Renovation-Ready Shotgun
For Sale
$339,900
720 Soraparu St, New Orleans, LA 70130
Gutted duplex cottage with completed structural and exterior improvements, offering a defined path for residential redevelopment.
Property Size1,582 SF
Price / SF$214.85
Days on Market200
Property Features for 720 Soraparu St
General Information
Standard status
Active
Size
1,582 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
renovate
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Year Built
1923
Buildings
1
Construction
shotgun
Listing Agency:
NOLA Living Realty
Listed By:
Feras Ayyad · License #995701308
(504) 428-6552
Source:
Fiorellaavenue
Added: Apr 4
Changed: Oct 16
Last Checked: Oct 19 at 10:18AM
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
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Investment Insights
Based on property information with market context.
Built in 1923, this 1,582-square-foot duplex is configured as a double shotgun cottage and has been fully gutted for redevelopment. Completed work includes foundation repairs, underground plumbing, new framing, Hardie board siding, and exterior paint. The roof is approximately 4 to 5 years old, and the property also includes a porch with pillar/post/pier construction.
The property is in New Orleans’ Irish Channel, less than a mile from Magazine Street, St. Charles, and the streetcar. It is located in an X Flood Zone. The existing layout supports redevelopment as either a single-family residence or a two-unit property, subject to applicable requirements.
The property is in New Orleans’ Irish Channel, less than a mile from Magazine Street, St. Charles, and the streetcar. It is located in an X Flood Zone. The existing layout supports redevelopment as either a single-family residence or a two-unit property, subject to applicable requirements.
Key Highlights
- 1,582‑square‑foot duplex cottage built in 1923
- Double shotgun configuration with dual‑unit redevelopment potential
- Fully gutted interior ready for reconstruction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,032
Cap Rate
5.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$400,640
$400.6K
Cap Rate 7%
$286,171
$286.2K
Cap Rate 9%
$222,578
$222.6K
Market Conditions
NOI Build-Up for 1,582 SF
Gross rent
$31.3K $19.80/SF
− Vacancy
−$2.7K −$1.71/SF
EGI
$28.6K $18.09/SF
− OpEx
−$8.6K −$5.43/SF
NOI
$20.0K $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 Rate 5%
$400,640
Cap Rate 7%
$286,171
Cap Rate 9%
$222,578
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.
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Lease Details
2
Residential units
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Gutted duplex cottage with completed structural and exterior improvements, offering a defined path for residential redevelopment.
Where is this duplex located?
The property is located at 720 Soraparu St 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: 1,582‑square‑foot duplex cottage built in 1923; Double shotgun configuration with dual‑unit redevelopment potential; Fully gutted interior ready for reconstruction
