Three-Bedroom
For Sale
$349,500
Pending
4488 Lafaye Street, New Orleans, LA 70122
Two residential units feature living areas, porch space, and window-unit cooling.
Property Size3,367 SF
Days on Market271
Property Features for 4488 Lafaye Street
General Information
Standard status
Pending
Size
3,367 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Additional Details
Public Transit
Yes
Multifamily Units
2
Amenities
Window Unit(s)
Other Heat
1
4
6
In unit
Asphalt
2
Pillar/Post/Pier
Other
Porch
Building Details
Year Built
1945
Listing Agency:
Oak Tree Realty, LLC
Listed By:
Brandon Hartenstein · License #995707382
(832) 270-5927
Source:
Compass
Added: Dec 6, 2025
Changed: Sep 2
Last Checked: Sep 1 at 11:06PM
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 Oak Tree Realty, LLC
Investment Insights
Based on property information with market context.
This duplex contains 3,367 square feet across two residential units, with three bedrooms in each unit. The property was built in 1945 and includes living areas, porch space, window-unit cooling, and other heat. Pillar/post/pier construction and an asphalt exterior feature are also identified.
The property is located on Lafaye Street in New Orleans’ Gentilly Terrace neighborhood. UNO, Dillard University, City Park, and major transit routes are identified in the surrounding area, providing access to educational, recreational, and transportation destinations.
The property is located on Lafaye Street in New Orleans’ Gentilly Terrace neighborhood. UNO, Dillard University, City Park, and major transit routes are identified in the surrounding area, providing access to educational, recreational, and transportation destinations.
Key Highlights
- Two‑unit duplex with three bedrooms in each unit
- 3,367 square feet of property size
- Built in 1945
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
$30,300
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
8.67%
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%
$606,000
$606.0K
Cap Rate 7%
$432,857
$432.9K
Cap Rate 9%
$336,667
$336.7K
Market Conditions
NOI Build-Up for 3,367 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
$60.6K $18.00/SF
− Vacancy
−$5.5K −$1.64/SF
EGI
$55.1K $16.36/SF
− OpEx
−$24.8K −$7.36/SF
NOI
$30.3K $9.00/SF
Area
ZIP 70122
Vacancy
9.10%
Lease Rate
$18.00 /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%
$606,000
Cap Rate 7%
$432,857
Cap Rate 9%
$336,667
Alternative Uses
Best Use
Multifamily LT 5
$498.3K
$436.0K – $581.4K
NOI $34,883 @ 7.0% cap · market cap 9.98%
Second Best
Apartment 5plus
$432.9K
$378.8K – $505.0K
NOI $30,300 @ 7.0% cap · market cap 8.67%
Theoretical Best
Office A
$881.0K
$770.9K – $1.03M
NOI $61,673 @ 7.0% cap · market cap 17.65%
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
474
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 - Two residential units feature living areas, porch space, and window-unit cooling.
Where is this duplex located?
The property is located at 4488 Lafaye Street New Orleans, LA.
What is the asking price?
The asking price for this property is $349,500.
What are key features of this property?
This property features: Two‑unit duplex with three bedrooms in each unit; 3,367 square feet of property size; Built in 1945
