Duplex with Gated
For Sale
$1,499,000
Pending
4721 27 PRYTANIA Street, New Orleans, LA 70115
Two-unit double with in-unit laundry, hardwood finishes, and electric gated parking for owner-occupy or rental.
Property Size6,412 SF
Days on Market210
Property Features for 4721 27 PRYTANIA Street
General Information
Standard status
Pending
Size
6,412 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Building Details
Building Size
6,412 SF
Year Built
1908
Tenancy
Multi
Listing Agency:
eXp Realty, LLC
(504) 344-0877
Listed By:
Adrienne LaBauve · License #995684424
(504) 344-0877
Source:
Talbot-realty
Added: Jan 26
Changed: Aug 8
Last Checked: Jul 29 at 3:32AM
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.
This duplex offers a versatile two-unit layout with substantial living space and strong privacy. The larger residence spans three levels with four bedrooms and 4.5 baths, including a sun-filled room off the kitchen designed for entertaining, plus a third-floor full bath and flexible space that can serve as a bedroom, media room, or bonus area. The primary suite includes a private balcony overlooking historic Prytania Street. The second unit features three bedrooms and 2.5 baths, arranged so no bedrooms share walls with the adjoining unit.
Both units include in-unit washer and dryers, expansive kitchens, tall ceilings, hardwood floors, and classic louvered shutters throughout. Offsite storage is supported by a raised basement. Additional exterior/parking benefits include electric gated parking for multiple vehicles for each unit. The property is listed in Flood Zone X, and the current owners are noted for meticulous upkeep.
For buyers, the configuration supports a range of household uses, from living in one unit while renting the other to accommodating extended family under one ownership. The combination of multi-level layouts, in-unit laundry, and dedicated gated parking adds practical functionality for day-to-day occupancy.
Both units include in-unit washer and dryers, expansive kitchens, tall ceilings, hardwood floors, and classic louvered shutters throughout. Offsite storage is supported by a raised basement. Additional exterior/parking benefits include electric gated parking for multiple vehicles for each unit. The property is listed in Flood Zone X, and the current owners are noted for meticulous upkeep.
For buyers, the configuration supports a range of household uses, from living in one unit while renting the other to accommodating extended family under one ownership. The combination of multi-level layouts, in-unit laundry, and dedicated gated parking adds practical functionality for day-to-day occupancy.
Key Highlights
- 1908‑built Prytania Street double with a versatile two‑unit layout and in‑unit washer/dryers in both residences
- Larger unit offers 4 bedrooms and 4.5 baths across three levels, including a sun‑filled room off the kitchen
- Third floor includes a full bath plus flexible space for a bedroom, media room, or bonus area
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
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
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-unit double with in-unit laundry, hardwood finishes, and electric gated parking for owner-occupy or rental.
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: 1908‑built Prytania Street double with a versatile two‑unit layout and in‑unit washer/dryers in both residences; Larger unit offers 4 bedrooms and 4.5 baths across three levels, including a sun‑filled room off the kitchen; Third floor includes a full bath plus flexible space for a bedroom, media room, or bonus area
