938 N GAYOSO Street, New Orleans, LA 70119
- Added:
- Mar 24, 2026
- Days on Market:
- 81
- Last Refresh:
- Jun 12 at 9:06 am
Property Features for 938 N GAYOSO Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- Off Street
- Patio and Porch features
- Patio
- Exterior features
- Courtyard, Fence, Outdoor Entertainment Area Beyond Your Average Patio
- Fencing
- Fenced
- Standard status
- Pending
- APN
- 207201306
- Size
- 1,496 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Description
- SQ 388 LOT 6 PT 7 N GAYOSO & 2926 ST PHILIP 18X67X105
Utilities
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1890
- Floors in Building
- 1
- Number of units
- 2
- Roof type
- Shingle, Asphalt
- Architectural style
- Other
Listing agent Michael Humphrey License #995707327 (337) 522-7554
Listing office eXp Realty, LLC 650 Poydras St, New Orleans, LA (337) 522-7554
Listing date Mar 24, 2026
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.
HighLights
- Own two separate single shotgun homes on one oversized lot in historic Bayou St. John
- Recent improvements include Fortified Roofs and completed foundation work on both homes
- Central heat and central air; asphalt shingle roofing
- Generous outdoor space with fenced yard, courtyard, covered patio area, and mature cypress and banana trees
- Detached shed with recent sheetrock and electrical upgrades for storage, workshop, or creative use
- Off‑street parking and public water source
Overview
The homes are located just blocks from Bayou St. John and the Fairgrounds, with convenient access to the French Quarter, Downtown, and Uptown. An ideal combination of neighborhood character and practical connectivity, the setting supports strong long-term appeal for renters and buyers seeking a residential income property with outdoor space.
With two separate units, this duplex format can fit a range of strategies, from long-term rental income to living in one home while generating revenue from the other. The outdoor amenities and updated shed add functional value beyond the structures themselves, while the recent roof and foundation work help reduce near-term deferred maintenance concerns. For buyers looking for a rare two-home setup within a desirable New Orleans pocket, this property is worth a serious look.
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 | $29.6k | $19.80 |
| − Vacancy | −$2.6k | −$1.71 |
| EGI | $27.1k | $18.09 |
| − OpEx | −$8.1k | −$5.43 |
| NOI | $18.9k | $12.66 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- New Orleans
- County
- Jefferson
- State
- Louisiana
- Longitude
- -90.083837
- Latitude
- 29.974773
