Duplex With Covered Rear
For Sale
$525,000
5008 Newlands St, Metairie, LA 70006
Tenant-occupied duplex with rear parking, shared-driveway access, and outdoor patio areas.
Property Size3,635 SF
Price / SF$144.43
Days on Market19
Property Features for 5008 Newlands St
General Information
Standard status
Active
Size
3,635 SF
Property subtype
Residential Income
Amenities
covered rear patios
Listing Agency:
Bourg Realty Group LLC
(504) 884-1005
Listed By:
Mary Paulk
(504) 884-1005
Source:
Exprealty
Added: Jul 24
Changed: Aug 11
Last Checked: Aug 11 at 10:45AM
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 Bourg Realty Group LLC
Investment Insights
Based on property information with market context.
Located at 5008 Newlands St in Metairie, this duplex contains 3,635 square feet with six bedrooms, four full bathrooms, and two half bathrooms. The property includes covered rear patios and rear parking reached through a shared driveway.
Long-term tenants are already in place. The roofs were installed circa 2020 and are approximately 6 years old, adding a relatively recent major building improvement to the property’s physical profile.
Long-term tenants are already in place. The roofs were installed circa 2020 and are approximately 6 years old, adding a relatively recent major building improvement to the property’s physical profile.
Key Highlights
- Duplex with 6 bedrooms, 4 full bathrooms, and 2 half bathrooms
- 3,635 SF property at 5008 Newlands St, Metairie, LA
- Long‑term tenants are in place
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
$38,871
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
7.40%
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%
$777,420
$777.4K
Cap Rate 7%
$555,300
$555.3K
Cap Rate 9%
$431,900
$431.9K
Market Conditions
NOI Build-Up for 3,635 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
$58.9K $16.20/SF
− Vacancy
−$3.4K −$0.92/SF
EGI
$55.5K $15.28/SF
− OpEx
−$16.7K −$4.58/SF
NOI
$38.9K $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%
$777,420
Cap Rate 7%
$555,300
Cap Rate 9%
$431,900
Alternative Uses
Best Use
Multifamily LT 5
$555.3K
$485.9K – $647.9K
NOI $38,871 @ 7.0% cap · market cap 7.40%
Second Best
Apartment 5plus
$483.2K
$422.8K – $563.8K
NOI $33,827 @ 7.0% cap · market cap 6.44%
Theoretical Best
Office A
$851.2K
$744.8K – $993.1K
NOI $59,586 @ 7.0% cap · market cap 11.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
790
Businesses Nearby
Explore this area
Business Placement
Demographics for 70006, LA
16,540
Population
6,645
Households
2.5
Avg Household Size
39
Median Age
38%
College-Educated
89%
High-School Grad
2.6 sq mi
ZIP Area
6,362
Density / Sq Mi
$74,049
Median Household Income
$42,120
Median Earnings
$1,206
Median Rent
$333,000
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 - Tenant-occupied duplex with rear parking, shared-driveway access, and outdoor patio areas.
Where is this duplex located?
The property is located at 5008 Newlands St Metairie, LA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Duplex with 6 bedrooms, 4 full bathrooms, and 2 half bathrooms; 3,635 SF property at 5008 Newlands St, Metairie, LA; Long‑term tenants are in place
