Renovated Triplex with Historic
For Sale
$475,000
822 24 Cambronne Street, New Orleans, LA 70118
Three distinct living spaces combine updated systems, flexible layouts, and preserved architectural details.
Property Size2,026 SF
Days on Market23
Property Features for 822 24 Cambronne Street
General Information
Standard status
Active
Size
2,026 SF
Property subtype
Multi Family Home
Units
Unit Mix
2 x 2BR/2BA, 1 x efficiency
Multifamily Units
3
Building Details
Building Size
2,026 SF
Year Built
1950
Stories
1
Construction
shotgun
Listing Agency:
Ms Realty, LLC
(504) 606-6340
Listed By:
Stephanie Morris · License #995694030
(504) 606-6340
Source:
Nolalivingrealty
Added: Jul 20
Changed: Aug 8
Last Checked: Aug 10 at 12:15PM
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 Ms Realty, LLC
Investment Insights
Based on property information with market context.
This three-unit residential income property, built in 1950, includes two modified shotgun residences and a rear efficiency apartment. Each front unit provides 2 bedrooms and 2 bathrooms, while the rear unit includes a kitchenette and full bath. Renovation work includes a reconfigured floor plan, wood-look ceramic tile, original hardwood flooring, and new central air-conditioning and heating systems. The interiors also retain period details such as faux fireplaces, a claw-foot bathtub, and a breakfast bar with a rustic finish. Twelve-foot ceilings add volume throughout the living areas.
The property is located in New Orleans’ Riverbend area, just off River Road and near Tulane University and Loyola University. Its three-unit configuration supports the owner-occupant, multigenerational living, and income-producing uses identified for the property.
The property is located in New Orleans’ Riverbend area, just off River Road and near Tulane University and Loyola University. Its three-unit configuration supports the owner-occupant, multigenerational living, and income-producing uses identified for the property.
Key Highlights
- Three‑unit configuration with two 2‑bedroom, 2‑bath residences
- Rear efficiency apartment with kitchenette and full bath
- New central air‑conditioning and heating systems
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
$25,654
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
5.40%
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%
$513,080
$513.1K
Cap Rate 7%
$366,486
$366.5K
Cap Rate 9%
$285,044
$285.0K
Market Conditions
NOI Build-Up for 2,026 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
$40.1K $19.80/SF
− Vacancy
−$3.5K −$1.71/SF
EGI
$36.6K $18.09/SF
− OpEx
−$11.0K −$5.43/SF
NOI
$25.7K $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%
$513,080
Cap Rate 7%
$366,486
Cap Rate 9%
$285,044
Alternative Uses
Best Use
Multifamily LT 5
$366.5K
$320.7K – $427.6K
NOI $25,654 @ 7.0% cap · market cap 5.40%
Second Best
Apartment 5plus
$336.9K
$294.8K – $393.0K
NOI $23,580 @ 7.0% cap · market cap 4.96%
Theoretical Best
Office A
$514.9K
$450.6K – $600.8K
NOI $36,046 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,208
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?
Triplex - Three distinct living spaces combine updated systems, flexible layouts, and preserved architectural details.
Where is this triplex located?
The property is located at 822 24 Cambronne Street New Orleans, LA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Three‑unit configuration with two 2‑bedroom, 2‑bath residences; Rear efficiency apartment with kitchenette and full bath; New central air‑conditioning and heating systems
