Two-Story Side-by-Side
For Sale
$650,000
Pending
855-57 Wilson Drive, New Orleans, LA 70119
Well-maintained duplex with updated kitchens and bathrooms, separate meters, private outdoor areas, and off-street vehicle storage.
Property Size3,406 SF
Days on Market202
Property Features for 855-57 Wilson Drive
General Information
Standard status
Pending
Size
3,406 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Additional Details
Multifamily Units
2
Amenities
hardwood floors
tall ceilings
large windows
porches
balcony
courtyard
detached shed
Central Air
Central
2
4
6
Asphalt, Other
Other
Balcony
Pillar/Post/Pier
Vinyl Siding, Wood Siding
Porch
Building Details
Year Built
1926
Buildings
1
Stories
2
Listing Agency:
Crane Realtors
(504) 210-2014
Listed By:
Aaron Dare · License #995681183
(504) 210-2014
Source:
Compass
Added: Feb 11
Changed: Aug 30
Last Checked: Aug 31 at 10:08PM
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.
Built in 1926, this side-by-side duplex contains two residences, with each unit arranged across two full floors. The interiors retain hardwood floors, tall ceilings, large windows, and original architectural details, while updated kitchens and bathrooms support everyday functionality. First-floor ceilings measure 8.5 feet, and the upper level reaches 10 feet. Central air, porches, balcony areas, and practical living and bedroom spaces are included throughout the property.
The property is located in Parkview near historic Bayou St John at 855-57 Wilson Drive, New Orleans, LA 70119. A driveway along the right side provides room for multiple vehicles, while the large paved rear courtyard adds usable exterior space. A detached shed supplies additional storage. The property is in flood zone X and has separate utility meters. The roof is 3 years old.
The property is located in Parkview near historic Bayou St John at 855-57 Wilson Drive, New Orleans, LA 70119. A driveway along the right side provides room for multiple vehicles, while the large paved rear courtyard adds usable exterior space. A detached shed supplies additional storage. The property is in flood zone X and has separate utility meters. The roof is 3 years old.
Key Highlights
- 3,406 SF side‑by‑side duplex built in 1926
- Each unit spans two full floors with 8.5' first‑floor and 10' upper‑level ceilings
- Updated kitchens and bathrooms with hardwood floors and original architectural details
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
$43,128
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
6.64%
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%
$862,560
$862.6K
Cap Rate 7%
$616,114
$616.1K
Cap Rate 9%
$479,200
$479.2K
Market Conditions
NOI Build-Up for 3,406 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
$67.4K $19.80/SF
− Vacancy
−$5.8K −$1.71/SF
EGI
$61.6K $18.09/SF
− OpEx
−$18.5K −$5.43/SF
NOI
$43.1K $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%
$862,560
Cap Rate 7%
$616,114
Cap Rate 9%
$479,200
Alternative Uses
Best Use
Multifamily LT 5
$616.1K
$539.1K – $718.8K
NOI $43,128 @ 7.0% cap · market cap 6.64%
Second Best
Apartment 5plus
$566.3K
$495.5K – $660.7K
NOI $39,642 @ 7.0% cap · market cap 6.10%
Theoretical Best
Office A
$891.2K
$779.8K – $1.04M
NOI $62,387 @ 7.0% cap · market cap 9.60%
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
1,860
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?
Duplex - Well-maintained duplex with updated kitchens and bathrooms, separate meters, private outdoor areas, and off-street vehicle storage.
Where is this duplex located?
The property is located at 855-57 Wilson Drive New Orleans, LA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 3,406 SF side‑by‑side duplex built in 1926; Each unit spans two full floors with 8.5' first‑floor and 10' upper‑level ceilings; Updated kitchens and bathrooms with hardwood floors and original architectural details
