Brick Duplex with Attached
For Sale
$475,000
6017 BELLAIRE Drive, New Orleans, LA 70124
Multi-Family, Traditional, New Orleans, LA
Property Size2,444 SF
Lot Size0.12 Acres
Price / SF$194.35
Days on Market58
Property Features for 6017 BELLAIRE Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Carport, Off Street
Exterior features
Fence
Fencing
Fenced
Lot features
Regular
Standard status
Active
APN
716503933
Size
2,444 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
METAIRIE PARK SUB DIV SQ 41 LOT A BELLAIRE 60 X 89 6017-19 BELLAIRE
Legal Description
METAIRIE PARK SUB DIV SQ 41 LOT A BELLAIRE 60 X 89 6017-19 BELLAIRE
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
in-unit laundry hookups
ceiling fans
separate entrances
attached carport/storage areas
off-street parking
Building Details
Year built
1978
Floors in Building
1
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
1 Percent Lists Legacy
(504) 499-0047
Listed By:
Richard Miley · License #995709617
(985) 265-2046
Added: Jun 26
Changed: Aug 20
Last Checked: Aug 22 at 11:06AM
MLS# 2564969
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 1978 brick duplex contains 2,444 square feet across two residences, each configured with 3 bedrooms, 2 full bathrooms, and a living and dining area. Both units include laundry hookups, kitchens with wood cabinetry, granite-style countertops, stainless appliances, gas cooking, tile or wood-look flooring, and ceiling fans. The property also provides separate entrances, attached carport and storage areas, off-street parking, fencing, a shingle roof, central heating, central air, and public water. A new roof was installed in 2022.
One side is currently occupied by a long-term tenant. The property is located in West Lakeview with access to Veterans Blvd, I-10, Downtown New Orleans, City Park, the lakefront, restaurants, shopping, and Lakeview and Metairie amenities.
One side is currently occupied by a long-term tenant. The property is located in West Lakeview with access to Veterans Blvd, I-10, Downtown New Orleans, City Park, the lakefront, restaurants, shopping, and Lakeview and Metairie amenities.
Key Highlights
- 2,444‑square‑foot duplex on 0.1226 acres
- Each unit has 3 bedrooms and 2 full bathrooms
- New roof installed in 2022
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
$30,947
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
6.52%
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%
$618,940
$618.9K
Cap Rate 7%
$442,100
$442.1K
Cap Rate 9%
$343,856
$343.9K
Market Conditions
NOI Build-Up for 2,444 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
$48.4K $19.80/SF
− Vacancy
−$4.2K −$1.71/SF
EGI
$44.2K $18.09/SF
− OpEx
−$13.3K −$5.43/SF
NOI
$30.9K $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%
$618,940
Cap Rate 7%
$442,100
Cap Rate 9%
$343,856
Alternative Uses
Best Use
Multifamily LT 5
$442.1K
$386.8K – $515.8K
NOI $30,947 @ 7.0% cap · market cap 6.52%
Second Best
Apartment 5plus
$406.4K
$355.6K – $474.1K
NOI $28,445 @ 7.0% cap · market cap 5.99%
Theoretical Best
Office A
$621.2K
$543.5K – $724.7K
NOI $43,483 @ 7.0% cap · market cap 9.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,119
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 well-maintained residences offer private entrances, updated kitchens, laundry hookups, and off-street parking.
Where is this duplex located?
The property is located at 6017 BELLAIRE Drive New Orleans, LA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 2,444‑square‑foot duplex on 0.1226 acres; Each unit has 3 bedrooms and 2 full bathrooms; New roof installed in 2022
