Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    201 Alex St Lafayette, LA 70506

    Sponsored
    For Sale
    $119,900

    Multi Family - Lafayette, LA

    Type:Multi Family
    Property size:
    1,554 SF
    Days on Market:
    42
    Last Refresh:
    Jan 22 at 8:06 pm

    Property Features for 201 Alex St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Multi Family
    Standard status
    Active
    Parking
    5
    Parking features
    Garage
    Patio and Porch features
    Patio, Porch, Deck
    Interior features
    Ceiling Fans, Fiber Ready, Individual Meter, Electric Dryer Connection, Electric Washer Connection, Window Treatments
    Exterior features
    Outside Light, Porch, Fence, Porch/Patio/Deck
    Fencing
    Fenced
    Appliances
    Range, Range - Gas, Refrigerator
    Size
    1,554 SF

    Utilities

    Utilities
    Electricity Available
    Heating system
    Electric (Heating), Natural Gas, Other (Heating)
    Cooling system
    Ceiling Fan(s), Multi Units, Window Unit(s)

    Building Details

    Number of units
    2
    Flooring type
    Carpet, Vinyl, Wood
    Building materials
    Asbestos
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Jay Smith

    Gateway Realty, Inc. (337) 962-6430 [email protected]

    Listing agent Jay Smith (337) 981-4595

    Listing date Dec 12, 2025

    MLS# 24010751 Listing URL

    Copyright © 2026 Realtor Association of Acadiana. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Lafayette Multi-Family Cottage with Apartment

    This property features a cottage with a rear garage apartment, situated in a quiet neighborhood with convenient access to Ambassador Caffery, Congress Street, and the Cajun Field complex. The main house includes two bedrooms and one bathroom, along with a large eat-in kitchen equipped with a range oven, refrigerator, and a small pantry. The home is equipped with three window heat/cool units and a large wall heater. Flooring consists of carpet in the living room, vinyl in the kitchen and bathroom, and wood floors in the bedrooms. Both the house and the garage apartment are currently leased, with the house renting for $800 and the garage apartment for $450. The property offers a potential investment opportunity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lafayette
    County
    Lafayette
    State
    Louisiana
    Longitude
    -92.057202
    Latitude
    30.230749

    Nearby Similar for Sale

    • $995,000
      2,200 SF

      Prime Retail Landmark on Johnston

      22,000 SF retail property on Lafayette's premier commercial artery.
      2015 Johnston St, Lafayette, LA 70503
      View Details
    • $359,000
      3,700 SF

      Lafayette Triplex Investment Opportunity

      Three-unit multifamily property in central Lafayette, currently rented.
      204 Carl St, Lafayette, LA 70506
      View Details
    • $1,250,000
      30,680 SF

      Lafayette Income-Producing Properties Package

      Package of 14 income-producing properties across Lafayette, Sunset, and Opelousas.
      305 Thelma Dr, Lafayette, LA 70506
      View Details
    • New
      $1,300,000
      8,816 SF

      Lafayette Office Building with Income

      Professional office property in Lafayette with optional income potential.
      114 Representative Row, Lafayette, LA 70508
      View Details
    • $597,500
      3,510 SF

      Downtown Lafayette Corner Opportunity

      Three properties on a bustling corner, endless potential uses.
      712 W Congress St, Lafayette, LA 70501
      View Details
    • $485,000
      6,720 SF

      Downtown Lafayette Restaurant Opportunity

      Renovated restaurant with development potential in downtown Lafayette.
      537 Jefferson St, Lafayette, LA 70501
      View Details
    • $237,000
      1,791 SF

      Renovated Duplex with Mixed-Use Zoning

      Centrally located, renovated duplex with short-term rental potential.
      301 S Pierce St, Lafayette, LA 70501
      View Details
    • New
      $460,000
      3,700 SF

      Established Automotive Business Opportunity

      Successful automotive business with property and equipment for sale.
      401 8Th St, Lafayette, LA 70501
      View Details
    • $300,000
      2.95 Acres

      Unique Greenhouse on Spacious Land

      Three-acre lot featuring a Grand Palais-inspired greenhouse.
      4834 Moss Street Ext, Lafayette, LA 70507
      View Details
    • $425,000
      2,471 SF

      Lafayette Office/Professional Opportunity

      Versatile commercial property suitable for office, community, or educational purposes.
      3000 W Pinhook Rd, Lafayette, LA 70508
      View Details
    • $199,000
      1,092 SF

      Turnkey Restaurant with Drive-Thru

      Equipped restaurant with drive-thru, ready for immediate operation.
      710 Huval St, Lafayette, LA 70506
      View Details
    • $1,450,000
      4,917 SF

      Lafayette Office/Retail Building For Sale

      Upscale office and retail building in a prime Lafayette location.
      4503 Johnston St, Lafayette, LA 70503
      View Details

    FAQs

    What type of property is this?
    Duplex - Cottage with garage apartment in convenient Lafayette location.
    Where is this duplex located?
    The property is located at 201 Alex St Lafayette, LA.
    What is the asking price?
    The asking price for this property is $119,900.
    What are key features of this property?
    This property features: - Income-producing property: Main house and garage apartment are currently leased for a combined $1250/month.; - Convenient location: Close proximity to Ambassador Caffery, Congress St, and the Cajun Field complex.; - Garage apartment provides additional rental income or living space.
    (337) 962-6430
    Request Owner's contact information
    201 Alex St Lafayette, LA 70506
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    201 Alex St
    Lafayette, LA 70506
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    201 Alex St Lafayette, LA 70506
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jay Smith
    (337) 962-6430
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.