Remodeled Duplex with New
For Sale
$114,900
1920 Evans St Street, Lake Charles, LA 70601
APARTMENT - Lake Charles, LA
Property Size1,539 SF
Lot Size0.10 Acres
Price / SF$74.66
Days on Market14
Property Features for 1920 Evans St Street
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Bedroom 2, Bathroom 2, Bedroom 1
Subdivision
MONTICELLO SUB
Lot features
Regular Lot
Directions
From I-10 Eastbound, take exit 31B, South on Goos, East on Evans, property is about 3/4 of the way down.
Standard status
Active
APN
00611891
Size
1,539 SF
Lot size
0.10 Acres
Utilities
Sewer type
Public Sewer
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1991
Floors in Building
1
Listing Agency:
Coldwell Banker Ingle Safari R · Coldwell Banker Real Estate
(337) 478-1601
Listed By:
Tyson Letlow · License #FA100080924
(337) 478-1601
Added: Jul 26
Last Checked: Aug 8 at 3:06PM
MLS# 6169
Copyright © 2026 Southwest Louisiana 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 newly remodeled duplex features a brand-new roof and fully updated interiors in both units. Each unit is currently occupied with annual leases in place, providing immediate rental income. The property is configured as a two-unit residential income building and has been finished with modern updates throughout both interiors.
The duplex is located at 1920 Evans St Street in Lake Charles, Louisiana, in Calcasieu Parish. According to FEMA Flood Maps, the property is in flood zone X.
With both units leased and updated, the building offers a turnkey, income-producing structure for investors looking to acquire a two-unit rental asset with existing tenancy.
The duplex is located at 1920 Evans St Street in Lake Charles, Louisiana, in Calcasieu Parish. According to FEMA Flood Maps, the property is in flood zone X.
With both units leased and updated, the building offers a turnkey, income-producing structure for investors looking to acquire a two-unit rental asset with existing tenancy.
Key Highlights
- Newly remodeled duplex with fully updated interiors in both units
- Brand‑new roof
- Both units currently occupied with annual leases in place
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
$10,164
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
8.85%
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%
$203,280
$203.3K
Cap Rate 7%
$145,200
$145.2K
Cap Rate 9%
$112,933
$112.9K
Market Conditions
NOI Build-Up for 1,539 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
$15.7K $10.20/SF
− Vacancy
−$1.2K −$0.77/SF
EGI
$14.5K $9.44/SF
− OpEx
−$4.4K −$2.83/SF
NOI
$10.2K $6.60/SF
Area
Calcasieu County, LA
Vacancy
7.50%
Lease Rate
$10.20 /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%
$203,280
Cap Rate 7%
$145,200
Cap Rate 9%
$112,933
Alternative Uses
Best Use
Multifamily LT 5
$145.2K
$127.1K – $169.4K
NOI $10,164 @ 7.0% cap · market cap 8.85%
Second Best
Apartment 5plus
$128.5K
$112.4K – $149.9K
NOI $8,993 @ 7.0% cap · market cap 7.83%
Theoretical Best
Specialty Retail
$331.7K
$290.3K – $387.0K
NOI $23,221 @ 7.0% cap · market cap 20.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
419
Businesses Nearby
Explore this area
Business Placement
Demographics for 70601, LA
34,571
Population
16,811
Households
2.1
Avg Household Size
38
Median Age
25%
College-Educated
87%
High-School Grad
16.1 sq mi
ZIP Area
2,147
Density / Sq Mi
$49,545
Median Household Income
$34,044
Median Earnings
$938
Median Rent
$164,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Newly remodeled duplex with a brand-new roof and updated interiors, with both units leased on annual terms.
Where is this duplex located?
The property is located at 1920 Evans St Street Lake Charles, LA.
What is the asking price?
The asking price for this property is $114,900.
What are key features of this property?
This property features: Newly remodeled duplex with fully updated interiors in both units; Brand‑new roof; Both units currently occupied with annual leases in place
