Six-Bedroom
For Sale
Contact for pricing
7831 Mill Street, New Orleans, LA 70126
Brick-veneer construction and an attached carport complement the property's two-unit residential configuration.
Property Size2,689 SF
Lot Size0.16 Acres
Price / SF$9.30
Days on Market18
Property Features for 7831 Mill Street
General Information
Standard status
Active
Size
2,689 SF
Lot size
0.16 Acres
Property subtype
Residential Income
Site & Location
Neighborhood
Pines Village
Additional Details
Asking Price
$25,000
Multifamily Units
2
Amenities
carport
Building Details
Construction
brick-veneer
Listing Agency:
Gilmore Auction & Realty Co.
(504) 468-6800
Listed By:
David E Gilmore · License #000039316
(504) 228-6606
Source:
Exprealty
Added: Oct 12
Changed: Oct 29
Last Checked: Oct 28 at 5:32AM
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 Gilmore Auction & Realty Co.
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Investment Insights
Based on property information with market context.
This duplex contains 2,689 square feet, with six bedrooms and two bathrooms across its two residential units. Brick-veneer exterior construction and a carport are also part of the property.
The building sits on a 58-foot by 122-foot lot at 7831 Mill Street in New Orleans. Its two-unit layout and on-site covered vehicle space are key physical features.
The building sits on a 58-foot by 122-foot lot at 7831 Mill Street in New Orleans. Its two-unit layout and on-site covered vehicle space are key physical features.
Key Highlights
- Two‑unit residential property with 2,689 square feet
- Six bedrooms and two bathrooms
- 58‑foot by 122‑foot lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,177
Suggested Prices Based on Cap Rates
Cap Rate 5%
$423,540
$423.5K
Cap Rate 7%
$302,529
$302.5K
Cap Rate 9%
$235,300
$235.3K
Market Conditions
NOI Build-Up for 2,689 SF
Gross rent
$41.6K $15.48/SF
− Vacancy
−$3.1K −$1.16/SF
EGI
$38.5K $14.32/SF
− OpEx
−$17.3K −$6.44/SF
NOI
$21.2K $7.88/SF
Area
ZIP 70126
Vacancy
7.50%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$423,540
Cap Rate 7%
$302,529
Cap Rate 9%
$235,300
Alternative Uses
Best Use
Multifamily LT 5
$313.8K
$274.6K – $366.2K
NOI $21,969 @ 7.0% cap · market cap 87.88%
Second Best
Apartment 5plus
$302.5K
$264.7K – $353.0K
NOI $21,177 @ 7.0% cap · market cap 84.71%
Theoretical Best
Office A
$705.3K
$617.1K – $822.8K
NOI $49,370 @ 7.0% cap · market cap 197.48%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
383
Businesses Nearby
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Business Placement
Demographics for 70126, LA
30,397
Population
12,686
Households
2.4
Avg Household Size
33
Median Age
24%
College-Educated
87%
High-School Grad
12.1 sq mi
ZIP Area
2,512
Density / Sq Mi
$38,229
Median Household Income
$29,510
Median Earnings
$1,118
Median Rent
$187,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Brick-veneer construction and an attached carport complement the property's two-unit residential configuration.
Where is this duplex located?
The property is located at 7831 Mill Street New Orleans, LA.
What are key features of this property?
This property features: Two‑unit residential property with 2,689 square feet; Six bedrooms and two bathrooms; 58‑foot by 122‑foot lot
