Two-Unit Duplex with Open
For Sale
$489,900
6620 Canal Boulevard, New Orleans, LA 70124
Separate residences provide open-concept living areas, central heating and air conditioning, and flexible multigenerational use.
Property Size3,228 SF
Price / SF$151.77
Days on Market666
Property Features for 6620 Canal Boulevard
General Information
Standard status
Active
Size
3,228 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 4BR/2.5BA
Multifamily Units
2
Amenities
Central Air
Central
2
3
7
Screens
in unit
5
Other
Slab: Traditional
Brick, Other
Building Details
Year Built
1992
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
Listed By:
Al Sidhom · License #995690524
(504) 319-7428
Source:
Compass
Added: Nov 6, 2024
Changed: Aug 31
Last Checked: Aug 30 at 1:15AM
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 455-0100
Investment Insights
Based on property information with market context.
This 3,228-square-foot duplex contains two separate living units. The first includes three bedrooms, one and a half bathrooms, and an open-concept living area. The second offers four bedrooms, two and a half bathrooms, an open living space, and an additional den or home office. Both units have central air conditioning and heating, with systems updated in 2006. The property was built in 1992 and features a traditional slab foundation with brick and other exterior materials.
Located at 6620 Canal Boulevard in New Orleans, the duplex sits just off Canal Boulevard and near the shops and restaurants along Harrison Avenue. The configuration supports separate household living within one property and includes layouts suited to multigenerational occupancy.
Located at 6620 Canal Boulevard in New Orleans, the duplex sits just off Canal Boulevard and near the shops and restaurants along Harrison Avenue. The configuration supports separate household living within one property and includes layouts suited to multigenerational occupancy.
Key Highlights
- Two‑unit duplex totaling 3,228 square feet
- First unit has 3 bedrooms and 1.5 bathrooms
- Second unit includes 4 bedrooms, 2.5 bathrooms, and a den or home office
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
$40,875
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
8.34%
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%
$817,500
$817.5K
Cap Rate 7%
$583,929
$583.9K
Cap Rate 9%
$454,167
$454.2K
Market Conditions
NOI Build-Up for 3,228 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
$63.9K $19.80/SF
− Vacancy
−$5.5K −$1.71/SF
EGI
$58.4K $18.09/SF
− OpEx
−$17.5K −$5.43/SF
NOI
$40.9K $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%
$817,500
Cap Rate 7%
$583,929
Cap Rate 9%
$454,167
Alternative Uses
Best Use
Multifamily LT 5
$583.9K
$510.9K – $681.3K
NOI $40,875 @ 7.0% cap · market cap 8.34%
Second Best
Apartment 5plus
$536.7K
$469.6K – $626.2K
NOI $37,570 @ 7.0% cap · market cap 7.67%
Theoretical Best
Office A
$820.5K
$717.9K – $957.2K
NOI $57,432 @ 7.0% cap · market cap 11.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
566
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 - Separate residences provide open-concept living areas, central heating and air conditioning, and flexible multigenerational use.
Where is this duplex located?
The property is located at 6620 Canal Boulevard New Orleans, LA.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: Two‑unit duplex totaling 3,228 square feet; First unit has 3 bedrooms and 1.5 bathrooms; Second unit includes 4 bedrooms, 2.5 bathrooms, and a den or home office
