Duplex with Two-Bedroom
For Sale
$330,000
Pending
6262-6264 Bellaire Drive, New Orleans, LA 70124
Two residential units offer dens, dinettes, laundry hookups, appliances, and off-street parking with covered carport access.
Property Size2,380 SF
Days on Market460
Property Features for 6262-6264 Bellaire Drive
General Information
Standard status
Pending
Size
2,380 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Amenities
Central Air
Central
1
2
4
inside hkups
Asphalt
Other
Slab: Traditional
Brick
Building Details
Year Built
1979
Listing Agency:
Homesmart Realty South
Listed By:
Maureen Matthews · License #000008926
(504) 610-6522
Source:
Compass
Added: Jun 2, 2025
Changed: Sep 3
Last Checked: Sep 2 at 11:23PM
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 Homesmart Realty South
Investment Insights
Based on property information with market context.
This 2,380-square-foot duplex, built in 1979, includes two residential units with matching layouts. Each unit has 2 bedrooms, 1 bath, a large den, dinette, laundry closets with full-sized hookups, and a stove and refrigerator. The property also provides a carport, driveway parking for 2 cars, a storage shed attached to the carport, and a second large shed at the end of the fenced backyard.
Unit 6262 has been remodeled, while 6264 includes painted paneling and laminate flooring in the kitchen, living room, and bedrooms. The roof was replaced in 2022, and the HVAC system was replaced in December 2022. Unit 6262 has had a tenant for over a year, and unit 6264 has been occupied for almost three years. Located in the Lakeview area near Fleur de Lis and W Harrison.
Unit 6262 has been remodeled, while 6264 includes painted paneling and laminate flooring in the kitchen, living room, and bedrooms. The roof was replaced in 2022, and the HVAC system was replaced in December 2022. Unit 6262 has had a tenant for over a year, and unit 6264 has been occupied for almost three years. Located in the Lakeview area near Fleur de Lis and W Harrison.
Key Highlights
- 2,380‑square‑foot duplex with two 2‑bedroom, 1‑bath units
- Roof replaced in 2022; HVAC replaced in December 2022
- Each unit includes a large den, dinette, and full‑sized laundry hookups
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
$30,137
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
9.13%
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%
$602,740
$602.7K
Cap Rate 7%
$430,529
$430.5K
Cap Rate 9%
$334,856
$334.9K
Market Conditions
NOI Build-Up for 2,380 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
$47.1K $19.80/SF
− Vacancy
−$4.1K −$1.71/SF
EGI
$43.1K $18.09/SF
− OpEx
−$12.9K −$5.43/SF
NOI
$30.1K $12.66/SF
Area
New Orleans, LA
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 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%
$602,740
Cap Rate 7%
$430,529
Cap Rate 9%
$334,856
Alternative Uses
Best Use
Multifamily LT 5
$430.5K
$376.7K – $502.3K
NOI $30,137 @ 7.0% cap · market cap 9.13%
Second Best
Apartment 5plus
$395.7K
$346.3K – $461.7K
NOI $27,700 @ 7.0% cap · market cap 8.39%
Theoretical Best
Office A
$604.9K
$529.3K – $705.7K
NOI $42,344 @ 7.0% cap · market cap 12.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,147
Businesses Nearby
Explore this area
Business Placement
Demographics for 70124, LA
22,777
Population
8,919
Households
2.6
Avg Household Size
37
Median Age
70%
College-Educated
98%
High-School Grad
6.7 sq mi
ZIP Area
3,400
Density / Sq Mi
$121,318
Median Household Income
$66,323
Median Earnings
$1,752
Median Rent
$577,800
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 residential units offer dens, dinettes, laundry hookups, appliances, and off-street parking with covered carport access.
Where is this duplex located?
The property is located at 6262-6264 Bellaire Drive New Orleans, LA.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: 2,380‑square‑foot duplex with two 2‑bedroom, 1‑bath units; Roof replaced in 2022; HVAC replaced in December 2022; Each unit includes a large den, dinette, and full‑sized laundry hookups
