Immaculately Remodeled
For Sale
$140,000
400 S Granger Street, Erath, LA 70533
MULTI_FAMILY - Erath, LA
Property Size1,230 SF
Price / SF$113.82
Days on Market171
Property Features for 400 S Granger Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 4, Bedroom 3
Parking
4
Patio and Porch features
Porch, Deck
Interior features
Electric Dryer Connection, Electric Stove Connection, Electric Washer Connection
Exterior features
Lighting, Deck, Outside Light, Porch
Appliances
Electric Cooktop
Lot features
No Outlet Street
Elementary school
Dozier
Middle school
E Broussard
High school
Erath
Elementary school district
Vermillion Parish
Middle school district
Vermillion Parish
High school district
Vermillion Parish
Directions
From Hwy 14, turn South on S Kibbe, turn right on W Primeaux, turn right on S Granger
Subdivision
V4
Standard status
Active
APN
Re091800
Size
1,230 SF
Taxes and HOA fees
Tax Description
LOT BD N MATTHEW GREENE, E BY STREET, S CONGREGATIONAL CHURCH & W BY STREET 2021006007 IMP
Legal Description
LOT BD N MATTHEW GREENE, E BY STREET, S CONGREGATIONAL CHURCH & W BY STREET 2021006007 IMP
Utilities
Cooling system
Window Unit(s)
Water source
Public
Building Details
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Building materials
HardiPlank Type
Roof type
Metal
Listing Agency:
Carter Roy Real Estate Group
(337) 465-9615
Listed By:
Shawn P Carter · License #995709983
(337) 789-3037
Added: Mar 12
Changed: Jul 25
Last Checked: Aug 29 at 2:06PM
MLS# 2600001982
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.
Investment Insights
Based on property information with market context.
This remodeled duplex offers two separate units, with each home configured as two bedrooms and one bathroom. The property has been upgraded throughout, including brand new flooring and fresh interior paint, along with granite countertops in the kitchens and modern fixtures.
The duplex is located at 400 S Granger Street in Erath, Louisiana, within Vermilion Parish.
Both units are currently occupied, supporting an existing monthly rental income of $1,585 per month per the seller’s remarks. The seller also indicates potential consideration of a “subject-to” loan with approved terms from all parties.
The duplex is located at 400 S Granger Street in Erath, Louisiana, within Vermilion Parish.
Both units are currently occupied, supporting an existing monthly rental income of $1,585 per month per the seller’s remarks. The seller also indicates potential consideration of a “subject-to” loan with approved terms from all parties.
Key Highlights
- Remodeled duplex in Erath with two separate units, each featuring 2 bedrooms and 1 bathroom
- Both units are currently occupied for total income of $1,585 per month
- Updates include new flooring, fresh paint, and granite countertops in the kitchen
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
$11,504
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
8.22%
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%
$230,080
$230.1K
Cap Rate 7%
$164,343
$164.3K
Cap Rate 9%
$127,822
$127.8K
Market Conditions
NOI Build-Up for 1,230 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
$22.0K $17.88/SF
− Vacancy
−$5.6K −$4.52/SF
EGI
$16.4K $13.36/SF
− OpEx
−$4.9K −$4.01/SF
NOI
$11.5K $9.35/SF
Area
Vermilion County, LA
Vacancy
25.27%
Lease Rate
$17.88 /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%
$230,080
Cap Rate 7%
$164,343
Cap Rate 9%
$127,822
Alternative Uses
Best Use
Multifamily LT 5
$164.3K
$143.8K – $191.7K
NOI $11,504 @ 7.0% cap · market cap 8.22%
Second Best
Apartment 5plus
$149.0K
$130.4K – $173.8K
NOI $10,428 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$290.8K
$254.5K – $339.3K
NOI $20,357 @ 7.0% cap · market cap 14.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
144
Businesses Nearby
Explore this area
Business Placement
Demographics for 70533, LA
7,282
Population
3,020
Households
2.4
Avg Household Size
39
Median Age
20%
College-Educated
84%
High-School Grad
74.4 sq mi
ZIP Area
98
Density / Sq Mi
$65,742
Median Household Income
$39,974
Median Earnings
$828
Median Rent
$151,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Remodeled duplex features two separate two-bedroom, one-bath units, each occupied.
Where is this duplex located?
The property is located at 400 S Granger Street Erath, LA.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: Remodeled duplex in Erath with two separate units, each featuring 2 bedrooms and 1 bathroom; Both units are currently occupied for total income of $1,585 per month; Updates include new flooring, fresh paint, and granite countertops in the kitchen
