Duplex with Central
For Sale
$170,000
505 & 507 Cedar Crest Court, Lafayette, LA 70501
MULTI_FAMILY - Lafayette, LA
Property Size1,457 SF
Lot Size0.20 Acres
Price / SF$116.68
Days on Market61
Property Features for 505 & 507 Cedar Crest Court
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 3
Parking
2
Interior features
Gas Stove Connection
Appliances
Freezer, Refrigerator, Gas Range
Subdivision
West End Hgts
Elementary school
Lafayette
Middle school
Acadian
High school
Lafayette
Elementary school district
Lafayette Parish
Middle school district
Lafayette Parish
High school district
Lafayette Parish
Directions
Travel West on Simcoe St, take left on Cedar Crest Ct, House is on right.
Standard status
Active
APN
6030328
Size
1,457 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Description
LOTS 19-20-21 BLK 7 WEST END HEIGHTS (75 X 125)
Legal Description
LOTS 19-20-21 BLK 7 WEST END HEIGHTS (75 X 125)
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Number of units
2
Flooring type
Laminate, Wood
Building materials
Vinyl Siding, Wood Siding
Roof type
Composition
Listing Agency:
EXP Realty, LLC
(337) 522-7554
Listed By:
Nick Hundley · License #995686646
(337) 789-6539
Added: Jul 9
Changed: Jul 25
Last Checked: Sep 7 at 7:06PM
MLS# 2600006305
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 duplex includes two units at 505 & 507 Cedar Crest Court, each with separate interior living space. One unit is described as a 2-bedroom, 1-bath home, and the other unit is described as a 1-bedroom, 1-bath apartment. Interior features include a gas stove connection, and appliances listed include a freezer, refrigerator, and gas range. The home is heated and cooled with central systems, and the property has public water. Flooring is listed as laminate and wood, and the roof is composition.
The property sits on a 0.2-acre lot and has a total property size of 1,457 square feet. Exterior construction materials include vinyl siding and wood siding.
For buyers looking for a duplex configuration with central HVAC and utilities connected through public water, this layout supports multiple living arrangements under one roof.
The property sits on a 0.2-acre lot and has a total property size of 1,457 square feet. Exterior construction materials include vinyl siding and wood siding.
For buyers looking for a duplex configuration with central HVAC and utilities connected through public water, this layout supports multiple living arrangements under one roof.
Key Highlights
- Two‑unit duplex layout: 2‑bedroom, 1‑bath home plus 1‑bedroom, 1‑bath apartment
- 0.2‑acre lot
- Total property size 1,457 square feet
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
$13,628
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
8.02%
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%
$272,560
$272.6K
Cap Rate 7%
$194,686
$194.7K
Cap Rate 9%
$151,422
$151.4K
Market Conditions
NOI Build-Up for 1,457 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
$26.1K $17.88/SF
− Vacancy
−$6.6K −$4.52/SF
EGI
$19.5K $13.36/SF
− OpEx
−$5.8K −$4.01/SF
NOI
$13.6K $9.35/SF
Area
Lafayette, 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%
$272,560
Cap Rate 7%
$194,686
Cap Rate 9%
$151,422
Alternative Uses
Best Use
Multifamily LT 5
$194.7K
$170.4K – $227.1K
NOI $13,628 @ 7.0% cap · market cap 8.02%
Second Best
Apartment 5plus
$176.5K
$154.4K – $205.9K
NOI $12,352 @ 7.0% cap · market cap 7.27%
Theoretical Best
Office A
$344.5K
$301.4K – $401.9K
NOI $24,114 @ 7.0% cap · market cap 14.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,629
Businesses Nearby
Explore this area
Business Placement
Demographics for 70501, LA
28,721
Population
12,657
Households
2.3
Avg Household Size
38
Median Age
16%
College-Educated
78%
High-School Grad
15.3 sq mi
ZIP Area
1,877
Density / Sq Mi
$31,723
Median Household Income
$25,281
Median Earnings
$867
Median Rent
$117,200
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 - Duplex property with central heating and central air, public water, and a composition roof.
Where is this duplex located?
The property is located at 505 & 507 Cedar Crest Court Lafayette, LA.
What is the asking price?
The asking price for this property is $170,000.
What are key features of this property?
This property features: Two‑unit duplex layout: 2‑bedroom, 1‑bath home plus 1‑bedroom, 1‑bath apartment; 0.2‑acre lot; Total property size 1,457 square feet
