Renovated Triplex with Included
For Sale
$199,000
113 Dover Dr, Houma, LA 70363
Residential Income, Houma, LA
Property Size2,486 SF
Lot Size0.41 Acres
Price / SF$80.05
Days on Market139
Property Features for 113 Dover Dr
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
6
Parking features
Carport, Assigned, Covered
Window features
Drapes, Window Treatments
Patio and Porch features
Porch, Patio, Deck
Interior features
High Speed Internet, Gas Stove Con., Master Bath, Walk-In Closet(s)
Fencing
Chain Link
Appliances
Washer/Dryer All, Dishwasher, Dryer, Freezer, Microwave, Range/Oven, Refrigerator, Self Cleaning Oven
Subdivision
Highridge
Lot features
Additional Land Lot, Additional Land Lot
Elementary school district
Terrebonne Parish
Middle school district
Terrebonne Parish
High school district
Terrebonne Parish
Directions
from Bayou Dularge Rd turn onto Highridge. From Highridge, turn onto Mary Carmen then left on Dover. Property is on the right
Standard status
Active
Size
2,486 SF
Lot size
0.41 Acres
Taxes and HOA fees
Tax Description
see legal in documents
Legal Description
see legal in documents
Utilities
Utilities
Cable Available
Heating system
Central, Natural Gas
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Flooring type
Tile
Building materials
Vinyl Siding, Frame
Roof type
Shingle
Listing Agency:
PROPRIE'TE' SHOPPE, LLC
(985) 232-6901
Listed By:
Missy Matherne · License #995684608
(985) 232-6901
Added: Apr 15
Changed: Aug 19
Last Checked: Aug 31 at 9:06PM
MLS# 2026006927
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.
Renovated triplex sold with 100% of the furnishings, decorations, and appliances. The property is currently at 100% occupancy and configured with three units (A, B, and C). Interior features include high-speed internet, gas stove connection, a master bath, and walk-in closet(s). Heating and cooling are provided by central natural gas heat and central air with ceiling fans, with tile flooring throughout.
Outside, the home has vinyl siding with frame construction, a shingle roof, chain-link fencing, and multiple outdoor spaces including a patio, porch, and deck. Parking is available via carport, covered, and assigned spaces. Public water is available, with cable available as well.
The property sits on a 0.41-acre lot and has 2,486 square feet of interior space. The current flood zone is AE.
Outside, the home has vinyl siding with frame construction, a shingle roof, chain-link fencing, and multiple outdoor spaces including a patio, porch, and deck. Parking is available via carport, covered, and assigned spaces. Public water is available, with cable available as well.
The property sits on a 0.41-acre lot and has 2,486 square feet of interior space. The current flood zone is AE.
Key Highlights
- Renovated triplex sold with 100% of the furnishings, decorations, and appliances
- Currently at 100% occupancy with three units (A, B, and C)
- 0.41‑acre lot with 2,486 SF interior space
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
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
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 - Renovated triplex sold with included furnishings and appliances, offering central HVAC and carport parking with 100% occupancy.
Where is this triplex located?
The property is located at 113 Dover Dr 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: Renovated triplex sold with 100% of the furnishings, decorations, and appliances; Currently at 100% occupancy with three units (A, B, and C); 0.41‑acre lot with 2,486 SF interior space
