Duplex Requiring
For Sale
$230,000
8615 17 Birch Street, New Orleans, LA 70118
Duplex in the Leonidas area with nearby streetcar and transit access.
Property Size1,631 SF
Days on Market20
Property Features for 8615 17 Birch Street
General Information
Standard status
Active
Size
1,631 SF
Property subtype
Multi Family Home
Additional Details
Public Transit
Yes
Building Details
Building Size
1,631 SF
Year Built
1940
Stories
1
Listing Agency:
Service 1st Real Estate
(504) 975-2491
Listed By:
Ashley Stevenson
(504) 975-2491
Source:
Nolalivingrealty
Added: Jul 21
Changed: Aug 4
Last Checked: Aug 8 at 12:20PM
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 Service 1st Real Estate
Investment Insights
Based on property information with market context.
This duplex, built in 1940, is located in New Orleans’ Leonidas area near South Carrollton Avenue. The property requires repair and updating, offering a residential income asset for a buyer prepared to complete improvements.
Transit options, including nearby streetcar service, are part of the surrounding area. The property is situated at 8615–17 Birch Street in ZIP code 70118.
Transit options, including nearby streetcar service, are part of the surrounding area. The property is situated at 8615–17 Birch Street in ZIP code 70118.
Key Highlights
- Duplex property built in 1940
- Located in New Orleans’ Leonidas area
- Near South Carrollton Avenue
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
$20,653
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
8.98%
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%
$413,060
$413.1K
Cap Rate 7%
$295,043
$295.0K
Cap Rate 9%
$229,478
$229.5K
Market Conditions
NOI Build-Up for 1,631 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
$32.3K $19.80/SF
− Vacancy
−$2.8K −$1.71/SF
EGI
$29.5K $18.09/SF
− OpEx
−$8.9K −$5.43/SF
NOI
$20.7K $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%
$413,060
Cap Rate 7%
$295,043
Cap Rate 9%
$229,478
Alternative Uses
Best Use
Multifamily LT 5
$295.0K
$258.2K – $344.2K
NOI $20,653 @ 7.0% cap · market cap 8.98%
Second Best
Apartment 5plus
$271.2K
$237.3K – $316.4K
NOI $18,983 @ 7.0% cap · market cap 8.25%
Theoretical Best
Office A
$414.5K
$362.7K – $483.6K
NOI $29,018 @ 7.0% cap · market cap 12.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
875
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 - Duplex in the Leonidas area with nearby streetcar and transit access.
Where is this duplex located?
The property is located at 8615 17 Birch Street New Orleans, LA.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Duplex property built in 1940; Located in New Orleans’ Leonidas area; Near South Carrollton Avenue
