Duplex with Furnished
For Sale
$330,000
9113-9115 Palmetto St, New Orleans, LA 70118
An existing Airbnb permit and furnishings in one unit offer flexibility for residential occupancy or rental use.
Property Size1,900 SF
Price / SF$173.68
Days on Market10
Property Features for 9113-9115 Palmetto St
General Information
Standard status
Active
Size
1,900 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1928
Listing Agency:
Boyd Realtors, LLC
(504) 533-8701
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Sep 28
Changed: Oct 7
Last Checked: Oct 7 at 11:48AM
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 Boyd Realtors, LLC
Investment Insights
Based on property information with market context.
This 1,900-square-foot duplex was built in 1928 and has an Airbnb permit. One side is furnished, with its furniture and appliances included in the sale. The two-unit configuration supports separate occupancy or rental of the property as a whole.
The property is a short drive from Downtown New Orleans and has access to restaurants, colleges, and shopping centers.
The property is a short drive from Downtown New Orleans and has access to restaurants, colleges, and shopping centers.
Key Highlights
- 1,900‑square‑foot duplex built in 1928
- Airbnb permit already obtained
- Furniture and appliances included for one furnished side
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,059
Cap Rate
7.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$481,180
$481.2K
Cap Rate 7%
$343,700
$343.7K
Cap Rate 9%
$267,322
$267.3K
Market Conditions
NOI Build-Up for 1,900 SF
Gross rent
$37.6K $19.80/SF
− Vacancy
−$3.3K −$1.71/SF
EGI
$34.4K $18.09/SF
− OpEx
−$10.3K −$5.43/SF
NOI
$24.1K $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 Rate 5%
$481,180
Cap Rate 7%
$343,700
Cap Rate 9%
$267,322
Alternative Uses
Best Use
Multifamily LT 5
$343.7K
$300.7K – $401.0K
NOI $24,059 @ 7.0% cap · market cap 7.29%
Second Best
Apartment 5plus
$315.9K
$276.4K – $368.6K
NOI $22,114 @ 7.0% cap · market cap 6.70%
Theoretical Best
Office A
$482.9K
$422.6K – $563.4K
NOI $33,804 @ 7.0% cap · market cap 10.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
504
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 - An existing Airbnb permit and furnishings in one unit offer flexibility for residential occupancy or rental use.
Where is this duplex located?
The property is located at 9113-9115 Palmetto St New Orleans, LA.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: 1,900‑square‑foot duplex built in 1928; Airbnb permit already obtained; Furniture and appliances included for one furnished side
