Shotgun Duplex with Private
For Sale
$349,000
432 34 S Hennessey Street, New Orleans, LA 70119
Mirrored units offer original wood floors, open living-kitchen areas, laundry spaces, and covered porch access.
Property Size1,575 SF
Days on Market14
Property Features for 432 34 S Hennessey Street
General Information
Standard status
Active
Size
1,575 SF
Property subtype
Multi Family Home
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
covered front porch
Building Details
Building Size
1,575 SF
Year Built
1940
Buildings
1
Stories
1
Construction
shotgun
Listing Agency:
Fqr Realtors
(504) 616-0990
Listed By:
George Jeansonne · License #995687377
(504) 616-0990
Source:
Nolalivingrealty
Added: Jul 29
Changed: Aug 7
Last Checked: Aug 10 at 11:03AM
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 Fqr Realtors
Investment Insights
Based on property information with market context.
Built in 1940, this duplex contains two mirrored shotgun-style residences with practical layouts. Each unit includes an open living and kitchen area, a full bathroom, laundry space, and two rear bedrooms. Original hardwood flooring and decorative mantels add period character throughout the interiors.
The property occupies a deep lot with separate private yard areas for each residence, along with a covered front porch. Its location places the duplex near City Park, Bayou St. John, and a range of restaurants, coffee shops, and neighborhood businesses along South Hennessey Street in New Orleans.
The property occupies a deep lot with separate private yard areas for each residence, along with a covered front porch. Its location places the duplex near City Park, Bayou St. John, and a range of restaurants, coffee shops, and neighborhood businesses along South Hennessey Street in New Orleans.
Key Highlights
- Two mirrored shotgun‑style units, each with two rear bedrooms
- Original hardwood floors and decorative mantels
- Open living and kitchen layouts in both units
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
$19,943
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
5.71%
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%
$398,860
$398.9K
Cap Rate 7%
$284,900
$284.9K
Cap Rate 9%
$221,589
$221.6K
Market Conditions
NOI Build-Up for 1,575 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
$31.2K $19.80/SF
− Vacancy
−$2.7K −$1.71/SF
EGI
$28.5K $18.09/SF
− OpEx
−$8.5K −$5.43/SF
NOI
$19.9K $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%
$398,860
Cap Rate 7%
$284,900
Cap Rate 9%
$221,589
Alternative Uses
Best Use
Multifamily LT 5
$284.9K
$249.3K – $332.4K
NOI $19,943 @ 7.0% cap · market cap 5.71%
Second Best
Apartment 5plus
$261.9K
$229.1K – $305.5K
NOI $18,331 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$412.1K
$360.6K – $480.8K
NOI $28,849 @ 7.0% cap · market cap 8.27%
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
1,730
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Mirrored units offer original wood floors, open living-kitchen areas, laundry spaces, and covered porch access.
Where is this duplex located?
The property is located at 432 34 S Hennessey Street New Orleans, LA.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Two mirrored shotgun‑style units, each with two rear bedrooms; Original hardwood floors and decorative mantels; Open living and kitchen layouts in both units
