Renovated Three-Unit Short-Term
For Sale
$715,000
103 S Southlawn Dr, Lafayette, LA 70503
Three furnished units share a courtyard and include appliances, décor, and guest-ready furnishings.
Property Size3,364 SF
Price / SF$212.54
Days on Market271
Property Features for 103 S Southlawn Dr
General Information
Standard status
Active
Size
3,364 SF
Total Parking Spaces
8
Property subtype
Investment
Zoning
RM-1
Additional Details
Furnished
Yes
Multifamily Units
3
Amenities
courtyard
Power
Water
Sewer
Natural Gas
8 Parking Spaces
Building Details
Year Built
1970
Listing Agency:
Atlas Realty of Acadiana, LLC
(337) 504-7414
Listed By:
Stevie Reaux · License #0995684747
(337) 504-7414
Source:
Lacdb.resimplifi
Added: Dec 4, 2025
Changed: Aug 31
Last Checked: Aug 31 at 12:44PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Atlas Realty of Acadiana, LLC
Investment Insights
Based on property information with market context.
This renovated short-term rental property contains three separate units within a 3,364-square-foot building. Each unit is furnished and equipped with appliances and décor, allowing the property to accommodate up to 18 guests. The units share a large courtyard, creating a common outdoor area for visitors while maintaining distinct living spaces.
Built in 1970 and situated in Lafayette, Louisiana, the property is zoned RM-1. Furnishings, appliances, and décor are included, providing a fully equipped setup for short-term rental operations.
Built in 1970 and situated in Lafayette, Louisiana, the property is zoned RM-1. Furnishings, appliances, and décor are included, providing a fully equipped setup for short-term rental operations.
Key Highlights
- Three separate units with shared large courtyard
- Up to 18‑guest sleeping capacity
- 3,364‑square‑foot building
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
$31,464
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
4.40%
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%
$629,280
$629.3K
Cap Rate 7%
$449,486
$449.5K
Cap Rate 9%
$349,600
$349.6K
Market Conditions
NOI Build-Up for 3,364 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
$60.1K $17.88/SF
− Vacancy
−$15.2K −$4.52/SF
EGI
$44.9K $13.36/SF
− OpEx
−$13.5K −$4.01/SF
NOI
$31.5K $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%
$629,280
Cap Rate 7%
$449,486
Cap Rate 9%
$349,600
Alternative Uses
Best Use
Multifamily LT 5
$449.5K
$393.3K – $524.4K
NOI $31,464 @ 7.0% cap · market cap 4.40%
Second Best
Apartment 5plus
$407.4K
$356.5K – $475.3K
NOI $28,519 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$795.4K
$696.0K – $927.9K
NOI $55,676 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,137
Businesses Nearby
Explore this area
Business Placement
Demographics for 70503, LA
27,497
Population
13,052
Households
2.1
Avg Household Size
38
Median Age
55%
College-Educated
96%
High-School Grad
11.3 sq mi
ZIP Area
2,433
Density / Sq Mi
$94,360
Median Household Income
$54,170
Median Earnings
$1,087
Median Rent
$326,800
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?
Short term rental property - Three furnished units share a courtyard and include appliances, décor, and guest-ready furnishings.
Where is this short term rental property located?
The property is located at 103 S Southlawn Dr Lafayette, LA.
What is the asking price?
The asking price for this property is $715,000.
What are key features of this property?
This property features: Three separate units with shared large courtyard; Up to 18‑guest sleeping capacity; 3,364‑square‑foot building
