Craftsman Duplex with Ground-Floor
New
For Sale
$550,000
5518 CANAL Boulevard, New Orleans, LA 70124
Multifamily, New Orleans, LA
Property Size3,211 SF
Lot Size0.11 Acres
Price / SF$171.29
Days on Market6
Property Features for 5518 CANAL Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bathroom 1, Bathroom 4, Bathroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Bedroom 2, Bedroom 1, Bathroom 3
Parking
2
Lot features
Corner Lot
Directions
Canal Blvd towards City Park Avenue, home on the corner after across from PJ's Coffee
Standard status
Active
APN
206303004
Size
3,211 SF
Lot size
0.11 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Description
SQ A LOTS 10 11 CANAL BLVD & AYMORD CT 20 X 120 EACH 5518-20 CANAL BL
Legal Description
SQ A LOTS 10 11 CANAL BLVD & AYMORD CT 20 X 120 EACH 5518-20 CANAL BL
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
enclosed porch
open patio
carport
Building Details
Year built
1925
Number of units
2
Flooring type
Laminate, Wood, Tile
Building materials
Stucco
Architectural style
Craftsman
Buildings
1
Listing Agency:
Witry Collective, L.L.C.
(504) 291-2022
Listed By:
Katie A Witry · License #995710150
(504) 919-8585
Added: Oct 18
Changed: Oct 23
Last Checked: Oct 23 at 3:06PM
MLS# 2582147
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This Craftsman-style duplex on Canal Boulevard pairs a 2,301-square-foot main residence with a ground-floor apartment measuring 837 square feet. The main home has three independent bedrooms, two full baths, two half baths, and a grand room; an enclosed porch connects to an office or potential fourth bedroom. The apartment includes one bedroom and one bath. Total area under roof is 3,211 square feet. Original wood floors and windows are among the interior details, while a covered carport provides space for more than two vehicles and additional storage. An open patio extends the outdoor area.
The property is near City Park, Downtown, Bayou St. John, Canal Streetcar Line, and I-10 and I-610. PJ’s Coffee, Navarre Cafe, and Delgado are within walking distance. The corner lot measures 40 by 120 feet. Central heating and air conditioning, public water and sewer, and natural gas availability are also noted.
The property is near City Park, Downtown, Bayou St. John, Canal Streetcar Line, and I-10 and I-610. PJ’s Coffee, Navarre Cafe, and Delgado are within walking distance. The corner lot measures 40 by 120 feet. Central heating and air conditioning, public water and sewer, and natural gas availability are also noted.
Key Highlights
- 3,211 square feet under roof; 2,301‑square‑foot main house and 837‑square‑foot apartment
- Ground‑floor apartment has 1 bedroom and 1 bath
- Main residence has 3 independent bedrooms, 2 full baths, and 2 half baths; enclosed porch leads to office or fourth bedroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,659
Cap Rate
7.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$813,180
$813.2K
Cap Rate 7%
$580,843
$580.8K
Cap Rate 9%
$451,767
$451.8K
Market Conditions
NOI Build-Up for 3,211 SF
Gross rent
$63.6K $19.80/SF
− Vacancy
−$5.5K −$1.71/SF
EGI
$58.1K $18.09/SF
− OpEx
−$17.4K −$5.43/SF
NOI
$40.7K $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 Rate 5%
$813,180
Cap Rate 7%
$580,843
Cap Rate 9%
$451,767
Alternative Uses
Best Use
Multifamily LT 5
$580.8K
$508.2K – $677.7K
NOI $40,659 @ 7.0% cap · market cap 7.39%
Second Best
Apartment 5plus
$533.9K
$467.2K – $622.9K
NOI $37,372 @ 7.0% cap · market cap 6.79%
Theoretical Best
Office A
$816.1K
$714.1K – $952.2K
NOI $57,129 @ 7.0% cap · market cap 10.39%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
478
Businesses Nearby
Explore this area
Business Placement
Demographics for 70124, LA
22,777
Population
8,919
Households
2.6
Avg Household Size
37
Median Age
70%
College-Educated
98%
High-School Grad
6.7 sq mi
ZIP Area
3,400
Density / Sq Mi
$121,318
Median Household Income
$66,323
Median Earnings
$1,752
Median Rent
$577,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - A separate one-bedroom rental complements the larger residence, with covered off-street parking and an open patio.
Where is this duplex located?
The property is located at 5518 CANAL Boulevard New Orleans, LA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 3,211 square feet under roof; 2,301‑square‑foot main house and 837‑square‑foot apartment; Ground‑floor apartment has 1 bedroom and 1 bath; Main residence has 3 independent bedrooms, 2 full baths, and 2 half baths; enclosed porch leads to office or fourth bedroom
