Ranch-Style Residential Income
New
For Sale
$220,000
701 Gordon St, New Orleans, LA 70117
Window units, natural gas, and off-street driveway parking are among the dwelling’s documented features.
Property Size1,438 SF
Price / SF$152.99
Days on Market4
Property Features for 701 Gordon St
General Information
Standard status
Active
Size
1,438 SF
Property subtype
Multi-Family
Building Details
Year Built
1977
Listing Agency:
Realtors- Loescher Properties
(504) 281-2232
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Oct 19
Changed: Oct 21
Last Checked: Oct 20 at 8:06PM
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 Realtors- Loescher Properties
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Investment Insights
Based on property information with market context.
This ranch-style residential income property contains 1,438 square feet and was built in 1977. Window units and natural gas serve the dwelling, with off-street driveway parking on the exterior.
The property is at the corner of Gordon and Royal streets in New Orleans.
The property is at the corner of Gordon and Royal streets in New Orleans.
Key Highlights
- 1,438‑square‑foot ranch‑style dwelling
- Built in 1977
- Window units and natural gas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,737
Cap Rate
7.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$334,740
$334.7K
Cap Rate 7%
$239,100
$239.1K
Cap Rate 9%
$185,967
$186.0K
Market Conditions
NOI Build-Up for 1,438 SF
Gross rent
$33.5K $23.28/SF
− Vacancy
−$3.0K −$2.12/SF
EGI
$30.4K $21.16/SF
− OpEx
−$13.7K −$9.52/SF
NOI
$16.7K $11.64/SF
Area
New Orleans, LA
Vacancy
9.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$334,740
Cap Rate 7%
$239,100
Cap Rate 9%
$185,967
Alternative Uses
Best Use
Apartment 5plus
$239.1K
$209.2K – $279.0K
NOI $16,737 @ 7.0% cap · market cap 7.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$365.5K
$319.8K – $426.4K
NOI $25,584 @ 7.0% cap · market cap 11.63%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
374
Businesses Nearby
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Business Placement
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Window units, natural gas, and off-street driveway parking are among the dwelling’s documented features.
Where is this residential income property located?
The property is located at 701 Gordon St New Orleans, LA.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: 1,438‑square‑foot ranch‑style dwelling; Built in 1977; Window units and natural gas
