Two-Unit Duplex with
For Sale
$299,000
Pending
715 ELIZA Street, New Orleans, LA 70114
Multi-Family, Traditional, New Orleans, LA
Property Size1,288 SF
Lot Size0.03 Acres
Days on Market112
Property Features for 715 ELIZA Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Off Street
Exterior features
Fence
Fencing
Fenced
Lot features
Regular
Subdivision
Algiers Point
Standard status
Pending
APN
513109525
Size
1,288 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Description
SQ 95 RR PT 25 OR 25-A 48 X 32 715 ELIZA
Legal Description
SQ 95 RR PT 25 OR 25-A 48 X 32 715 ELIZA
Utilities
Heating system
Central
Cooling system
Central Air, Window Unit(s)
Water source
Public
Amenities
front porch
private courtyard
washer/dryer hookups
Building Details
Year built
1925
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
REVE, REALTORS
(504) 300-0700
Listed By:
Joey Walker · License #995699523
(504) 300-0700
Added: May 4
Changed: Aug 19
Last Checked: Aug 23 at 5:06PM
MLS# 2556243
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.
Built in 1925, this 1,288-square-foot duplex occupies a 0.0348-acre lot and is arranged as two residential units. Each level includes 1 bedroom and 1 bathroom, with separate kitchen and bathroom facilities plus washer and dryer hookups. The upper unit features wood flooring, high ceilings, vintage kitchen and bath elements, and central HVAC. The lower level has tile flooring, an updated kitchen and bathroom, and window units for heating and cooling. A shingle roof and fenced exterior complete the property.
Outdoor features include a front porch and private side courtyard, with off-street parking identified among the property features. The home is located in Algiers Point, near neighborhood cafes, levee walking paths, and the ferry connection to the French Quarter. Public water service is provided.
Outdoor features include a front porch and private side courtyard, with off-street parking identified among the property features. The home is located in Algiers Point, near neighborhood cafes, levee walking paths, and the ferry connection to the French Quarter. Public water service is provided.
Key Highlights
- Two‑unit duplex with 1 bedroom and 1 bathroom on each level
- 1,288 square feet on a 0.0348‑acre lot
- Upper level includes wood floors, high ceilings, vintage finishes, and central HVAC
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
$16,309
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
5.45%
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%
$326,180
$326.2K
Cap Rate 7%
$232,986
$233.0K
Cap Rate 9%
$181,211
$181.2K
Market Conditions
NOI Build-Up for 1,288 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
$25.5K $19.80/SF
− Vacancy
−$2.2K −$1.71/SF
EGI
$23.3K $18.09/SF
− OpEx
−$7.0K −$5.43/SF
NOI
$16.3K $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%
$326,180
Cap Rate 7%
$232,986
Cap Rate 9%
$181,211
Alternative Uses
Best Use
Multifamily LT 5
$233.0K
$203.9K – $271.8K
NOI $16,309 @ 7.0% cap · market cap 5.45%
Second Best
Apartment 5plus
$214.2K
$187.4K – $249.9K
NOI $14,991 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$327.4K
$286.5K – $381.9K
NOI $22,916 @ 7.0% cap · market cap 7.66%
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
409
Businesses Nearby
Explore this area
Business Placement
Demographics for 70114, LA
23,127
Population
11,860
Households
2
Avg Household Size
38
Median Age
26%
College-Educated
86%
High-School Grad
5.1 sq mi
ZIP Area
4,535
Density / Sq Mi
$41,435
Median Household Income
$31,743
Median Earnings
$1,113
Median Rent
$194,100
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 - Separate residential levels offer individual kitchens, bathrooms, laundry hookups, and distinct heating and cooling systems.
Where is this duplex located?
The property is located at 715 ELIZA Street New Orleans, LA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two‑unit duplex with 1 bedroom and 1 bathroom on each level; 1,288 square feet on a 0.0348‑acre lot; Upper level includes wood floors, high ceilings, vintage finishes, and central HVAC
