Two-Story Side-by-Side
For Sale
$650,000
855 57 Wilson Drive, New Orleans, LA 70119
Well-maintained multifamily property with updated kitchens and baths, separate utility meters, outdoor areas, and off-street vehicle space.
Property Size3,406 SF
Price / SF$190.84
Days on Market200
Property Features for 855 57 Wilson Drive
General Information
Standard status
Active
Size
3,406 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Amenities
courtyard
shed
porches
balcony
driveway
Building Details
Stories
2
Listing Agency:
Crane Realtors
(504) 210-2014
Listed By:
Aaron Dare · License #995681183
(504) 210-2014
Source:
Exprealty
Added: Feb 13
Changed: Aug 30
Last Checked: Aug 31 at 6:07PM
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 two-unit duplex is arranged as a side-by-side property, with each residence extending across two floors. Interior features include hardwood flooring, tall ceilings, large windows, open living areas, and generously sized bedrooms. Kitchens and bathrooms have been updated, while original architectural elements remain throughout. The upper level has 10' ceilings and the first floor has 8.5' ceilings.
The property includes separate meters, a 3 year old roof, and a flood zone X designation. A driveway along the right (857) side accommodates multiple vehicles. Porches and balcony areas add exterior space, complemented by a large paved back courtyard. A detached shed provides additional storage. The property is located in Parkview near historic Bayou St John at 855 57 Wilson Drive, New Orleans, LA 70119.
The property includes separate meters, a 3 year old roof, and a flood zone X designation. A driveway along the right (857) side accommodates multiple vehicles. Porches and balcony areas add exterior space, complemented by a large paved back courtyard. A detached shed provides additional storage. The property is located in Parkview near historic Bayou St John at 855 57 Wilson Drive, New Orleans, LA 70119.
Key Highlights
- 3,406 SF side‑by‑side duplex with two residences spanning two floors each
- Updated kitchens and bathrooms with hardwood floors and original architectural details
- 10' upper‑level ceilings and 8.5' first‑floor ceilings
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
Property Profile
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 multifamily property with updated kitchens and baths, separate utility meters, outdoor areas, and off-street vehicle space.
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 with two residences spanning two floors each; Updated kitchens and bathrooms with hardwood floors and original architectural details; 10' upper‑level ceilings and 8.5' first‑floor ceilings
