Renovated Fourplex with Historic
For Sale
$349,900
1240 Mississippi St, Donaldsonville, LA 70346
Residential Income, Donaldsonville, LA
Property Size4,450 SF
Lot Size0.44 Acres
Price / SF$78.63
Days on Market289
Property Features for 1240 Mississippi St
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking
6
Patio and Porch features
Porch, Patio
Interior features
Walk-In Closet(s)
Exterior features
Lighting
Fencing
Chain Link
Appliances
Washer/Dryer Some, Electric Cooktop, Dishwasher, Freezer, Microwave, Range/Oven, Refrigerator
Subdivision
City Of Donaldsonville
Elementary school district
Ascension Parish
Middle school district
Ascension Parish
High school district
Ascension Parish
Directions
I-10 East, exit Donaldsonville/Sorrento exit and go right, take left on Hwy 70 and go over Sunshine Bridge, right on Hwy 3120(next to OYOHotel), left on Hwy 18(River Rd), property a mile down on the left.
Standard status
Active
Size
4,450 SF
Lot size
0.44 Acres
Taxes and HOA fees
Tax Description
.40 AC. M/L RBMR, FAUBOURG LAPIPE
Legal Description
.40 AC. M/L RBMR, FAUBOURG LAPIPE
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air, Wall Unit(s)
Water source
Public
Amenities
front porch
large backyard
off-street parking
Building Details
Floors in Building
2
Flooring type
Wood, Tile
Building materials
Asbestos Siding, Wood Siding, Frame
Roof type
Metal
Listing Agency:
Reve REALTORS
(504) 300-0700
Listed By:
Brandon Katz · License #995713122
(225) 210-6091
Added: Nov 6, 2025
Changed: Aug 22
Last Checked: Aug 22 at 6:06PM
MLS# 2025020458
Copyright © 2026 Greater Baton Rouge Association 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 1867 fourplex contains approximately 4,450 square feet across three one-bedroom, one-bath units and one two-bedroom, one-and-a-half-bath unit. The restored property retains high ceilings, original architectural details, wood and tile flooring, and abundant natural light while incorporating updated HVAC, electrical, plumbing, and structural systems. Central air and wall units provide cooling, with electric heat serving the residence.
Outdoor features include a front porch, patio, fenced backyard, exterior lighting, and off-street parking. The property is located near downtown Donaldsonville’s historic corridor and offers public water, public sewer, and cable availability. Appliances include ranges or cooktops, refrigerators, a dishwasher, freezer, microwave, and some washer and dryer equipment.
Outdoor features include a front porch, patio, fenced backyard, exterior lighting, and off-street parking. The property is located near downtown Donaldsonville’s historic corridor and offers public water, public sewer, and cable availability. Appliances include ranges or cooktops, refrigerators, a dishwasher, freezer, microwave, and some washer and dryer equipment.
Key Highlights
- Approximately 4,450 square feet on a 0.44‑acre lot
- Fourplex configuration with three 1‑bedroom, 1‑bath units and one 2‑bedroom, 1.5‑bath unit
- Originally built in 1867 with restored architectural details and high ceilings
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
$23,646
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
6.76%
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%
$472,920
$472.9K
Cap Rate 7%
$337,800
$337.8K
Cap Rate 9%
$262,733
$262.7K
Market Conditions
NOI Build-Up for 4,450 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
$41.7K $9.36/SF
− Vacancy
−$7.9K −$1.77/SF
EGI
$33.8K $7.59/SF
− OpEx
−$10.1K −$2.28/SF
NOI
$23.6K $5.31/SF
Area
Ascension County, LA
Vacancy
18.90%
Lease Rate
$9.36 /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%
$472,920
Cap Rate 7%
$337,800
Cap Rate 9%
$262,733
Alternative Uses
Best Use
Multifamily LT 5
$337.8K
$295.6K – $394.1K
NOI $23,646 @ 7.0% cap · market cap 6.76%
Second Best
Apartment 5plus
$292.4K
$255.8K – $341.1K
NOI $20,467 @ 7.0% cap · market cap 5.85%
Theoretical Best
Office A
$976.5K
$854.4K – $1.14M
NOI $68,352 @ 7.0% cap · market cap 19.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
101
Businesses Nearby
Explore this area
Business Placement
Demographics for 70346, LA
10,342
Population
4,275
Households
2.4
Avg Household Size
38
Median Age
12%
College-Educated
85%
High-School Grad
64.9 sq mi
ZIP Area
159
Density / Sq Mi
$37,490
Median Household Income
$22,364
Median Earnings
$854
Median Rent
$186,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Updated multi-unit property with distinctive architectural details, outdoor space, and off-street parking near downtown Donaldsonville.
Where is this quadplex located?
The property is located at 1240 Mississippi St Donaldsonville, LA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Approximately 4,450 square feet on a 0.44‑acre lot; Fourplex configuration with three 1‑bedroom, 1‑bath units and one 2‑bedroom, 1.5‑bath unit; Originally built in 1867 with restored architectural details and high ceilings
