Two-Unit Cottage
New
For Sale
$239,000
8424 S CLAIBORNE Avenue, New Orleans, LA 70118
Multi-Family, Creole Cottage, New Orleans, LA
Property Size1,700 SF
Lot Size0.11 Acres
Price / SF$140.59
Days on Market4
Property Features for 8424 S CLAIBORNE Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Lot features
Regular
Standard status
Active
APN
716305220
Size
1,700 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
SQS 307 & 324 LOT 12 S CLAIBORNE 30 X 163
Legal Description
SQS 307 & 324 LOT 12 S CLAIBORNE 30 X 163
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1940
Floors in Building
1
Number of units
2
Roof type
Shingle
Architectural style
Cottage
Listing Agency:
Homesmart Realty South · HomeSmart International
(504) 908-7653
Listed By:
Vanessa Parnell
(504) 421-1919
Added: Oct 20
Last Checked: Oct 23 at 12:06AM
MLS# 2580609
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.
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Investment Insights
Based on property information with market context.
This 1,700-square-foot duplex in New Orleans was built in 1940 in cottage style. The two residences have refurbished hardwood flooring, 12-foot ceilings, and updated bathrooms. Central heating and air conditioning serve the building, and both water meters are separate. The shingle roof was replaced two years ago; HVAC equipment and water heaters are newer, and the sewer line connects to the city line.
The property occupies a 0.1123-acre parcel at 8424 S Claiborne Avenue. Both units are tenant-occupied.
The property occupies a 0.1123-acre parcel at 8424 S Claiborne Avenue. Both units are tenant-occupied.
Key Highlights
- Two‑unit cottage duplex built in 1940
- 1,700 square feet on a 0.1123‑acre lot
- 12‑foot ceilings and refurbished hardwood flooring
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.
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Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
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
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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 units.
Where is this duplex located?
The property is located at 8424 S CLAIBORNE Avenue 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‑unit cottage duplex built in 1940; 1,700 square feet on a 0.1123‑acre lot; 12‑foot ceilings and refurbished hardwood flooring
