Duplex with Refurbished Hardwood
For Sale
$239,000
8424 S Claiborne Ave, New Orleans, LA 70118
Both residences are tenant-occupied, with separate water meters serving the two units.
Property Size1,700 SF
Price / SF$140.59
Days on Market11
Property Features for 8424 S Claiborne Ave
General Information
Standard status
Active
Size
1,700 SF
Property subtype
Residential Income
Occupancy
100%
Site & Location
Neighborhood
Leonidas
Utilities to Site
Yes
Units
Multifamily Units
2
Individually Metered Utilities
water
Additional Details
Average Monthly Rent
$1,000
Tenant in Place
Yes
Building Details
Buildings
1
Construction
cottage
Tenancy
Multi
Listing Agency:
Homesmart Realty South - Metairie
(504) 908-7653
Listed By:
Vanessa D Parnell · License #000018598
(504) 421-1919
Source:
Exprealty
Added: Oct 20
Changed: Oct 29
Last Checked: Oct 28 at 4:30AM
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 - Metairie
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,700-square-foot duplex has two occupied units. Refurbished original hardwood floors and 12-foot ceilings are among the interior features, and the bathrooms in both units have been updated. The property also has a newer HVAC system and water heaters, a roof replaced two years ago, and a sewer line connected to the city line. Separate water meters serve each residence.
Key Highlights
- Two occupied units, each with a separate water meter
- 1,700 square feet with refurbished original hardwood floors and 12‑foot ceilings
- Bathrooms updated in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,526
Cap Rate
9.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$430,520
$430.5K
Cap Rate 7%
$307,514
$307.5K
Cap Rate 9%
$239,178
$239.2K
Market Conditions
NOI Build-Up for 1,700 SF
Gross rent
$33.7K $19.80/SF
− Vacancy
−$2.9K −$1.71/SF
EGI
$30.8K $18.09/SF
− OpEx
−$9.2K −$5.43/SF
NOI
$21.5K $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 Rate 5%
$430,520
Cap Rate 7%
$307,514
Cap Rate 9%
$239,178
Alternative Uses
Best Use
Multifamily LT 5
$307.5K
$269.1K – $358.8K
NOI $21,526 @ 7.0% cap · market cap 9.01%
Second Best
Apartment 5plus
$282.7K
$247.3K – $329.8K
NOI $19,786 @ 7.0% cap · market cap 8.28%
Theoretical Best
Office A
$432.1K
$378.1K – $504.1K
NOI $30,246 @ 7.0% cap · market cap 12.66%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
797
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are tenant-occupied, with separate water meters serving the two units.
Where is this duplex located?
The property is located at 8424 S Claiborne Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: Two occupied units, each with a separate water meter; 1,700 square feet with refurbished original hardwood floors and 12‑foot ceilings; Bathrooms updated in both units
