Raised Duplex with Private
For Sale
$299,000
7935-37 Read Boulevard, New Orleans, LA 70127
Newer two-unit property with separate driveways, private outdoor space, and contemporary interior finishes.
Property Size2,360 SF
Price / SF$126.69
Days on Market267
Property Features for 7935-37 Read Boulevard
General Information
Standard status
Active
Size
2,360 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Additional Details
Multifamily Units
2
Amenities
separate driveways
private porches
Central Air
Central
1
4
5
Asphalt
Pillar/Post/Pier
HardiPlank Type
Porch
Building Details
Year Built
2023
Buildings
1
Construction
raised double
Listing Agency:
The Pellerin Group NOLA LLC
Listed By:
Nicole Pellerin · License #995704017
(504) 628-7723
Source:
Compass
Added: Dec 10, 2025
Changed: Sep 2
Last Checked: Sep 1 at 11:22PM
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 The Pellerin Group NOLA LLC
Investment Insights
Based on property information with market context.
Completed in 2023, this raised duplex contains 2,360 square feet across two residential units. Both sides offer carpet-free interiors, granite countertops, private bedrooms, and central air and heating. Separate driveways and individual porches give each unit its own dedicated access and outdoor area.
The property is located on Read Boulevard in New Orleans East. Its two-unit configuration supports several ownership approaches, including occupying one residence while leasing the other. HardiPlank siding, asphalt paving, and pillar/post/pier construction are among the documented exterior features.
The property is located on Read Boulevard in New Orleans East. Its two-unit configuration supports several ownership approaches, including occupying one residence while leasing the other. HardiPlank siding, asphalt paving, and pillar/post/pier construction are among the documented exterior features.
Key Highlights
- Built in 2023 with 2,360 square feet
- Two‑unit raised duplex configuration
- No‑carpet interiors with granite countertops
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
$27,468
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
9.19%
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%
$549,360
$549.4K
Cap Rate 7%
$392,400
$392.4K
Cap Rate 9%
$305,200
$305.2K
Market Conditions
NOI Build-Up for 2,360 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
$54.9K $23.28/SF
− Vacancy
−$5.0K −$2.12/SF
EGI
$49.9K $21.16/SF
− OpEx
−$22.5K −$9.52/SF
NOI
$27.5K $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%
$549,360
Cap Rate 7%
$392,400
Cap Rate 9%
$305,200
Alternative Uses
Best Use
Multifamily LT 5
$426.9K
$373.5K – $498.1K
NOI $29,883 @ 7.0% cap · market cap 9.99%
Second Best
Apartment 5plus
$392.4K
$343.4K – $457.8K
NOI $27,468 @ 7.0% cap · market cap 9.19%
Theoretical Best
Office A
$599.8K
$524.9K – $699.8K
NOI $41,988 @ 7.0% cap · market cap 14.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
285
Businesses Nearby
Explore this area
Business Placement
Demographics for 70127, LA
24,332
Population
10,719
Households
2.3
Avg Household Size
35
Median Age
25%
College-Educated
86%
High-School Grad
5.5 sq mi
ZIP Area
4,424
Density / Sq Mi
$41,548
Median Household Income
$30,817
Median Earnings
$1,060
Median Rent
$191,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Newer two-unit property with separate driveways, private outdoor space, and contemporary interior finishes.
Where is this duplex located?
The property is located at 7935-37 Read Boulevard New Orleans, LA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Built in 2023 with 2,360 square feet; Two‑unit raised duplex configuration; No‑carpet interiors with granite countertops
