Duplex With Attached
For Sale
$1,700,000
839 PINE Street, New Orleans, LA 70118
Large two-part residential property with a separate apartment, private courtyard, front porch, and access to Uptown amenities.
Property Size6,024 SF
Price / SF$282.20
Days on Market14
Property Features for 839 PINE Street
General Information
Standard status
Active
Size
6,024 SF
Total Parking Spaces
2
Property subtype
Duplex
Additional Details
Gross Income
$24,000
Building Details
Building Size
6,024 SF
Year Built
1960
Listing Agency:
Homesmart Realty South
(504) 782-2470
Listed By:
Coniece Allen-Brown · License #000069487
Source:
Burkbrokerage
Added: Jul 29
Changed: Aug 3
Last Checked: Aug 10 at 9:12AM
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 Homesmart Realty South
Investment Insights
Based on property information with market context.
This duplex property at 839 Pine Street in New Orleans provides 6,024 square feet of residential space across a primary residence and a separate apartment. The main home includes 6 bedrooms and 3 bathrooms, along with high ceilings, a front porch, and a private courtyard. A distinct 2-bedroom apartment adds flexibility for rental, guest, or multigenerational use. The property also includes a 2-car attached garage and is situated in an X Flood Zone.
The location is three blocks from St. Charles Avenue and minutes from Audubon Park, Tulane University, dining, shopping, and entertainment. The combination of a substantial main residence, additional apartment space, outdoor areas, and attached parking supports a range of residential income and occupancy arrangements.
The location is three blocks from St. Charles Avenue and minutes from Audubon Park, Tulane University, dining, shopping, and entertainment. The combination of a substantial main residence, additional apartment space, outdoor areas, and attached parking supports a range of residential income and occupancy arrangements.
Key Highlights
- 6,024 SF duplex property with a primary residence and separate 2‑bedroom apartment
- Main residence includes 6 bedrooms and 3 bathrooms
- Separate 2‑bedroom apartment provides additional residential space
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
$76,279
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
4.49%
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%
$1,525,580
$1.5M
Cap Rate 7%
$1,089,700
$1.1M
Cap Rate 9%
$847,544
$847.5K
Market Conditions
NOI Build-Up for 6,024 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
$119.3K $19.80/SF
− Vacancy
−$10.3K −$1.71/SF
EGI
$109.0K $18.09/SF
− OpEx
−$32.7K −$5.43/SF
NOI
$76.3K $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%
$1,525,580
Cap Rate 7%
$1,089,700
Cap Rate 9%
$847,544
Alternative Uses
Best Use
Multifamily LT 5
$1.09M
$953.5K – $1.27M
NOI $76,279 @ 7.0% cap · market cap 4.49%
Second Best
Apartment 5plus
$1.00M
$876.4K – $1.17M
NOI $70,112 @ 7.0% cap · market cap 4.12%
Theoretical Best
Office A
$1.53M
$1.34M – $1.79M
NOI $107,177 @ 7.0% cap · market cap 6.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,499
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 - Large two-part residential property with a separate apartment, private courtyard, front porch, and access to Uptown amenities.
Where is this duplex located?
The property is located at 839 PINE Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 6,024 SF duplex property with a primary residence and separate 2‑bedroom apartment; Main residence includes 6 bedrooms and 3 bathrooms; Separate 2‑bedroom apartment provides additional residential space
