Duplex With Saltwater
For Sale
$735,000
4227-29 SAINT ANN Street, New Orleans, LA 70119
New Orleans, LA
Property Size3,828 SF
Price / SF$192.01
Days on Market11
Property Features for 4227-29 SAINT ANN Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 5, Bedroom 3, Bedroom 2, Bedroom 4, Bedroom 6
Standard status
Active
Size
3,828 SF
Amenities
in-ground saltwater pool
outdoor shower
solar panels
Building Details
Year built
1920
Listing Agency:
Engel & Volkers New Orleans · Engel & Völkers
(504) 234-5000
Listed By:
Emma Bologna · License #995708622
Added: Aug 12
Changed: Aug 20
Last Checked: Aug 22 at 6:06AM
MLS# 2548259
Copyright © 2026 Engel & Völkers. 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.
Built in 1920, this 3,828-square-foot duplex includes two separate sides and a private backyard with an in-ground saltwater pool and outdoor shower. The property may also be configured as a single-family residence, offering flexibility for future ownership plans. Recent improvements include a 3-year-old roof, paid-off solar panels, and water heaters that are 2 years old.
Located at 4227-29 Saint Ann Street in New Orleans, the property is positioned near City Park and Bayou St. John. The surrounding area provides walkable access to the City Park farmers market, coffee shops, restaurants, Jazz Fest, and the Endymion parade route, with streetcar service and opportunities for biking and kayaking also noted nearby.
Located at 4227-29 Saint Ann Street in New Orleans, the property is positioned near City Park and Bayou St. John. The surrounding area provides walkable access to the City Park farmers market, coffee shops, restaurants, Jazz Fest, and the Endymion parade route, with streetcar service and opportunities for biking and kayaking also noted nearby.
Key Highlights
- 3,828‑square‑foot duplex built in 1920
- In‑ground saltwater pool with private backyard and outdoor shower
- Two separate sides with potential for single‑family conversion
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
$48,472
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
6.59%
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%
$969,440
$969.4K
Cap Rate 7%
$692,457
$692.5K
Cap Rate 9%
$538,578
$538.6K
Market Conditions
NOI Build-Up for 3,828 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
$75.8K $19.80/SF
− Vacancy
−$6.5K −$1.71/SF
EGI
$69.2K $18.09/SF
− OpEx
−$20.8K −$5.43/SF
NOI
$48.5K $12.66/SF
Area
ZIP 70119
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%
$969,440
Cap Rate 7%
$692,457
Cap Rate 9%
$538,578
Alternative Uses
Best Use
Multifamily LT 5
$692.5K
$605.9K – $807.9K
NOI $48,472 @ 7.0% cap · market cap 6.59%
Second Best
Apartment 5plus
$636.5K
$556.9K – $742.6K
NOI $44,553 @ 7.0% cap · market cap 6.06%
Theoretical Best
Office A
$1.00M
$876.5K – $1.17M
NOI $70,117 @ 7.0% cap · market cap 9.54%
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
1,341
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with a private backyard, updated roof, solar panels, and flexible owner-occupant or rental use.
Where is this duplex located?
The property is located at 4227-29 SAINT ANN Street New Orleans, LA.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: 3,828‑square‑foot duplex built in 1920; In‑ground saltwater pool with private backyard and outdoor shower; Two separate sides with potential for single‑family conversion
