Duplex with Off-Street
For Sale
$299,000
4401 03 Walmsley Ave, New Orleans, LA 70125
Two-unit property with central air and heat, interior laundry, and existing tenant occupancy.
Property Size1,984 SF
Price / SF$150.71
Days on Market9
Property Features for 4401 03 Walmsley Ave
General Information
Standard status
Active
Size
1,984 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Gross Income
$30,000
Multifamily Units
2
Amenities
interior laundry
Building Details
Year Built
1940
Year Renovated
2009
Buildings
1
Construction
Shotgun Double
Listing Agency:
Bennette Dukes Realty LLC
(504) 321-1014
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Sep 19
Changed: Sep 26
Last Checked: Sep 26 at 7:26AM
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 Bennette Dukes Realty LLC
Investment Insights
Based on property information with market context.
This 1,984-square-foot duplex at 4401 03 Walmsley Ave was built in 1940 and includes two residential sides with tall ceilings, some original hardwood flooring, central air and heat, and interior laundry in each unit. Major systems were updated in 2009, and the roof was replaced in 2022.
The property occupies a corner lot in New Orleans’ Broadmoor neighborhood. A backyard provides designated parking accessed from S Lopez, while the property also shares a driveway on Walmsley. Both sides are tenant occupied; the left side is leased month to month, and tenants pay their own utilities.
The property occupies a corner lot in New Orleans’ Broadmoor neighborhood. A backyard provides designated parking accessed from S Lopez, while the property also shares a driveway on Walmsley. Both sides are tenant occupied; the left side is leased month to month, and tenants pay their own utilities.
Key Highlights
- 1,984‑square‑foot duplex built in 1940
- Major systems updated in 2009; roof replaced in 2022
- Corner lot in New Orleans’ Broadmoor neighborhood
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
$25,122
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
8.40%
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%
$502,440
$502.4K
Cap Rate 7%
$358,886
$358.9K
Cap Rate 9%
$279,133
$279.1K
Market Conditions
NOI Build-Up for 1,984 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
$39.3K $19.80/SF
− Vacancy
−$3.4K −$1.71/SF
EGI
$35.9K $18.09/SF
− OpEx
−$10.8K −$5.43/SF
NOI
$25.1K $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 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%
$502,440
Cap Rate 7%
$358,886
Cap Rate 9%
$279,133
Alternative Uses
Best Use
Multifamily LT 5
$358.9K
$314.0K – $418.7K
NOI $25,122 @ 7.0% cap · market cap 8.40%
Second Best
Apartment 5plus
$329.9K
$288.6K – $384.9K
NOI $23,091 @ 7.0% cap · market cap 7.72%
Theoretical Best
Office A
$504.3K
$441.2K – $588.3K
NOI $35,299 @ 7.0% cap · market cap 11.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,087
Businesses Nearby
Explore this area
Business Placement
Demographics for 70125, LA
17,457
Population
7,972
Households
2.2
Avg Household Size
33
Median Age
46%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
7,590
Density / Sq Mi
$58,956
Median Household Income
$39,623
Median Earnings
$1,292
Median Rent
$428,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Two-unit property with central air and heat, interior laundry, and existing tenant occupancy.
Where is this duplex located?
The property is located at 4401 03 Walmsley Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 1,984‑square‑foot duplex built in 1940; Major systems updated in 2009; roof replaced in 2022; Corner lot in New Orleans’ Broadmoor neighborhood
