Duplex with Fenced
For Sale
$515,000
425 S LOPEZ Street New, New Orleans, LA 70119
Two-unit property with off-street parking, central air, and outdoor space near Mid-City dining and entertainment.
Property Size2,197 SF
Days on Market239
Property Features for 425 S LOPEZ Street New
General Information
Standard status
Active
Size
2,197 SF
Property subtype
Duplex
Amenities
fully fenced yard
outdoor entertaining area
Central Air
Central
Natural Gas Available
Building Details
Building Size
2,197 SF
Year Built
2020
Listing Agency:
HODC LLC dba Keller Williams Realty New Orleans
Listed By:
James M Howell · License #LA
(504) 982-5921
Source:
Kw
Added: Feb 23
Changed: Oct 19
Last Checked: Oct 19 at 5:51AM
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 HODC LLC dba Keller Williams Realty New Orleans
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Investment Insights
Based on property information with market context.
Built in 2020, this duplex offers two residential units with central air and a layout described as having spacious rooms and quality finishes. The property includes off-street parking, a fully fenced yard, and an outdoor entertaining area with deck, patio, and porch features. Shingle construction is also noted.
The property is located in Mid-City, within a few blocks of eateries, live music venues, and other local destinations. The lower unit is currently leased, providing an existing income stream for the next owner.
The property is located in Mid-City, within a few blocks of eateries, live music venues, and other local destinations. The lower unit is currently leased, providing an existing income stream for the next owner.
Key Highlights
- Duplex constructed in 2020
- Lower unit is currently leased
- Central and central air systems
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,820
Cap Rate
5.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$556,400
$556.4K
Cap Rate 7%
$397,429
$397.4K
Cap Rate 9%
$309,111
$309.1K
Market Conditions
NOI Build-Up for 2,197 SF
Gross rent
$43.5K $19.80/SF
− Vacancy
−$3.8K −$1.71/SF
EGI
$39.7K $18.09/SF
− OpEx
−$11.9K −$5.43/SF
NOI
$27.8K $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 Rate 5%
$556,400
Cap Rate 7%
$397,429
Cap Rate 9%
$309,111
Alternative Uses
Best Use
Multifamily LT 5
$397.4K
$347.8K – $463.7K
NOI $27,820 @ 7.0% cap · market cap 5.40%
Second Best
Apartment 5plus
$365.3K
$319.6K – $426.2K
NOI $25,571 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$574.9K
$503.0K – $670.7K
NOI $40,242 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
2,063
Businesses Nearby
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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
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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 - Two-unit property with off-street parking, central air, and outdoor space near Mid-City dining and entertainment.
Where is this duplex located?
The property is located at 425 S LOPEZ Street New New Orleans, LA.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Duplex constructed in 2020; Lower unit is currently leased; Central and central air systems
