Two-Unit
450 Orion Avenue, Metairie, LA 70005
For Sale
$399,999
The property offers separate front and rear residences with different bedroom configurations.
Property Size1,629 SF
Price / SF$245.55
Days on Market277
Property Features for 450 Orion Avenue
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Tenant in Place
Building Details
Building Size
Year Built
Units
Listing Agency:
Watermark Realty, LLC
(504) 309-7777
Listed By:
Cheryl B Drendel
Source:
Donaldjulienrealestate
Added: Feb 4
Changed: Nov 7
Last Checked: Nov 7 at 4:54PM
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 Watermark Realty, LLC
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Investment Insights
Based on property information with market context.
This 1,629-square-foot duplex in Metairie was built in 1947. The front residence has two bedrooms and one bathroom, while the rear residence has one bedroom and one bathroom. Central air conditioning and heat serve the front unit; the rear unit uses window units. Hardwood flooring is present through much of the front residence, with laminate in its front bedroom.
Key Highlights
- 1,629‑square‑foot duplex built in 1947
- Front residence has 2 bedrooms and 1 bathroom; rear residence has 1 bedroom and 1 bathroom
- Central A/C and heat in the front unit; window units in the rear
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,420
Cap Rate
4.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$348,400
$348.4K
Cap Rate 7%
$248,857
$248.9K
Cap Rate 9%
$193,556
$193.6K
Market Conditions
NOI Build-Up for 1,629 SF
Gross rent
$26.4K $16.20/SF
− Vacancy
−$1.5K −$0.92/SF
EGI
$24.9K $15.28/SF
− OpEx
−$7.5K −$4.58/SF
NOI
$17.4K $10.69/SF
Area
Metairie, LA
Vacancy
5.70%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$348,400
Cap Rate 7%
$248,857
Cap Rate 9%
$193,556
Alternative Uses
Best Use
Multifamily LT 5
$248.9K
$217.8K – $290.3K
NOI $17,420 @ 7.0% cap · market cap 4.36%
Second Best
Apartment 5plus
$216.6K
$189.5K – $252.7K
NOI $15,159 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$381.5K
$333.8K – $445.1K
NOI $26,703 @ 7.0% cap · market cap 6.68%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,639
Businesses Nearby
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Business Placement
Demographics for 70005, LA
25,431
Population
12,447
Households
2
Avg Household Size
45
Median Age
50%
College-Educated
94%
High-School Grad
4.2 sq mi
ZIP Area
6,055
Density / Sq Mi
$86,048
Median Household Income
$53,258
Median Earnings
$1,160
Median Rent
$381,000
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Metairie, LA
Properties on Market for Duplexes in Metairie
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - The property offers separate front and rear residences with different bedroom configurations.
Where is this duplex located?
The property is located at 450 Orion Avenue Metairie, LA.
What is the asking price?
The asking price for this property is $399,999.
What are key features of this property?
This property features: 1,629‑square‑foot duplex built in 1947; Front residence has 2 bedrooms and 1 bathroom; rear residence has 1 bedroom and 1 bathroom; Central A/C and heat in the front unit; window units in the rear
