Furnished Two-Unit
For Sale
Contact for pricing
604-606 S Genois Street, New Orleans, LA 70119
Fully permitted short-term rental property with central HVAC, updated systems, and furnished interiors.
Property Size1,536 SF
Price / SF$260.42
Days on Market12
Property Features for 604-606 S Genois Street
General Information
Standard status
Active
Size
1,536 SF
Property subtype
Multifamily
Zoning
MU-1
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Additional Details
Furnished
Yes
Amenities
central HVAC
hardwood floors
granite counter tops
new appliances
updated plumbing/electrical
wood patio
Building Details
Units
2
Tenancy
Multi
Listing Agency:
The McEnery Company
Listed By:
Louis LeBourgeois IV · License #SALE.995700438-ACT
Source:
Crexi
Added: Aug 12
Changed: Aug 21
Last Checked: Aug 22 at 1:28PM
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 The McEnery Company
Investment Insights
Based on property information with market context.
The duplex at 604-606 S. Genois Street contains two furnished units, each offering 2 bedrooms, 2 bathrooms, and 768 SF. Combined building area is 1,536 SF. Interior features include central HVAC, hardwood floors, granite countertops, new appliances, and updated plumbing and electrical systems. Furnishings include linens, televisions, and additional household contents. A wood patio serves the rear yard.
The property carries MU-1 zoning and is fully permitted for short-term rental use. It is located steps from the Tulane Avenue bike lane and approximately 1 mile from Downtown New Orleans. Both units are configured for residential occupancy within the same duplex structure.
The property carries MU-1 zoning and is fully permitted for short-term rental use. It is located steps from the Tulane Avenue bike lane and approximately 1 mile from Downtown New Orleans. Both units are configured for residential occupancy within the same duplex structure.
Key Highlights
- Two‑unit duplex with 1,536 SF combined building area
- Each unit includes 2 bedrooms, 2 bathrooms, and 768 SF
- MU‑1 zoning with fully permitted short‑term rental use
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
$19,450
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
4.86%
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%
$389,000
$389.0K
Cap Rate 7%
$277,857
$277.9K
Cap Rate 9%
$216,111
$216.1K
Market Conditions
NOI Build-Up for 1,536 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
$30.4K $19.80/SF
− Vacancy
−$2.6K −$1.71/SF
EGI
$27.8K $18.09/SF
− OpEx
−$8.3K −$5.43/SF
NOI
$19.4K $12.66/SF
Area
ZIP 70119
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%
$389,000
Cap Rate 7%
$277,857
Cap Rate 9%
$216,111
Alternative Uses
Best Use
Multifamily LT 5
$277.9K
$243.1K – $324.2K
NOI $19,450 @ 7.0% cap · market cap 4.86%
Second Best
Apartment 5plus
$255.4K
$223.5K – $298.0K
NOI $17,877 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$401.9K
$351.7K – $468.9K
NOI $28,135 @ 7.0% cap · market cap 7.03%
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
1,830
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
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 - Fully permitted short-term rental property with central HVAC, updated systems, and furnished interiors.
Where is this duplex located?
The property is located at 604-606 S Genois Street New Orleans, LA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,536 SF combined building area; Each unit includes 2 bedrooms, 2 bathrooms, and 768 SF; MU‑1 zoning with fully permitted short‑term rental use
