Updated Duplex with Long-Term
For Sale
$349,000
8430-32 Jeannette Street, New Orleans, LA 70118
Occupied duplex with central air, recent updates, and access to public transportation, restaurants, and neighborhood shops.
Property Size1,561 SF
Price / SF$223.57
Days on Market220
Property Features for 8430-32 Jeannette Street
General Information
Standard status
Active
Size
1,561 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Additional Details
Public Transit
Yes
Multifamily Units
2
Amenities
Central Air
Central
1
2
4
in unit
Asphalt
Other
Pillar/Post/Pier
Vinyl Siding
Building Details
Year Built
1963
Listing Agency:
eXp Realty, LLC
Listed By:
Lauren Lawson · License #995704895
(504) 452-8439
Source:
Compass
Added: Jan 26
Changed: Sep 2
Last Checked: Sep 1 at 11:26PM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
This two-unit residential property offers 1,561 square feet with long-term tenants in place. Recent updates, central air, vinyl siding, and a pier-and-post foundation support practical ongoing use, while asphalt surfaces contribute to straightforward exterior maintenance. Constructed in 1963, the property is located in the X Flood Zone.
The address is near S. Carrollton and Oak Street in New Orleans, with walkable access to public transportation, restaurants, and local shops. Its existing occupancy and two-unit configuration provide a clearly defined residential income property profile.
The address is near S. Carrollton and Oak Street in New Orleans, with walkable access to public transportation, restaurants, and local shops. Its existing occupancy and two-unit configuration provide a clearly defined residential income property profile.
Key Highlights
- Two‑unit property with 1,561 square feet
- Long‑term tenants currently in place
- Recently updated with central air
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
$19,766
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
5.66%
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%
$395,320
$395.3K
Cap Rate 7%
$282,371
$282.4K
Cap Rate 9%
$219,622
$219.6K
Market Conditions
NOI Build-Up for 1,561 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
$30.9K $19.80/SF
− Vacancy
−$2.7K −$1.71/SF
EGI
$28.2K $18.09/SF
− OpEx
−$8.5K −$5.43/SF
NOI
$19.8K $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%
$395,320
Cap Rate 7%
$282,371
Cap Rate 9%
$219,622
Alternative Uses
Best Use
Multifamily LT 5
$282.4K
$247.1K – $329.4K
NOI $19,766 @ 7.0% cap · market cap 5.66%
Second Best
Apartment 5plus
$259.5K
$227.1K – $302.8K
NOI $18,168 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$396.8K
$347.2K – $462.9K
NOI $27,773 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,185
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 - Occupied duplex with central air, recent updates, and access to public transportation, restaurants, and neighborhood shops.
Where is this duplex located?
The property is located at 8430-32 Jeannette Street New Orleans, LA.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Two‑unit property with 1,561 square feet; Long‑term tenants currently in place; Recently updated with central air
