Quadplex with Recent Roof
For Sale
$365,000
106 Country Estates Drive, Houma, LA 70364
Residential Income, Houma, LA
Property Size3,227 SF
Lot Size0.70 Acres
Price / SF$113.11
Days on Market95
Property Features for 106 Country Estates Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
10
Parking features
Assigned
Patio and Porch features
Porch
Interior features
Electric Stove Con.
Appliances
Electric Cooktop
Subdivision
Country Estates
Lot features
Additional Land Lot, Additional Land Lot
Elementary school district
Terrebonne Parish
Middle school district
Terrebonne Parish
High school district
Terrebonne Parish
Standard status
Active
Size
3,227 SF
Lot size
0.70 Acres
Utilities
Sewer type
Septic Tank
Heating system
Central, Electric (Heating)
Cooling system
Heat Pump, Central Air
Building Details
Flooring type
Tile
Building materials
Vinyl Siding
Roof type
Shingle
Listing Agency:
Canal & Main Realty
(985) 446-6363
Listed By:
Gwendolyn Barrilleaux · License #56838
(985) 665-6550
Added: Jun 15
Changed: Sep 16
Last Checked: Sep 17 at 11:06AM
MLS# 2026011047
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 quadplex-style multifamily property includes a duplex plus two additional single units. The property has been recently remodeled and features vinyl siding, tile flooring, and viny wood plank floors throughout the units, along with central air and heat plus a heat pump. Heating includes electric (heating) and central systems, and each unit is equipped with an electric cooktop. Roofs on all units were replaced in 2024, and the property includes a porch and assigned parking.
The property sits on 0.7 acres and is located on Country Estates Drive in Houma, Louisiana. It also includes adjoining vacant land measuring 116 ft by 175 deep, providing space to add two additional duplexes. Sewer service is provided via a septic tank. The seller states no flood insurance is required.
For showing requests, tenants must be present for all showings and at least 24 hours’ notice is required. Two units are occupied by long-term tenants of over 10 years, while the remaining units have tenants in place for two years.
The property sits on 0.7 acres and is located on Country Estates Drive in Houma, Louisiana. It also includes adjoining vacant land measuring 116 ft by 175 deep, providing space to add two additional duplexes. Sewer service is provided via a septic tank. The seller states no flood insurance is required.
For showing requests, tenants must be present for all showings and at least 24 hours’ notice is required. Two units are occupied by long-term tenants of over 10 years, while the remaining units have tenants in place for two years.
Key Highlights
- Roofs on all units replaced in 2024
- Duplex plus two additional single units
- Two units occupied by long‑term tenants over 10 years
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
$24,269
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
6.65%
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%
$485,380
$485.4K
Cap Rate 7%
$346,700
$346.7K
Cap Rate 9%
$269,656
$269.7K
Market Conditions
NOI Build-Up for 3,227 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
$37.9K $11.76/SF
− Vacancy
−$3.3K −$1.02/SF
EGI
$34.7K $10.74/SF
− OpEx
−$10.4K −$3.22/SF
NOI
$24.3K $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%
$485,380
Cap Rate 7%
$346,700
Cap Rate 9%
$269,656
Alternative Uses
Best Use
Multifamily LT 5
$346.7K
$303.4K – $404.5K
NOI $24,269 @ 7.0% cap · market cap 6.65%
Second Best
Apartment 5plus
$301.5K
$263.8K – $351.7K
NOI $21,102 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$889.5K
$778.4K – $1.04M
NOI $62,268 @ 7.0% cap · market cap 17.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
54
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
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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?
Multifamily property - Duplex plus two single units with central air and heat, with all roofs replaced in 2024.
Where is this multifamily property located?
The property is located at 106 Country Estates Drive Houma, LA.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Roofs on all units replaced in 2024; Duplex plus two additional single units; Two units occupied by long‑term tenants over 10 years
