Renovated Historic
For Sale
$359,900
1240 Mississippi Street, Donaldsonville, LA 70346
Four-unit property with updated systems, restored architectural details, outdoor space, and mixed one- and two-bedroom layouts.
Property Size4,450 SF
Price / SF$80.88
Days on Market328
Property Features for 1240 Mississippi Street
General Information
Standard status
Active
Size
4,450 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Amenities
Central Air, Wall Unit(s)
Electric
Vinyl Tile Floor, Wood
Electric Cooktop, Dishwasher, Freezer, Microwave, Range/Oven, Refrigerator
4
5
Cable Available, Ceiling Fans, Smoke Detector
1
Walk-In Closet(s)
Metal
Chain Link, Wood
2
Lighting
Pillar/Post/Pier
Asbestos, Frame, Wood Siding
Patio, Porch
Listing Agency:
LV and Associates Real Estate Firm
(225) 210-6091
Listed By:
Brandon Katz · License #995713122
(225) 210-6091
Source:
Compass
Added: Oct 8, 2025
Changed: Aug 30
Last Checked: Aug 30 at 8:04PM
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 LV and Associates Real Estate Firm
Investment Insights
Based on property information with market context.
Built in 1867, this approximately 4,450-square-foot quadplex retains historic character while incorporating updated systems and refreshed interiors. The configuration includes three 1-bedroom, 1-bath units and one 2-bedroom, 1.5-bath unit. Improvements include HVAC, electrical, plumbing, and structural work, while high ceilings, original architectural details, and abundant natural light contribute to the interior character.
Outdoor features include a front porch with views toward the nearby Mississippi River levee, a large backyard, and off-street parking. The property is located near downtown Donaldsonville’s historic corridor, with access to local amenities, employment centers, and area attractions. It is also near the city’s industrial development activity.
Outdoor features include a front porch with views toward the nearby Mississippi River levee, a large backyard, and off-street parking. The property is located near downtown Donaldsonville’s historic corridor, with access to local amenities, employment centers, and area attractions. It is also near the city’s industrial development activity.
Key Highlights
- 4,450‑square‑foot historic property dating to 1867
- Fourplex layout with three 1‑bedroom, 1‑bath units and one 2‑bedroom, 1.5‑bath unit
- Recent HVAC, electrical, plumbing, and structural improvements
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
6.57%
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 6.57%
Second Best
Apartment 5plus
$292.4K
$255.8K – $341.1K
NOI $20,467 @ 7.0% cap · market cap 5.69%
Theoretical Best
Office A
$976.5K
$854.4K – $1.14M
NOI $68,352 @ 7.0% cap · market cap 18.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 - Four-unit property with updated systems, restored architectural details, outdoor space, and mixed one- and two-bedroom layouts.
Where is this quadplex located?
The property is located at 1240 Mississippi Street Donaldsonville, LA.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: 4,450‑square‑foot historic property dating to 1867; Fourplex layout with three 1‑bedroom, 1‑bath units and one 2‑bedroom, 1.5‑bath unit; Recent HVAC, electrical, plumbing, and structural improvements
