Two-Unit Shotgun
New
For Sale
$399,000
831 33 Hidalgo St, New Orleans, LA 70124
Both residences feature private laundry, outdoor space, and separate off-street parking.
Property Size1,800 SF
Price / SF$221.67
Days on Market4
Property Features for 831 33 Hidalgo St
General Information
Standard status
Active
Size
1,800 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Parking per Unit
1
Amenities
in-unit laundry
central air and heat
outdoor space
Building Details
Year Built
1942
Buildings
1
Construction
shotgun-style
Listing Agency:
Bennette Dukes Realty LLC
(504) 321-1014
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 7:15AM
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 Bennette Dukes Realty LLC
Investment Insights
Based on property information with market context.
This 1,800-square-foot duplex, built in 1942, contains two residences with a shotgun-style layout. Each unit has two bedrooms, one bathroom, wood floors, tall windows, central air and heat, a spacious kitchen, in-unit laundry, and outdoor space. Off-street parking is provided for each side, and the property is in an X Flood Zone.
The property is in New Orleans’ Navarre neighborhood, a short walk from City Park and Café Navarre. NOMA, Bayou St. John, Lafitte Greenway, and the Endymion Parade are also nearby. Mid-City is accessible from this residential setting.
The property is in New Orleans’ Navarre neighborhood, a short walk from City Park and Café Navarre. NOMA, Bayou St. John, Lafitte Greenway, and the Endymion Parade are also nearby. Mid-City is accessible from this residential setting.
Key Highlights
- Two‑unit duplex with 1,800 square feet
- Each unit has 2 bedrooms and 1 bathroom
- Shotgun‑style floor plan with wood floors and tall windows
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
$22,792
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
5.71%
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%
$455,840
$455.8K
Cap Rate 7%
$325,600
$325.6K
Cap Rate 9%
$253,244
$253.2K
Market Conditions
NOI Build-Up for 1,800 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
$35.6K $19.80/SF
− Vacancy
−$3.1K −$1.71/SF
EGI
$32.6K $18.09/SF
− OpEx
−$9.8K −$5.43/SF
NOI
$22.8K $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%
$455,840
Cap Rate 7%
$325,600
Cap Rate 9%
$253,244
Alternative Uses
Best Use
Multifamily LT 5
$325.6K
$284.9K – $379.9K
NOI $22,792 @ 7.0% cap · market cap 5.71%
Second Best
Apartment 5plus
$299.3K
$261.9K – $349.2K
NOI $20,950 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$457.5K
$400.3K – $533.8K
NOI $32,025 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
532
Businesses Nearby
Explore this area
Business Placement
Demographics for 70124, LA
22,777
Population
8,919
Households
2.6
Avg Household Size
37
Median Age
70%
College-Educated
98%
High-School Grad
6.7 sq mi
ZIP Area
3,400
Density / Sq Mi
$121,318
Median Household Income
$66,323
Median Earnings
$1,752
Median Rent
$577,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences feature private laundry, outdoor space, and separate off-street parking.
Where is this duplex located?
The property is located at 831 33 Hidalgo St New Orleans, LA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,800 square feet; Each unit has 2 bedrooms and 1 bathroom; Shotgun‑style floor plan with wood floors and tall windows
