Renovated Two-Unit
For Sale
$349,900
Pending
517-519 LEBOEUF Street, New Orleans, LA 70114
Multi-Family, Traditional, New Orleans, LA
Property Size1,810 SF
Days on Market53
Property Features for 517-519 LEBOEUF Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Patio and Porch features
Porch
Exterior features
Porch
Subdivision
Algiers Riverpoint
Lot features
Regular
Standard status
Pending
APN
519-LEBOEUFST
Size
1,810 SF
Taxes and HOA fees
Tax Description
As per title
Legal Description
As per title
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1970
Floors in Building
1
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
Homesmart Realty South · HomeSmart International
(504) 908-7653
Listed By:
Chantell Clair · License #995691717
(504) 214-0341
Added: Jul 13
Changed: Aug 26
Last Checked: Sep 2 at 11:06PM
MLS# 2567570
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 renovated duplex at 517-519 LeBoeuf Street contains 1,810 square feet across two residential units. One unit provides 2 bedrooms and 1 full bathroom, while the other includes 2 bedrooms and 2 full bathrooms. Both residences feature spacious living areas, updated kitchens, and modern finishes. A porch, central heating, central air, public water service, and a shingle roof are also included. The property was built in 1970 and has undergone recent renovations.
The duplex is located in the Old Algiers neighborhood of New Orleans, with access to the Crescent City Connection, downtown New Orleans, Algiers Point, shopping, restaurants, parks, and public transportation. Its two-unit configuration supports separate occupancy arrangements within a single residential property.
The duplex is located in the Old Algiers neighborhood of New Orleans, with access to the Crescent City Connection, downtown New Orleans, Algiers Point, shopping, restaurants, parks, and public transportation. Its two-unit configuration supports separate occupancy arrangements within a single residential property.
Key Highlights
- Two‑unit duplex with 1,810 square feet
- Unit mix includes 2 bedrooms and 1 full bathroom, plus 2 bedrooms and 2 full bathrooms
- Recent renovations include updated kitchens and modern finishes
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
Yes
Paved road 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 - Two residential units offer updated kitchens, modern finishes, and distinct bedroom-bathroom configurations.
Where is this duplex located?
The property is located at 517-519 LEBOEUF Street 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 duplex with 1,810 square feet; Unit mix includes 2 bedrooms and 1 full bathroom, plus 2 bedrooms and 2 full bathrooms; Recent renovations include updated kitchens and modern finishes
