Two-Unit Duplex with Private
New
For Sale
$429,000
5909 General Haig St, New Orleans, LA 70124
Both residences offer two bedrooms, one bath, in-unit laundry, and separate utility metering.
Property Size2,232 SF
Price / SF$192.20
Days on Market3
Property Features for 5909 General Haig St
General Information
Standard status
Active
Size
2,232 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
in-unit laundry
individual utility meters
covered front porch
open porch
fruit bearing trees
private grounds
Building Details
Year Built
1960
Listing Agency:
Riverside Realty, Inc.
(985) 307-1208
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Sep 8
Changed: Sep 9
Last Checked: Sep 10 at 6:19AM
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 Riverside Realty, Inc.
Investment Insights
Based on property information with market context.
Built in 1960, this 2,232-square-foot duplex contains two separate residences, each with two bedrooms and one bathroom. Both units feature open-concept kitchen and living areas, wood and tile flooring, dedicated in-unit laundry, individual utility meters, and abundant natural light. The lower apartment has a covered front porch, while the upper residence includes an open porch overlooking the surrounding neighborhood.
The property sits on a fully enclosed lot with fruit-bearing trees and private outdoor grounds. Its New Orleans location provides access to restaurants, coffee shops, stores, and banks. The combination of two-bedroom layouts, separate utilities, and distinct exterior spaces supports both owner-occupancy and rental use.
The property sits on a fully enclosed lot with fruit-bearing trees and private outdoor grounds. Its New Orleans location provides access to restaurants, coffee shops, stores, and banks. The combination of two-bedroom layouts, separate utilities, and distinct exterior spaces supports both owner-occupancy and rental use.
Key Highlights
- 2,232‑square‑foot duplex built in 1960
- Two separate apartments, each with 2 bedrooms and 1 bathroom
- Individual utility meters and dedicated laundry in both units
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
$28,263
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
6.59%
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%
$565,260
$565.3K
Cap Rate 7%
$403,757
$403.8K
Cap Rate 9%
$314,033
$314.0K
Market Conditions
NOI Build-Up for 2,232 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
$44.2K $19.80/SF
− Vacancy
−$3.8K −$1.71/SF
EGI
$40.4K $18.09/SF
− OpEx
−$12.1K −$5.43/SF
NOI
$28.3K $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%
$565,260
Cap Rate 7%
$403,757
Cap Rate 9%
$314,033
Alternative Uses
Best Use
Multifamily LT 5
$403.8K
$353.3K – $471.1K
NOI $28,263 @ 7.0% cap · market cap 6.59%
Second Best
Apartment 5plus
$371.1K
$324.7K – $433.0K
NOI $25,978 @ 7.0% cap · market cap 6.06%
Theoretical Best
Office A
$567.3K
$496.4K – $661.9K
NOI $39,711 @ 7.0% cap · market cap 9.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer two bedrooms, one bath, in-unit laundry, and separate utility metering.
Where is this duplex located?
The property is located at 5909 General Haig St 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: 2,232‑square‑foot duplex built in 1960; Two separate apartments, each with 2 bedrooms and 1 bathroom; Individual utility meters and dedicated laundry in both units
