8331 NELSON Street, New Orleans, LA 70118
- Added:
- May 26, 2026
- Days on Market:
- 43
- Last Refresh:
- Jul 7 at 10:06 pm
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 agent Danielle Atkins License #995680313 (504) 220-7297
Listing office Service 1st Real Estate 13013 Justice Ave, Baton Rouge, LA (225) 503-2525
Listing date May 26, 2026
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.
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.
- Prime location with quick access to Ochsner Medical Center, Carrollton Corridor, and multiple universities.
- Major improvements include new plumbing, fully updated bathrooms, and a newly constructed front porch.
- Eligible for 100% financing and up to $3,000 in closing cost assistance through Hancock Whitney Bank and First Horizon Bank.
Overview
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.
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 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- New Orleans
- County
- Jefferson
- State
- Louisiana
- Longitude
- -90.121931
- Latitude
- 29.958932