Three-Unit Triplex with
For Sale
$799,000
5530 WILLOW Street, New Orleans, LA 70115
Multi-Family, Traditional, New Orleans, LA
Property Size3,800 SF
Lot Size0.11 Acres
Price / SF$210.26
Days on Market12
Property Features for 5530 WILLOW Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Parking features
Driveway
Exterior features
Fence
Fencing
Fenced
Lot features
Regular
Standard status
Active
APN
614335202
Size
3,800 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
SQ 650 LOT B WILLOW 40X120 S-RAISED-3 APTS
Legal Description
SQ 650 LOT B WILLOW 40X120 S-RAISED-3 APTS
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2025
Floors in Building
2
Number of units
3
Roof type
Shingle
Architectural style
Other
Listing Agency:
REVE, REALTORS
(504) 300-0700
Listed By:
Becky Ray Giroir · License #000015274
(504) 333-2645
Added: Sep 16
Last Checked: Sep 27 at 3:06PM
MLS# 2577551
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This three-unit multifamily property contains 3,800 square feet on a 0.1102-acre lot. Built in 2025, the building has central heating and central air, a shingle roof, public water service, and a fenced site with driveway parking. The property is currently fully leased.
Located in New Orleans near universities, the property offers a three-unit configuration in an established residential income setting. Its physical features include fencing, on-site driveway access, and separate central HVAC systems serving the building.
Located in New Orleans near universities, the property offers a three-unit configuration in an established residential income setting. Its physical features include fencing, on-site driveway access, and separate central HVAC systems serving the building.
Key Highlights
- Three‑unit multifamily property with 3,800 square feet
- Built in 2025 on a 0.1102‑acre lot
- Currently fully leased
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
$32,662
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
4.09%
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%
$653,240
$653.2K
Cap Rate 7%
$466,600
$466.6K
Cap Rate 9%
$362,911
$362.9K
Market Conditions
NOI Build-Up for 3,800 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
$51.1K $13.44/SF
− Vacancy
−$4.4K −$1.16/SF
EGI
$46.7K $12.28/SF
− OpEx
−$14.0K −$3.68/SF
NOI
$32.7K $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%
$653,240
Cap Rate 7%
$466,600
Cap Rate 9%
$362,911
Alternative Uses
Best Use
Multifamily LT 5
$466.6K
$408.3K – $544.4K
NOI $32,662 @ 7.0% cap · market cap 4.09%
Second Best
Apartment 5plus
$413.6K
$361.9K – $482.6K
NOI $28,953 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$1.00M
$877.2K – $1.17M
NOI $70,178 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,728
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Fully leased multifamily property with central HVAC, public water, and a fenced site near universities.
Where is this triplex located?
The property is located at 5530 WILLOW Street New Orleans, LA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Three‑unit multifamily property with 3,800 square feet; Built in 2025 on a 0.1102‑acre lot; Currently fully leased
