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Updated over 4 years ago,
Duplex New Construction in New Orleans
Hi guys, an opportunity recently presented itself to buy a 40x60 lot for $10k behind a rental property I own by the Musicians' Village in the St. Claude neighborhood of New Orleans. I am debating between building a SFH or small duplex preferably to hold as a rental. I'm struggling to find plan ideas that would fit on the lot and work locally. Is there a good resource that anyone can recommend? I'm also looking for a build cost that would make the numbers work. Current sales prices per sq ft are around $110 in this neighborhood. Given, I'm unlikely to build for much less than this (I've seen anywhere from $90-130+), perhaps my best bet is to buy the land and hold it? I've only been a buy and hold investor for existing SFHs and duplexes in NOLA so new construction is new to me but something I've always been interested in pursuing. All suggestions and advice of what I need to consider would be greatly appreciated! Thank you so much!