Furnished
For Sale
$400,000
604 S Genois St, New Orleans, LA 70119
Each residence offers a two-bedroom, two-bath layout with furnished short-term rental operation permitted.
Property Size1,536 SF
Price / SF$260.42
Days on Market21
Property Features for 604 S Genois St
General Information
Standard status
Active
Size
1,536 SF
Property subtype
Investment
Zoning
MU-1
Additional Details
Furnished
Yes
Gross Income
$63,581
Listing Agency:
The McEnery Company Inc
(985) 317-4464
Listed By:
Louie LeBourgeois
(985) 317-4464
Source:
Lacdb.resimplifi
Added: Aug 12
Changed: Aug 31
Last Checked: Aug 31 at 12:51PM
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 Inc
Investment Insights
Based on property information with market context.
This duplex contains two separate residences, each arranged with 2 bedrooms, 2 bathrooms, and 768 SF. The property is furnished and includes linens, televisions, and related household contents. Short-term rental operation is fully permitted, while MU-1 zoning provides the stated land-use designation.
The building includes off-street parking and sits steps from the Tulane Avenue bike lane. Downtown New Orleans is approximately 1 mile away, placing the property near a major urban destination and bicycle connection.
With 1,536 SF across both units, the asset offers a clearly defined two-unit configuration suitable for continued short-term rental use.
The building includes off-street parking and sits steps from the Tulane Avenue bike lane. Downtown New Orleans is approximately 1 mile away, placing the property near a major urban destination and bicycle connection.
With 1,536 SF across both units, the asset offers a clearly defined two-unit configuration suitable for continued short-term rental use.
Key Highlights
- Two‑unit duplex with 1,536 SF total
- Each unit includes 2 bedrooms, 2 bathrooms, and 768 SF
- Fully permitted short‑term rental operation
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
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 - Each residence offers a two-bedroom, two-bath layout with furnished short-term rental operation permitted.
Where is this duplex located?
The property is located at 604 S Genois St 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 total; Each unit includes 2 bedrooms, 2 bathrooms, and 768 SF; Fully permitted short‑term rental operation
