Furnished Two-Sided Multifamily
For Sale
$539,900
813 Jackson Ave, New Orleans, LA 70130
Furnished income property near Magazine Street with flexible short-, mid-, and long-term rental potential.
Property Size2,110 SF
Price / SF$255.88
Days on Market46
Property Features for 813 Jackson Ave
General Information
Standard status
Active
Size
2,110 SF
Property subtype
Multi-Family
Additional Details
Furnished
Yes
Listing Agency:
Homecoin.com
(888) 400-2513
Listed By:
Jonathan Minerick · License #0225248917
Source:
Smithsquared
Added: Jul 18
Changed: Aug 30
Last Checked: Aug 31 at 6:34PM
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 Homecoin.com
Investment Insights
Based on property information with market context.
This 2,110-square-foot multifamily property is configured as a two-sided residence and conveys fully furnished. Its turnkey setup supports short-term, mid-term, or long-term rental use, and the property is currently generating income.
Located in New Orleans’ Lower Garden District, the residence is within walking distance of Magazine Street and three doors from Turkey and the Wolf. Street parking is described as plentiful, and the property sits along the route of the annual St. Patrick’s Day Parade. Uber access connects the property with Audubon Park, the French Quarter, Frenchmen Street, and City Park.
Located in New Orleans’ Lower Garden District, the residence is within walking distance of Magazine Street and three doors from Turkey and the Wolf. Street parking is described as plentiful, and the property sits along the route of the annual St. Patrick’s Day Parade. Uber access connects the property with Audubon Park, the French Quarter, Frenchmen Street, and City Park.
Key Highlights
- 2,110‑square‑foot two‑sided multifamily property
- Fully furnished and turnkey
- Short‑term, mid‑term, or long‑term rental potential
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
$24,558
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
4.55%
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%
$491,160
$491.2K
Cap Rate 7%
$350,829
$350.8K
Cap Rate 9%
$272,867
$272.9K
Market Conditions
NOI Build-Up for 2,110 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
$49.1K $23.28/SF
− Vacancy
−$4.5K −$2.12/SF
EGI
$44.7K $21.16/SF
− OpEx
−$20.1K −$9.52/SF
NOI
$24.6K $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%
$491,160
Cap Rate 7%
$350,829
Cap Rate 9%
$272,867
Alternative Uses
Best Use
Apartment 5plus
$350.8K
$307.0K – $409.3K
NOI $24,558 @ 7.0% cap · market cap 4.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$536.3K
$469.3K – $625.7K
NOI $37,540 @ 7.0% cap · market cap 6.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,707
Businesses Nearby
Explore this area
Business Placement
Demographics for 70130, LA
14,521
Population
10,927
Households
1.3
Avg Household Size
38
Median Age
64%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
6,915
Density / Sq Mi
$82,758
Median Household Income
$52,492
Median Earnings
$1,410
Median Rent
$529,300
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?
Multifamily property - Furnished income property near Magazine Street with flexible short-, mid-, and long-term rental potential.
Where is this multifamily property located?
The property is located at 813 Jackson Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $539,900.
What are key features of this property?
This property features: 2,110‑square‑foot two‑sided multifamily property; Fully furnished and turnkey; Short‑term, mid‑term, or long‑term rental potential
