6-Unit Apartment Property with
For Sale
$590,000
4318 Annunciation St, New Orleans, LA 70115
Front and rear buildings share a large backyard that functions as an outdoor common area.
Property Size3,068 SF
Price / SF$192.31
Days on Market43
Property Features for 4318 Annunciation St
General Information
Standard status
Active
Size
3,068 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
6
Building Details
Year Built
1920
Buildings
2
Listing Agency:
eXp Realty, LLC
(504) 513-3109
Listed By:
Natashia Kennison
Source:
Dominionplace
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 30 at 9:00PM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
This 6-unit apartment property at 4318 Annunciation St includes a 4-unit front building and a separate 2-unit structure in the rear. The buildings date to 1920 and feature the character of New Orleans historic shotgun-style residences. A large backyard provides shared outdoor space for the property.
The location places the property near Tipitina’s, Rouses, Magazine Street restaurants and boutiques, and the parade route. The property is also convenient to the CBD and Tulane, Loyola, and Xavier Universities, with the address in New Orleans, LA 70115. The combined building area is 3,068 square feet.
The location places the property near Tipitina’s, Rouses, Magazine Street restaurants and boutiques, and the parade route. The property is also convenient to the CBD and Tulane, Loyola, and Xavier Universities, with the address in New Orleans, LA 70115. The combined building area is 3,068 square feet.
Key Highlights
- 6‑unit configuration with a 4‑unit front building and 2‑unit rear building
- 3,068 square feet of combined building area
- Large backyard used as an outdoor common area
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
$23,376
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
3.96%
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%
$467,520
$467.5K
Cap Rate 7%
$333,943
$333.9K
Cap Rate 9%
$259,733
$259.7K
Market Conditions
NOI Build-Up for 3,068 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
$46.8K $15.24/SF
− Vacancy
−$4.3K −$1.39/SF
EGI
$42.5K $13.85/SF
− OpEx
−$19.1K −$6.23/SF
NOI
$23.4K $7.62/SF
Area
ZIP 70115
Vacancy
9.10%
Lease Rate
$15.24 /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%
$467,520
Cap Rate 7%
$333,943
Cap Rate 9%
$259,733
Alternative Uses
Best Use
Apartment 5plus
$333.9K
$292.2K – $389.6K
NOI $23,376 @ 7.0% cap · market cap 3.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$809.4K
$708.3K – $944.3K
NOI $56,660 @ 7.0% cap · market cap 9.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,926
Businesses Nearby
Explore this area
Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
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?
Apartment building - Front and rear buildings share a large backyard that functions as an outdoor common area.
Where is this apartment building located?
The property is located at 4318 Annunciation St New Orleans, LA.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: 6‑unit configuration with a 4‑unit front building and 2‑unit rear building; 3,068 square feet of combined building area; Large backyard used as an outdoor common area
