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    318 S Welty St Iowa, LA 70647

    View on Map
    Sponsored
    For Sale
    Under Contract
    $229,000

    Triplex - Iowa, LA

    Type:Triplex
    Property size:
    1,560 SF
    Days on Market:
    4
    Last Refresh:
    Mar 20 at 3:06 am

    Property Features for 318 S Welty St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Triplex
    Standard status
    Active Under Contract
    APN
    00722553
    Exterior features
    Corner Lot
    Size
    1,560 SF

    Utilities

    Heating system
    Central
    Cooling system
    Central Air, Multi Units, Wall/Window Unit(s), Window Unit(s)

    Building Details

    Year built
    1970
    Floors in Building
    1
    Architectural style
    Other

    We can help!

    Listing Contact
    Melissa Doga
    Melissa Doga

    eXp Realty, LLC (337) 526-9330

    Listing agent Melissa Doga (337) 522-7554 License #0000077854

    Listing date Mar 17, 2026

    MLS# 3033 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Iowa Triplex with Investment Potential

    This property presents an investment opportunity with a four-bedroom home, a triplex, and an RV pad with hook-ups, all situated on a corner lot. The location offers convenient access to schools and shopping. The main house, featuring 1560 square feet of living space, includes four bedrooms, two baths, and ample storage. The living room is equipped with a gas fireplace and functional shelving. Recent updates to the house include new flooring, paint, and light fixtures, and all major appliances are included in the sale. The triplex contains three rental units. Apartment A is a one-bedroom, one-bath unit with 663 square feet of living space, a large kitchen with custom cabinets, a jacuzzi tub, central AC/Heat, a dishwasher, a microwave, and a washer/dryer. The refrigerator remains. Apartment B is a spacious two-bedroom, one-bath unit with 875 square feet of living space, a large kitchen, ample storage, and vinyl and hardwood flooring in the living room, dining room, and hall. The refrigerator remains, and there are three window units. Apartment C is a one-bedroom, one-bath unit with 530 square feet of living space, vinyl plank flooring, and wood tile. One window unit is included, and extra vinyl flooring and ceiling tile for the kitchen and living room will sell with the property. The triplex is on one water meter, which the owner pays. Gas and electricity are the tenant's responsibility. All utilities for the house are the tenant's responsibility.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Iowa
    County
    Calcasieu
    State
    Louisiana
    Longitude
    -93.00953
    Latitude
    30.234785

    Nearby Similar for Sale

    • $119,000
      0.37 Acres

      Updated Duplex in Iowa

      Updated duplex with leased units and expansion potential.
      408 S Knapp St, Iowa, LA 70647
      View Details

    FAQs

    What type of property is this?
    Triplex - Four-bedroom home, triplex, and RV pad on a corner lot.
    Where is this triplex located?
    The property is located at 318 S Welty St Iowa, LA.
    What is the asking price?
    The asking price for this property is $229,000.
    What are key features of this property?
    This property features: - Investment opportunity: Includes a 4-bedroom house, a triplex, and an RV pad with hook-ups, offering multiple income streams.; - Convenient location: Corner lot property close to schools and shopping.; - Main house features: **4 bedrooms, 2 baths, 1560 sq ft, gas fireplace, new flooring, paint, light fixtures, and all major appliances included.**
    (337) 377-9021
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    318 S Welty St Iowa, LA 70647
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    Iowa, LA 70647
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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
    318 S Welty St Iowa, LA 70647
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    We can help!
    Listing Contact
    Melissa Doga
    Melissa Doga
    Real Estate License ID: 0000077854
    (337) 377-9021 (337) 522-7554
    Learn more
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