6-Unit Apartment
New
For Sale
$735,000
8014 20 Panola St, New Orleans, LA 70118
Four one-bedroom units and two upstairs two-bedroom residences create a six-unit rental configuration.
Property Size3,980 SF
Lot Size0.12 Acres
Price / SF$184.67
Days on Market6
Property Features for 8014 20 Panola St
General Information
Standard status
Active
Size
3,980 SF
Lot size
0.12 Acres
Property subtype
Multi-Family
Units
Unit Mix
4 x 1BR/1BA, 2 x 2BR/1BA
Multifamily Units
6
Building Details
Year Built
1922
Listing Agency:
Bennette Dukes Realty LLC
(504) 321-1014
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Sep 22
Changed: Sep 26
Last Checked: Sep 26 at 6:46AM
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 Bennette Dukes Realty LLC
Investment Insights
Based on property information with market context.
This 1922 apartment property contains six units on a 35-by-150-foot lot, with a total building area of 3,980 square feet. The layout includes four one-bedroom, one-bath apartments and two upstairs units, each with two bedrooms and one bath. The upper apartments are arranged in a mirrored shotgun-style configuration. One unit has been taken down to the studs and received updated electrical and plumbing systems, along with ductless wall units.
The property is near Palmer Park, Robert's Fresh Market, Tulane and Loyola universities, hospitals, and the Oak Street and Maple Street corridor.
The property is near Palmer Park, Robert's Fresh Market, Tulane and Loyola universities, hospitals, and the Oak Street and Maple Street corridor.
Key Highlights
- Six apartments: four 1‑bedroom/1‑bath units and two upstairs 2‑bedroom/1‑bath units
- 3,980 square feet on a 35' x 150' lot
- Built in 1922
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
$46,323
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
6.30%
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%
$926,460
$926.5K
Cap Rate 7%
$661,757
$661.8K
Cap Rate 9%
$514,700
$514.7K
Market Conditions
NOI Build-Up for 3,980 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
$92.7K $23.28/SF
− Vacancy
−$8.4K −$2.12/SF
EGI
$84.2K $21.16/SF
− OpEx
−$37.9K −$9.52/SF
NOI
$46.3K $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%
$926,460
Cap Rate 7%
$661,757
Cap Rate 9%
$514,700
Alternative Uses
Best Use
Apartment 5plus
$661.8K
$579.0K – $772.1K
NOI $46,323 @ 7.0% cap · market cap 6.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$885.1K – $1.18M
NOI $70,811 @ 7.0% cap · market cap 9.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,112
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Four one-bedroom units and two upstairs two-bedroom residences create a six-unit rental configuration.
Where is this apartment building located?
The property is located at 8014 20 Panola St New Orleans, LA.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: Six apartments: four 1‑bedroom/1‑bath units and two upstairs 2‑bedroom/1‑bath units; 3,980 square feet on a 35' x 150' lot; Built in 1922
