163
Property Features for 4200 STATE STREET Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 4, Bedroom 2, Bedroom 1
Parking features
Driveway, Off Street
Patio and Porch features
Porch
Directions
Fontainebleau to State Street Drive
Standard status
Active
APN
615114117
Size
2,434 SF
Additional Details
Individually Metered Utilities
unspecified utilities
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
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1947
Number of units
2
Building materials
Stucco, Wood Siding
Architectural style
Other
Listing Agency:
REVE, REALTORS
(504) 300-0700
Listed By:
Derek J Delahoussaye · License #995680721
(337) 277-1446
Added: May 15
Changed: Oct 23
Last Checked: Oct 24 at 6:06AM
MLS# 2557789
Copyright © 2026 ROAM MLS. 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 New Orleans duplex contains 2,434 square feet across two units, each configured with two bedrooms and one bathroom. Both units have porches and updated kitchens, and the upper unit retains original hardwood flooring. Fresh exterior paint, central heating and air conditioning, and appliances—including washers and dryers—are part of the property. Each residence has a separate utility meter.
The property was built in 1947 and has two long driveways with parking for at least four cars. Public water and sewer serve the site, and natural gas is available.
The property was built in 1947 and has two long driveways with parking for at least four cars. Public water and sewer serve the site, and natural gas is available.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- 2,434 square feet; built in 1947
- Separate utility meters for each unit
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
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 - Separate utility meters and two driveways provide independent service and off-street 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: Two units, each with 2 bedrooms and 1 bathroom; 2,434 square feet; built in 1947; Separate utility meters for each unit
