Duplex with Covered
For Sale
$525,000
6885 87 Catina St, New Orleans, LA 70124
Both units include open living and dining areas, separate entrances and meters, and laundry hookups.
Property Size2,240 SF
Price / SF$234.38
Days on Market10
Property Features for 6885 87 Catina St
General Information
Standard status
Active
Size
2,240 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
large covered deck
two sheds
laundry hookups
Building Details
Year Built
1952
Listing Agency:
Bennette Dukes Realty LLC
(504) 321-1014
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Sep 18
Changed: Sep 26
Last Checked: Sep 26 at 6:47AM
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 Bennette Dukes Realty LLC
Investment Insights
Based on property information with market context.
This 2,240-square-foot duplex, built in 1952, provides two separately entered units with individual meters, open living and dining areas, and laundry hookups. The upper residence adds a covered deck, while the property also includes a three-car carport and two storage sheds. A sizable yard provides additional outdoor space for gardening, gatherings, or general use.
Located at 6885 87 Catina St in New Orleans’ Lakeview area, the property sits along an oak-lined street. The two-unit layout supports an owner-occupant arrangement with a separate residence available for rental income.
Located at 6885 87 Catina St in New Orleans’ Lakeview area, the property sits along an oak-lined street. The two-unit layout supports an owner-occupant arrangement with a separate residence available for rental income.
Key Highlights
- 2,240‑square‑foot duplex built in 1952
- Separate entrances and meters for both units
- Upper unit includes a large covered deck
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
$28,364
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
5.40%
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%
$567,280
$567.3K
Cap Rate 7%
$405,200
$405.2K
Cap Rate 9%
$315,156
$315.2K
Market Conditions
NOI Build-Up for 2,240 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
$44.4K $19.80/SF
− Vacancy
−$3.8K −$1.71/SF
EGI
$40.5K $18.09/SF
− OpEx
−$12.2K −$5.43/SF
NOI
$28.4K $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%
$567,280
Cap Rate 7%
$405,200
Cap Rate 9%
$315,156
Alternative Uses
Best Use
Multifamily LT 5
$405.2K
$354.6K – $472.7K
NOI $28,364 @ 7.0% cap · market cap 5.40%
Second Best
Apartment 5plus
$372.4K
$325.9K – $434.5K
NOI $26,071 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$569.3K
$498.2K – $664.2K
NOI $39,853 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
652
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 - Both units include open living and dining areas, separate entrances and meters, and laundry hookups.
Where is this duplex located?
The property is located at 6885 87 Catina St New Orleans, LA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 2,240‑square‑foot duplex built in 1952; Separate entrances and meters for both units; Upper unit includes a large covered deck
