Double Shotgun Cottage With Renovation
For Sale
$339,900
720 Soraparu Street, New Orleans, LA 70130
Fully gutted double shotgun cottage with major foundation, plumbing, framing, and siding work already completed for renovation.
Days on Market8
Property Features for 720 Soraparu Street
General Information
Standard status
Active
Property subtype
Multi Family Home
Building Details
Building Size
1,582 SF
Year Built
1923
Listing Agency:
Nola Living Realty
(504) 428-6552
Listed By:
Feras Ayyad · License #995701308
(504) 428-6552
Source:
Nolalivingrealty
Added: Jul 24
Changed: Jul 30
Last Checked: Jul 30 at 10:03PM
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 Nola Living Realty
Investment Insights
Based on property information with market context.
This fully gutted double shotgun cottage (built in 1923) is ready for renovation after major work has already been completed. The property includes foundation work, new underground plumbing, new framing, new Hardie board siding, and fresh exterior paint. The roof is approximately 4 to 5 years old. Plans can support renovation into a single-family residence or an income-producing configuration.
Located at 720 Soraparu Street in New Orleans’ Irish Channel, the property is less than a mile to Magazine, St. Charles, and the streetcar. It is designated as X Flood Zone.
With the heavy construction tasks already addressed, this is a straightforward renovation opportunity for an investor or buyer looking to complete the transformation and reposition the home.
Located at 720 Soraparu Street in New Orleans’ Irish Channel, the property is less than a mile to Magazine, St. Charles, and the streetcar. It is designated as X Flood Zone.
With the heavy construction tasks already addressed, this is a straightforward renovation opportunity for an investor or buyer looking to complete the transformation and reposition the home.
Key Highlights
- Fully gutted double shotgun cottage with renovation work already started
- Foundation work completed with new underground plumbing
- New framing plus new Hardie board siding and fresh exterior paint
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $31.3k | $19.80 |
| − Vacancy | −$2.7k | −$1.71 |
| EGI | $28.6k | $18.09 |
| − OpEx | −$8.6k | −$5.43 |
| NOI | $20.0k | $12.66 |
1,582 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$286.2K
$250.4K – $333.9K
NOI $20,032 @ 7.0% cap · market cap 5.89%
Second Best
Apartment 5plus
$263.0K
$230.2K – $306.9K
NOI $18,413 @ 7.0% cap · market cap 5.42%
Theoretical Best
Office A
$402.1K
$351.8K – $469.1K
NOI $28,146 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,532
Businesses Nearby
Explore this area
Business Placement
Demographics for 70130, LA
14,521
Population
10,927
Households
1.3
Avg Household Size
38
Median Age
64%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
6,915
Density / Sq Mi
$82,758
Median Household Income
$52,492
Median Earnings
$1,410
Median Rent
$529,300
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 - Fully gutted double shotgun cottage with major foundation, plumbing, framing, and siding work already completed for renovation.
Where is this duplex located?
The property is located at 720 Soraparu Street New Orleans, LA.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: Fully gutted double shotgun cottage with renovation work already started; Foundation work completed with new underground plumbing; New framing plus new Hardie board siding and fresh exterior paint
