Renovated Two-Unit
For Sale
$349,900
Pending
517-519 Leboeuf St, New Orleans, LA 70114
Updated kitchens, central air, and distinct two- and three-bathroom layouts support flexible occupancy or rental use.
Property Size1,810 SF
Days on Market46
Property Features for 517-519 Leboeuf St
General Information
Standard status
Pending
Size
1,810 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/1BA, 1 x 2BR/2BA
Multifamily Units
2
Building Details
Year Built
1970
Buildings
1
Listing Agency:
Nola Living Realty
(504) 301-9757
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Jul 20
Changed: Aug 31
Last Checked: Aug 30 at 4:22PM
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 Nola Living Realty
Investment Insights
Based on property information with market context.
Built in 1970, this two-unit residential property contains 1,810 square feet arranged across two updated residences. One unit offers two bedrooms and one full bathroom, while the second includes two bedrooms and two full bathrooms. Both feature generous living areas, refreshed kitchens, modern finishes, central air, and central heating. Recent renovation work complements the building’s original character, with HardiPlank Type and stucco exterior materials, a porch, and pillar/post/pier construction.
The property is located at 517-519 Leboeuf Street in New Orleans’ Old Algiers neighborhood. Access to the Crescent City Connection places downtown New Orleans within convenient reach, while Algiers Point, shopping, restaurants, parks, and public transportation are also identified nearby. The configuration supports separate occupancy of the units, including living in one residence while renting the other.
The property is located at 517-519 Leboeuf Street in New Orleans’ Old Algiers neighborhood. Access to the Crescent City Connection places downtown New Orleans within convenient reach, while Algiers Point, shopping, restaurants, parks, and public transportation are also identified nearby. The configuration supports separate occupancy of the units, including living in one residence while renting the other.
Key Highlights
- Two‑unit property with 1,810 square feet
- Unit mix includes two bedrooms and one full bathroom, plus two bedrooms and two full bathrooms
- Updated kitchens, modern finishes, central air, and central heating
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
$22,919
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
6.55%
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%
$458,380
$458.4K
Cap Rate 7%
$327,414
$327.4K
Cap Rate 9%
$254,656
$254.7K
Market Conditions
NOI Build-Up for 1,810 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
$35.8K $19.80/SF
− Vacancy
−$3.1K −$1.71/SF
EGI
$32.7K $18.09/SF
− OpEx
−$9.8K −$5.43/SF
NOI
$22.9K $12.66/SF
Area
New Orleans, LA
Vacancy
8.64%
Lease Rate
$19.80 /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%
$458,380
Cap Rate 7%
$327,414
Cap Rate 9%
$254,656
Alternative Uses
Best Use
Multifamily LT 5
$327.4K
$286.5K – $382.0K
NOI $22,919 @ 7.0% cap · market cap 6.55%
Second Best
Apartment 5plus
$300.9K
$263.3K – $351.1K
NOI $21,066 @ 7.0% cap · market cap 6.02%
Theoretical Best
Office A
$460.0K
$402.5K – $536.7K
NOI $32,203 @ 7.0% cap · market cap 9.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
455
Businesses Nearby
Explore this area
Business Placement
Demographics for 70114, LA
23,127
Population
11,860
Households
2
Avg Household Size
38
Median Age
26%
College-Educated
86%
High-School Grad
5.1 sq mi
ZIP Area
4,535
Density / Sq Mi
$41,435
Median Household Income
$31,743
Median Earnings
$1,113
Median Rent
$194,100
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 - Updated kitchens, central air, and distinct two- and three-bathroom layouts support flexible occupancy or rental use.
Where is this duplex located?
The property is located at 517-519 Leboeuf St New Orleans, LA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Two‑unit property with 1,810 square feet; Unit mix includes two bedrooms and one full bathroom, plus two bedrooms and two full bathrooms; Updated kitchens, modern finishes, central air, and central heating
