Historic Duplex With Private
For Sale
$1,499,000
Pending
4721-27 Prytania Street, New Orleans, LA 70115
Two residences offer separate living spaces, in-unit laundry, hardwood floors, and gated parking.
Property Size6,412 SF
Days on Market255
Property Features for 4721-27 Prytania Street
General Information
Standard status
Pending
Size
6,412 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Units
Unit Mix
1 x 4BR/4.5BA, 1 x 3BR/2.5BA
Multifamily Units
2
Additional Details
Road Access
Yes
Amenities
in-unit washer/dryer
private balcony
raised basement
Central Air
Central
1
6
7
2
in unit
8
Asphalt
Other
3
Balcony, Courtyard
Pillar/Post/Pier
Wood Siding
Building Details
Year Built
1908
Buildings
1
Listing Agency:
eXp Realty, LLC
Listed By:
Adrienne LaBauve · License #995684424
(504) 344-0877
Source:
Compass
Added: Dec 22, 2025
Changed: Sep 2
Last Checked: Sep 2 at 12:19AM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1908, this duplex at 4721-27 Prytania Street contains two distinct residences totaling 6,412 square feet. The larger home spans three levels with 4 bedrooms and 4.5 baths, a bright auxiliary room near the kitchen, a third-floor full bath, and a private balcony. The second residence includes 3 bedrooms and 2.5 baths, with bedroom placement designed to limit shared walls between the units.
Both homes feature expansive kitchens, tall ceilings, hardwood flooring, louvered shutters, and in-unit washers and dryers. Electric gated parking accommodates multiple vehicles for each residence, while a raised basement provides additional storage. The property is located between Napoleon and Jefferson streets in New Orleans, with flood zone X designation.
Both homes feature expansive kitchens, tall ceilings, hardwood flooring, louvered shutters, and in-unit washers and dryers. Electric gated parking accommodates multiple vehicles for each residence, while a raised basement provides additional storage. The property is located between Napoleon and Jefferson streets in New Orleans, with flood zone X designation.
Key Highlights
- Two‑unit duplex totaling 6,412 square feet
- Larger residence includes 4 bedrooms, 4.5 baths, and three levels
- Second residence offers 3 bedrooms and 2.5 baths
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
$55,112
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
3.68%
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%
$1,102,240
$1.1M
Cap Rate 7%
$787,314
$787.3K
Cap Rate 9%
$612,356
$612.4K
Market Conditions
NOI Build-Up for 6,412 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
$86.2K $13.44/SF
− Vacancy
−$7.4K −$1.16/SF
EGI
$78.7K $12.28/SF
− OpEx
−$23.6K −$3.68/SF
NOI
$55.1K $8.60/SF
Area
ZIP 70115
Vacancy
8.64%
Lease Rate
$13.44 /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%
$1,102,240
Cap Rate 7%
$787,314
Cap Rate 9%
$612,356
Alternative Uses
Best Use
Multifamily LT 5
$787.3K
$688.9K – $918.5K
NOI $55,112 @ 7.0% cap · market cap 3.68%
Second Best
Apartment 5plus
$697.9K
$610.7K – $814.3K
NOI $48,855 @ 7.0% cap · market cap 3.26%
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,417 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,806
Businesses Nearby
Explore this area
Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
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 residences offer separate living spaces, in-unit laundry, hardwood floors, and gated parking.
Where is this duplex located?
The property is located at 4721-27 Prytania Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 6,412 square feet; Larger residence includes 4 bedrooms, 4.5 baths, and three levels; Second residence offers 3 bedrooms and 2.5 baths
