Historic Victorian
For Sale
$340,000
522 VERRET Street, New Orleans, LA 70114
Multi-Family, Arts and Crafts, New Orleans, LA
Property Size1,820 SF
Lot Size0.08 Acres
Price / SF$186.81
Days on Market187
Property Features for 522 VERRET Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Patio and Porch features
Porch
Exterior features
Courtyard, Fence, Porch
Fencing
Fenced
Lot features
Oversized
Subdivision
algiers point
Standard status
Active
APN
513109316
Size
1,820 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Description
SQ 93 LOT 19 31 X 114/116 522/524 VERRET
Legal Description
SQ 93 LOT 19 31 X 114/116 522/524 VERRET
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
energy efficient windows
central air conditioning
central heating
wrought iron fence
covered porch
wood floors
fireplace
large closets
courtyard
storage shed
fenced backyard
washer and dryer
Building Details
Year built
1900
Floors in Building
1
Number of units
2
Architectural style
Other
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
(504) 455-0100
Listed By:
Sybil Orr · License #000077143
(504) 444-6640
Added: Mar 12
Changed: Sep 14
Last Checked: Sep 14 at 6:06PM
MLS# 2547345
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.
Built in 1900, this 1,820-square-foot duplex contains two residences with comparable floor plans, totaling four bedrooms and two bathrooms. Each side has central air conditioning and heat, while utilities are individually metered; water is supplied through one source. Interior details include wood flooring, decorative fireplace mantels, high ceilings, spacious rooms, large bedroom closets, and full-size washers and dryers. The property also includes appliances, a covered concrete porch, wrought iron fencing, a rear courtyard, storage shed, and enclosed backyard.
The home is on a paved street in Algiers Point, within walking distance of a grocery store, school, parks, the levee, and a ferry landing. Historic tax credits may be available at both the state and federal levels.
The home is on a paved street in Algiers Point, within walking distance of a grocery store, school, parks, the levee, and a ferry landing. Historic tax credits may be available at both the state and federal levels.
Key Highlights
- 1900‑built duplex with 1,820 square feet of interior space
- Two units with similar floor plans, totaling 4 bedrooms and 2 bathrooms
- Central A/C and heat serving each side; utilities individually metered
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
$23,046
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
6.78%
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%
$460,920
$460.9K
Cap Rate 7%
$329,229
$329.2K
Cap Rate 9%
$256,067
$256.1K
Market Conditions
NOI Build-Up for 1,820 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
$36.0K $19.80/SF
− Vacancy
−$3.1K −$1.71/SF
EGI
$32.9K $18.09/SF
− OpEx
−$9.9K −$5.43/SF
NOI
$23.0K $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%
$460,920
Cap Rate 7%
$329,229
Cap Rate 9%
$256,067
Alternative Uses
Best Use
Multifamily LT 5
$329.2K
$288.1K – $384.1K
NOI $23,046 @ 7.0% cap · market cap 6.78%
Second Best
Apartment 5plus
$302.6K
$264.8K – $353.1K
NOI $21,183 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$462.6K
$404.8K – $539.7K
NOI $32,381 @ 7.0% cap · market cap 9.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
749
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with separate central HVAC and individually metered utilities.
Where is this duplex located?
The property is located at 522 VERRET Street New Orleans, LA.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: 1900‑built duplex with 1,820 square feet of interior space; Two units with similar floor plans, totaling 4 bedrooms and 2 bathrooms; Central A/C and heat serving each side; utilities individually metered
