Furnished Duplex with Office
For Sale
$520,000
5513 Tchoupitoulas Street #5515, New Orleans, LA 70115
Renovated two-unit property with furnished interiors, separate laundry facilities, and a bonus room connected to one residence.
Property Size2,501 SF
Days on Market190
Property Features for 5513 Tchoupitoulas Street #5515
General Information
Standard status
Active
Size
2,501 SF
Property subtype
Commercial
Zoning
HU MU
Amenities
eleven foot ceilings
oak flooring
ceiling fans
stainless steel kitchen appliances
separate laundry facility for each unit in outside sheds
Building Details
Building Size
2,501 SF
Year Built
1914
Year Renovated
2006
Stories
2
Tenancy
Multi
Listing Agency:
Keller Williams Realty 455-0100
(504) 473-8320
Listed By:
Lynn Morgan · License #000021015
(504) 473-8320
Source:
Nolalivingrealty
Added: Jan 30
Changed: Aug 2
Last Checked: Aug 8 at 12:43PM
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 Keller Williams Realty 455-0100
Investment Insights
Based on property information with market context.
Built in 1914, this duplex includes two furnished units and an office area on one side, creating a flexible owner-occupant configuration. A prior renovation was completed in 2006. Interior features include 11-foot ceilings, oak floors, ceiling fans, and stainless steel kitchen appliances. Each unit has its own laundry facility in an exterior shed. The 5513 unit includes a private staircase to the second floor and an 826-square-foot bonus room with heating and air conditioning; that space is included in the stated living area.
The property is positioned across from Aldi and the Riverside Market shops and restaurants, with access to Uptown, Audubon Park, the Garden District, and downtown. Magazine Street shops and restaurants are within walking distance. One unit is leased through the end of December 2026. Zoning is HU MU.
The property is positioned across from Aldi and the Riverside Market shops and restaurants, with access to Uptown, Audubon Park, the Garden District, and downtown. Magazine Street shops and restaurants are within walking distance. One unit is leased through the end of December 2026. Zoning is HU MU.
Key Highlights
- Duplex with furnished units and office space on one side
- Renovation completed in 2006; original construction dates to 1914
- 11‑foot ceilings, oak flooring, ceiling fans, and stainless steel appliances
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
$21,496
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
4.13%
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%
$429,920
$429.9K
Cap Rate 7%
$307,086
$307.1K
Cap Rate 9%
$238,844
$238.8K
Market Conditions
NOI Build-Up for 2,501 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
$33.6K $13.44/SF
− Vacancy
−$2.9K −$1.16/SF
EGI
$30.7K $12.28/SF
− OpEx
−$9.2K −$3.68/SF
NOI
$21.5K $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%
$429,920
Cap Rate 7%
$307,086
Cap Rate 9%
$238,844
Alternative Uses
Best Use
Multifamily LT 5
$307.1K
$268.7K – $358.3K
NOI $21,496 @ 7.0% cap · market cap 4.13%
Second Best
Apartment 5plus
$272.2K
$238.2K – $317.6K
NOI $19,056 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$659.8K
$577.4K – $769.8K
NOI $46,188 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,576
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
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Frequently Asked Questions
What type of property is this?
Duplex - Renovated two-unit property with furnished interiors, separate laundry facilities, and a bonus room connected to one residence.
Where is this duplex located?
The property is located at 5513 Tchoupitoulas Street #5515 New Orleans, LA.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: Duplex with furnished units and office space on one side; Renovation completed in 2006; original construction dates to 1914; 11‑foot ceilings, oak flooring, ceiling fans, and stainless steel appliances
