Craftsman Duplex with Front
For Sale
$375,000
608 N ST PATRICK, New Orleans, LA 70119
MULTI_FAMILY - New Orleans, LA
Property Size2,850 SF
Lot Size0.09 Acres
Price / SF$131.58
Days on Market73
Property Features for 608 N ST PATRICK
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Off Street
Exterior features
Fence
Fencing
Fenced
Lot features
Regular
Standard status
Active
APN
207211508
Size
2,850 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Description
Square 603 Lot 8 N St Patrick 31x120'
Legal Description
Square 603 Lot 8 N St Patrick 31x120'
Utilities
Cooling system
Window Unit(s)
Water source
Public
Amenities
front porches
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Architectural style
Craftsman
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
(504) 455-0100
Listed By:
Diane Ragan
(504) 400-3884
Added: Jun 1
Changed: Aug 3
Last Checked: Aug 12 at 3:06PM
MLS# 2557138
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 Craftsman-style duplex features two separate sides, each with front porches. The layout on both sides includes two bedrooms, one and a half bathrooms, a living room, dining room, kitchen, and a rear laundry. The property has high ceilings and wood floors, with fireplaces noted as inoperable. Cooling is provided by window units, along with floor furnaces. The home is offered as-is and needs interior and exterior updates on both sides.
The roof is approximately 5 years old. The lot is fenced and measures 31x120'. Each side shares a common water meter, while gas and electric are on separate meters. Off-street parking is available.
Zoned HU-RD2, the property is located in Mid-City near City Park and the Endymion parade route and is approximately two blocks away from City Park and the parade route.
The roof is approximately 5 years old. The lot is fenced and measures 31x120'. Each side shares a common water meter, while gas and electric are on separate meters. Off-street parking is available.
Zoned HU-RD2, the property is located in Mid-City near City Park and the Endymion parade route and is approximately two blocks away from City Park and the parade route.
Key Highlights
- Each side has front porches and matches the same core layout: two bedrooms, one and a half baths, living room, dining room, kitchen, rear laundry
- Roof is approximately 5 years old; offered as‑is with no repairs, warranties, or guarantees
- Lot is fenced and measures 31x120' with off‑street parking
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
$33,171
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
8.85%
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%
$663,420
$663.4K
Cap Rate 7%
$473,871
$473.9K
Cap Rate 9%
$368,567
$368.6K
Market Conditions
NOI Build-Up for 2,850 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
$66.3K $23.28/SF
− Vacancy
−$6.0K −$2.12/SF
EGI
$60.3K $21.16/SF
− OpEx
−$27.1K −$9.52/SF
NOI
$33.2K $11.64/SF
Area
ZIP 70119
Vacancy
9.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$663,420
Cap Rate 7%
$473,871
Cap Rate 9%
$368,567
Alternative Uses
Best Use
Multifamily LT 5
$515.5K
$451.1K – $601.5K
NOI $36,088 @ 7.0% cap · market cap 9.62%
Second Best
Apartment 5plus
$473.9K
$414.6K – $552.9K
NOI $33,171 @ 7.0% cap · market cap 8.85%
Theoretical Best
Office A
$745.8K
$652.5K – $870.1K
NOI $52,203 @ 7.0% cap · market cap 13.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,417
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 - Craftsman double with front porches, fenced lot, off-street parking, and window-unit cooling on separate gas and electric meters.
Where is this duplex located?
The property is located at 608 N ST PATRICK New Orleans, LA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Each side has front porches and matches the same core layout: two bedrooms, one and a half baths, living room, dining room, kitchen, rear laundry; Roof is approximately 5 years old; offered as‑is with no repairs, warranties, or guarantees; Lot is fenced and measures 31x120' with off‑street parking
