Historic 4-Unit
For Sale
$625,000
846-48 Roosevelt Place, New Orleans, LA 70119
Craftsman property with original architectural features, balconies, and a fenced backyard.
Property Size3,306 SF
Price / SF$189.05
Days on Market189
Property Features for 846-48 Roosevelt Place
General Information
Standard status
Active
Size
3,306 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Amenities
Window Unit(s)
Other Heat
2
4
6
In Unit
Asphalt, Other
Balcony
Pillar/Post/Pier
Wood Siding
Porch
Building Details
Year Built
1920
Listing Agency:
Crane Realtors
(504) 210-2014
Listed By:
Aaron Dare · License #995681183
(504) 210-2014
Source:
Compass
Added: Feb 23
Changed: Aug 30
Last Checked: Aug 30 at 3:38PM
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 Crane Realtors
Investment Insights
Based on property information with market context.
This 4-unit Craftsman property contains 3,306 square feet and dates to 1920. Preserved interior elements include original wood floors, wood windows, historic mantels, detailed millwork, coved ceilings, and exposed brick. The lower residences feature shotgun-style layouts, large kitchens, a rear independent room, and access to the fenced backyard. Upper residences offer separate bedrooms and share a substantial balcony. Window units and in-unit laundry are among the listed interior features, while the exterior includes wood siding, a porch, and pillar/post/pier construction.
Located in Parkview, the property is within a short walk of Bayou St. John and City Park. The roof was installed in 2022. The configuration supports continued rental use or an owner-occupancy arrangement with additional residences on site.
Located in Parkview, the property is within a short walk of Bayou St. John and City Park. The roof was installed in 2022. The configuration supports continued rental use or an owner-occupancy arrangement with additional residences on site.
Key Highlights
- 4‑unit Craftsman property with 3,306 square feet
- Built in 1920 with original wood floors, windows, mantels, millwork, coved ceilings, and exposed brick
- Roof installed in 2022
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
$41,862
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
6.70%
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%
$837,240
$837.2K
Cap Rate 7%
$598,029
$598.0K
Cap Rate 9%
$465,133
$465.1K
Market Conditions
NOI Build-Up for 3,306 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
$65.5K $19.80/SF
− Vacancy
−$5.7K −$1.71/SF
EGI
$59.8K $18.09/SF
− OpEx
−$17.9K −$5.43/SF
NOI
$41.9K $12.66/SF
Area
ZIP 70119
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%
$837,240
Cap Rate 7%
$598,029
Cap Rate 9%
$465,133
Alternative Uses
Best Use
Multifamily LT 5
$598.0K
$523.3K – $697.7K
NOI $41,862 @ 7.0% cap · market cap 6.70%
Second Best
Apartment 5plus
$549.7K
$481.0K – $641.3K
NOI $38,478 @ 7.0% cap · market cap 6.16%
Theoretical Best
Office A
$865.1K
$756.9K – $1.01M
NOI $60,555 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,857
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
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?
Quadplex - Craftsman property with original architectural features, balconies, and a fenced backyard.
Where is this quadplex located?
The property is located at 846-48 Roosevelt Place New Orleans, LA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 4‑unit Craftsman property with 3,306 square feet; Built in 1920 with original wood floors, windows, mantels, millwork, coved ceilings, and exposed brick; Roof installed in 2022
