Brick Duplex with Fenced
For Sale
$325,547
6205-07 WAINWRIGHT Drive, New Orleans, LA 70122
Multi-Family, Colonial, New Orleans, LA
Property Size2,377 SF
Lot Size0.13 Acres
Price / SF$136.96
Days on Market50
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
white appliances
grassy yard
fencing
concrete patio
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 #73679
(985) 237-0712
Added: Aug 17
Changed: Sep 29
Last Checked: Oct 5 at 12:06PM
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, offers 2,377 square feet of interior space with a brick exterior and a practical residential layout. Wood flooring extends through the living areas and bedrooms, while large windows provide natural light and ceiling fans supplement the central heating and cooling systems. The kitchen includes wood cabinetry, tiled counters and backsplash, ample storage, and white appliances. Tile flooring and a tiled tub and shower surround serve the bathroom.
The property occupies 0.1264 acres in New Orleans and includes a grassy yard with fencing along much of the perimeter. A concrete patio and exterior stairs add usable outdoor features, while off-street parking supports day-to-day convenience. Public water service, a shingle roof, and central air are also present.
The property occupies 0.1264 acres in New Orleans and includes a grassy yard with fencing along much of the perimeter. A concrete patio and exterior stairs add usable outdoor features, while off-street parking supports day-to-day convenience. Public water service, a shingle roof, and central air are also present.
Key Highlights
- 2,377 square feet of property space
- 0.1264‑acre lot in New Orleans
- Built in 1950 with Colonial architectural style
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
7.56%
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 7.56%
Second Best
Apartment 5plus
$305.6K
$267.4K – $356.5K
NOI $21,391 @ 7.0% cap · market cap 6.57%
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.
Property Analytics
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Open Analytics
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
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Cap Rate, Value Estimation, Potential NOI and more
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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 central HVAC, off-street parking, and a fenced 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 $325,547.
What are key features of this property?
This property features: 2,377 square feet of property space; 0.1264‑acre lot in New Orleans; Built in 1950 with Colonial architectural style
