Duplex with Off-Street
For Sale
$375,000
920 LAFAYETTE Street, Gretna, LA 70053
Multi-Family, Shot Gun, Gretna, LA
Property Size1,988 SF
Lot Size0.14 Acres
Price / SF$188.63
Days on Market47
Property Features for 920 LAFAYETTE Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Off Street
Patio and Porch features
Porch
Exterior features
Fence, Porch
Fencing
Fenced
Lot features
Regular
Subdivision
Old Gretna
Standard status
Active
APN
0100004916
Size
1,988 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Description
LOTS E & F SQ 18 GRETNA SUB
Legal Description
LOTS E & F SQ 18 GRETNA SUB
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
Separate utilities
central HVAC systems
soaring ceilings
abundant natural light
rear parking lot
Building Details
Year built
1920
Floors in Building
1
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
McEnery Residential, LLC
(504) 605-4400
Listed By:
Suzanne Brown
(228) 806-9096
Added: Jul 8
Changed: Aug 19
Last Checked: Aug 23 at 4:06AM
MLS# 2566759
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,988-square-foot duplex, built in 1920, is arranged in a shotgun-style configuration with two separate units. Each side includes a full kitchen, laundry room, full bathroom, central HVAC, and multiple exterior access points. Separate utilities support independent operation, while a porch, fencing, shingle roof, and public water service are also in place.
The property occupies 0.1377 acres at 920 Lafayette Street in Gretna, with a rear parking area providing direct access to Lafayette Street. C-1 Neighborhood Commercial zoning supports retail goods and select community-serving services within the district. The setting includes nearby shops, cafes, restaurants, community events, downtown Gretna's business district, the Westbank Expressway, and downtown New Orleans.
The property occupies 0.1377 acres at 920 Lafayette Street in Gretna, with a rear parking area providing direct access to Lafayette Street. C-1 Neighborhood Commercial zoning supports retail goods and select community-serving services within the district. The setting includes nearby shops, cafes, restaurants, community events, downtown Gretna's business district, the Westbank Expressway, and downtown New Orleans.
Key Highlights
- 1,988‑square‑foot duplex on a 0.1377‑acre lot
- Two units, each with a full kitchen, laundry room, and full bathroom
- Separate utilities and central HVAC systems
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
$21,817
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
5.82%
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%
$436,340
$436.3K
Cap Rate 7%
$311,671
$311.7K
Cap Rate 9%
$242,411
$242.4K
Market Conditions
NOI Build-Up for 1,988 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
$34.1K $17.16/SF
− Vacancy
−$2.9K −$1.48/SF
EGI
$31.2K $15.68/SF
− OpEx
−$9.3K −$4.70/SF
NOI
$21.8K $10.97/SF
Area
Jefferson County, LA
Vacancy
8.64%
Lease Rate
$17.16 /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%
$436,340
Cap Rate 7%
$311,671
Cap Rate 9%
$242,411
Alternative Uses
Best Use
Multifamily LT 5
$311.7K
$272.7K – $363.6K
NOI $21,817 @ 7.0% cap · market cap 5.82%
Second Best
Apartment 5plus
$291.4K
$254.9K – $339.9K
NOI $20,395 @ 7.0% cap · market cap 5.44%
Theoretical Best
Office A
$524.5K
$458.9K – $611.9K
NOI $36,714 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,406
Businesses Nearby
Explore this area
Business Placement
Demographics for 70053, LA
16,509
Population
7,865
Households
2.1
Avg Household Size
39
Median Age
24%
College-Educated
75%
High-School Grad
3.4 sq mi
ZIP Area
4,856
Density / Sq Mi
$43,786
Median Household Income
$31,667
Median Earnings
$1,017
Median Rent
$225,700
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 separately serviced units include kitchens, laundry rooms, and full bathrooms.
Where is this duplex located?
The property is located at 920 LAFAYETTE Street Gretna, LA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 1,988‑square‑foot duplex on a 0.1377‑acre lot; Two units, each with a full kitchen, laundry room, and full bathroom; Separate utilities and central HVAC systems
