Two-Unit Duplex with
For Sale
$430,000
6514-16 Avenue A, New Orleans, LA 70124
Tenant-occupied multifamily property with central air, a balcony, and both garage and driveway parking.
Property Size2,450 SF
Price / SF$175.51
Days on Market282
Property Features for 6514-16 Avenue A
General Information
Standard status
Active
Size
2,450 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
Central Air
Central
1
4
Shake
2
Balcony
Slab: Traditional
Brick
Building Details
Year Built
1962
Listing Agency:
Keller Williams Realty New Orleans
Listed By:
Marcus Reine · License #995710048
(504) 615-7755
Source:
Compass
Added: Nov 25, 2025
Changed: Sep 2
Last Checked: Sep 2 at 12:05AM
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 Keller Williams Realty New Orleans
Investment Insights
Based on property information with market context.
This 2,450-square-foot duplex contains two separate 2-bedroom, 2-bath units. Each residence is equipped with central air, while the property also includes a balcony, brick and shake exterior elements, and a traditional slab foundation. Garage and driveway parking add on-site convenience for occupants.
Built in 1962, the property is located at 6514-16 Avenue A in New Orleans’ Lakeview area. Lake Pontchartrain and I-10 are both described as minutes away, providing access to nearby recreation and regional transportation routes. Both units are tenant occupied, supporting an established rental-use configuration for the next owner.
Built in 1962, the property is located at 6514-16 Avenue A in New Orleans’ Lakeview area. Lake Pontchartrain and I-10 are both described as minutes away, providing access to nearby recreation and regional transportation routes. Both units are tenant occupied, supporting an established rental-use configuration for the next owner.
Key Highlights
- Two 2‑bedroom, 2‑bath units within a 2,450‑square‑foot duplex
- Tenant‑occupied units provide an established rental‑use configuration
- Central air serving the property
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
$31,023
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
7.21%
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%
$620,460
$620.5K
Cap Rate 7%
$443,186
$443.2K
Cap Rate 9%
$344,700
$344.7K
Market Conditions
NOI Build-Up for 2,450 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
$48.5K $19.80/SF
− Vacancy
−$4.2K −$1.71/SF
EGI
$44.3K $18.09/SF
− OpEx
−$13.3K −$5.43/SF
NOI
$31.0K $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%
$620,460
Cap Rate 7%
$443,186
Cap Rate 9%
$344,700
Alternative Uses
Best Use
Multifamily LT 5
$443.2K
$387.8K – $517.1K
NOI $31,023 @ 7.0% cap · market cap 7.21%
Second Best
Apartment 5plus
$407.4K
$356.4K – $475.3K
NOI $28,515 @ 7.0% cap · market cap 6.63%
Theoretical Best
Office A
$622.7K
$544.9K – $726.5K
NOI $43,590 @ 7.0% cap · market cap 10.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
684
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 - Tenant-occupied multifamily property with central air, a balcony, and both garage and driveway parking.
Where is this duplex located?
The property is located at 6514-16 Avenue A New Orleans, LA.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: Two 2‑bedroom, 2‑bath units within a 2,450‑square‑foot duplex; Tenant‑occupied units provide an established rental‑use configuration; Central air serving the property
