Raised Shotgun
For Sale
$349,000
Pending
5961 COLBERT Street, New Orleans, LA 70124
Multifamily, New Orleans, LA
Property Size1,824 SF
Lot Size0.15 Acres
Days on Market22
Property Features for 5961 COLBERT Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 1
Parking features
Off Street
Patio and Porch features
Porch
Standard status
Pending
APN
206310703
Size
1,824 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Description
SQ 339 LOTS 6 7 COLBERT 25X129 EA
Legal Description
SQ 339 LOTS 6 7 COLBERT 25X129 EA
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
front porch
private fenced yard
garage
utility room
Building Details
Year built
1940
Number of units
2
Building materials
HardiPlank Type, Wood Siding
Architectural style
Shotgun
Buildings
1
Listing Agency:
REVE, REALTORS
(504) 300-0700
Listed By:
Gabriella M Francescon · License #995706223
(504) 909-4435
Added: Oct 2
Changed: Oct 23
Last Checked: Oct 23 at 4:06PM
MLS# 2579931
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 raised shotgun-style duplex in New Orleans contains two residences, each with two bedrooms and one bathroom. The 1,824-square-foot building dates to 1940 and received a roof replacement in 2021. Interior details include high ceilings, wood finishes, and kitchens with wood cabinetry. Central heating and air conditioning serve the property.
The 0.1481-acre parcel includes a front porch, separate driveways with off-street parking, fenced yards, a garage, and utility rooms. Public water and sewer are available, along with natural gas. The property is at 5961 Colbert Street in New Orleans, Louisiana.
The 0.1481-acre parcel includes a front porch, separate driveways with off-street parking, fenced yards, a garage, and utility rooms. Public water and sewer are available, along with natural gas. The property is at 5961 Colbert Street in New Orleans, Louisiana.
Key Highlights
- Two residences, each with 2 bedrooms and 1 bathroom
- 1,824 square feet on a 0.1481‑acre parcel
- Roof replaced in 2021
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,096
Cap Rate
6.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$461,920
$461.9K
Cap Rate 7%
$329,943
$329.9K
Cap Rate 9%
$256,622
$256.6K
Market Conditions
NOI Build-Up for 1,824 SF
Gross rent
$36.1K $19.80/SF
− Vacancy
−$3.1K −$1.71/SF
EGI
$33.0K $18.09/SF
− OpEx
−$9.9K −$5.43/SF
NOI
$23.1K $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%
$461,920
Cap Rate 7%
$329,943
Cap Rate 9%
$256,622
Alternative Uses
Best Use
Multifamily LT 5
$329.9K
$288.7K – $384.9K
NOI $23,096 @ 7.0% cap · market cap 6.62%
Second Best
Apartment 5plus
$303.3K
$265.4K – $353.8K
NOI $21,229 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$463.6K
$405.7K – $540.9K
NOI $32,452 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
774
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
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have dedicated driveways, fenced outdoor space, a garage, and utility rooms.
Where is this duplex located?
The property is located at 5961 COLBERT Street New Orleans, LA.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 bathroom; 1,824 square feet on a 0.1481‑acre parcel; Roof replaced in 2021
