Furnished Quadplex with Expansion
For Sale
$324,000
Pending
405 Williams Ave, Houma, LA 70364
Residential Income, Houma, LA
Property Size1,983 SF
Lot Size0.14 Acres
Days on Market141
Property Features for 405 Williams Ave
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking
6
Window features
Drapes, Window Treatments
Patio and Porch features
Porch, Patio, Deck
Interior features
Storage in Garage
Appliances
Washer/Dryer All, Dryer, Microwave, Range/Oven, Refrigerator, Self Cleaning Oven
Subdivision
Vigurie
Lot features
Commons Lot, Commons Lot
Elementary school district
Terrebonne Parish
Middle school district
Terrebonne Parish
High school district
Terrebonne Parish
Directions
From Park Street turn right onto Williams Avenue. 405 Williams is on the left right before the stop sign.
Standard status
Pending
Size
1,983 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Description
Sea legal in documents
Legal Description
Sea legal in documents
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Wall Furnace
Cooling system
Window Unit(s), Ceiling Fan(s)
Water source
Public
Amenities
appliances included
Building Details
Flooring type
Tile
Building materials
Wood Siding, Frame
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
PROPRIE'TE' SHOPPE, LLC
(985) 232-6901
Listed By:
Missy Matherne · License #995684608
(985) 232-6901
Added: Apr 15
Changed: Aug 19
Last Checked: Sep 2 at 5:06AM
MLS# 2026006912
Copyright © 2026 Bayou Board 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.
This 1,983-square-foot quadplex on a 0.14-acre lot includes four updated and renovated units with furnishings, decor, and appliances included. Unit A is a two-bedroom, two-bathroom residence, while Units B, C, and D each offer one bedroom and one bathroom. Unit D is positioned above a double garage, which includes storage space. A separate 267-square-foot area has been built but not completed, with 233 square feet of potential storage below it.
Interior features include tile flooring, wall-furnace heating, window-unit cooling, and ceiling fans. The property also offers a porch, patio, deck, washer and dryer, kitchen appliances, public water, public sewer, and cable availability. The property is located in flood zone X.
Interior features include tile flooring, wall-furnace heating, window-unit cooling, and ceiling fans. The property also offers a porch, patio, deck, washer and dryer, kitchen appliances, public water, public sewer, and cable availability. The property is located in flood zone X.
Key Highlights
- Four updated and renovated units with furnishings, decor, and appliances included
- Unit mix includes one 2‑bedroom, 2‑bathroom house and three 1‑bedroom, 1‑bathroom units
- 267 ft.2 potential additional unit ready for completion
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
$14,914
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
4.60%
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%
$298,280
$298.3K
Cap Rate 7%
$213,057
$213.1K
Cap Rate 9%
$165,711
$165.7K
Market Conditions
NOI Build-Up for 1,983 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
$23.3K $11.76/SF
− Vacancy
−$2.0K −$1.02/SF
EGI
$21.3K $10.74/SF
− OpEx
−$6.4K −$3.22/SF
NOI
$14.9K $7.52/SF
Area
Terrebonne County, LA
Vacancy
8.64%
Lease Rate
$11.76 /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%
$298,280
Cap Rate 7%
$213,057
Cap Rate 9%
$165,711
Alternative Uses
Best Use
Multifamily LT 5
$213.1K
$186.4K – $248.6K
NOI $14,914 @ 7.0% cap · market cap 4.60%
Second Best
Apartment 5plus
$185.3K
$162.1K – $216.1K
NOI $12,968 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$546.6K
$478.3K – $637.7K
NOI $38,264 @ 7.0% cap · market cap 11.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,220
Businesses Nearby
Explore this area
Business Placement
Demographics for 70364, LA
29,559
Population
12,423
Households
2.4
Avg Household Size
37
Median Age
16%
College-Educated
87%
High-School Grad
42.2 sq mi
ZIP Area
700
Density / Sq Mi
$68,909
Median Household Income
$36,164
Median Earnings
$1,004
Median Rent
$195,600
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?
Quadplex - Updated four-unit property with furnishings, appliances, public utilities, and an additional space ready for completion.
Where is this quadplex located?
The property is located at 405 Williams Ave Houma, LA.
What is the asking price?
The asking price for this property is $324,000.
What are key features of this property?
This property features: Four updated and renovated units with furnishings, decor, and appliances included; Unit mix includes one 2‑bedroom, 2‑bathroom house and three 1‑bedroom, 1‑bathroom units; 267 ft.2 potential additional unit ready for completion
