Renovated Duplex Near Carrollton
For Sale
$229,000
8533 FORSHEY Street, New Orleans, LA 70118
MULTI_FAMILY - New Orleans, LA
Property Size1,512 SF
Lot Size0.12 Acres
Price / SF$151.46
Days on Market178
Property Features for 8533 FORSHEY Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Driveway
Patio and Porch features
Porch
Exterior features
Porch
Lot features
Regular
Subdivision
Holly Grove
Standard status
Active
APN
716407801
Size
1,512 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
SQ 509 LOT W5 37.5X140.6 8517-19 FORSHEY ST
Legal Description
SQ 509 LOT W5 37.5X140.6 8517-19 FORSHEY ST
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1930
Floors in Building
1
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
REVE, REALTORS
(504) 300-0700
Listed By:
Joey Walker · License #995699523
(504) 300-0700
Added: Feb 2
Changed: May 14
Last Checked: Jul 30 at 11:06PM
MLS# 2541035
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.
Investment Insights
Based on property information with market context.
This renovated duplex presents an excellent investment opportunity in a high-demand New Orleans location, situated just four blocks from South Carrollton Avenue. The property features two classic shotgun-style units, each offering 2 bedrooms and 1 bathroom. Both units include updated kitchens and baths, and central HVAC. Off-street parking is available. The property is fully leased and generates $2,200 in monthly rental income. Tenants are responsible for their own utilities. Convenient access to I-10, public transportation, and nearby shopping enhances long-term rental appeal. The property size is 1512 square feet, situated on a lot of 0.1209 acres. This duplex is available individually or as part of a seven-property package, all situated on the same square. A 48-hour notice is required for showings, which are available to pre-approved buyers.
Key Highlights
- Fully leased duplex generating $2,200 monthly rental income.
- Updated kitchens and baths in both units.
- Excellent investment opportunity in a high‑demand New Orleans location (four blocks from South Carrollton Avenue).
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $29.9k | $19.80 |
| − Vacancy | −$2.6k | −$1.71 |
| EGI | $27.4k | $18.09 |
| − OpEx | −$8.2k | −$5.43 |
| NOI | $19.1k | $12.66 |
1,512 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$273.5K
$239.3K – $319.1K
NOI $19,146 @ 7.0% cap · market cap 8.36%
Second Best
Apartment 5plus
$251.4K
$220.0K – $293.3K
NOI $17,598 @ 7.0% cap · market cap 7.68%
Theoretical Best
Office A
$384.3K
$336.3K – $448.4K
NOI $26,901 @ 7.0% cap · market cap 11.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
893
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Income-producing duplex with modern updates in prime New Orleans location.
Where is this duplex located?
The property is located at 8533 FORSHEY Street New Orleans, LA.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: Fully leased duplex generating $2,200 monthly rental income.; Updated kitchens and baths in both units.; Excellent investment opportunity in a high‑demand New Orleans location (four blocks from South Carrollton Avenue).
