Updated Duplex in New
For Sale
$329,900
508 S MURAT Street, New Orleans, LA 70119
MULTI_FAMILY - New Orleans, LA
Property Size2,036 SF
Price / SF$162.03
Days on Market382
Property Features for 508 S MURAT Street
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Parking features
Off Street
Patio and Porch features
Porch
Exterior features
Fence, Porch
Fencing
Fenced
Lot features
Regular
Standard status
Active
Size
2,036 SF
Taxes and HOA fees
Tax Description
SQ 806 LOT 17 S MURAT 36X112 508-510 SO MURAT
Legal Description
SQ 806 LOT 17 S MURAT 36X112 508-510 SO MURAT
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1910
Floors in Building
1
Number of units
2
Roof type
Shingle
Architectural style
Ranch
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
(504) 455-0100
Listed By:
Joyce Guidroz · License #995682077
(504) 669-8822
Added: Jul 15, 2025
Changed: May 14
Last Checked: Jul 31 at 9:06AM
MLS# 2511984
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.
This updated duplex in New Orleans presents an investment opportunity. Each side of the duplex features 2 bedrooms and 1 bathroom. The property is suitable for both homeowners and investors. It is located minutes from the city's culture, dining, and entertainment. The property size is 2036 square feet.
Key Highlights
- Duplex: Two separate units, each with 2 bedrooms and 1 bathroom
- Income Potential: Ideal for house‑hacking or rental income
- Prime Location: In the heart of New Orleans, close to culture, dining, and entertainment
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $40.3k | $19.80 |
| − Vacancy | −$3.5k | −$1.71 |
| EGI | $36.8k | $18.09 |
| − OpEx | −$11.0k | −$5.43 |
| NOI | $25.8k | $12.66 |
2,036 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$368.3K
$322.3K – $429.7K
NOI $25,781 @ 7.0% cap · market cap 7.81%
Second Best
Apartment 5plus
$338.5K
$296.2K – $395.0K
NOI $23,697 @ 7.0% cap · market cap 7.18%
Theoretical Best
Office A
$532.8K
$466.2K – $621.6K
NOI $37,293 @ 7.0% cap · market cap 11.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,280
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Updated duplex in the heart of New Orleans.
Where is this duplex located?
The property is located at 508 S MURAT Street New Orleans, LA.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: Duplex: Two separate units, each with 2 bedrooms and 1 bathroom; Income Potential: Ideal for house‑hacking or rental income; Prime Location: In the heart of New Orleans, close to culture, dining, and entertainment
