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 Market62
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
Listed By:
Nicole Pellerin · License #995704017
(504) 628-7723
Source:
Dominionplace
Added: Aug 20
Changed: Oct 4
Last Checked: Oct 7 at 2:14PM
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
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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 / Yr
$27,468
Cap Rate
9.19%
Suggested Prices Based on Cap Rates
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
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 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.
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Location Intelligence
Trade Area within ½ mile
285
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
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
