Historic Two-Unit
For Sale
$599,000
819 21 N Robertson Street, New Orleans, LA 70116
Renovated property offers two spacious three-bedroom residences with off-street parking and in-unit laundry.
Property Size3,442 SF
Days on Market26
Property Features for 819 21 N Robertson Street
General Information
Standard status
Active
Size
3,442 SF
Property subtype
Multi Family Home
Building Details
Building Size
3,442 SF
Year Built
1910
Stories
2
Listing Agency:
Remax Crescent Collective LLC
(504) 202-6736
Listed By:
John Hendrix · License #995719267
(504) 202-6736
Source:
Nolalivingrealty
Added: Jul 30
Changed: Aug 19
Last Checked: Aug 23 at 12:17PM
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 Remax Crescent Collective LLC
Investment Insights
Based on property information with market context.
Built in 1910, this historic duplex contains two residences, each arranged with three bedrooms and two bathrooms. The property underwent renovation in 2021 using Historic Tax Credits and is listed on the National Register of Historic Places. Original character includes polished pine flooring and beaded-board walls more than 120 years old in portions of the lower residence.
Both units combine period details with everyday amenities, including gas ranges, refrigerators, dishwashers, gas tankless water heaters, and in-unit washers and dryers. Off-street parking is also provided, a practical feature for a property in the Historic Treme area.
The address is on North Robertson Street in New Orleans, near the French Quarter and Louis Armstrong Park.
Both units combine period details with everyday amenities, including gas ranges, refrigerators, dishwashers, gas tankless water heaters, and in-unit washers and dryers. Off-street parking is also provided, a practical feature for a property in the Historic Treme area.
The address is on North Robertson Street in New Orleans, near the French Quarter and Louis Armstrong Park.
Key Highlights
- Two‑unit duplex with 3BR/2BA layouts in each residence
- Renovated in 2021 using Historic Tax Credits
- Listed on the National Register of Historic Places
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
$43,584
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
7.28%
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%
$871,680
$871.7K
Cap Rate 7%
$622,629
$622.6K
Cap Rate 9%
$484,267
$484.3K
Market Conditions
NOI Build-Up for 3,442 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
$68.2K $19.80/SF
− Vacancy
−$5.9K −$1.71/SF
EGI
$62.3K $18.09/SF
− OpEx
−$18.7K −$5.43/SF
NOI
$43.6K $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%
$871,680
Cap Rate 7%
$622,629
Cap Rate 9%
$484,267
Alternative Uses
Best Use
Multifamily LT 5
$622.6K
$544.8K – $726.4K
NOI $43,584 @ 7.0% cap · market cap 7.28%
Second Best
Apartment 5plus
$572.3K
$500.8K – $667.7K
NOI $40,061 @ 7.0% cap · market cap 6.69%
Theoretical Best
Office A
$874.8K
$765.5K – $1.02M
NOI $61,239 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,827
Businesses Nearby
Explore this area
Business Placement
Demographics for 70116, LA
10,676
Population
9,620
Households
1.1
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
8,212
Density / Sq Mi
$45,580
Median Household Income
$34,849
Median Earnings
$1,190
Median Rent
$385,100
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 - Renovated property offers two spacious three-bedroom residences with off-street parking and in-unit laundry.
Where is this duplex located?
The property is located at 819 21 N Robertson Street New Orleans, LA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two‑unit duplex with 3BR/2BA layouts in each residence; Renovated in 2021 using Historic Tax Credits; Listed on the National Register of Historic Places
