Brick Multifamily
For Sale
$325,547
6205-07 Wainwright Dr, New Orleans, LA 70122
Brick construction with wood floors, a fenced yard, patio, and a comfortable residential layout.
Property Size2,377 SF
Price / SF$136.96
Days on Market63
Property Features for 6205-07 Wainwright Dr
General Information
Standard status
Active
Size
2,377 SF
Property subtype
Multi-Family
Amenities
ceiling fans
large windows
wood floors
tiled counters and backsplash
white appliances
concrete patio
fencing
exterior stairs
Building Details
Year Built
1950
Construction
brick
Listing Agency:
Nola Living Realty
(504) 301-9757
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Aug 19
Changed: Oct 19
Last Checked: Oct 19 at 6:24AM
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 Nola Living Realty
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Investment Insights
Based on property information with market context.
Built in 1950, this 2,377-square-foot multifamily property combines brick construction with an established residential setting. Wood flooring extends through the living areas and bedrooms, while large windows provide natural light and ceiling fans support everyday comfort. The living and dining areas connect as a shared gathering space.
The kitchen includes wood cabinetry, tiled counters and backsplash, ample storage, and white appliances. The bathroom features tile flooring and a tiled tub and shower surround with a decorative accent. Exterior amenities include a grassy yard with fencing along much of the perimeter, a concrete patio, and exterior stairs. The property is located at 6205-07 Wainwright Dr in New Orleans, Louisiana 70122.
The kitchen includes wood cabinetry, tiled counters and backsplash, ample storage, and white appliances. The bathroom features tile flooring and a tiled tub and shower surround with a decorative accent. Exterior amenities include a grassy yard with fencing along much of the perimeter, a concrete patio, and exterior stairs. The property is located at 6205-07 Wainwright Dr in New Orleans, Louisiana 70122.
Key Highlights
- 2,377‑square‑foot multifamily property built in 1950
- Brick exterior with wood flooring throughout living areas and bedrooms
- Kitchen includes wood cabinetry, tiled counters, backsplash, and white appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,391
Cap Rate
6.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$427,820
$427.8K
Cap Rate 7%
$305,586
$305.6K
Cap Rate 9%
$237,678
$237.7K
Market Conditions
NOI Build-Up for 2,377 SF
Gross rent
$42.8K $18.00/SF
− Vacancy
−$3.9K −$1.64/SF
EGI
$38.9K $16.36/SF
− OpEx
−$17.5K −$7.36/SF
NOI
$21.4K $9.00/SF
Area
ZIP 70122
Vacancy
9.10%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$427,820
Cap Rate 7%
$305,586
Cap Rate 9%
$237,678
Alternative Uses
Best Use
Apartment 5plus
$305.6K
$267.4K – $356.5K
NOI $21,391 @ 7.0% cap · market cap 6.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$622.0K
$544.2K – $725.7K
NOI $43,539 @ 7.0% cap · market cap 13.37%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
444
Businesses Nearby
Explore this area
Business Placement
Demographics for 70122, LA
34,986
Population
17,131
Households
2
Avg Household Size
39
Median Age
37%
College-Educated
89%
High-School Grad
6.3 sq mi
ZIP Area
5,553
Density / Sq Mi
$47,613
Median Household Income
$38,248
Median Earnings
$1,196
Median Rent
$274,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Brick construction with wood floors, a fenced yard, patio, and a comfortable residential layout.
Where is this multifamily property located?
The property is located at 6205-07 Wainwright Dr New Orleans, LA.
What is the asking price?
The asking price for this property is $325,547.
What are key features of this property?
This property features: 2,377‑square‑foot multifamily property built in 1950; Brick exterior with wood flooring throughout living areas and bedrooms; Kitchen includes wood cabinetry, tiled counters, backsplash, and white appliances
