Modern Duplex with Off-Street
For Sale
$649,900
916 & 918 Teche St, New Orleans, LA 70131
Two separate residences offer flexible owner-occupant, multigenerational, or rental configurations in New Orleans’ Algiers Historic District.
Property Size2,860 SF
Price / SF$227.24
Days on Market21
Property Features for 916 & 918 Teche St
General Information
Standard status
Active
Size
2,860 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 4BR/2.5BA, 1 x 3BR/3BA
Multifamily Units
2
Building Details
Year Built
2023
Listing Agency:
CBTEC BELLE CHASSE
Listed By:
Bonnie Buras · License #000052386
(504) 355-0560
Source:
Dominionplace
Added: Aug 13
Changed: Aug 30
Last Checked: Sep 1 at 9:29PM
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 CBTEC BELLE CHASSE
Investment Insights
Based on property information with market context.
Built in 2023, this duplex contains two separately configured residences with open-concept living areas, contemporary kitchens, and off-street parking. The lower unit at 916 Teche Street includes four bedrooms, two and a half bathrooms, coffered ceilings, 11-foot ceilings, a quartz-counter kitchen with custom cabinetry, a large island, walk-in pantry, and included appliances. A concrete patio extends the lower unit’s living area outdoors.
The upper residence at 918 Teche Street provides three bedrooms, each with a full bathroom, along with an open kitchen, comparable high-end finishes and appliances, and a private balcony. Both units feature luxury vinyl wood plank flooring, double-hung windows, and solid wood entry doors. The property is in the Algiers Historic District, minutes from the CBD, and located in an X flood zone.
The upper residence at 918 Teche Street provides three bedrooms, each with a full bathroom, along with an open kitchen, comparable high-end finishes and appliances, and a private balcony. Both units feature luxury vinyl wood plank flooring, double-hung windows, and solid wood entry doors. The property is in the Algiers Historic District, minutes from the CBD, and located in an X flood zone.
Key Highlights
- Two‑unit duplex at 916 & 918 Teche Street
- Built in 2023 with off‑street parking
- Lower residence offers 4 bedrooms and 2.5 bathrooms
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
$36,215
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
5.57%
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%
$724,300
$724.3K
Cap Rate 7%
$517,357
$517.4K
Cap Rate 9%
$402,389
$402.4K
Market Conditions
NOI Build-Up for 2,860 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
$56.6K $19.80/SF
− Vacancy
−$4.9K −$1.71/SF
EGI
$51.7K $18.09/SF
− OpEx
−$15.5K −$5.43/SF
NOI
$36.2K $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%
$724,300
Cap Rate 7%
$517,357
Cap Rate 9%
$402,389
Alternative Uses
Best Use
Multifamily LT 5
$517.4K
$452.7K – $603.6K
NOI $36,215 @ 7.0% cap · market cap 5.57%
Second Best
Apartment 5plus
$475.5K
$416.1K – $554.8K
NOI $33,287 @ 7.0% cap · market cap 5.12%
Theoretical Best
Office A
$726.9K
$636.1K – $848.1K
NOI $50,884 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
587
Businesses Nearby
Explore this area
Business Placement
Demographics for 70131, LA
27,473
Population
12,070
Households
2.3
Avg Household Size
38
Median Age
36%
College-Educated
92%
High-School Grad
11.7 sq mi
ZIP Area
2,348
Density / Sq Mi
$64,294
Median Household Income
$45,347
Median Earnings
$1,057
Median Rent
$236,200
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 offer flexible owner-occupant, multigenerational, or rental configurations in New Orleans’ Algiers Historic District.
Where is this duplex located?
The property is located at 916 & 918 Teche St New Orleans, LA.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Two‑unit duplex at 916 & 918 Teche Street; Built in 2023 with off‑street parking; Lower residence offers 4 bedrooms and 2.5 bathrooms
