Building Details

Year Renovated 2023

Buildings 1

Listing Agency: Anslum Real Estate, LLC Show Phone

Listed By: Brooks Richard Show Phone

Source: Exprealty

Added: Aug 3 Changed: Aug 21 Last Checked: Aug 21 at 2:06PM

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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 Anslum Real Estate, LLC

Investment Insights

Based on property information with market context.

Located at 112 & 114 Enterprise Ave. in Patterson, Louisiana, this duplex contains 2,304 square feet and underwent extensive remodeling in 2023. The property is arranged as two separate units, each with three bedrooms, one full bathroom, and a practical living layout.

Both kitchens include granite countertops, a range, hood vent, dishwasher, and refrigerator. Each unit also has its own washer and dryer, providing dedicated laundry amenities for the occupants. The two-unit configuration supports rental occupancy or an owner-occupant arrangement with a separate residence on site.

Key Highlights

• 2,304‑square‑foot duplex at 112 & 114 Enterprise Ave., Patterson, LA
• Extensively updated in 2023
• Two units, each with 3 bedrooms and 1 full bath

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

$13,427

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

4.71%

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%

$268,540 $268.5K

Cap Rate 7%

$191,814 $191.8K

Cap Rate 9%

$149,189 $149.2K

Market Conditions

NOI Build-Up for 2,304 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

$20.7K $9.00/SF

− Vacancy

−$1.6K −$0.68/SF

EGI

$19.2K $8.33/SF

− OpEx

−$5.8K −$2.50/SF

NOI

$13.4K $5.83/SF

Area

St. Mary County, LA

Vacancy

7.50%

Lease Rate

$9.00 /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%

$268,540

Cap Rate 7%

$191,814

Cap Rate 9%

$149,189

Alternative Uses

Best Use

Multifamily LT 5

$191.8K

$167.8K – $223.8K (±1% cap)

NOI $13,427 @ 7.0% cap · market cap 4.71%

Second Best

Apartment 5plus

$172.1K

$150.6K – $200.8K (±1% cap)

NOI $12,047 @ 7.0% cap · market cap 4.23%

Theoretical Best

Office A

$393.1K

$344.0K – $458.6K (±1% cap)

NOI $27,518 @ 7.0% cap · market cap 9.66%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Building Supply Dental Office Auto Parts Store HVAC Service Law Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

157

Businesses Nearby

Explore this area Business Placement

Demographics for 70392, LA

8,406

Population

3,396

Households

2.5

Avg Household Size

38

Median Age

9%

College-Educated

80%

High-School Grad

36.8 sq mi

ZIP Area

228

Density / Sq Mi

$49,538

Median Household Income

$38,918

Median Earnings

$760

Median Rent

$141,600

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two three-bedroom residences feature updated kitchens, full baths, and dedicated laundry appliances.

Where is this duplex located?

The property is located at 112 & 114 Enterprise Ave Patterson, LA.

What is the asking price?

The asking price for this property is $285,000.

What are key features of this property?

This property features: 2,304‑square‑foot duplex at 112 & 114 Enterprise Ave., Patterson, LA; Extensively updated in 2023; Two units, each with 3 bedrooms and 1 full bath