Tenant-Occupied Duplex with Separate
New
For Sale
$214,900
6230-6232 Eads St, New Orleans, LA 70122
Two separately metered residences offer central air, off-street parking, and washer/dryer connections.
Property Size1,655 SF
Price / SF$129.85
Days on Market2
Property Features for 6230-6232 Eads St
General Information
Standard status
Active
Size
1,655 SF
Property subtype
Multi-Family
Occupancy
100%
Property Condition
Severity
Repairs Needed
Evidence
ready for value added cosmetic updates
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Amenities
central air
off-street parking
washer/dryer connections
Building Details
Year Built
1970
Tenancy
Multi
Listing Agency:
Riverside Realty, Inc.
(985) 307-1208
Listed By:
April Brown
(504) 606-0466
Source:
Hospitalityrealty
Added: Sep 9
Last Checked: Sep 9 at 5:23AM
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 Riverside Realty, Inc.
Investment Insights
Based on property information with market context.
This New Orleans duplex contains two independent residences: one with two bedrooms and one bathroom, and another with three bedrooms and one bathroom. Both units are currently tenant occupied and have separate utility meters. Central air serves each residence, while off-street parking and washer/dryer connections add practical functionality. The roof was replaced in 2022, and the property was built in 1970.
Unit 6230 has received recent updates and includes kitchen appliances, a washer, and a dryer. Unit 6232 is positioned for cosmetic improvements. The property is near the University of New Orleans, Southern University New Orleans, Dillard University, restaurants, shopping, and interstate access. Located at 6230–6232 Eads Street, the duplex offers two distinct living spaces within one property.
Unit 6230 has received recent updates and includes kitchen appliances, a washer, and a dryer. Unit 6232 is positioned for cosmetic improvements. The property is near the University of New Orleans, Southern University New Orleans, Dillard University, restaurants, shopping, and interstate access. Located at 6230–6232 Eads Street, the duplex offers two distinct living spaces within one property.
Key Highlights
- Two residences: a 2‑bedroom/1‑bath unit and a 3‑bedroom/1‑bath unit
- Separate utility meters serve each unit
- Both units are currently tenant occupied
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
$17,146
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
7.98%
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%
$342,920
$342.9K
Cap Rate 7%
$244,943
$244.9K
Cap Rate 9%
$190,511
$190.5K
Market Conditions
NOI Build-Up for 1,655 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
$26.8K $16.20/SF
− Vacancy
−$2.3K −$1.40/SF
EGI
$24.5K $14.80/SF
− OpEx
−$7.3K −$4.44/SF
NOI
$17.1K $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%
$342,920
Cap Rate 7%
$244,943
Cap Rate 9%
$190,511
Alternative Uses
Best Use
Multifamily LT 5
$244.9K
$214.3K – $285.8K
NOI $17,146 @ 7.0% cap · market cap 7.98%
Second Best
Apartment 5plus
$212.8K
$186.2K – $248.2K
NOI $14,894 @ 7.0% cap · market cap 6.93%
Theoretical Best
Office A
$433.1K
$378.9K – $505.2K
NOI $30,314 @ 7.0% cap · market cap 14.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
380
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 - Two separately metered residences offer central air, off-street parking, and washer/dryer connections.
Where is this duplex located?
The property is located at 6230-6232 Eads St New Orleans, LA.
What is the asking price?
The asking price for this property is $214,900.
What are key features of this property?
This property features: Two residences: a 2‑bedroom/1‑bath unit and a 3‑bedroom/1‑bath unit; Separate utility meters serve each unit; Both units are currently tenant occupied
