Duplex with Two-Bedroom Front
For Sale
$249,000
70 72 Phillip Ct, Chalmette, LA 70043
Two units provide a mix of two- and three-bedroom layouts.
Property Size2,000 SF
Price / SF$124.50
Days on Market28
Property Features for 70 72 Phillip Ct
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
1987
Listing Agency:
Continental Realty, LLC
Listed By:
Sie Jabr · License #000076698
(504) 237-7134
Source:
Dominionplace
Added: Aug 14
Changed: Aug 30
Last Checked: Sep 9 at 9:06PM
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 Continental Realty, LLC
Investment Insights
Based on property information with market context.
This 2,000-square-foot duplex, built in 1987, contains two separate residential units with distinct bedroom and bathroom configurations. The front unit includes two bedrooms and one bathroom, while the rear unit offers three bedrooms and two bathrooms. The property has long-term tenants and is identified as being in Flood Zone X.
Key Highlights
- 2,000‑square‑foot duplex built in 1987
- Front unit has 2 bedrooms and 1 bathroom
- Rear unit includes 3 bedrooms and 2 bathrooms
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
$21,948
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
8.81%
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%
$438,960
$439.0K
Cap Rate 7%
$313,543
$313.5K
Cap Rate 9%
$243,867
$243.9K
Market Conditions
NOI Build-Up for 2,000 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
$34.3K $17.16/SF
− Vacancy
−$3.0K −$1.48/SF
EGI
$31.4K $15.68/SF
− OpEx
−$9.4K −$4.70/SF
NOI
$21.9K $10.97/SF
Area
St. Bernard County, LA
Vacancy
8.64%
Lease Rate
$17.16 /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%
$438,960
Cap Rate 7%
$313,543
Cap Rate 9%
$243,867
Alternative Uses
Best Use
Multifamily LT 5
$313.5K
$274.4K – $365.8K
NOI $21,948 @ 7.0% cap · market cap 8.81%
Second Best
Apartment 5plus
$293.1K
$256.5K – $342.0K
NOI $20,518 @ 7.0% cap · market cap 8.24%
Theoretical Best
Office A
$527.7K
$461.7K – $615.6K
NOI $36,936 @ 7.0% cap · market cap 14.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
563
Businesses Nearby
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Business Placement
Demographics for 70043, LA
21,596
Population
8,782
Households
2.5
Avg Household Size
34
Median Age
15%
College-Educated
83%
High-School Grad
9.1 sq mi
ZIP Area
2,373
Density / Sq Mi
$57,065
Median Household Income
$37,969
Median Earnings
$1,091
Median Rent
$203,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two units provide a mix of two- and three-bedroom layouts.
Where is this duplex located?
The property is located at 70 72 Phillip Ct Chalmette, LA.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: 2,000‑square‑foot duplex built in 1987; Front unit has 2 bedrooms and 1 bathroom; Rear unit includes 3 bedrooms and 2 bathrooms
