Raised Triplex with Fenced
For Sale
$449,000
7832 34 Plum St, New Orleans, LA 70118
Townhouse-style multifamily building with off-street parking, balcony, and utility services already connected.
Property Size3,311 SF
Price / SF$135.61
Days on Market27
Property Features for 7832 34 Plum St
General Information
Standard status
Active
Size
3,311 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
fair condition
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
3
Additional Details
Utilities to Site
Yes
Amenities
balcony
fenced yard
Building Details
Year Built
1908
Buildings
1
Construction
siding-construction
Listing Agency:
RE/MAX Synergy
(504) 914-0988
Listed By:
Jason Melancon, Jeffery Melancon
Source:
Fiorellaavenue
Added: Aug 6
Changed: Aug 31
Last Checked: Aug 31 at 6:37PM
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 Synergy
Investment Insights
Based on property information with market context.
This three-unit, townhouse-style property is a raised building with siding construction and a shingle roof. The configuration includes one approximately 1,633-square-foot unit with two bedrooms and one bathroom, plus two additional units of approximately 800 square feet each. A balcony, fenced yard, and off-street parking add usable exterior features. The property was built in 1908 and is being sold strictly as-is, where-is. Central heat and air, city sewer, public water, Entergy electric service, and natural gas service are identified for the property.
Key Highlights
- Three‑unit property with approximately 3,311 square feet
- Unit 1: approximately 1,633 sq ft with 2 bedrooms and 1 bath
- Units 2 and 3: approximately 800 sq ft each
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
$38,536
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
8.58%
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%
$770,720
$770.7K
Cap Rate 7%
$550,514
$550.5K
Cap Rate 9%
$428,178
$428.2K
Market Conditions
NOI Build-Up for 3,311 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
$77.1K $23.28/SF
− Vacancy
−$7.0K −$2.12/SF
EGI
$70.1K $21.16/SF
− OpEx
−$31.5K −$9.52/SF
NOI
$38.5K $11.64/SF
Area
New Orleans, LA
Vacancy
9.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$770,720
Cap Rate 7%
$550,514
Cap Rate 9%
$428,178
Alternative Uses
Best Use
Multifamily LT 5
$598.9K
$524.1K – $698.8K
NOI $41,926 @ 7.0% cap · market cap 9.34%
Second Best
Apartment 5plus
$550.5K
$481.7K – $642.3K
NOI $38,536 @ 7.0% cap · market cap 8.58%
Theoretical Best
Office A
$841.5K
$736.4K – $981.8K
NOI $58,908 @ 7.0% cap · market cap 13.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,561
Businesses Nearby
Explore this area
Business Placement
Demographics for 70118, LA
35,635
Population
15,464
Households
2.3
Avg Household Size
31
Median Age
54%
College-Educated
92%
High-School Grad
4.6 sq mi
ZIP Area
7,747
Density / Sq Mi
$62,665
Median Household Income
$28,199
Median Earnings
$1,257
Median Rent
$451,600
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?
Triplex - Townhouse-style multifamily building with off-street parking, balcony, and utility services already connected.
Where is this triplex located?
The property is located at 7832 34 Plum St New Orleans, LA.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Three‑unit property with approximately 3,311 square feet; Unit 1: approximately 1,633 sq ft with 2 bedrooms and 1 bath; Units 2 and 3: approximately 800 sq ft each
