Updated Duplex with Separate
For Sale
$253,900
4217 N Johnson Street, New Orleans, LA 70117
Two three-bedroom units offer central HVAC, laundry connections, and distinct electric metering.
Property Size904 SF
Price / SF$280.86
Days on Market20
Property Features for 4217 N Johnson Street
General Information
Standard status
Active
Size
904 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
washer/dryer hookups
Building Details
Year Built
2008
Buildings
1
Construction
shotgun-style
Listing Agency:
Key Turner Realty LLC
(504) 606-0466
Listed By:
Monique Marshall · License #MARSMONI
Source:
Thepuckettteam
Added: Aug 13
Changed: Aug 29
Last Checked: Aug 31 at 1:16PM
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 Key Turner Realty LLC
Investment Insights
Based on property information with market context.
Built in 2008, this 904-square-foot duplex contains two shotgun-style residences, each configured with 3 bedrooms and 2 bathrooms. Both units have central air and heat, washer and dryer connections, and separate electric meters. The sewer line was replaced in 2022.
The left residence is vacant and has received updates including flooring, kitchen cabinets, a bathroom vanity, paint, and appliances. The right residence is occupied by a long-term tenant under an existing lease. Located in Musician's Village, the property offers access to I-10 and the Bywater. The layout supports either owner occupancy with an additional leased unit or continued operation as a two-unit rental property.
The left residence is vacant and has received updates including flooring, kitchen cabinets, a bathroom vanity, paint, and appliances. The right residence is occupied by a long-term tenant under an existing lease. Located in Musician's Village, the property offers access to I-10 and the Bywater. The layout supports either owner occupancy with an additional leased unit or continued operation as a two-unit rental property.
Key Highlights
- Two‑unit duplex with 3‑bedroom, 2‑bath layouts
- 904 square feet; built in 2008
- Separate electric meters for each unit
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
$11,447
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
4.51%
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%
$228,940
$228.9K
Cap Rate 7%
$163,529
$163.5K
Cap Rate 9%
$127,189
$127.2K
Market Conditions
NOI Build-Up for 904 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
$17.9K $19.80/SF
− Vacancy
−$1.5K −$1.71/SF
EGI
$16.4K $18.09/SF
− OpEx
−$4.9K −$5.43/SF
NOI
$11.4K $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%
$228,940
Cap Rate 7%
$163,529
Cap Rate 9%
$127,189
Alternative Uses
Best Use
Multifamily LT 5
$163.5K
$143.1K – $190.8K
NOI $11,447 @ 7.0% cap · market cap 4.51%
Second Best
Apartment 5plus
$150.3K
$131.5K – $175.4K
NOI $10,522 @ 7.0% cap · market cap 4.14%
Theoretical Best
Office A
$229.8K
$201.1K – $268.1K
NOI $16,084 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
372
Businesses Nearby
Explore this area
Business Placement
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom units offer central HVAC, laundry connections, and distinct electric metering.
Where is this duplex located?
The property is located at 4217 N Johnson Street New Orleans, LA.
What is the asking price?
The asking price for this property is $253,900.
What are key features of this property?
This property features: Two‑unit duplex with 3‑bedroom, 2‑bath layouts; 904 square feet; built in 2008; Separate electric meters for each unit
