Duplex with Private
For Sale
$699,000
817-19 Cherokee Street, New Orleans, LA 70118
Two residential units offer separate laundry rooms, central HVAC, updated kitchens, and upstairs bedrooms.
Property Size3,108 SF
Price / SF$224.90
Days on Market166
Property Features for 817-19 Cherokee Street
General Information
Standard status
Active
Size
3,108 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Amenities
private deep front porch
laundry room
central AC/heater
fireplace mantels
hardwood floors
stained glass
white picket fence
landscaped backyard
Central Air
Central
2
4
yes
Asphalt
Other
Pillar/Post/Pier
HardiPlank Type, Wood Siding
Porch
Building Details
Year Built
1917
Buildings
1
Listing Agency:
Berkshire Hathaway HomeServices Preferred, REALTOR
(504) 610-0679
Listed By:
Nathalie Dubois · License #995703042
(504) 610-0679
Source:
Compass
Added: Mar 20
Changed: Aug 31
Last Checked: Aug 31 at 12:33AM
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 Berkshire Hathaway HomeServices Preferred, REALTOR
Investment Insights
Based on property information with market context.
This 3,108-square-foot duplex, built in 1917, contains two residential units with a matching two-bedroom, one-full-bath, and one-half-bath configuration. Both residences place the bedrooms upstairs and provide a foyer, dining area, living room, kitchen with stainless steel appliances and gas ranges, laundry room, and half bath. Central air conditioning and heating serve each side. Architectural details include fireplace mantels, high ceilings, hardwood floors, stained glass, and distinctive wood-and-HardiPlank siding. Each unit also has a deep private front porch, while the property includes a landscaped backyard and a white picket fence.
Located at 817-19 Cherokee Street in New Orleans, the property is near Tulane and Loyola Universities, with St. Charles Avenue, Audubon Park, and Maple Street a short distance away. The duplex includes four bedrooms and 2.5 baths in total, with separate laundry facilities for each unit.
Located at 817-19 Cherokee Street in New Orleans, the property is near Tulane and Loyola Universities, with St. Charles Avenue, Audubon Park, and Maple Street a short distance away. The duplex includes four bedrooms and 2.5 baths in total, with separate laundry facilities for each unit.
Key Highlights
- 3,108 SF duplex built in 1917
- Two units, each with 2 bedrooms, 1 full bath, and 1 half bath
- Private deep front porch for each unit
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
$39,355
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
5.63%
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%
$787,100
$787.1K
Cap Rate 7%
$562,214
$562.2K
Cap Rate 9%
$437,278
$437.3K
Market Conditions
NOI Build-Up for 3,108 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
$61.5K $19.80/SF
− Vacancy
−$5.3K −$1.71/SF
EGI
$56.2K $18.09/SF
− OpEx
−$16.9K −$5.43/SF
NOI
$39.4K $12.66/SF
Area
New Orleans, LA
Vacancy
8.64%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$787,100
Cap Rate 7%
$562,214
Cap Rate 9%
$437,278
Alternative Uses
Best Use
Multifamily LT 5
$562.2K
$491.9K – $655.9K
NOI $39,355 @ 7.0% cap · market cap 5.63%
Second Best
Apartment 5plus
$516.8K
$452.2K – $602.9K
NOI $36,174 @ 7.0% cap · market cap 5.18%
Theoretical Best
Office A
$790.0K
$691.2K – $921.6K
NOI $55,297 @ 7.0% cap · market cap 7.91%
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
1,538
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
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 residential units offer separate laundry rooms, central HVAC, updated kitchens, and upstairs bedrooms.
Where is this duplex located?
The property is located at 817-19 Cherokee Street New Orleans, LA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 3,108 SF duplex built in 1917; Two units, each with 2 bedrooms, 1 full bath, and 1 half bath; Private deep front porch for each unit
