Colonial Two-Unit
New
For Sale
$499,000
7030 VICKSBURG Street, New Orleans, LA 70124
Multi-Family, Colonial, New Orleans, LA
Property Size2,800 SF
Price / SF$178.21
Days on Market1
Property Features for 7030 VICKSBURG Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Carport, Covered
Subdivision
Lakeview
Lot features
Corner
Standard status
Active
APN
206412708
Size
2,800 SF
Taxes and HOA fees
Tax Description
SQ 47B PT LOT 5 VICKSBURG AND CONRAD 50X89
Legal Description
SQ 47B PT LOT 5 VICKSBURG AND CONRAD 50X89
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
washer/dryer
Building Details
Year built
1959
Floors in Building
2
Number of units
2
Roof type
Flat
Architectural style
Colonial
Listing Agency:
Riverside Realty, Inc.
(504) 737-8454
Listed By:
Kim Brandt
(504) 388-5461
Added: Sep 2
Last Checked: Sep 2 at 11:06PM
MLS# 2575035
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,800-square-foot Colonial duplex, built in 1959, has two separate residences within a brick, two-story structure. The downstairs unit measures 1,576 square feet and includes three bedrooms and two full bathrooms, while the 1,134-square-foot upstairs residence offers two bedrooms, one bathroom, and original wood flooring. Both units provide generous living areas and interior washer and dryer facilities.
The property occupies a corner lot at 7030 Vicksburg Street in New Orleans. Central heating and central air serve the building, with public water, a flat roof installed in 2023, and covered carport parking. The layout accommodates an owner-occupant arrangement with a second unit for rental use, as described in the property information.
The property occupies a corner lot at 7030 Vicksburg Street in New Orleans. Central heating and central air serve the building, with public water, a flat roof installed in 2023, and covered carport parking. The layout accommodates an owner-occupant arrangement with a second unit for rental use, as described in the property information.
Key Highlights
- 2,800‑square‑foot Colonial duplex on a corner lot
- Downstairs unit: 1,576 square feet, 3 bedrooms, and 2 full bathrooms
- Upstairs unit: 1,134 square feet, 2 bedrooms, and 1 bathroom
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
$35,455
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
7.11%
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%
$709,100
$709.1K
Cap Rate 7%
$506,500
$506.5K
Cap Rate 9%
$393,944
$393.9K
Market Conditions
NOI Build-Up for 2,800 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
$55.4K $19.80/SF
− Vacancy
−$4.8K −$1.71/SF
EGI
$50.6K $18.09/SF
− OpEx
−$15.2K −$5.43/SF
NOI
$35.5K $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%
$709,100
Cap Rate 7%
$506,500
Cap Rate 9%
$393,944
Alternative Uses
Best Use
Multifamily LT 5
$506.5K
$443.2K – $590.9K
NOI $35,455 @ 7.0% cap · market cap 7.11%
Second Best
Apartment 5plus
$465.6K
$407.4K – $543.2K
NOI $32,589 @ 7.0% cap · market cap 6.53%
Theoretical Best
Office A
$711.7K
$622.7K – $830.3K
NOI $49,817 @ 7.0% cap · market cap 9.98%
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
537
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 - Corner-lot property with separate living spaces, central climate control, covered parking, and in-unit washer and dryer.
Where is this duplex located?
The property is located at 7030 VICKSBURG Street New Orleans, LA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 2,800‑square‑foot Colonial duplex on a corner lot; Downstairs unit: 1,576 square feet, 3 bedrooms, and 2 full bathrooms; Upstairs unit: 1,134 square feet, 2 bedrooms, and 1 bathroom
