Renovated Duplex with Office
For Sale
$520,000
5515-5513 Tchoupitoulas St, New Orleans, LA 70130
Renovated duplex featuring furnished units, high ceilings, and separate laundry facilities, with office space on one side.
Property Size2,501 SF
Price / SF$207.92
Days on Market198
Property Features for 5515-5513 Tchoupitoulas St
General Information
Standard status
Active
Size
2,501 SF
Occupancy
50%
Additional Details
Clear Height
11 ft
Multifamily Units
2
Building Details
Year Renovated
2006
Tenancy
Multi
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
(504) 473-8320
Listed By:
Lynn Morgan · License #000021015
(504) 473-8320
Source:
Exprealty
Added: Feb 6
Changed: Aug 21
Last Checked: Aug 23 at 4:11AM
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.
This renovated duplex offers an owner-occupant friendly setup, with office space on one side of the double. The property was renovated in 2006, and the units are sold furnished. Interior features include eleven-foot ceilings, oak flooring, ceiling fans, and stainless steel kitchen appliances. Each unit also has a separate laundry facility located in outside sheds. The 5513 unit includes a dedicated staircase to the second floor, where the second-floor area is 826 sq. ft. There is also a bonus room under air/heat, included within the stated living space.
The property is located directly across from an Aldi market and Riverside Market shops and restaurants. It provides easy access to Uptown, Audubon Park, Garden District, and downtown, with walkability to Magazine Street shops and restaurants.
One side of the double is currently rented through the end of December 2026, which may suit buyers seeking an income component while retaining the opportunity to occupy the other side as an office and/or residence. The combination of furnished availability, high-ceiling finishes, and unit-level laundry supports a tenant-ready presentation for office and residential use.
The property is located directly across from an Aldi market and Riverside Market shops and restaurants. It provides easy access to Uptown, Audubon Park, Garden District, and downtown, with walkability to Magazine Street shops and restaurants.
One side of the double is currently rented through the end of December 2026, which may suit buyers seeking an income component while retaining the opportunity to occupy the other side as an office and/or residence. The combination of furnished availability, high-ceiling finishes, and unit-level laundry supports a tenant-ready presentation for office and residential use.
Key Highlights
- Renovated duplex by previous owner in 2006, with furnished units
- One side of double is currently rented through end of December 2026
- 5513 unit includes a dedicated staircase to the second floor and 826 sq. ft.
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
$31,669
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
6.09%
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%
$633,380
$633.4K
Cap Rate 7%
$452,414
$452.4K
Cap Rate 9%
$351,878
$351.9K
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
$49.5K $19.80/SF
− Vacancy
−$4.3K −$1.71/SF
EGI
$45.2K $18.09/SF
− OpEx
−$13.6K −$5.43/SF
NOI
$31.7K $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%
$633,380
Cap Rate 7%
$452,414
Cap Rate 9%
$351,878
Alternative Uses
Best Use
Multifamily LT 5
$452.4K
$395.9K – $527.8K
NOI $31,669 @ 7.0% cap · market cap 6.09%
Second Best
Apartment 5plus
$415.8K
$363.9K – $485.2K
NOI $29,109 @ 7.0% cap · market cap 5.60%
Theoretical Best
Office A
$635.7K
$556.2K – $741.6K
NOI $44,497 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11 ft
Clear height
2
Residential units
50%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,576
Businesses Nearby
Explore this area
Business Placement
Demographics for 70130, LA
14,521
Population
10,927
Households
1.3
Avg Household Size
38
Median Age
64%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
6,915
Density / Sq Mi
$82,758
Median Household Income
$52,492
Median Earnings
$1,410
Median Rent
$529,300
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 - Renovated duplex featuring furnished units, high ceilings, and separate laundry facilities, with office space on one side.
Where is this duplex located?
The property is located at 5515-5513 Tchoupitoulas St 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: Renovated duplex by previous owner in 2006, with furnished units; One side of double is currently rented through end of December 2026; 5513 unit includes a dedicated staircase to the second floor and 826 sq. ft.
