Historic Duplex with Private
For Sale
$540,000
4223-25 Burgundy Street, New Orleans, LA 70117
Two residential units offer flexible layouts, outdoor areas, and classic architectural character in New Orleans’ Bywater neighborhood.
Property Size1,966 SF
Price / SF$274.67
Days on Market299
Property Features for 4223-25 Burgundy Street
General Information
Standard status
Active
Size
1,966 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
back porch
private yard area
Wall Unit(s)
Wall Furnace
1
2
4
In each unit
Asphalt
Courtyard
Pillar/Post/Pier
Wood Siding
Building Details
Year Built
1871
Construction
shotgun-style
Listing Agency:
McEnery Residential, LLC
Listed By:
Jennifer Lott · License #995704495
(504) 256-7310
Source:
Compass
Added: Nov 7, 2025
Changed: Sep 2
Last Checked: Sep 1 at 11:51PM
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 McEnery Residential, LLC
Investment Insights
Based on property information with market context.
Built in 1871, this duplex contains 1,966 square feet arranged as two separate residential units. Each side includes two bedrooms, one full bathroom, a shotgun-style floor plan, a rear porch, and a private yard area. Tall ceilings, natural light, wood siding, and pillar/post/pier construction contribute to the property’s historic character, while freshly painted interiors provide an updated presentation. Wall unit(s) and wall furnace systems are included in the interior features.
The property is located at 4223-25 Burgundy Street in New Orleans’ Bywater neighborhood. Restaurants, music venues, and the Mississippi River are within minutes of the address. One unit also includes a loft in the first bedroom that can accommodate a full-size mattress.
The property is located at 4223-25 Burgundy Street in New Orleans’ Bywater neighborhood. Restaurants, music venues, and the Mississippi River are within minutes of the address. One unit also includes a loft in the first bedroom that can accommodate a full-size mattress.
Key Highlights
- Two‑unit duplex totaling 1,966 square feet
- Each unit has 2 bedrooms and 1 full bathroom
- Built in 1871 with historic architectural details
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
$24,894
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
4.61%
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%
$497,880
$497.9K
Cap Rate 7%
$355,629
$355.6K
Cap Rate 9%
$276,600
$276.6K
Market Conditions
NOI Build-Up for 1,966 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
$38.9K $19.80/SF
− Vacancy
−$3.4K −$1.71/SF
EGI
$35.6K $18.09/SF
− OpEx
−$10.7K −$5.43/SF
NOI
$24.9K $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%
$497,880
Cap Rate 7%
$355,629
Cap Rate 9%
$276,600
Alternative Uses
Best Use
Multifamily LT 5
$355.6K
$311.2K – $414.9K
NOI $24,894 @ 7.0% cap · market cap 4.61%
Second Best
Apartment 5plus
$326.9K
$286.0K – $381.4K
NOI $22,882 @ 7.0% cap · market cap 4.24%
Theoretical Best
Office A
$499.7K
$437.2K – $583.0K
NOI $34,978 @ 7.0% cap · market cap 6.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
828
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer flexible layouts, outdoor areas, and classic architectural character in New Orleans’ Bywater neighborhood.
Where is this duplex located?
The property is located at 4223-25 Burgundy Street New Orleans, LA.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,966 square feet; Each unit has 2 bedrooms and 1 full bathroom; Built in 1871 with historic architectural details
