Duplex with Off-Street
For Sale
$434,900
Pending
940 CONGRESS Street, New Orleans, LA 70117
Multifamily, New Orleans, LA
Property Size1,040 SF
Days on Market44
Property Features for 940 CONGRESS Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2
Parking features
Off Street
Exterior features
Permeable Paving
Elementary school
OPPS
Middle school
OPPS, OPPS
High school
OPPS
Directions
Rampart St - S on Congress, Down on right
Standard status
Pending
APN
70117940CongressST
Size
1,040 SF
Taxes and HOA fees
Tax Description
1. SQ 287 LOT B PT 12 CONGRESS 2. AND N RAMPART 28X75 3. 938-40 CONGRESS ST 4. W/FR DBLE 10/RM C/R
Legal Description
1. SQ 287 LOT B PT 12 CONGRESS 2. AND N RAMPART 28X75 3. 938-40 CONGRESS ST 4. W/FR DBLE 10/RM C/R
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
in-unit laundry
built-in wine rack
marble countertops
stainless steel appliances
high ceilings
wood flooring
Ring doorbell
Building Details
Year built
1922
Number of units
2
Flooring type
Wood
Building materials
Wood Siding
Architectural style
Cottage
Buildings
1
Listing Agency:
Keller Williams Realty Serv.
(985) 727-7000
Listed By:
Gregg B Tepper · License #995700267
(985) 789-8717
Added: Sep 10
Changed: Oct 23
Last Checked: Oct 23 at 5:06PM
MLS# 2576317
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1,040-square-foot duplex in New Orleans was built in 1922 and renovated in 2022. The property has wood flooring, central heating and air conditioning, and off-street parking. The described residence includes two bedrooms and two bathrooms, along with in-unit laundry and a private backyard. Electrical, HVAC, and plumbing systems were updated as part of the renovation.
The property sits on a corner lot in the Bywater neighborhood. Crescent Park, local dining and wine bars, galleries, and the river levee are among the nearby destinations identified in the listing.
The property sits on a corner lot in the Bywater neighborhood. Crescent Park, local dining and wine bars, galleries, and the river levee are among the nearby destinations identified in the listing.
Key Highlights
- 1,040 square feet
- Built in 1922; renovated in 2022
- Two bedrooms and two bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,169
Cap Rate
3.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$263,380
$263.4K
Cap Rate 7%
$188,129
$188.1K
Cap Rate 9%
$146,322
$146.3K
Market Conditions
NOI Build-Up for 1,040 SF
Gross rent
$20.6K $19.80/SF
− Vacancy
−$1.8K −$1.71/SF
EGI
$18.8K $18.09/SF
− OpEx
−$5.6K −$5.43/SF
NOI
$13.2K $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 Rate 5%
$263,380
Cap Rate 7%
$188,129
Cap Rate 9%
$146,322
Alternative Uses
Best Use
Multifamily LT 5
$188.1K
$164.6K – $219.5K
NOI $13,169 @ 7.0% cap · market cap 3.03%
Second Best
Apartment 5plus
$172.9K
$151.3K – $201.7K
NOI $12,104 @ 7.0% cap · market cap 2.78%
Theoretical Best
Office A
$264.3K
$231.3K – $308.4K
NOI $18,503 @ 7.0% cap · market cap 4.25%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,124
Businesses Nearby
Explore this area
Business Placement
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Renovated in 2022, the property has updated electrical, HVAC, and plumbing systems.
Where is this duplex located?
The property is located at 940 CONGRESS Street New Orleans, LA.
What is the asking price?
The asking price for this property is $434,900.
What are key features of this property?
This property features: 1,040 square feet; Built in 1922; renovated in 2022; Two bedrooms and two bathrooms
