Duplex with Three-Bedroom
For Sale
$439,000
4917 PAINTERS Street, New Orleans, LA 70122
Multi-Family, Camelback, New Orleans, LA
Property Size3,372 SF
Price / SF$130.19
Days on Market67
Property Features for 4917 PAINTERS Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Off Street, Driveway
Lot features
Regular
Subdivision
Gentilly Terrace
Standard status
Active
APN
38W405320
Size
3,372 SF
Taxes and HOA fees
Tax Description
1. GENTILLY TERRACE SQ 52 LOTS 2. 41 42 PAINTERS 50X119 3. HI-LO DBLE/FR 13/RM 2 GARAGE
Legal Description
1. GENTILLY TERRACE SQ 52 LOTS 2. 41 42 PAINTERS 50X119 3. HI-LO DBLE/FR 13/RM 2 GARAGE
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
eXp Realty, LLC
(337) 522-7554
Listed By:
Clare Folson · License #995689817
(504) 261-9152
Added: Jun 17
Changed: Aug 20
Last Checked: Aug 22 at 8:06AM
MLS# 2563479
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Renovated duplex (built in 1930) offering three private bedrooms and two bathrooms in each unit, with a functional layout that avoids the traditional shotgun configuration. Interior details include original 1930s Craftsman woodwork, arched ceiling openings, plaster walls, and hardwood floors. Each unit features spacious double-parlor living and dining rooms that flow into renovated kitchens with stone countertops and abundant storage. A versatile downstairs flex space, located off the kitchen, currently functions as a primary suite with an en-suite bath, closets, and a laundry area, with flexibility to serve as a den, office, music room, guest suite, or a combination of uses.
Recent major updates include a roof and central HVAC systems that are only two years old. The property has private driveways with off-street parking accommodating up to three vehicles per side, or boat and trailer parking.
Public water and shingle roofing are in place, with central heating and central air conditioning supported throughout. The duplex is one block from Audubon Elementary and a neighborhood park.
Recent major updates include a roof and central HVAC systems that are only two years old. The property has private driveways with off-street parking accommodating up to three vehicles per side, or boat and trailer parking.
Public water and shingle roofing are in place, with central heating and central air conditioning supported throughout. The duplex is one block from Audubon Elementary and a neighborhood park.
Key Highlights
- Renovated duplex built in 1930 with Craftsman woodwork, arched openings, plaster walls, and hardwood floors
- Each unit includes three private bedrooms and two bathrooms; no traditional shotgun layout
- Renovated kitchens with stone countertops and abundant storage
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
$34,935
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
7.96%
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%
$698,700
$698.7K
Cap Rate 7%
$499,071
$499.1K
Cap Rate 9%
$388,167
$388.2K
Market Conditions
NOI Build-Up for 3,372 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
$54.6K $16.20/SF
− Vacancy
−$4.7K −$1.40/SF
EGI
$49.9K $14.80/SF
− OpEx
−$15.0K −$4.44/SF
NOI
$34.9K $10.36/SF
Area
ZIP 70122
Vacancy
8.64%
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%
$698,700
Cap Rate 7%
$499,071
Cap Rate 9%
$388,167
Alternative Uses
Best Use
Multifamily LT 5
$499.1K
$436.7K – $582.3K
NOI $34,935 @ 7.0% cap · market cap 7.96%
Second Best
Apartment 5plus
$433.5K
$379.3K – $505.8K
NOI $30,345 @ 7.0% cap · market cap 6.91%
Theoretical Best
Office A
$882.3K
$772.1K – $1.03M
NOI $61,764 @ 7.0% cap · market cap 14.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
440
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 - Renovated duplex with central HVAC and roof systems about two years old, plus three-bedroom layouts in each unit.
Where is this duplex located?
The property is located at 4917 PAINTERS Street New Orleans, LA.
What is the asking price?
The asking price for this property is $439,000.
What are key features of this property?
This property features: Renovated duplex built in 1930 with Craftsman woodwork, arched openings, plaster walls, and hardwood floors; Each unit includes three private bedrooms and two bathrooms; no traditional shotgun layout; Renovated kitchens with stone countertops and abundant storage
