Brick Duplex with Fenced
New
For Sale
$350,000
6205-07 WAINWRIGHT Drive, New Orleans, LA 70122
Multi-Family, Colonial, New Orleans, LA
Property Size2,377 SF
Lot Size0.13 Acres
Price / SF$147.24
Days on Market6
Property Features for 6205-07 WAINWRIGHT Drive
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
37W509714
Size
2,377 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Description
PARCEL F NORTH SHORE SUB DIV SQ 4 LOT 14 WAINWRIGHT 51X108 6205-07 WAINWRIGHT DR DBLE 2/STORY B/RV 9/RM C/R
Legal Description
PARCEL F NORTH SHORE SUB DIV SQ 4 LOT 14 WAINWRIGHT 51X108 6205-07 WAINWRIGHT DR DBLE 2/STORY B/RV 9/RM C/R
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
ceiling fans
concrete patio
fencing
Building Details
Year built
1950
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Colonial
Listing Agency:
Keller Williams Realty Services
(985) 727-7000
Listed By:
Louis Williams · License #000073679
(985) 237-0712
Added: Aug 17
Changed: Aug 19
Last Checked: Aug 22 at 6:06AM
MLS# 2572373
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 Colonial-style duplex, built in 1950, combines a brick exterior with wood flooring in the living areas and bedrooms. Large windows provide natural light, while ceiling fans supplement the central heating and central air systems. The interior includes connected living and dining areas, a kitchen with wood cabinetry, tiled counters and backsplash, white appliances, and a bathroom finished with tile flooring and a tiled tub and shower surround.
The property occupies 0.1264 acres and includes a grassy yard with fencing along much of the perimeter, a concrete patio, and exterior stairs. Off-street parking is provided, with public water service and a shingle roof. Located at 6205-07 WAINWRIGHT Drive in New Orleans, the property is identified by ZIP Code 70122.
The property occupies 0.1264 acres and includes a grassy yard with fencing along much of the perimeter, a concrete patio, and exterior stairs. Off-street parking is provided, with public water service and a shingle roof. Located at 6205-07 WAINWRIGHT Drive in New Orleans, the property is identified by ZIP Code 70122.
Key Highlights
- 2,377 square feet on 0.1264 acres
- Brick Colonial‑style duplex built in 1950
- Wood flooring in living areas and bedrooms
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
$24,626
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
7.04%
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%
$492,520
$492.5K
Cap Rate 7%
$351,800
$351.8K
Cap Rate 9%
$273,622
$273.6K
Market Conditions
NOI Build-Up for 2,377 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
$38.5K $16.20/SF
− Vacancy
−$3.3K −$1.40/SF
EGI
$35.2K $14.80/SF
− OpEx
−$10.6K −$4.44/SF
NOI
$24.6K $10.36/SF
Area
ZIP 70122
Vacancy
8.64%
Lease Rate
$16.20 /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%
$492,520
Cap Rate 7%
$351,800
Cap Rate 9%
$273,622
Alternative Uses
Best Use
Multifamily LT 5
$351.8K
$307.8K – $410.4K
NOI $24,626 @ 7.0% cap · market cap 7.04%
Second Best
Apartment 5plus
$305.6K
$267.4K – $356.5K
NOI $21,391 @ 7.0% cap · market cap 6.11%
Theoretical Best
Office A
$622.0K
$544.2K – $725.7K
NOI $43,539 @ 7.0% cap · market cap 12.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Colonial-style duplex with wood flooring, central HVAC, off-street parking, and a private outdoor area.
Where is this duplex located?
The property is located at 6205-07 WAINWRIGHT Drive New Orleans, LA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 2,377 square feet on 0.1264 acres; Brick Colonial‑style duplex built in 1950; Wood flooring in living areas and bedrooms
