Victorian Shotgun Duplex with
For Sale
$425,000
Pending
8238 SPRUCE Street, New Orleans, LA 70118
MULTI_FAMILY - New Orleans, LA
Property Size2,194 SF
Lot Size0.08 Acres
Days on Market129
Property Features for 8238 SPRUCE Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Patio and Porch features
Porch
Exterior features
Fence, Porch
Fencing
Fenced
Lot features
Corner, Regular
Subdivision
Leonidas
Standard status
Pending
APN
716302208
Size
2,194 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Description
SQ 257 LOT X SPRUCE & DANTE 30 X 120 8238-40 SPRUCE
Legal Description
SQ 257 LOT X SPRUCE & DANTE 30 X 120 8238-40 SPRUCE
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1920
Floors in Building
1
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
(504) 455-0100
Listed By:
Mary Danna · License #995689808
(504) 669-8822
Added: Mar 25
Changed: Jul 22
Last Checked: Jul 31 at 9:06AM
MLS# 2548075
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Set as a Victorian shotgun double on a corner lot, this duplex blends classic New Orleans details with a practical two-unit layout. The exterior stands out for its symmetrical double front porches, intricate gingerbread millwork, and bold navy steps. Inside, high ceilings, original hardwood floors, decorative mantels, and transom windows create a bright, character-forward interior for both units.
The property also offers a thoughtfully arranged outdoor space. Behind the home, you’ll find a yard with a stepping stone path, turf lawn, privacy fencing, and a pergola equipped with string lights, creating a ready setting for outdoor dining and relaxed lounging. This configuration supports an owner-occupant lifestyle as well as tenant-friendly day-to-day usability.
From an investment perspective, the duplex setup is designed for strong rental potential, with the advantage of having two income-producing units in one cohesive asset. For buyers who prefer to reduce carrying costs, the layout supports an owner-occupy approach where you can live in one unit and rent the other. With its combination of original architectural elements and an outdoor area that’s already positioned for everyday use, the property offers a compelling mix of charm, flexibility, and long-term functionality.
The property also offers a thoughtfully arranged outdoor space. Behind the home, you’ll find a yard with a stepping stone path, turf lawn, privacy fencing, and a pergola equipped with string lights, creating a ready setting for outdoor dining and relaxed lounging. This configuration supports an owner-occupant lifestyle as well as tenant-friendly day-to-day usability.
From an investment perspective, the duplex setup is designed for strong rental potential, with the advantage of having two income-producing units in one cohesive asset. For buyers who prefer to reduce carrying costs, the layout supports an owner-occupy approach where you can live in one unit and rent the other. With its combination of original architectural elements and an outdoor area that’s already positioned for everyday use, the property offers a compelling mix of charm, flexibility, and long-term functionality.
Key Highlights
- Victorian shotgun double with strong rental potential or owner‑occupancy option.
- Corner lot featuring symmetrical double front porches and intricate gingerbread millwork.
- Original hardwood floors, high ceilings, and decorative mantels throughout.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.4k | $19.80 |
| − Vacancy | −$3.8k | −$1.71 |
| EGI | $39.7k | $18.09 |
| − OpEx | −$11.9k | −$5.43 |
| NOI | $27.8k | $12.66 |
2,194 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$396.9K
$347.3K – $463.0K
NOI $27,782 @ 7.0% cap · market cap 6.54%
Second Best
Apartment 5plus
$364.8K
$319.2K – $425.6K
NOI $25,536 @ 7.0% cap · market cap 6.01%
Theoretical Best
Office A
$557.6K
$487.9K – $650.6K
NOI $39,035 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,035
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 - Corner-lot Victorian duplex features transom windows, original hardwood, and outdoor-ready yard for flexible living or rental income.
Where is this duplex located?
The property is located at 8238 SPRUCE Street New Orleans, LA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Victorian shotgun double with strong rental potential or owner‑occupancy option.; Corner lot featuring symmetrical double front porches and intricate gingerbread millwork.; Original hardwood floors, high ceilings, and decorative mantels throughout.
