Two-Unit Duplex with
For Sale
$429,000
Pending
5868 70 Orleans Ave, New Orleans, LA 70124
Two residences offer private entries, outdoor spaces, and layouts suited to occupancy or leasing.
Property Size1,800 SF
Days on Market48
Property Features for 5868 70 Orleans Ave
General Information
Standard status
Pending
Size
1,800 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
front porch
rear deck
front balcony
double front porches
fully fenced front yard
upper balcony
Building Details
Year Built
1939
Buildings
1
Listing Agency:
Nola Living Realty
(504) 301-9757
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Jul 18
Changed: Aug 31
Last Checked: Aug 30 at 4:37PM
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 Nola Living Realty
Investment Insights
Based on property information with market context.
This 1,800-square-foot duplex, built in 1939, contains two residences with approximately 900 living square feet per unit. Each offers 2 bedrooms, 1 full bathroom, living and dining areas, private access, and practical storage. Interior features include wood flooring in living spaces, crown molding, large windows, neutral finishes, and functional kitchens. One residence includes stainless steel appliances.
Outdoor features include double front porches, an upper balcony, a rear deck, and a fenced front yard. Separate entrances provide added privacy, while on-site parking supports both residences. The property is identified as being in an X Flood Zone and on high land. It is located near City Park, Bayou St. John, Canal Boulevard, Harrison Avenue, Metairie Road, shopping, restaurants, grocery stores, medical facilities, schools, and major commuter routes.
Outdoor features include double front porches, an upper balcony, a rear deck, and a fenced front yard. Separate entrances provide added privacy, while on-site parking supports both residences. The property is identified as being in an X Flood Zone and on high land. It is located near City Park, Bayou St. John, Canal Boulevard, Harrison Avenue, Metairie Road, shopping, restaurants, grocery stores, medical facilities, schools, and major commuter routes.
Key Highlights
- Duplex with 2 residences, each offering 2 bedrooms and 1 full bathroom
- Approximately 900 living square feet per unit; 1,800 square feet total
- Built in 1939 and identified as being in an X Flood Zone
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
$22,792
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
5.31%
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%
$455,840
$455.8K
Cap Rate 7%
$325,600
$325.6K
Cap Rate 9%
$253,244
$253.2K
Market Conditions
NOI Build-Up for 1,800 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
$35.6K $19.80/SF
− Vacancy
−$3.1K −$1.71/SF
EGI
$32.6K $18.09/SF
− OpEx
−$9.8K −$5.43/SF
NOI
$22.8K $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%
$455,840
Cap Rate 7%
$325,600
Cap Rate 9%
$253,244
Alternative Uses
Best Use
Multifamily LT 5
$325.6K
$284.9K – $379.9K
NOI $22,792 @ 7.0% cap · market cap 5.31%
Second Best
Apartment 5plus
$299.3K
$261.9K – $349.2K
NOI $20,950 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$457.5K
$400.3K – $533.8K
NOI $32,025 @ 7.0% cap · market cap 7.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
495
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
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 - Two residences offer private entries, outdoor spaces, and layouts suited to occupancy or leasing.
Where is this duplex located?
The property is located at 5868 70 Orleans Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Duplex with 2 residences, each offering 2 bedrooms and 1 full bathroom; Approximately 900 living square feet per unit; 1,800 square feet total; Built in 1939 and identified as being in an X Flood Zone
