Newly Built
For Sale
$469,000
622 S PIERCE Street, New Orleans, LA 70119
Multifamily, New Orleans, LA
Property Size2,430 SF
Price / SF$193
Days on Market58
Property Features for 622 S PIERCE Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 6, Bathroom 1, Bathroom 4, Bedroom 5, Bathroom 3, Bedroom 4, Bedroom 3, Bathroom 5, Bathroom 2, Bedroom 1, Bathroom 6, Bedroom 2
Standard status
Active
APN
105303715
Size
2,430 SF
Taxes and HOA fees
Tax Description
SQ 750 LOT 24 S PIERCE 24' 7" X 123' 11"
Legal Description
SQ 750 LOT 24 S PIERCE 24' 7" X 123' 11"
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
in unit washer and dryer hookups
Building Details
Year built
2023
Number of units
2
Flooring type
Wood, Laminate
Building materials
Vinyl Siding
Buildings
1
Listing Agency:
Christian Shane Properties
(504) 208-5688
Listed By:
Christian S Galvin · License #995718884
(504) 252-0455
Added: Aug 27
Changed: Oct 23
Last Checked: Oct 23 at 3:06PM
MLS# 2570452
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Completed in 2023, this 2,430-square-foot duplex contains two residences, each with three bedrooms and three full bathrooms. Open-concept layouts are finished with laminate and wood flooring, quartz countertops, and stainless steel appliances. Washer and dryer hookups are provided in each unit. The building has vinyl siding, central heating, and central air conditioning.
The property is in New Orleans, five blocks from the Canal Streetcar line. Its X Flood Zone designation is also noted.
The property is in New Orleans, five blocks from the Canal Streetcar line. Its X Flood Zone designation is also noted.
Key Highlights
- Two units, each with 3 bedrooms and 3 full bathrooms
- 2,430 square feet of building area
- Built in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,770
Cap Rate
6.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$615,400
$615.4K
Cap Rate 7%
$439,571
$439.6K
Cap Rate 9%
$341,889
$341.9K
Market Conditions
NOI Build-Up for 2,430 SF
Gross rent
$48.1K $19.80/SF
− Vacancy
−$4.2K −$1.71/SF
EGI
$44.0K $18.09/SF
− OpEx
−$13.2K −$5.43/SF
NOI
$30.8K $12.66/SF
Area
ZIP 70119
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 Rate 5%
$615,400
Cap Rate 7%
$439,571
Cap Rate 9%
$341,889
Alternative Uses
Best Use
Multifamily LT 5
$439.6K
$384.6K – $512.8K
NOI $30,770 @ 7.0% cap · market cap 6.56%
Second Best
Apartment 5plus
$404.0K
$353.5K – $471.4K
NOI $28,282 @ 7.0% cap · market cap 6.03%
Theoretical Best
Office A
$635.9K
$556.4K – $741.8K
NOI $44,510 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,911
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom residences feature open layouts, central heating and air, and hookups for in-unit laundry.
Where is this duplex located?
The property is located at 622 S PIERCE Street New Orleans, LA.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: Two units, each with 3 bedrooms and 3 full bathrooms; 2,430 square feet of building area; Built in 2023
