Hollygrove Raised Duplex: Income
9000-02 Edinburgh Street New Orleans, LA 70118
9000-02 Edinburgh Street, New Orleans, LA, 70118
$370,000
For Sale
$370,000
Charming duplex in Hollygrove with immediate rental income.
Property Size1,416 SF
Price / SF$261.30
Days on Market87
Property Features for 9000-02 Edinburgh Street
General Information
- Standard status
- Active
- Size
- 1,416 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 2020
Listing Agency
Satsuma Real Estate LLC
(504) 460-7279
Listed by
Brian Shepard · License #995688465
(504) 460-7279
Source
Compass
Added: Apr 23 Checked: Jul 17 at 5:27 am
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 Satsuma Real Estate LLC
Investment Insights
Based on property information with market context.
Located in Hollygrove, this raised duplex at 9000-02 Edinburgh Street features two units, each with 3 bedrooms and 2 bathrooms. The units offer bright, open living spaces, functional layouts, and natural light. The property's elevated design provides added security. The exterior features a contemporary take on traditional New Orleans architecture, including an upper balcony and front porches. Unit 9002 is currently leased at $1,595 per month, providing immediate rental income. Unit 9000 is vacant and available for a new tenant or owner occupancy. Situated on a generous lot with ample green space, the property offers room for outdoor activities. The property is conveniently located with easy access to major roadways, downtown New Orleans, and local amenities. The property size is 1416 square feet.
Key Highlights
- Income‑producing duplex with one unit currently leased at $1,595/month.
- The second unit is vacant, offering flexibility for owner occupancy or rental income.
- Each unit features 3 bedrooms and 2 bathrooms with bright, open living spaces.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $28.0k | $19.80 |
| − Vacancy | −$2.4k | −$1.71 |
| EGI | $25.6k | $18.09 |
| − OpEx | −$7.7k | −$5.43 |
| NOI | $17.9k | $12.66 |
1,416 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$256.1K
$224.1K – $298.8K
NOI $17,930 @ 7.0% cap · market cap 4.85%
Second Best
Apartment 5plus
$235.4K
$206.0K – $274.7K
NOI $16,481 @ 7.0% cap · market cap 4.45%
Theoretical Best
Office A
$359.9K
$314.9K – $419.9K
NOI $25,193 @ 7.0% cap · market cap 6.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Charming duplex in Hollygrove with immediate rental income.
Where is this duplex located?
The property is located at 9000-02 Edinburgh Street New Orleans, LA.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: Income‑producing duplex with one unit currently leased at $1,595/month.; The second unit is vacant, offering flexibility for owner occupancy or rental income.; Each unit features **3 bedrooms and 2 bathrooms with bright, open living spaces.**
