4-Unit Property with Covered
For Sale
$320,000
1060 W Main Street, New Iberia, LA 70560
Residential Income, New Iberia, LA
Property Size4,163 SF
Lot Size0.77 Acres
Price / SF$76.87
Days on Market95
Property Features for 1060 W Main Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
R2, R5
Bedrooms
7
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 7, Bedroom 4, Bedroom 2, Bathroom 3, Bedroom 6, Bedroom 5, Bathroom 1, Bedroom 1, Bathroom 4, Bathroom 2
Parking
8
Parking features
Parking Lot, Carport, Covered
Window features
Window Treatments
Patio and Porch features
Porch, Patio
Interior features
High Ceilings, 9+ Ft Ceiling, Window Treatments, Electric Dryer Connection, Electric Stove Connection, Electric Washer Connection, Gas Stove Connection
Exterior features
Lighting, Outside Light, Porch, Storm Doors, Patio
Fencing
Chain Link
Appliances
Refrigerator, Electric Range, Gas Range
Lot features
Level
Elementary school
Park
Middle school
Anderson
High school
Westgate
Elementary school district
Iberia Parish
Middle school district
Iberia Parish
High school district
Iberia Parish
Directions
From Main Street downtown towards Lafayette home on the right hand side just before North Street
Subdivision
I1
Standard status
Active
APN
0500763000
Size
4,163 SF
Lot size
0.77 Acres
Taxes and HOA fees
Tax Description
1-50 X 102/100 ITEM 2 NORTH ST, KAHN, HARRINGTON, TRAHAN IMP. (210 NORTH ST) ITEM 5 1-99/102 X 169/164 (see docs)
Legal Description
1-50 X 102/100 ITEM 2 NORTH ST, KAHN, HARRINGTON, TRAHAN IMP. (210 NORTH ST) ITEM 5 1-99/102 X 169/164 (see docs)
Utilities
Heating system
Electric (Heating)
Cooling system
Window Unit(s), Ceiling Fan(s)
Water source
Public
Building Details
Floors in Building
2
Number of units
4
Flooring type
Laminate, Wood
Building materials
Asbestos, Brick, Wood Siding
Roof type
Metal
Additional Structures
Residence
Listing Agency:
Home Realty of Acadiana
(337) 456-1883
Listed By:
Tim Breaux · License #912122839
(337) 577-4663
Added: Jun 11
Changed: Sep 12
Last Checked: Sep 13 at 6:06PM
MLS# 2600005302
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 4-unit residential income property offers 4,163 square feet on a 0.77-acre city lot. The unit mix includes two 2-bedroom, 1-bath residences in the front split-level home, a 1-bedroom, 1-bath garage apartment, and a separate 2-bedroom, 1-bath residence. All four units are currently occupied.
Property features include laminate and wood flooring, high ceilings, window treatments, electric heating, window-unit cooling, ceiling fans, and connections for electric laundry appliances. Kitchens include electric and gas range connections, with refrigerators and ranges among the installed appliances. Exterior improvements include a porch, patio, chain-link fencing, exterior lighting, storm doors, a metal roof, carport parking, and a covered parking area. Public water serves the property, which carries R2 and R5 zoning in New Iberia.
Property features include laminate and wood flooring, high ceilings, window treatments, electric heating, window-unit cooling, ceiling fans, and connections for electric laundry appliances. Kitchens include electric and gas range connections, with refrigerators and ranges among the installed appliances. Exterior improvements include a porch, patio, chain-link fencing, exterior lighting, storm doors, a metal roof, carport parking, and a covered parking area. Public water serves the property, which carries R2 and R5 zoning in New Iberia.
Key Highlights
- 4,163‑square‑foot property on 0.77 acres
- Four occupied rental units
- Unit mix includes two 2‑bedroom, 1‑bath units, one 1‑bedroom, 1‑bath unit, and one 2‑bedroom, 1‑bath unit
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
$27,049
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
8.45%
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%
$540,980
$541.0K
Cap Rate 7%
$386,414
$386.4K
Cap Rate 9%
$300,544
$300.5K
Market Conditions
NOI Build-Up for 4,163 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
$42.5K $10.20/SF
− Vacancy
−$3.8K −$0.92/SF
EGI
$38.6K $9.28/SF
− OpEx
−$11.6K −$2.78/SF
NOI
$27.0K $6.50/SF
Area
Iberia County, LA
Vacancy
9.00%
Lease Rate
$10.20 /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%
$540,980
Cap Rate 7%
$386,414
Cap Rate 9%
$300,544
Alternative Uses
Best Use
Multifamily LT 5
$386.4K
$338.1K – $450.8K
NOI $27,049 @ 7.0% cap · market cap 8.45%
Second Best
Apartment 5plus
$363.1K
$317.7K – $423.6K
NOI $25,415 @ 7.0% cap · market cap 7.94%
Theoretical Best
Office A
$688.5K
$602.5K – $803.3K
NOI $48,198 @ 7.0% cap · market cap 15.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
245
Businesses Nearby
Explore this area
Business Placement
Demographics for 70560, LA
39,457
Population
16,970
Households
2.3
Avg Household Size
38
Median Age
11%
College-Educated
80%
High-School Grad
176.1 sq mi
ZIP Area
224
Density / Sq Mi
$48,296
Median Household Income
$31,864
Median Earnings
$886
Median Rent
$126,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Occupied rental property with varied layouts, porches, patios, and covered parking.
Where is this quadplex located?
The property is located at 1060 W Main Street New Iberia, LA.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: 4,163‑square‑foot property on 0.77 acres; Four occupied rental units; Unit mix includes two 2‑bedroom, 1‑bath units, one 1‑bedroom, 1‑bath unit, and one 2‑bedroom, 1‑bath unit
