Two-Unit Duplex with
For Sale
$290,000
527 S GALVEZ Street, New Orleans, LA 70119
Multi-Family, Shot Gun, New Orleans, LA
Property Size1,644 SF
Lot Size0.09 Acres
Price / SF$176.40
Days on Market95
Property Features for 527 S GALVEZ Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Off Street
Security features
Security
Exterior features
Fence, Security Cameras
Fencing
Fenced
Lot features
Regular
Standard status
Active
APN
104105020
Size
1,644 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Description
SQ 528 LOT 28 GALVEZ 30' X 132' 4" 527 S GALVEZ ST APT A
Legal Description
SQ 528 LOT 28 GALVEZ 30' X 132' 4" 527 S GALVEZ ST APT A
Utilities
Heating system
Ductless (Heating), Other (Heating)
Cooling system
Window Unit(s), Wall Unit(s), Ductless
Water source
Public
Amenities
washer and dryer hookups
off street parking
fenced in
courtyard
Building Details
Year built
1900
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:
Kevin Oakes · License #995711946
(985) 237-4356
Added: May 20
Changed: Aug 19
Last Checked: Aug 22 at 11:06PM
MLS# 2559145
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 1,644-square-foot duplex on 0.0911 acres contains two separate residential units. The larger residence offers three bedrooms, two bathrooms, 12-foot ceilings, granite countertops, wood flooring, and abundant natural light. The second unit includes one bedroom, one bathroom, and tile flooring. Both units have washer and dryer hookups.
The property includes a fenced exterior, a compact courtyard area, off-street parking, and security cameras. Heating and cooling are provided through ductless, window, and wall-mounted systems. Public water service and a shingle roof are also in place. Located in New Orleans near LSU Health, LCMC Health, the VA hospital, downtown, and City Park.
The property includes a fenced exterior, a compact courtyard area, off-street parking, and security cameras. Heating and cooling are provided through ductless, window, and wall-mounted systems. Public water service and a shingle roof are also in place. Located in New Orleans near LSU Health, LCMC Health, the VA hospital, downtown, and City Park.
Key Highlights
- Two‑unit duplex totaling 1,644 square feet on 0.0911 acres
- Unit mix includes 3 bedrooms and 2 bathrooms plus 1 bedroom and 1 bathroom
- Larger unit features 12‑foot ceilings, granite countertops, and wood floors
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
$20,817
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
7.18%
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%
$416,340
$416.3K
Cap Rate 7%
$297,386
$297.4K
Cap Rate 9%
$231,300
$231.3K
Market Conditions
NOI Build-Up for 1,644 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
$32.6K $19.80/SF
− Vacancy
−$2.8K −$1.71/SF
EGI
$29.7K $18.09/SF
− OpEx
−$8.9K −$5.43/SF
NOI
$20.8K $12.66/SF
Area
ZIP 70119
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%
$416,340
Cap Rate 7%
$297,386
Cap Rate 9%
$231,300
Alternative Uses
Best Use
Multifamily LT 5
$297.4K
$260.2K – $347.0K
NOI $20,817 @ 7.0% cap · market cap 7.18%
Second Best
Apartment 5plus
$273.3K
$239.2K – $318.9K
NOI $19,134 @ 7.0% cap · market cap 6.60%
Theoretical Best
Office A
$430.2K
$376.4K – $501.9K
NOI $30,113 @ 7.0% cap · market cap 10.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,565
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with distinct layouts, outdoor space, and off-street parking.
Where is this duplex located?
The property is located at 527 S GALVEZ Street New Orleans, LA.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,644 square feet on 0.0911 acres; Unit mix includes 3 bedrooms and 2 bathrooms plus 1 bedroom and 1 bathroom; Larger unit features 12‑foot ceilings, granite countertops, and wood floors
