New-Construction Duplex with Modern
For Sale
$405,000
8932 34 Palm Street, New Orleans, LA 70118
Two residential units offer three-bedroom layouts, central HVAC, and energy-efficient construction.
Property Size2,684 SF
Days on Market41
Property Features for 8932 34 Palm Street
General Information
Standard status
Active
Size
2,684 SF
Property subtype
Multi Family Home
Building Details
Building Size
2,684 SF
Year Built
2026
Stories
2
Listing Agency:
Bridgewater Realty Advisors, LLC
(504) 298-8631
Listed By:
Mason McCullough · License #LA9705
(504) 298-8631
Source:
Nolalivingrealty
Added: Jul 15
Changed: Aug 23
Last Checked: Aug 23 at 11:50AM
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 Bridgewater Realty Advisors, LLC
Investment Insights
Based on property information with market context.
Completed in 2026, this duplex contains two separate three-bedroom, two-bathroom residences suited to an owner-occupant arrangement or rental operation. Both units feature quartz work surfaces, shaker-style cabinets, stainless steel appliances, luxury vinyl plank flooring, and central HVAC. Energy-efficient construction and durable interior finishes support a low-maintenance setup.
The property is located at 8932 34 Palm Street in New Orleans, Louisiana, within the Hollygrove area. Each residence provides the same three-bedroom, two-bathroom configuration, creating a consistent layout across the building. The property information also identifies rental income from the second unit as part of the ownership model.
The property is located at 8932 34 Palm Street in New Orleans, Louisiana, within the Hollygrove area. Each residence provides the same three-bedroom, two-bathroom configuration, creating a consistent layout across the building. The property information also identifies rental income from the second unit as part of the ownership model.
Key Highlights
- Two‑unit duplex completed in 2026
- Both residences offer 3BR/2BA layouts
- Quartz countertops, shaker cabinetry, and stainless steel appliances
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
$33,986
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
8.39%
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%
$679,720
$679.7K
Cap Rate 7%
$485,514
$485.5K
Cap Rate 9%
$377,622
$377.6K
Market Conditions
NOI Build-Up for 2,684 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
$53.1K $19.80/SF
− Vacancy
−$4.6K −$1.71/SF
EGI
$48.6K $18.09/SF
− OpEx
−$14.6K −$5.43/SF
NOI
$34.0K $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%
$679,720
Cap Rate 7%
$485,514
Cap Rate 9%
$377,622
Alternative Uses
Best Use
Multifamily LT 5
$485.5K
$424.8K – $566.4K
NOI $33,986 @ 7.0% cap · market cap 8.39%
Second Best
Apartment 5plus
$446.3K
$390.5K – $520.7K
NOI $31,239 @ 7.0% cap · market cap 7.71%
Theoretical Best
Office A
$682.2K
$596.9K – $795.9K
NOI $47,753 @ 7.0% cap · market cap 11.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
444
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 residential units offer three-bedroom layouts, central HVAC, and energy-efficient construction.
Where is this duplex located?
The property is located at 8932 34 Palm Street New Orleans, LA.
What is the asking price?
The asking price for this property is $405,000.
What are key features of this property?
This property features: Two‑unit duplex completed in 2026; Both residences offer 3BR/2BA layouts; Quartz countertops, shaker cabinetry, and stainless steel appliances
