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    The Largest CRE Database in the US with Over 1 Million Listings

    305 Thelma Dr Lafayette, LA 70506

    Sponsored
    For Sale
    $1,250,000

    Package Homes - Lafayette, LA

    Property size:
    30,680 SF
    Days on Market:
    418
    Last Refresh:
    Jan 26 at 9:06 pm

    Property Features for 305 Thelma Dr

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Dining Room
    Parking
    28
    Parking features
    Carport, Covered
    Patio and Porch features
    Patio, Porch, Deck
    Interior features
    Cable Available, Cable Ready, Ceiling Fans, Fiber Available
    Exterior features
    Outside Light, Porch, Fence, Sheds(s), Storage, Porch/Patio/Deck
    Fencing
    Fenced
    Appliances
    Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer
    Size
    30,680 SF

    Utilities

    Utilities
    Cable Available, Cable Connected
    Heating system
    Central, Electric (Heating), Natural Gas, Other (Heating)
    Cooling system
    Ceiling Fan(s), Central Air, Multi Units, Window Unit(s)

    Building Details

    Floors in Building
    1
    Number of units
    14
    Building materials
    Brick
    Roof type
    Composition, Metal
    Architectural style
    Other
    Additional Structures
    Packing Shed, Shed(s), Storage

    We can help!

    Listing Contact
    Teresa Rainey

    Real Broker, LLC (855) 450-0442

    Listing agent Teresa Rainey (337) 534-0555

    Listing date Dec 5, 2024

    MLS# 24010191 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 Income-Producing Properties Package

    This is an opportunity to expand or start an investment portfolio with a package of 14 income-producing properties located across Lafayette, Sunset, and Opelousas. These properties generate $13,465 per month in rental income. Many of the homes have been updated and refreshed. The properties are conveniently located near each other in each area. The total property size is 30,680 square feet. The seller is open to package or individual sales. All properties are tenant-occupied, and offers must include proof of funds and require a 48-hour notice for showings.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Lafayette
    County
    Lafayette
    State
    Louisiana
    Longitude
    -92.050928
    Latitude
    30.229636

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    FAQs

    What type of property is this?
    Multifamily property - Package of 14 income-producing properties across Lafayette, Sunset, and Opelousas.
    Where is this multifamily property located?
    The property is located at 305 Thelma Dr Lafayette, LA.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: - Package of 14 income-producing properties generating $13,465/month.; - Properties located in Lafayette, Sunset, and Opelousas.; - Many homes have been updated and refreshed.
    (855) 450-0442
    Request Owner's contact information
    305 Thelma Dr Lafayette, LA 70506
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    Lafayette, LA 70506
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    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
    305 Thelma Dr Lafayette, LA 70506
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    We can help!
    Listing Contact
    Teresa Rainey
    (855) 450-0442
    Learn more
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