Brick Duplex with Fenced
For Sale
$325,000
457-59 Greenmount Drive, Metairie, LA 70005
Two-unit property with separate utility metering and private laundry serving each residence.
Property Size1,906 SF
Price / SF$170.51
Days on Market162
Property Features for 457-59 Greenmount Drive
General Information
Standard status
Active
Size
1,906 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Amenities
Central Air, Window Unit(s)
Central, Other Heat
1
2
4
Asphalt
Other
Slab: Traditional
Brick
Building Details
Year Built
1963
Listing Agency:
Heauxm Pros
(985) 710-3356
Listed By:
Michael Baradell · License #995719347
(985) 710-3356
Source:
Compass
Added: Mar 24
Changed: Aug 30
Last Checked: Aug 31 at 9:49PM
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 Heauxm Pros
Investment Insights
Based on property information with market context.
This duplex was built in 1963 and contains 1,906 square feet within an all-brick structure. Each residence has its own fenced yard and private laundry area located off the rear. Separate electric and gas meters serve the units, while water is shared. The property also includes central air, window units, central heat, and a slab foundation.
Located at 457-59 Greenmount Drive in Metairie, the building sits on a quiet dead-end street. Long-term tenants are in place, and the current tenants maintain the lawn.
Located at 457-59 Greenmount Drive in Metairie, the building sits on a quiet dead-end street. Long-term tenants are in place, and the current tenants maintain the lawn.
Key Highlights
- 1,906‑square‑foot duplex built in 1963
- All‑brick building with separate fenced yards
- Private rear laundry area for each unit
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
$20,382
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
6.27%
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%
$407,640
$407.6K
Cap Rate 7%
$291,171
$291.2K
Cap Rate 9%
$226,467
$226.5K
Market Conditions
NOI Build-Up for 1,906 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
$30.9K $16.20/SF
− Vacancy
−$1.8K −$0.92/SF
EGI
$29.1K $15.28/SF
− OpEx
−$8.7K −$4.58/SF
NOI
$20.4K $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 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%
$407,640
Cap Rate 7%
$291,171
Cap Rate 9%
$226,467
Alternative Uses
Best Use
Multifamily LT 5
$291.2K
$254.8K – $339.7K
NOI $20,382 @ 7.0% cap · market cap 6.27%
Second Best
Apartment 5plus
$253.4K
$221.7K – $295.6K
NOI $17,737 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$446.3K
$390.6K – $520.7K
NOI $31,244 @ 7.0% cap · market cap 9.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
707
Businesses Nearby
Explore this area
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
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-unit property with separate utility metering and private laundry serving each residence.
Where is this duplex located?
The property is located at 457-59 Greenmount Drive Metairie, LA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 1,906‑square‑foot duplex built in 1963; All‑brick building with separate fenced yards; Private rear laundry area for each unit
