Duplex with Hardwood
For Sale
$335,000
8633 35 S Claiborne Ave, New Orleans, LA 70118
Two separate residences each offer full baths, laundry facilities, and access to shared outdoor amenities.
Property Size1,735 SF
Price / SF$193.08
Days on Market9
Property Features for 8633 35 S Claiborne Ave
General Information
Standard status
Active
Size
1,735 SF
Property subtype
Multi-Family
Building Details
Year Built
1923
Construction
craftsman
Listing Agency:
REVE, REALTORS
(504) 913-0597
Listed By:
Jamie Hughes · License #000058832
Source:
Fiorellaavenue
Added: Aug 24
Changed: Aug 30
Last Checked: Aug 30 at 8:17PM
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 REVE, REALTORS
Investment Insights
Based on property information with market context.
Built in 1923, this 1,735-square-foot duplex presents two residences with original hardwood flooring, two full baths, and laundry facilities on each side. A roof installed in 2022 supports the property’s core improvements, while a covered rear deck extends toward the yard and detached storage shed.
The property is located at 8633 35 S Claiborne Ave in New Orleans, with travel times of less than 15 minutes to the Superdome and less than 10 minutes to Audubon Park and Tulane. The property is also situated in the X zone.
The property is located at 8633 35 S Claiborne Ave in New Orleans, with travel times of less than 15 minutes to the Superdome and less than 10 minutes to Audubon Park and Tulane. The property is also situated in the X zone.
Key Highlights
- 1,735‑square‑foot duplex built in 1923
- 2022 roof installation
- Original hardwood floors throughout
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
$21,969
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
6.56%
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%
$439,380
$439.4K
Cap Rate 7%
$313,843
$313.8K
Cap Rate 9%
$244,100
$244.1K
Market Conditions
NOI Build-Up for 1,735 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
$34.4K $19.80/SF
− Vacancy
−$3.0K −$1.71/SF
EGI
$31.4K $18.09/SF
− OpEx
−$9.4K −$5.43/SF
NOI
$22.0K $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%
$439,380
Cap Rate 7%
$313,843
Cap Rate 9%
$244,100
Alternative Uses
Best Use
Multifamily LT 5
$313.8K
$274.6K – $366.2K
NOI $21,969 @ 7.0% cap · market cap 6.56%
Second Best
Apartment 5plus
$288.5K
$252.4K – $336.6K
NOI $20,193 @ 7.0% cap · market cap 6.03%
Theoretical Best
Office A
$441.0K
$385.9K – $514.5K
NOI $30,869 @ 7.0% cap · market cap 9.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
567
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 - Two separate residences each offer full baths, laundry facilities, and access to shared outdoor amenities.
Where is this duplex located?
The property is located at 8633 35 S Claiborne Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: 1,735‑square‑foot duplex built in 1923; 2022 roof installation; Original hardwood floors throughout
