Renovated Furnished
For Sale
$199,000
113 Dover Drive, Houma, LA 70363
Three-unit property is fully occupied and includes furnishings, décor, and appliances.
Property Size2,486 SF
Price / SF$80.05
Days on Market139
Property Features for 113 Dover Drive
General Information
Standard status
Active
Size
2,486 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Amenities
Central Air, Ceiling Fan(s)
Central, Natural Gas
Vinyl Tile Floor
Dishwasher, Dryer, Freezer, Microwave, Range/Oven, Refrigerator, Self Cleaning Oven
4
5
Cable Available, Ceiling Fans, Smoke Detector
Walk-In Closet(s)
1
Architec. Shingle
Chain Link, Full, Wood
Slab: Traditional
Frame, Vinyl Siding
Deck, Patio, Porch
Listing Agency:
PROPRIE'TE' SHOPPE, LLC
(985) 209-6265
Listed By:
Missy Matherne · License #995684608
(985) 209-6265
Source:
Compass
Added: Apr 15
Changed: Aug 30
Last Checked: Aug 31 at 1:59AM
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 PROPRIE'TE' SHOPPE, LLC
Investment Insights
Based on property information with market context.
This 2,486-square-foot triplex has undergone renovation and updating, with three residential units currently at 100% occupancy. The sale includes the furnishings, decorations, and appliances in place, including refrigerators, ranges, a microwave, dishwasher, dryer, freezer, and self-cleaning oven. Interior finishes include vinyl tile flooring, central air, ceiling fans, natural gas service, and walk-in closets.
The property is located at 113 Dover Drive in Houma, Louisiana, and carries a current flood-zone designation of AE. Exterior features include vinyl siding, architectural shingles, a traditional slab foundation, chain-link and wood fencing, plus deck, patio, and porch areas.
The property is located at 113 Dover Drive in Houma, Louisiana, and carries a current flood-zone designation of AE. Exterior features include vinyl siding, architectural shingles, a traditional slab foundation, chain-link and wood fencing, plus deck, patio, and porch areas.
Key Highlights
- 2,486‑square‑foot triplex with three residential units
- Renovated and updated interior
- 100% occupancy
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
$16,257
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
8.17%
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%
$325,140
$325.1K
Cap Rate 7%
$232,243
$232.2K
Cap Rate 9%
$180,633
$180.6K
Market Conditions
NOI Build-Up for 2,486 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
$32.5K $13.08/SF
− Vacancy
−$3.0K −$1.19/SF
EGI
$29.6K $11.89/SF
− OpEx
−$13.3K −$5.35/SF
NOI
$16.3K $6.54/SF
Area
Terrebonne County, LA
Vacancy
9.10%
Lease Rate
$13.08 /SF/Yr
Expense Ratio
45.00%
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%
$325,140
Cap Rate 7%
$232,243
Cap Rate 9%
$180,633
Alternative Uses
Best Use
Multifamily LT 5
$267.1K
$233.7K – $311.6K
NOI $18,697 @ 7.0% cap · market cap 9.40%
Second Best
Apartment 5plus
$232.2K
$203.2K – $271.0K
NOI $16,257 @ 7.0% cap · market cap 8.17%
Theoretical Best
Office A
$685.3K
$599.6K – $799.5K
NOI $47,970 @ 7.0% cap · market cap 24.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Explore this area
Business Placement
Demographics for 70363, LA
25,319
Population
10,449
Households
2.4
Avg Household Size
36
Median Age
8%
College-Educated
75%
High-School Grad
78.4 sq mi
ZIP Area
323
Density / Sq Mi
$44,828
Median Household Income
$33,176
Median Earnings
$1,054
Median Rent
$143,800
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?
Triplex - Three-unit property is fully occupied and includes furnishings, décor, and appliances.
Where is this triplex located?
The property is located at 113 Dover Drive Houma, LA.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: 2,486‑square‑foot triplex with three residential units; Renovated and updated interior; 100% occupancy
