Craftsman Duplex with
For Sale
$450,000
431 33 Elmira Ave, New Orleans, LA 70114
Two-bedroom units feature updated kitchens, laundry, and central AC.
Property Size2,726 SF
Price / SF$165.08
Days on Market72
Property Features for 431 33 Elmira Ave
General Information
Standard status
Active
Size
2,726 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Amenities
parking
laundry
central AC
front porch
side yard
big back deck
huge shed
Building Details
Year Built
1901
Buildings
1
Construction
craftsman
Listing Agency:
REMAX N.O. Properties
Listed By:
Rachael Kansas · License #995681754
(504) 220-9941
Source:
Fiorellaavenue
Added: Aug 9
Changed: Oct 2
Last Checked: Oct 7 at 2:36PM
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 REMAX N.O. Properties
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Investment Insights
Based on property information with market context.
This 1901 craftsman duplex contains two spacious units, each with two bedrooms, an updated kitchen, laundry, and central AC. The interiors retain defined living and dining areas, while the kitchens are positioned toward the front of the home. The property also includes parking, a side yard, a large rear deck, and a substantial shed that may offer future office or studio use.
Set in Algiers Point at 431 33 Elmira Ave, the property is within walking distance of Barracuda Tacos, Little House wine bar, Congregation coffee, a playground, and other neighborhood destinations. The 2,716-square-foot building provides a two-unit residential configuration with outdoor areas that complement both residences.
Set in Algiers Point at 431 33 Elmira Ave, the property is within walking distance of Barracuda Tacos, Little House wine bar, Congregation coffee, a playground, and other neighborhood destinations. The 2,716-square-foot building provides a two-unit residential configuration with outdoor areas that complement both residences.
Key Highlights
- Duplex with 2 units, each offering 2 bedrooms
- 2,716 SF craftsman property built in 1901
- Updated kitchens, laundry, and central AC in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,518
Cap Rate
7.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$690,360
$690.4K
Cap Rate 7%
$493,114
$493.1K
Cap Rate 9%
$383,533
$383.5K
Market Conditions
NOI Build-Up for 2,726 SF
Gross rent
$54.0K $19.80/SF
− Vacancy
−$4.7K −$1.71/SF
EGI
$49.3K $18.09/SF
− OpEx
−$14.8K −$5.43/SF
NOI
$34.5K $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 Rate 5%
$690,360
Cap Rate 7%
$493,114
Cap Rate 9%
$383,533
Alternative Uses
Best Use
Multifamily LT 5
$493.1K
$431.5K – $575.3K
NOI $34,518 @ 7.0% cap · market cap 7.67%
Second Best
Apartment 5plus
$453.2K
$396.6K – $528.8K
NOI $31,727 @ 7.0% cap · market cap 7.05%
Theoretical Best
Office A
$692.9K
$606.3K – $808.3K
NOI $48,500 @ 7.0% cap · market cap 10.78%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
409
Businesses Nearby
Explore this area
Business Placement
Demographics for 70114, LA
23,127
Population
11,860
Households
2
Avg Household Size
38
Median Age
26%
College-Educated
86%
High-School Grad
5.1 sq mi
ZIP Area
4,535
Density / Sq Mi
$41,435
Median Household Income
$31,743
Median Earnings
$1,113
Median Rent
$194,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom units feature updated kitchens, laundry, and central AC.
Where is this duplex located?
The property is located at 431 33 Elmira Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Duplex with 2 units, each offering 2 bedrooms; 2,716 SF craftsman property built in 1901; Updated kitchens, laundry, and central AC in both units
