Craftsman 4-Unit
New
For Sale
$599,000
846 48 Roosevelt Pl, New Orleans, LA 70119
A mix of shotgun-style lower residences and upper units with independent bedrooms creates varied layouts.
Property Size3,306 SF
Price / SF$181.19
Days on Market4
Property Features for 846 48 Roosevelt Pl
General Information
Standard status
Active
Size
3,306 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Amenities
balcony
fenced backyard
Building Details
Year Built
1920
Construction
craftsman
Listing Agency:
Crane Realtors
Listed By:
Aaron Dare · License #995681183
(504) 210-2014
Source:
Fiorellaavenue
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 9:39AM
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 1920-built quadplex contains 3,306 square feet and retains original wood floors, wood windows, historic mantels, detailed millwork, coved ceilings, and exposed brick. The two lower residences have shotgun-style layouts, large kitchens, and access to a fenced backyard. Each includes a separate room at the rear and a pass-through bedroom. The upper residences have independent bedrooms and share a large balcony.
The property is in Parkview, within walking distance of Bayou St. John and City Park. Its four-unit configuration combines distinct floor plans with preserved architectural features.
The property is in Parkview, within walking distance of Bayou St. John and City Park. Its four-unit configuration combines distinct floor plans with preserved architectural features.
Key Highlights
- Four‑unit property with 3,306 square feet
- Original wood floors, wood windows, historic mantels, millwork, coved ceilings, and exposed brick
- Lower units feature shotgun‑style layouts, large kitchens, and fenced backyard access
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
6.99%
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 6.99%
Second Best
Apartment 5plus
$549.7K
$481.0K – $641.3K
NOI $38,478 @ 7.0% cap · market cap 6.42%
Theoretical Best
Office A
$865.1K
$756.9K – $1.01M
NOI $60,555 @ 7.0% cap · market cap 10.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - A mix of shotgun-style lower residences and upper units with independent bedrooms creates varied layouts.
Where is this quadplex located?
The property is located at 846 48 Roosevelt Pl New Orleans, LA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Four‑unit property with 3,306 square feet; Original wood floors, wood windows, historic mantels, millwork, coved ceilings, and exposed brick; Lower units feature shotgun‑style layouts, large kitchens, and fenced backyard access
