Uptown New Orleans Investment
For Sale
$725,000
5420-22 Garfield Street, New Orleans, LA 70115
Rare duplex near St. Charles Avenue with income potential.
Property Size3,114 SF
Price / SF$232.82
Days on Market140
Property Features for 5420-22 Garfield Street
General Information
Standard status
Active
Size
3,114 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Amenities
Central Air
Central
2
4
7
inside
Slate
Slab: Traditional
Brick, Frame, Other
Building Details
Year Built
1923
Listing Agency:
Hospitality Realty
(504) 606-0466
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Compass
Added: Mar 26
Changed: Aug 8
Last Checked: Jul 16 at 8:08AM
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 Hospitality Realty
Investment Insights
Based on property information with market context.
This property presents an investment opportunity near St. Charles Avenue. The property features a spacious upper unit with 4 bedrooms and 2 baths, and a lower unit with 3 bedrooms and 2 baths. The owner has the option to occupy one unit while generating income from the other. There is also the possibility of converting the property into a single-family home. The property features wood floors and natural light. The property is located in a New Orleans location near streetcar access, restaurants, shopping, universities, and Uptown conveniences. The property has a size of 3114 square feet.
Key Highlights
- Prime location near St. Charles Avenue, streetcar, restaurants, shopping, and universities.
- Rare owner‑occupied investment opportunity with two separate units.
- Spacious upper unit with 4 bedrooms and 2 baths.
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
$26,765
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
3.69%
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%
$535,300
$535.3K
Cap Rate 7%
$382,357
$382.4K
Cap Rate 9%
$297,389
$297.4K
Market Conditions
NOI Build-Up for 3,114 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
$41.9K $13.44/SF
− Vacancy
−$3.6K −$1.16/SF
EGI
$38.2K $12.28/SF
− OpEx
−$11.5K −$3.68/SF
NOI
$26.8K $8.60/SF
Area
ZIP 70115
Vacancy
8.64%
Lease Rate
$13.44 /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%
$535,300
Cap Rate 7%
$382,357
Cap Rate 9%
$297,389
Alternative Uses
Best Use
Multifamily LT 5
$382.4K
$334.6K – $446.1K
NOI $26,765 @ 7.0% cap · market cap 3.69%
Second Best
Apartment 5plus
$338.9K
$296.6K – $395.4K
NOI $23,726 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$821.6K
$718.9K – $958.5K
NOI $57,509 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,632
Businesses Nearby
Explore this area
Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Rare duplex near St. Charles Avenue with income potential.
Where is this duplex located?
The property is located at 5420-22 Garfield Street New Orleans, LA.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Prime location near St. Charles Avenue, streetcar, restaurants, shopping, and universities.; Rare owner‑occupied investment opportunity with two separate units.; Spacious upper unit with 4 bedrooms and 2 baths.
