Duplex With Off-Street
For Sale
$210,000
8615 BIRCH Street, New Orleans, LA 70118
Multi-Family, Shot Gun, New Orleans, LA
Property Size1,631 SF
Lot Size0.11 Acres
Price / SF$128.76
Days on Market49
Property Features for 8615 BIRCH Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Off Street
Lot features
Regular
Subdivision
Leonidas
Standard status
Active
APN
716206522
Size
1,631 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
SQ 207 LOT R-3 BIRCH 33 8 X 150 8615-17 BIRCH
Legal Description
SQ 207 LOT R-3 BIRCH 33 8 X 150 8615-17 BIRCH
Utilities
Heating system
Central
Cooling system
Window Unit(s), Central Air
Water source
Public
Building Details
Year built
1940
Floors in Building
1
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
Service 1st Real Estate
(225) 503-2525
Listed By:
Ashley Stevenson
(504) 975-2491
Added: Jul 21
Changed: Aug 26
Last Checked: Sep 7 at 3:06PM
MLS# 2568768
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 duplex contains 1,631 square feet on a 0.1136-acre lot and was built in 1940. The property includes off-street parking, central heating, window-unit cooling, and central air conditioning. Public water serves the property, and the roof is finished with shingles. The building requires repair and updating, offering a renovation project in its current condition.
Located at 8615 Birch Street in New Orleans’ 70118 ZIP code, the property is in the Leonidas area near South Carrollton Avenue. Streetcar and other transit access are nearby, adding transportation options to the surrounding residential setting.
Located at 8615 Birch Street in New Orleans’ 70118 ZIP code, the property is in the Leonidas area near South Carrollton Avenue. Streetcar and other transit access are nearby, adding transportation options to the surrounding residential setting.
Key Highlights
- Duplex with 1,631 square feet of property area
- 0.1136‑acre lot in New Orleans, LA 70118
- Built in 1940
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
$18,983
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
9.04%
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%
$379,660
$379.7K
Cap Rate 7%
$271,186
$271.2K
Cap Rate 9%
$210,922
$210.9K
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
$38.0K $23.28/SF
− Vacancy
−$3.5K −$2.12/SF
EGI
$34.5K $21.16/SF
− OpEx
−$15.5K −$9.52/SF
NOI
$19.0K $11.64/SF
Area
New Orleans, LA
Vacancy
9.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$379,660
Cap Rate 7%
$271,186
Cap Rate 9%
$210,922
Alternative Uses
Best Use
Multifamily LT 5
$295.0K
$258.2K – $344.2K
NOI $20,653 @ 7.0% cap · market cap 9.83%
Second Best
Apartment 5plus
$271.2K
$237.3K – $316.4K
NOI $18,983 @ 7.0% cap · market cap 9.04%
Theoretical Best
Office A
$414.5K
$362.7K – $483.6K
NOI $29,018 @ 7.0% cap · market cap 13.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with central heating, public water service, and a shingle roof.
Where is this duplex located?
The property is located at 8615 BIRCH Street New Orleans, LA.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Duplex with 1,631 square feet of property area; 0.1136‑acre lot in New Orleans, LA 70118; Built in 1940
