Renovated Short-Term Rental
New
For Sale
$315,000
4226 S CARROLLTON Avenue, New Orleans, LA 70119
COMMERCIAL - New Orleans, LA
Property Size1,066 SF
Lot Size0.09 Acres
Price / SF$295.50
Days on Market2
Property Features for 4226 S CARROLLTON Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HU-MU
Parking features
Driveway
Lot features
Regular
Subdivision
Mid-City
Standard status
Active
APN
105304815
Size
1,066 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Description
SQ 761 LOT 19-B & X S CARROL LTON 32X115 8
Legal Description
SQ 761 LOT 19-B & X S CARROL LTON 32X115 8
Utilities
Water source
Public
Amenities
front porch
rear deck
Building Details
Year built
1920
Floors in Building
1
Listing Agency:
McEnery Residential, LLC
(504) 605-4400
Listed By:
Hayley Bumpas · License #995685081
(504) 450-3515
Added: Aug 14
Last Checked: Aug 15 at 1:06AM
MLS# 2571770
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 1,066-square-foot shotgun-style property was built in 1920 and renovated in 2021. The layout includes two bedrooms and two bathrooms, with original character, abundant natural light, a front porch, and an oversized rear deck. Driveway parking and public water service are also provided.
The property is currently operating as a permitted short-term rental under HU-MU zoning, identified as Historic Urban Mixed-Use. Its New Orleans address places it near Downtown, the French Quarter, City Park, and the SuperDome, with access to the Canal streetcar and nearby restaurants, bars, coffee shops, and cultural attractions. Buyers should verify zoning, short-term rental regulations, permitting, and allowable uses with the City of New Orleans.
The property is currently operating as a permitted short-term rental under HU-MU zoning, identified as Historic Urban Mixed-Use. Its New Orleans address places it near Downtown, the French Quarter, City Park, and the SuperDome, with access to the Canal streetcar and nearby restaurants, bars, coffee shops, and cultural attractions. Buyers should verify zoning, short-term rental regulations, permitting, and allowable uses with the City of New Orleans.
Key Highlights
- Permitted short‑term rental operating under HU‑MU zoning
- 1,066 square feet with 2 bedrooms and 2 bathrooms
- Renovated in 2021; original construction dates to 1920
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
$12,407
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
3.94%
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%
$248,140
$248.1K
Cap Rate 7%
$177,243
$177.2K
Cap Rate 9%
$137,856
$137.9K
Market Conditions
NOI Build-Up for 1,066 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
$24.8K $23.28/SF
− Vacancy
−$2.3K −$2.12/SF
EGI
$22.6K $21.16/SF
− OpEx
−$10.2K −$9.52/SF
NOI
$12.4K $11.64/SF
Area
ZIP 70119
Vacancy
9.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$248,140
Cap Rate 7%
$177,243
Cap Rate 9%
$137,856
Alternative Uses
Best Use
Apartment 5plus
$177.2K
$155.1K – $206.8K
NOI $12,407 @ 7.0% cap · market cap 3.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$278.9K
$244.1K – $325.4K
NOI $19,526 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,758
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
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?
Short term rental property - Shotgun-style residence with modern updates, outdoor living areas, and driveway parking in a mixed-use zoning district.
Where is this short term rental property located?
The property is located at 4226 S CARROLLTON Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Permitted short‑term rental operating under HU‑MU zoning; 1,066 square feet with 2 bedrooms and 2 bathrooms; Renovated in 2021; original construction dates to 1920
