Updated Cottagetown Duplex
510 NURSERY Avenue Metairie, LA 70005
For Sale
$672,000
MULTI_FAMILY - Metairie, LA
Property Size2,912 SF
Price / SF$230.77
Days on Market138
Property Features for 510 NURSERY Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Driveway
Patio and Porch features
Porch
Exterior features
Fence, Porch
Fencing
Fenced
Standard status
Active
APN
0820031450
Size
2,912 SF
Taxes and HOA fees
Tax Description
LOT 6A SQ 21 METAIRIE RIDGE NURSERY 10617848
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1960
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
(504) 455-0100
Listed By:
Vonnie Leard
(504) 669-8822
Added: Mar 13
Changed: Jun 11
Last Checked: Jul 28 at 5:06PM
MLS# 2547500
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 property is an updated original cottage with seamless additions and a well-kept garden, centered around a covered front porch. Inside, the open living and dining floor plan features a kitchen with custom cabinets, granite countertops, and stainless steel appliances, along with a walk-in pantry and mudroom for added storage. The original cottage includes an office/bedroom, a second bedroom, and a full bath. A first addition adds 9-foot ceilings and custom double crown molding in a spacious den with a wood/gas fireplace and built-in entertainment center, plus a large primary bedroom with a walk-in closet and en-suite bathroom with a jacuzzi tub. A fourth bedroom includes a unique spiral staircase leading to a sitting room in the upstairs apartment, which includes a kitchen, bathroom, and sitting room, along with an additional exterior access point.
Outside, the home sits on an oversized lot with a large backyard. The upstairs sitting room and a covered patio overlook the backyard, and there is a detached storage building. A driveway can accommodate multiple vehicles, and there is a secured side entrance.
With both a main living layout and an upstairs apartment configuration, the property can suit buyers seeking flexible use, including the option to support multi-generational living or generate rental income based on the existing apartment amenities and separate access.
Outside, the home sits on an oversized lot with a large backyard. The upstairs sitting room and a covered patio overlook the backyard, and there is a detached storage building. A driveway can accommodate multiple vehicles, and there is a secured side entrance.
With both a main living layout and an upstairs apartment configuration, the property can suit buyers seeking flexible use, including the option to support multi-generational living or generate rental income based on the existing apartment amenities and separate access.
Key Highlights
- Oversized lot in desirable Old Metairie location.
- Two to three bedroom apartment with separate entrance, kitchen, and bathroom offers rental income potential or nanny suite.
- Updated kitchen with custom cabinets, granite countertops, stainless steel appliances, and walk‑in pantry.
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 | $47.2k | $16.20 |
| − Vacancy | −$2.7k | −$0.92 |
| EGI | $44.5k | $15.28 |
| − OpEx | −$13.3k | −$4.58 |
| NOI | $31.1k | $10.69 |
2,912 SF · lease $16.20/SF/yr · vacancy 5.70% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$444.9K
$389.3K – $519.0K
NOI $31,140 @ 7.0% cap · market cap 4.63%
Second Best
Apartment 5plus
$387.1K
$338.7K – $451.7K
NOI $27,099 @ 7.0% cap · market cap 4.03%
Theoretical Best
Office A
$681.9K
$596.7K – $795.6K
NOI $47,734 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Updated original cottage with a separate upstairs apartment layout, offering flexible living or rental-ready options on an oversized lot.
Where is this duplex located?
The property is located at 510 NURSERY Avenue Metairie, LA.
What is the asking price?
The asking price for this property is $672,000.
What are key features of this property?
This property features: Oversized lot in desirable Old Metairie location.; Two to three bedroom apartment with separate entrance, kitchen, and bathroom offers rental income potential or nanny suite.; Updated kitchen with custom cabinets, granite countertops, stainless steel appliances, and walk‑in pantry.
