Two-Unit Multifamily
729-31 Fern Street New Orleans, LA 70118
729-31 Fern Street, New Orleans, LA, 70118
$650,000
Pending
For Sale
$650,000
Pending
Duplex with separate off-street parking, in-unit washer/dryer, and private outdoor space for both units.
Property Size2,652 SF
Days on Market186
Property Features for 729-31 Fern Street
General Information
- Standard status
- Pending
- Size
- 2,652 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1931
Listing agency
RE/MAX N.O. Properties
(504) 931-0095
Listed by
Lauren Richmond · License #995685101
(504) 931-0095
Source
Compass
Added: Jan 18 Updated: Jul 22 at 5:15PM Checked: Jul 22 at 5:15PM
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 RE/MAX N.O. Properties
Investment Insights
Based on property information with market context.
This for-sale duplex offers two separate residential units, each with off-street parking, in-unit washer and dryer, and outdoor space. The downstairs unit was fully renovated in 2021 and features solid oak hardwood floors, granite countertops, custom cabinetry, updated HVAC, and a Jack and Jill bathroom layout. The upper unit is in good condition and includes a private balcony.
The property is described as being just off Maple St with convenient streetcar access on St Charles Ave and S Carrollton Ave, within a mixed-use neighborhood.
Both units are currently occupied with established tenancy, and separate utilities are noted. The current leases expire on June 30, and the property is zoned HU-B1, allowing for a variety of residential and commercial uses.
The property is described as being just off Maple St with convenient streetcar access on St Charles Ave and S Carrollton Ave, within a mixed-use neighborhood.
Both units are currently occupied with established tenancy, and separate utilities are noted. The current leases expire on June 30, and the property is zoned HU-B1, allowing for a variety of residential and commercial uses.
Key Highlights
- Duplex built in 1931 with 2 units and 4 total bedrooms, 2 full bathrooms
- Each unit includes off‑street parking and in‑unit washer and dryer
- Downstairs unit renovated in 2021 with solid oak hardwood floors, granite countertops, custom cabinetry, updated HVAC, and Jack‑and‑Jill bathroom layout
Local 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 | $52.5k | $19.80 |
| − Vacancy | −$4.5k | −$1.71 |
| EGI | $48.0k | $18.09 |
| − OpEx | −$14.4k | −$5.43 |
| NOI | $33.6k | $12.66 |
2,652 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$479.7K
$419.8K – $559.7K
NOI $33,581 @ 7.0% cap · market cap 5.17%
Second Best
Apartment 5plus
$440.9K
$385.8K – $514.4K
NOI $30,866 @ 7.0% cap · market cap 4.75%
Theoretical Best
Office A
$674.1K
$589.8K – $786.4K
NOI $47,184 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Duplex with separate off-street parking, in-unit washer/dryer, and private outdoor space for both units.
Where is this duplex located?
The property is located at 729-31 Fern Street New Orleans, LA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Duplex built in 1931 with 2 units and 4 total bedrooms, 2 full bathrooms; Each unit includes off‑street parking and in‑unit washer and dryer; Downstairs unit renovated in 2021 with solid oak hardwood floors, granite countertops, custom cabinetry, updated HVAC, and Jack‑and‑Jill bathroom layout
