Renovated Duplex with
For Sale
$399,000
8537-39 Apricot Street, New Orleans, LA 70118
Updated two-unit property with central air and off-street parking.
Property Size1,900 SF
Price / SF$210
Days on Market136
Property Features for 8537-39 Apricot Street
General Information
Standard status
Active
Size
1,900 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Site & Location
Highway Access
Yes
Public Transit
Yes
Amenities
Central Air
Central
1
2
6
Inside
Asphalt, Energy STAR Rated
Other
Pillar/Post/Pier
Wood Siding
Building Details
Year Built
1940
Listing Agency:
R. J. Brent & Associates Company, Inc.
Listed By:
Janet Maumus · License #000074237
(504) 376-4924
Source:
Compass
Added: Apr 20
Changed: Aug 31
Last Checked: Sep 1 at 10:51PM
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 R. J. Brent & Associates Company, Inc.
Investment Insights
Based on property information with market context.
This 1,900-square-foot duplex was built in 1940 and has undergone a full renovation. The property includes two bathrooms, central air, wood siding, and a two-unit configuration that can support owner occupancy alongside rental use. Recent improvements include a new roof, electrical system, and plumbing, providing updated core systems for both units.
Off-street parking adds practical convenience for residents. The property is located in New Orleans near interstate access and public transportation, with shopping, dining, and everyday amenities available in the surrounding area. Its residential setting and dual-unit layout provide flexibility for an owner-occupant or an investor seeking a multifamily property.
Off-street parking adds practical convenience for residents. The property is located in New Orleans near interstate access and public transportation, with shopping, dining, and everyday amenities available in the surrounding area. Its residential setting and dual-unit layout provide flexibility for an owner-occupant or an investor seeking a multifamily property.
Key Highlights
- 1,900‑square‑foot duplex with two‑unit configuration
- Fully renovated with new roof, electrical, and plumbing
- Central air and wood siding
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
$24,059
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
6.03%
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%
$481,180
$481.2K
Cap Rate 7%
$343,700
$343.7K
Cap Rate 9%
$267,322
$267.3K
Market Conditions
NOI Build-Up for 1,900 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
$37.6K $19.80/SF
− Vacancy
−$3.3K −$1.71/SF
EGI
$34.4K $18.09/SF
− OpEx
−$10.3K −$5.43/SF
NOI
$24.1K $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%
$481,180
Cap Rate 7%
$343,700
Cap Rate 9%
$267,322
Alternative Uses
Best Use
Multifamily LT 5
$343.7K
$300.7K – $401.0K
NOI $24,059 @ 7.0% cap · market cap 6.03%
Second Best
Apartment 5plus
$315.9K
$276.4K – $368.6K
NOI $22,114 @ 7.0% cap · market cap 5.54%
Theoretical Best
Office A
$482.9K
$422.6K – $563.4K
NOI $33,804 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
712
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 - Updated two-unit property with central air and off-street parking.
Where is this duplex located?
The property is located at 8537-39 Apricot Street New Orleans, LA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 1,900‑square‑foot duplex with two‑unit configuration; Fully renovated with new roof, electrical, and plumbing; Central air and wood siding
