Duplex with Covered
For Sale
$160,000
3251/3255 Cedar Street, Lake Charles, LA 70615
Residential Income, Lake Charles, LA
Property Size1,732 SF
Lot Size0.33 Acres
Price / SF$92.38
Days on Market77
Property Features for 3251/3255 Cedar Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Laundry Room
Parking
2
Interior features
Bathtub, Ceiling Fan(s), No Carpet, Shower in Tub, Storage, Unfurnished
Subdivision
PINE HILLS
Lot features
Back Yard, 0-1 Unit/ Acre, Front Yard, Lawn, Rectangular Lot
Directions
From I-10, N on HWY 171, R on HWY 3059, R on Forest Ave, L on Cedar St and duplexes will be on the R
Standard status
Active
APN
00084077
Size
1,732 SF
Lot size
0.33 Acres
Utilities
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
detached exterior washer/dryer and storage space
Building Details
Year built
1975
Floors in Building
1
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
Coldwell Banker Ingle Safari R · Coldwell Banker Real Estate
(337) 478-1601
Listed By:
Steve Floyd · License #41445
(337) 274-5684
Added: Jul 9
Changed: Sep 13
Last Checked: Sep 23 at 5:06PM
MLS# 3727
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.
Located at 3251/3255 Cedar Street in Lake Charles, this 1,732-square-foot duplex was built in 1975 and contains two residences of approximately 866 square feet each. Both units provide two bedrooms and one bathroom, with practical layouts, window-based heating and cooling, and covered vehicle parking. The property also includes a detached area for laundry and storage.
The approximately 0.33-acre site carries Mixed Residential zoning and is in Flood Zone X. Public water serves the property. A shingle roof installed less than five years ago adds a recent improvement, while interior features include ceiling fans, bathtubs, tub-and-shower combinations, and no carpet. The property is located in Lake Charles, Louisiana, within ZIP Code 70615.
The approximately 0.33-acre site carries Mixed Residential zoning and is in Flood Zone X. Public water serves the property. A shingle roof installed less than five years ago adds a recent improvement, while interior features include ceiling fans, bathtubs, tub-and-shower combinations, and no carpet. The property is located in Lake Charles, Louisiana, within ZIP Code 70615.
Key Highlights
- 1,732‑square‑foot duplex on approximately .33 acres
- Two units, each with 2 bedrooms, 1 bathroom, and approximately 866 square feet
- Mixed Residential zoning and Flood Zone X designation
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
$11,439
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
7.15%
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%
$228,780
$228.8K
Cap Rate 7%
$163,414
$163.4K
Cap Rate 9%
$127,100
$127.1K
Market Conditions
NOI Build-Up for 1,732 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
$17.7K $10.20/SF
− Vacancy
−$1.3K −$0.77/SF
EGI
$16.3K $9.44/SF
− OpEx
−$4.9K −$2.83/SF
NOI
$11.4K $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%
$228,780
Cap Rate 7%
$163,414
Cap Rate 9%
$127,100
Alternative Uses
Best Use
Multifamily LT 5
$163.4K
$143.0K – $190.7K
NOI $11,439 @ 7.0% cap · market cap 7.15%
Second Best
Apartment 5plus
$144.6K
$126.5K – $168.7K
NOI $10,121 @ 7.0% cap · market cap 6.33%
Theoretical Best
Specialty Retail
$373.3K
$326.7K – $435.6K
NOI $26,133 @ 7.0% cap · market cap 16.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
34
Businesses Nearby
Explore this area
Business Placement
Demographics for 70615, LA
14,949
Population
5,498
Households
2.7
Avg Household Size
36
Median Age
15%
College-Educated
84%
High-School Grad
45.9 sq mi
ZIP Area
326
Density / Sq Mi
$43,333
Median Household Income
$30,086
Median Earnings
$1,095
Median Rent
$128,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom units, detached laundry and storage space, and mixed-residential zoning define this income property.
Where is this duplex located?
The property is located at 3251/3255 Cedar Street Lake Charles, LA.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: 1,732‑square‑foot duplex on approximately .33 acres; Two units, each with 2 bedrooms, 1 bathroom, and approximately 866 square feet; Mixed Residential zoning and Flood Zone X designation
