Well-Maintained Duplex with Private
For Sale
$429,000
Pending
5868 ORLEANS Avenue, New Orleans, LA 70124
MULTI_FAMILY - New Orleans, LA
Property Size1,800 SF
Days on Market49
Property Features for 5868 ORLEANS Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Off Street, Driveway
Patio and Porch features
Porch
Exterior features
Balcony, Fence, Porch
Fencing
Fenced
Subdivision
Lakeview
Lot features
Regular
Standard status
Pending
APN
5870-ORLEANSAV
Size
1,800 SF
Taxes and HOA fees
Tax Description
SQ 377 LOTS 45 46 ORLEANS 25 X 144 EA 5868-70 ORLEANS AVE
Legal Description
SQ 377 LOTS 45 46 ORLEANS 25 X 144 EA 5868-70 ORLEANS AVE
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
front porch
rear deck
balcony
fenced yard
private entrances
laundry area
Building Details
Year built
1939
Floors in Building
2
Number of units
2
Roof type
Asphalt, Shingle
Architectural style
Craftsman
Listing Agency:
Keller Williams Realty New Orleans
(504) 862-0100
Listed By:
Brittany Picolo · License #995687117
(504) 300-5179
Added: Jul 16
Changed: Aug 14
Last Checked: Sep 2 at 4:06PM
MLS# 2567643
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 well-maintained duplex offers two separate residences, each with two bedrooms and one full bathroom. The layout includes spacious living and dining areas with abundant natural light, wood flooring in the living spaces, neutral paint, crown molding, and large windows. Both units feature private entrances and a thoughtfully designed floor plan, including a kitchen and dedicated laundry area. The first-floor home includes a front porch and access to a spacious rear deck, while the second-floor home includes a front balcony and a similar overall layout. Exterior amenities include double front porches, a fully fenced front yard, an upper balcony, and a spacious rear deck.
The property is described as being in an X Flood Zone on high land, with lots of parking. It is located near City Park and Bayou St. John, and close to Canal Boulevard, Harrison Avenue, Metairie Road, shopping, restaurants, grocery stores, medical facilities, schools, and major commuter routes.
Each residence is configured for comfortable, long-term occupancy with practical storage and functional indoor-outdoor space.
The property is described as being in an X Flood Zone on high land, with lots of parking. It is located near City Park and Bayou St. John, and close to Canal Boulevard, Harrison Avenue, Metairie Road, shopping, restaurants, grocery stores, medical facilities, schools, and major commuter routes.
Each residence is configured for comfortable, long-term occupancy with practical storage and functional indoor-outdoor space.
Key Highlights
- Duplex built in 1939 with Craftsman architectural style
- Each unit has 2 bedrooms, 1 full bathroom, and approximately 900 SF living area
- Central heating and central air conditioning for year‑round comfort
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 2-bedroom, 1-bath units with private entrances and outdoor decks in a well-maintained duplex.
Where is this duplex located?
The property is located at 5868 ORLEANS Avenue 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 built in 1939 with Craftsman architectural style; Each unit has 2 bedrooms, 1 full bathroom, and approximately 900 SF living area; Central heating and central air conditioning for year‑round comfort
