Two-Unit Creole
For Sale
$650,000
Pending
939 SEVENTH Street, New Orleans, LA 70115
Two separately accessed residences each offer two bedrooms, two full baths, and a private brick patio.
Property Size2,210 SF
Days on Market49
Property Features for 939 SEVENTH Street
General Information
Standard status
Pending
Size
2,210 SF
Property subtype
Duplex
Site & Location
Neighborhood
Garden District
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Building Details
Building Size
2,210 SF
Year Built
1830
Buildings
1
Construction
Creole Cottage
Listing Agency:
Engel & Völkers New Orleans
Listed By:
Sophie Brunner · License #995685154
(504) 616-1771
Source:
Ewbank.kw
Added: Sep 14
Changed: Oct 31
Last Checked: Sep 30 at 8:41AM
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 Engel & Völkers New Orleans
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Investment Insights
Based on property information with market context.
This duplex comprises two private residences, each with two bedrooms, two full baths, and a separate entrance. The larger unit features exposed brick, original casement windows, a renovated kitchen with an island and granite countertops, and a loft bedroom. The second residence has refinished wood floors, an exposed-brick ensuite bedroom, and a light-filled loft bedroom. Both units have private brick patios; the larger also includes a courtyard with a built-in grill and access to a street-accessible garage with electricity and AC.
Built in 1830, the brick-and-stucco property occupies a corner at Seventh and Constance streets, near Magazine Street. The roof dates to 2020, and the property is in an X flood zone.
Built in 1830, the brick-and-stucco property occupies a corner at Seventh and Constance streets, near Magazine Street. The roof dates to 2020, and the property is in an X flood zone.
Key Highlights
- Two residences, each with 2 bedrooms and 2 full baths
- Separate entrances on opposite sides of the property
- Private brick patio for each unit; larger residence also has a courtyard with built‑in grill
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,995
Cap Rate
2.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$379,900
$379.9K
Cap Rate 7%
$271,357
$271.4K
Cap Rate 9%
$211,056
$211.1K
Market Conditions
NOI Build-Up for 2,210 SF
Gross rent
$29.7K $13.44/SF
− Vacancy
−$2.6K −$1.16/SF
EGI
$27.1K $12.28/SF
− OpEx
−$8.1K −$3.68/SF
NOI
$19.0K $8.60/SF
Area
ZIP 70115
Vacancy
8.64%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$379,900
Cap Rate 7%
$271,357
Cap Rate 9%
$211,056
Alternative Uses
Best Use
Multifamily LT 5
$271.4K
$237.4K – $316.6K
NOI $18,995 @ 7.0% cap · market cap 2.92%
Second Best
Apartment 5plus
$240.6K
$210.5K – $280.7K
NOI $16,839 @ 7.0% cap · market cap 2.59%
Theoretical Best
Office A
$583.1K
$510.2K – $680.2K
NOI $40,814 @ 7.0% cap · market cap 6.28%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,656
Businesses Nearby
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Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two separately accessed residences each offer two bedrooms, two full baths, and a private brick patio.
Where is this duplex located?
The property is located at 939 SEVENTH Street New Orleans, LA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 2 full baths; Separate entrances on opposite sides of the property; Private brick patio for each unit; larger residence also has a courtyard with built‑in grill
