Renovated Duplex with
8331 NELSON Street New Orleans, LA 70118
8331 NELSON Street, New Orleans, LA, 70118
$245,000
Pending
For Sale
$245,000
Pending
MULTI_FAMILY - New Orleans, LA
Property Size1,728 SF
Days on Market53
Property Features for 8331 NELSON Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Standard status
- Pending
- APN
- 716321816
- Size
- 1,728 SF
Utilities
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 2006
- Floors in Building
- 1
- Number of units
- 1
- Roof type
- Shingle
- Architectural style
- Other
Listing Agency
Service 1st Real Estate
(225) 503-2525
13013 Justice Ave, Baton Rouge, LA
Listed by
Danielle Atkins · License #995680313
(504) 220-7297
Added: May 26 Checked: Jul 17 at 3:06 pm
MLS# 2559857
Listing URL
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.
This beautifully renovated duplex offers two separate, functional living units within one property. Each unit features three bedrooms and an indoor laundry room, supported by thoughtful interior upgrades including fresh paint, recessed lighting, granite countertops, and new flooring in the kitchen and bathroom areas. Original solid wood floors run through the family room and bedrooms, preserving classic character while providing durable, ready-to-enjoy surfaces. Updates also include new plumbing, fully updated bathrooms, and a newly constructed front porch. The property is complemented by side entrances and a backyard that can support flexible living arrangements.
Located in the heart of Hollygrove, the property provides quick access to Ochsner Medical Center, the Carrollton Corridor, and nearby universities including Tulane University, Xavier University of Louisiana, and Loyola University New Orleans. It is also described as minutes from local dining, shopping, and outdoor attractions such as Longue Vue House and Gardens, City Park, and Audubon Park. Access to Downtown, Mid-City, and Uptown is described as convenient.
The layout and renovations make this duplex practical for investors seeking a turnkey residential income asset or for owner-occupants who want additional rental flexibility. The seller is offering incentives toward an appliance package for both units, and the remarks note both sides can rent based on HANO payment standards. Financing may be available with 100% financing and up to $3,000 in closing cost assistance through Hancock Whitney Bank and First Horizon Bank.
Located in the heart of Hollygrove, the property provides quick access to Ochsner Medical Center, the Carrollton Corridor, and nearby universities including Tulane University, Xavier University of Louisiana, and Loyola University New Orleans. It is also described as minutes from local dining, shopping, and outdoor attractions such as Longue Vue House and Gardens, City Park, and Audubon Park. Access to Downtown, Mid-City, and Uptown is described as convenient.
The layout and renovations make this duplex practical for investors seeking a turnkey residential income asset or for owner-occupants who want additional rental flexibility. The seller is offering incentives toward an appliance package for both units, and the remarks note both sides can rent based on HANO payment standards. Financing may be available with 100% financing and up to $3,000 in closing cost assistance through Hancock Whitney Bank and First Horizon Bank.
Key Highlights
- Turnkey, renovated multi‑family double ideal for investors or owner‑occupants.
- Each unit features 3 bedrooms with indoor laundry room and functional layouts.
- Potential for strong rental income; both sides can rent for $1947 per HANO payment standards.
Local 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 | $34.2k | $19.80 |
| − Vacancy | −$3.0k | −$1.71 |
| EGI | $31.3k | $18.09 |
| − OpEx | −$9.4k | −$5.43 |
| NOI | $21.9k | $12.66 |
1,728 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$312.6K
$273.5K – $364.7K
NOI $21,881 @ 7.0% cap · market cap 8.93%
Second Best
Apartment 5plus
$287.3K
$251.4K – $335.2K
NOI $20,112 @ 7.0% cap · market cap 8.21%
Theoretical Best
Office A
$439.2K
$384.3K – $512.4K
NOI $30,744 @ 7.0% cap · market cap 12.55%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Turnkey duplex with two 3-bedroom units, indoor laundry, side entrances, and renovated finishes throughout.
Where is this duplex located?
The property is located at 8331 NELSON Street New Orleans, LA.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Turnkey, renovated multi‑family double ideal for investors or owner‑occupants.; Each unit features **3 bedrooms with indoor laundry room** and functional layouts.; Potential for **strong rental income; both sides can rent for $1947** per HANO payment standards.
