Renovated Furnished
For Sale
$1,800,000
7101-7015 Maple Street, New Orleans, LA 70118
Three fully leased residences offer furnished accommodations, private outdoor areas, assigned parking, and 12-month lease terms.
Property Size4,110 SF
Price / SF$437.96
Days on Market139
Property Features for 7101-7015 Maple Street
General Information
Standard status
Active
Size
4,110 SF
Total Parking Spaces
4
Property subtype
Investment
Zoning
HU-RD2
Occupancy
100%
Additional Details
Furnished
Yes
Cap Rate
5%
Multifamily Units
3
Amenities
assigned parking
outdoor space
mature landscaping
4 Parking Spaces
Building Details
Year Built
1970
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeServices Preferred, REALTORS
(504) 945-5522
Listed By:
Blake Rose · License #995706121
(504) 945-5522
Source:
Lacdb.resimplifi
Added: Apr 15
Changed: Aug 29
Last Checked: Aug 30 at 1:07PM
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 Berkshire Hathaway HomeServices Preferred, REALTORS
Investment Insights
Based on property information with market context.
This three-unit residential income property contains 4,110 square feet and was built in 1970. Renovation work was completed last year, and the building is offered furnished. All residences are leased under 12-month agreements, with outdoor areas serving each unit; the end units provide especially substantial exterior space. Assigned parking and mature landscaping are also included. The property is zoned HU-RD2 and is located in Flood Zone X, with an assumable flood policy noted in the property information.
The asset sits near the Freret Street corridor and the core of Tulane University's campus, placing the property in close proximity to both destinations. The indicated investment metric is a 5% cap rate.
The asset sits near the Freret Street corridor and the core of Tulane University's campus, placing the property in close proximity to both destinations. The indicated investment metric is a 5% cap rate.
Key Highlights
- Three‑unit property with 4,110 square feet
- Renovated last year and offered fully furnished
- 100% leased with 12‑month terms for all 3 units
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
$52,043
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
2.89%
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%
$1,040,860
$1.0M
Cap Rate 7%
$743,471
$743.5K
Cap Rate 9%
$578,256
$578.3K
Market Conditions
NOI Build-Up for 4,110 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
$81.4K $19.80/SF
− Vacancy
−$7.0K −$1.71/SF
EGI
$74.3K $18.09/SF
− OpEx
−$22.3K −$5.43/SF
NOI
$52.0K $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%
$1,040,860
Cap Rate 7%
$743,471
Cap Rate 9%
$578,256
Alternative Uses
Best Use
Multifamily LT 5
$743.5K
$650.5K – $867.4K
NOI $52,043 @ 7.0% cap · market cap 2.89%
Second Best
Apartment 5plus
$683.4K
$598.0K – $797.3K
NOI $47,836 @ 7.0% cap · market cap 2.66%
Theoretical Best
Office A
$1.04M
$914.1K – $1.22M
NOI $73,124 @ 7.0% cap · market cap 4.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,353
Businesses Nearby
Explore this area
Business Placement
Demographics for 70118, LA
35,635
Population
15,464
Households
2.3
Avg Household Size
31
Median Age
54%
College-Educated
92%
High-School Grad
4.6 sq mi
ZIP Area
7,747
Density / Sq Mi
$62,665
Median Household Income
$28,199
Median Earnings
$1,257
Median Rent
$451,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three fully leased residences offer furnished accommodations, private outdoor areas, assigned parking, and 12-month lease terms.
Where is this triplex located?
The property is located at 7101-7015 Maple Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Three‑unit property with 4,110 square feet; Renovated last year and offered fully furnished; 100% leased with 12‑month terms for all 3 units
