Two-Story
For Sale
$510,000
841 Washington Ave, New Orleans, LA 70130
Two residential units offer separate kitchens, laundry areas, updated baths, storage, and rear parking.
Property Size2,254 SF
Price / SF$226.26
Days on Market43
Property Features for 841 Washington Ave
General Information
Standard status
Active
Size
2,254 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Building Details
Year Built
1910
Listing Agency:
Wurth Real Estate Services
(504) 813-2996
Listed By:
Charles Conforto, Felicia Conforto · License #995685166
Source:
Fiorellaavenue
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 30 at 7:47PM
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 Wurth Real Estate Services
Investment Insights
Based on property information with market context.
Built in 1910, this duplex contains two residential units arranged in front and rear configurations. Each unit includes 2 bedrooms and 2 full baths across two levels, with one bedroom and one full bath on each floor. Interior features include granite kitchen counters, stainless steel appliances, separate laundry areas, marble-finished baths, abundant natural light, and substantial storage.
The property is located at 841 Washington Ave in New Orleans’ Historic District, with off-street parking at the rear. Magazine Street shops and restaurants are within walking distance, adding a convenient retail and dining setting to the property’s residential configuration.
The property is located at 841 Washington Ave in New Orleans’ Historic District, with off-street parking at the rear. Magazine Street shops and restaurants are within walking distance, adding a convenient retail and dining setting to the property’s residential configuration.
Key Highlights
- Two units, each with 2 bedrooms and 2 full baths
- Two‑story layouts place a bedroom and full bath on each level
- Granite counters and stainless steel appliances in both kitchens
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
$28,541
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
5.60%
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%
$570,820
$570.8K
Cap Rate 7%
$407,729
$407.7K
Cap Rate 9%
$317,122
$317.1K
Market Conditions
NOI Build-Up for 2,254 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
$44.6K $19.80/SF
− Vacancy
−$3.9K −$1.71/SF
EGI
$40.8K $18.09/SF
− OpEx
−$12.2K −$5.43/SF
NOI
$28.5K $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%
$570,820
Cap Rate 7%
$407,729
Cap Rate 9%
$317,122
Alternative Uses
Best Use
Multifamily LT 5
$407.7K
$356.8K – $475.7K
NOI $28,541 @ 7.0% cap · market cap 5.60%
Second Best
Apartment 5plus
$374.8K
$327.9K – $437.2K
NOI $26,234 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$572.9K
$501.3K – $668.4K
NOI $40,102 @ 7.0% cap · market cap 7.86%
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
1,890
Businesses Nearby
Explore this area
Business Placement
Demographics for 70130, LA
14,521
Population
10,927
Households
1.3
Avg Household Size
38
Median Age
64%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
6,915
Density / Sq Mi
$82,758
Median Household Income
$52,492
Median Earnings
$1,410
Median Rent
$529,300
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 - Two residential units offer separate kitchens, laundry areas, updated baths, storage, and rear parking.
Where is this duplex located?
The property is located at 841 Washington Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 2 full baths; Two‑story layouts place a bedroom and full bath on each level; Granite counters and stainless steel appliances in both kitchens
