New Construction
For Sale
$299,000
7935 37 Read Boulevard, New Orleans, LA 70127
Two independent units offer private outdoor space, separate driveways, and durable interior finishes.
Property Size2,360 SF
Price / SF$126.69
Days on Market13
Property Features for 7935 37 Read Boulevard
General Information
Standard status
Active
Size
2,360 SF
Property subtype
Multi-Family
Building Details
Year Built
2023
Listing Agency:
The Pellerin Group NOLA LLC
(504) 628-7723
Listed By:
Nicole Pellerin · License #995704017
Source:
Dominionplace
Added: Aug 20
Changed: Aug 29
Last Checked: Aug 30 at 9:02PM
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 duplex contains 2,360 square feet across two separate residential units. Each side includes private bedrooms, granite countertops, and flooring without carpet. The layout supports distinct living arrangements while maintaining the shared structure of a duplex.
Each unit has its own driveway and private porch, providing dedicated parking access and outdoor space. The property is located in New Orleans East at 7935 37 Read Boulevard, New Orleans, LA 70127.
Each unit has its own driveway and private porch, providing dedicated parking access and outdoor space. The property is located in New Orleans East at 7935 37 Read Boulevard, New Orleans, LA 70127.
Key Highlights
- Built in 2023 with 2,360 square feet across a duplex configuration
- Two units with private bedrooms and granite countertops
- No‑carpet flooring throughout the units
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
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two independent units offer private outdoor space, separate driveways, and durable 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 across a duplex configuration; Two units with private bedrooms and granite countertops; No‑carpet flooring throughout the units
