Duplex with Off-Street
For Sale
$315,000
4321 23 Touro St, New Orleans, LA 70122
Tenant-occupied two-unit property with separate outdoor areas, appliances, and washer/dryer hookups.
Property Size2,500 SF
Price / SF$126
Days on Market43
Property Features for 4321 23 Touro St
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
1 x 4BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
off-street parking
front porch
separate outdoor areas
original hardwood floors
tile accents
washer/dryer hookups
storage sheds
Building Details
Year Built
1980
Buildings
1
Listing Agency:
Epique Realty
(504) 358-9994
Listed By:
Tamike Veal
Source:
Dominionplace
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 30 at 9:02PM
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 Epique Realty
Investment Insights
Based on property information with market context.
Built in 1980, this 2,500-square-foot duplex contains two tenant-occupied units with distinct layouts. The larger residence offers 4 bedrooms, 2 baths, extensive closet space, and a bonus room suitable for office or living use. The second unit includes 2 bedrooms and 1 bath, along with an updated kitchen and bathroom. Interior details include original hardwood flooring and tile in the kitchens, bathrooms, and dining areas.
Exterior features include off-street parking, a front porch, separate outdoor areas, individual storage sheds, and washer/dryer hookups. Appliances are included in both units. The property is in Gentilly near the CBD, Downtown New Orleans, I-10, Gentilly shopping, Dillard University, and neighborhood conveniences. Showings require 24-hour notice.
Exterior features include off-street parking, a front porch, separate outdoor areas, individual storage sheds, and washer/dryer hookups. Appliances are included in both units. The property is in Gentilly near the CBD, Downtown New Orleans, I-10, Gentilly shopping, Dillard University, and neighborhood conveniences. Showings require 24-hour notice.
Key Highlights
- 2,500‑square‑foot duplex built in 1980
- Two tenant‑occupied units with 4‑bedroom/2‑bath and 2‑bedroom/1‑bath layouts
- Off‑street parking, front porch, and separate outdoor areas
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
$25,901
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
8.22%
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%
$518,020
$518.0K
Cap Rate 7%
$370,014
$370.0K
Cap Rate 9%
$287,789
$287.8K
Market Conditions
NOI Build-Up for 2,500 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
$40.5K $16.20/SF
− Vacancy
−$3.5K −$1.40/SF
EGI
$37.0K $14.80/SF
− OpEx
−$11.1K −$4.44/SF
NOI
$25.9K $10.36/SF
Area
ZIP 70122
Vacancy
8.64%
Lease Rate
$16.20 /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%
$518,020
Cap Rate 7%
$370,014
Cap Rate 9%
$287,789
Alternative Uses
Best Use
Multifamily LT 5
$370.0K
$323.8K – $431.7K
NOI $25,901 @ 7.0% cap · market cap 8.22%
Second Best
Apartment 5plus
$321.4K
$281.2K – $375.0K
NOI $22,498 @ 7.0% cap · market cap 7.14%
Theoretical Best
Office A
$654.2K
$572.4K – $763.2K
NOI $45,792 @ 7.0% cap · market cap 14.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
730
Businesses Nearby
Explore this area
Business Placement
Demographics for 70122, LA
34,986
Population
17,131
Households
2
Avg Household Size
39
Median Age
37%
College-Educated
89%
High-School Grad
6.3 sq mi
ZIP Area
5,553
Density / Sq Mi
$47,613
Median Household Income
$38,248
Median Earnings
$1,196
Median Rent
$274,700
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?
Duplex - Tenant-occupied two-unit property with separate outdoor areas, appliances, and washer/dryer hookups.
Where is this duplex located?
The property is located at 4321 23 Touro St New Orleans, LA.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 2,500‑square‑foot duplex built in 1980; Two tenant‑occupied units with 4‑bedroom/2‑bath and 2‑bedroom/1‑bath layouts; Off‑street parking, front porch, and separate outdoor areas
