Duplex with Private
For Sale
$290,000
527 S GALVEZ Street, New Orleans, LA 70119
Two-unit property with flexible occupancy, off-street parking, and separate laundry hookups for each residence.
Property Size1,644 SF
Days on Market106
Property Features for 527 S GALVEZ Street
General Information
Standard status
Active
Size
1,644 SF
Property subtype
Duplex
Units
Unit Mix
1 x 3BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Amenities
off-street parking
fenced yard
courtyard
washer/dryer hookups
Building Details
Building Size
1,644 SF
Year Built
1900
Buildings
1
Listing Agency:
Homesmart Realty South
Listed By:
Kevin Oakes · License #995711946
(985) 237-4356
Source:
Ewbank.kw
Added: May 20
Changed: Aug 31
Last Checked: Sep 1 at 2:39PM
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 Homesmart Realty South
Investment Insights
Based on property information with market context.
Built in 1900, this 1,644-square-foot duplex includes two distinct residences with a practical mix of living arrangements. One unit offers three bedrooms and two bathrooms, along with 12-foot ceilings, granite countertops, wood flooring, and abundant natural light. The second residence contains one bedroom and one bathroom with tile flooring. Both units include washer and dryer hookups.
The property is fenced and provides off-street parking plus a small courtyard area. Its New Orleans location places the duplex minutes from LSU Health, LCMC Health, the VA hospital, downtown, and City Park. The configuration supports owner occupancy with an additional residence or continued use as a two-unit income property.
The property is fenced and provides off-street parking plus a small courtyard area. Its New Orleans location places the duplex minutes from LSU Health, LCMC Health, the VA hospital, downtown, and City Park. The configuration supports owner occupancy with an additional residence or continued use as a two-unit income property.
Key Highlights
- 1,644‑square‑foot duplex built in 1900
- Unit mix includes a 3‑bedroom, 2‑bath residence and a 1‑bedroom, 1‑bath residence
- 12‑foot ceilings, granite countertops, and wood floors in the larger unit
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 flexible occupancy, off-street parking, and separate laundry hookups for each residence.
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: 1,644‑square‑foot duplex built in 1900; Unit mix includes a 3‑bedroom, 2‑bath residence and a 1‑bedroom, 1‑bath residence; 12‑foot ceilings, granite countertops, and wood floors in the larger unit
