Two-Unit
For Sale
$499,999
4312 BANKS Street, New Orleans, LA 70119
Multifamily, New Orleans, LA
Property Size2,480 SF
Price / SF$201.61
Days on Market66
Property Features for 4312 BANKS Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 6, Bathroom 1, Bathroom 4, Bedroom 5, Bathroom 3, Bedroom 4, Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 2
Directions
Exit Carrolton Ave from either direction turn onto Banks Street from Carrolton Ave towards Jesuit HS duplex across the street
Standard status
Active
APN
4312-BANKSST
Size
2,480 SF
Additional Details
Tenant in Place
Yes
Individually Metered Utilities
electricity
Taxes and HOA fees
Tax Description
Lot 7, Sq 798
Legal Description
Lot 7, Sq 798
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
Ceiling Fans
Stainless Steel Appliances
Central Air & Heat
In-unit Washer/Dryer
Building Details
Year built
2009
Number of units
2
Building materials
Vinyl Siding
Listing Agency:
Keller Williams Realty NO
(504) 862-0100
Listed By:
Kimberly Boudreaux · License #995712760
(504) 722-7003
Added: Aug 19
Changed: Oct 23
Last Checked: Oct 23 at 5:06PM
MLS# 2573356
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 2,480-square-foot duplex contains two residences, each configured with three bedrooms and two bathrooms. Built in 2009, the property has vinyl siding, central air and heat, and open floor plans with laminate flooring. Each unit includes a washer and dryer, ceiling fans, and stainless steel appliances: refrigerator, range/oven, microwave, and dishwasher.
The building has two electric meters and one water meter. Both residences are currently rented. Updates were completed in 2023, including fresh paint.
The building has two electric meters and one water meter. Both residences are currently rented. Updates were completed in 2023, including fresh paint.
Key Highlights
- Two residences, each with 3 bedrooms and 2 bathrooms
- 2,480 square feet; built in 2009
- Updates completed in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,403
Cap Rate
6.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$628,060
$628.1K
Cap Rate 7%
$448,614
$448.6K
Cap Rate 9%
$348,922
$348.9K
Market Conditions
NOI Build-Up for 2,480 SF
Gross rent
$49.1K $19.80/SF
− Vacancy
−$4.2K −$1.71/SF
EGI
$44.9K $18.09/SF
− OpEx
−$13.5K −$5.43/SF
NOI
$31.4K $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%
$628,060
Cap Rate 7%
$448,614
Cap Rate 9%
$348,922
Alternative Uses
Best Use
Multifamily LT 5
$448.6K
$392.5K – $523.4K
NOI $31,403 @ 7.0% cap · market cap 6.28%
Second Best
Apartment 5plus
$412.3K
$360.8K – $481.1K
NOI $28,864 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$648.9K
$567.8K – $757.1K
NOI $45,426 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,730
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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are leased and offer three bedrooms and two bathrooms apiece.
Where is this duplex located?
The property is located at 4312 BANKS Street New Orleans, LA.
What is the asking price?
The asking price for this property is $499,999.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms and 2 bathrooms; 2,480 square feet; built in 2009; Updates completed in 2023
