Historic Duplex with Two
For Sale
$950,000
Pending
6112 Chestnut Street, New Orleans, LA 70118
Duplex features two separate units with updated kitchen, rear deck, and off-street parking including a garage.
Property Size2,519 SF
Days on Market82
Property Features for 6112 Chestnut Street
General Information
Standard status
Pending
Size
2,519 SF
Total Parking Spaces
2
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Additional Details
Multifamily Units
2
Amenities
Central Air, Wall Unit(s)
Central, Wall Furnace
1
3
4
In unit
Asphalt
Other
2
Balcony,
Slab: Traditional
Frame, Stucco
, Porch
Building Details
Year Built
1920
Stories
2
Listing Agency:
Compass
Listed By:
Samantha Bach · License #995710200
(504) 400-0205
Source:
Compass
Added: Jun 17
Changed: Sep 4
Last Checked: Aug 8 at 12:19PM
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 Compass
Investment Insights
Based on property information with market context.
Historic duplex offering two separate units, up and down, in a single residential income property with distinct access. The upper unit includes 2 bedrooms and 2 full bathrooms, with hardwood floors and an updated kitchen, plus a front porch swing and access to a spacious rear deck overlooking a landscaped backyard. The primary suite includes a new oversized walk-in closet.
The lower unit offers 2 bedrooms, 1 full bathroom, and an additional half bath. It has private access from the side of the home or through the backyard, and includes a mini-split system along with window units for the bedrooms. A screened-in back porch provides additional outdoor space.
Off-street parking is available for two cars, including one garage space and one tandem driveway space. The property also has potential to be converted into a single-family home.
The lower unit offers 2 bedrooms, 1 full bathroom, and an additional half bath. It has private access from the side of the home or through the backyard, and includes a mini-split system along with window units for the bedrooms. A screened-in back porch provides additional outdoor space.
Off-street parking is available for two cars, including one garage space and one tandem driveway space. The property also has potential to be converted into a single-family home.
Key Highlights
- Historic duplex built in 1920 with two separate units (up and down).
- Upper unit: 2 bedrooms, 2 full bathrooms, hardwood floors, abundant natural light, and an updated kitchen.
- Primary suite in the upper unit includes a new oversized walk‑in closet.
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
$31,897
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
3.36%
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%
$637,940
$637.9K
Cap Rate 7%
$455,671
$455.7K
Cap Rate 9%
$354,411
$354.4K
Market Conditions
NOI Build-Up for 2,519 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
$49.9K $19.80/SF
− Vacancy
−$4.3K −$1.71/SF
EGI
$45.6K $18.09/SF
− OpEx
−$13.7K −$5.43/SF
NOI
$31.9K $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%
$637,940
Cap Rate 7%
$455,671
Cap Rate 9%
$354,411
Alternative Uses
Best Use
Multifamily LT 5
$455.7K
$398.7K – $531.6K
NOI $31,897 @ 7.0% cap · market cap 3.36%
Second Best
Apartment 5plus
$418.8K
$366.5K – $488.6K
NOI $29,318 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$640.2K
$560.2K – $747.0K
NOI $44,817 @ 7.0% cap · market cap 4.72%
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
1,441
Businesses Nearby
Explore this area
Business Placement
Demographics for 70118, LA
35,635
Population
15,464
Households
2.3
Avg Household Size
31
Median Age
54%
College-Educated
92%
High-School Grad
4.6 sq mi
ZIP Area
7,747
Density / Sq Mi
$62,665
Median Household Income
$28,199
Median Earnings
$1,257
Median Rent
$451,600
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 - Duplex features two separate units with updated kitchen, rear deck, and off-street parking including a garage.
Where is this duplex located?
The property is located at 6112 Chestnut Street New Orleans, LA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Historic duplex built in 1920 with two separate units (up and down).; Upper unit: 2 bedrooms, 2 full bathrooms, hardwood floors, abundant natural light, and an updated kitchen.; Primary suite in the upper unit includes a new oversized walk‑in closet.
